THE HOME OF THE GLOBAL SOURCING STANDARD
The cyber security firm McAfee has priced its shares in the lower half of its initial public offering despite the strong market for new software companies.
Public investors agreed to buy shares at $20 each which will deliver $620m in proceeds of which they plan to use to get out of debt.
The shares are in a “Up-C” format which is meant to provide tax benefits for insiders.
To read the full article you will need to be subscribed to the Financial Times
Google is being trailed by the US Department of Justice for supressing competition in the internet search in Antitrust Case.
The US Department of Justice view Googles position as a “monopoly gatekeeper for the internet.” If no action is taken to reduce their monopoly power, then we could lose innovation in the future.
MEPs have published ways that the EU can regulate artificial intelligence in order to boost innovation, ethical standards and trust in technology. By enforcing new regulation they hope to become global leaders for AI in the future.
Potential legislation includes a future oriented civil liability framework and an effective intellectual property rights system.
Read the full article here
Verizon has signed a contract with Microsoft and Nokia to target more business consumers. They are aiming to provide more efficient automated factory floors. This will help to cut costs and speed up the production process by using private 5G networks.
By using a private 5G network they hope to minimise disruption and withhold a constant speed throughout the production process.
Microsoft’s cloud computing firm, Azure will also use Verizon’s 5G to operate.
The telecoms industry hope that the launch of the new iPhone 12 will create a shift in demand for 5G.
Despite other brands such as Samsung having launched 5G goods in 2019 there has been a slow adoption. With Apple's launch of the new iPhone there’s hope that Apple's marketing power and customers will create more demand for 5G.
IBM scrape through Wall Street estimates for quarterly revenue, supported by higher demand for its’ cloud services.
Whilst their revenue for cloud services rose by 16% IBM’s total revenue fell by 2.6% in the reported quarter.
This supports their move to focus the business on Cloud and AI services.
Japan are set to join forces with the US and Europe to try and regulate the big four tech companies according to the head of the antitrust watchdog.
Tokyo are also interested in a merger or business tie-up with Fitbit if the deal is large enough.
This comes after the EU antitrust regulators reviewed a $2.1bn deal by Google to buy Fitbit in order to compete with Apple and Samsung for market share.
Canadian security firm GardaWorld has bid £3bn to takeover their rival UK firm, G4S. If the bid is successful, they could earn £312m in fees according to a report they have recently released.
Bankers that have helped to provide financial advice and broking services could also earn £100m in fees if a deal is signed. A further £180m is set to be paid to banks providing financial agreements used to pay for the deal.
The G4S has also recently received interest from Allied Universal, one of the largest security firms in the US.
G4S are trying to keep their shareholders happy after rejecting GardaWorlds previous bid. However, many are open to a takeover at a higher price.
To read the full article you will need to be subscribed to the Financial Times.
Private outsourcing firms Serco and Sitel providing the NHS Test and Trace scheme in the UK doesn’t have a penalty feature for under-performance in the contract.
After recent issues with testing services being under provided, many people are questioning why the contract never featured an under-performance penalty to avoid a situation like this.
Many perceive the penalty law as unenforceable under the English law. This is based on the 2015 Supreme Court Judgement where the penalty law is perceived as "ancient."
Nokia has signed a five year contract with Google in order to improve efficiency with the use of Cloud.
The deal will help Nokia expand its capacity for collaboration and innovation whilst cutting costs and escalating its global digital transformation efforts.