SoftBank-backed Sinch to buy MessageMedia for $1.3bn June 9, 2021 Cloud communications firm Sinch is set to buy mobile messaging business MessageMedia for $1.3bn to bolster small and medium businesses (SMEs) post-pandemic. Sinch, of which Japan’s SoftBank has a $690m stake, will seal the deal with $1.1bn in cash around 1m new shares. “Addressing small and medium-sized businesses opens up a new avenue to growth [...]
Surge testing deployed in Kingston to combat Delta variant June 9, 2021 Surge testing has begun in Kingston today to combat rising cases of the Delta variant, with those older than 11 advised to get tested even without symptoms. NHS Test and Trace has teamed up with local authorities to launch the additional testing and genomic sequencing in the area. A small number of confirmed cases of [...]
City Moves: Who’s switching jobs in the Square Mile this week? June 9, 2021 CityAM‘s Millie Turner provides a roundup of the most important hires and job moves across the City, every Wednesday afternoon. Email [email protected] to be featured. Chairman trades The Restaurant Group for the FA The Restaurant Group (TRG), which host brands like Wagamama and Frankie & Benny’s, has confirmed this week that its chairman will be stepping [...]
CMA to investigate British Airways and Ryanair over lockdown flight refunds June 9, 2021 The UK’s markets watchdog has begun an investigation into British Airways and Ryanair today, to find whether they broke the law in not offering refunds for flights struck by lockdown laws. The Competition and Markets Authority (CMA) will be looking at a potential breach in consumers’ legal rights when they were left out of pocket [...]
Ofcom: Pandemic pushes UK to spend over £110bn online for the first time June 9, 2021 The UK’s adults, after spending more time online than other European countries, have racked up a digital shopping bill of more than £110bn for the first time since records began. With more time spent in front of desktops, smartphones or tablets in 2020 than in other European countries, more than 3.5 hours a day Ofcom [...]
Ferrari poaches chipmaker executive as its new CEO to fuel electric transition June 9, 2021 Ferrari has poached a chipmaker tech executive for its new CEO, in hopes to push the pedal on its electric transition amid global chip shortages. Tech veteran Benedetto Vigna joins the luxury car firm from TMicroelectronics, where he began his career 26 years ago. The somewhat low-profile hire has highlighted the revolving doors between the tech [...]
China’s consumer and producer prices swell amid recovery supply-chain troubles June 9, 2021 Rising inflation is beginning to grip the global economy, with China’s consumer price inflation figures swelling amid strings of supply-chain troubles. The export giant’s factory gate prices grew at their fastest rate annually in more than 12 years last month – soaring 8.6 per cent higher than December’s figure. China’s consumer price inflation for May [...]
Twenty-somethings join thousands-long vaccine queue, with 500,000 jabs booked June 8, 2021 Over 25s have hopped onto the back of a thousands-long vaccine queue, after health secretary Matt Hancock confirmed yesterday that the age group was able to get jabbed. The NHS said half a million COVID jabs had been booked by 12pm today, likening the rush for bookings to the annual scramble for Glastonbury tickets. The [...]
London property developer slapped with 14-year ban for £13m ‘ponzi’ scheme June 8, 2021 A fraudster property developer who promised investors comfy returns but instead used a £13m ‘ponzi’ property scheme has been slapped with a 14-year ban. While transferring funds abroad, Chelmsford-based Mitchell Mallin targeted investors with the promise to do up dilapidated properties in the capital and Essex before selling them for a profit. “As the period [...]
Paragon bank posts record profits, reaping the benefits of lending surge June 8, 2021 Paragon banking group has posted record profits in the last six months, reaping the benefits of a surge in lending and chasmic margins. Since revealing the strong results, the banking group’s shares rocketed 9.47 per cent in the afternoon’s London trading, taking Paragon’s share price to 560.5p per share. The group’s profit before tax soared [...]
