Nadine Dorries is to press ahead with the creation of a new digital competition watchdog that will have the power to levy multi-billion pound fines on US tech giants which abuse their dominance of the internet. The Culture Secretary is setting up a Digital Markets Unit that will be given statutory powers to help it…
Amazon has suffered its slowest growth for two decades, knocking $150bn (£120bn) off its value on Thursday, as the pandemic internet shopping boom ground to a halt. The online retail giant said revenues rose by 7pc in the first three months of the year to $116.4bn. This was the slowest growth since 2001, in the…
Twitter has launched a “poison pill” wrecking tactic in an effort to scupper a $43bn (£35bn) takeover bid by Elon Musk amid a battle for control of the social media titan. The company has put in place measures allowing it to flood the market with cheap new shares if Mr Musk attempts to buy up…
Elon Musk has vowed to fight for the “future of civilisation” after launching an audacious $43bn (£33bn) takeover bid for Twitter. The billionaire Tesla boss said he wants to take Twitter private because the platform – which has been criticised as a Left-wing echo chamber – is “important to the functioning of democracy”. Twitter’s board…
Apple suffered a widespread outage, knocking services such as Apple Music, iCloud and the App Store offline for some users and even affecting its internal corporate and retail systems. The problems prevented corporate employees from working from home and kept retail staff from completing tasks, according to workers. The outage hindered product repairs, swaps and…
The owner of Facebook has “no quarrel with the Russian people”, Sir Nick Clegg said, after the company was declared an “extremist organisation” by the Kremlin. Meta’s global affairs chief said the changes to its hate speech policies allowing death threats against Vladimir Putin only applied in Ukraine and were “focused on protecting people’s rights to…
One of Britain’s biggest technology companies is poised to snub Government overtures and float in the US, after regulators forced its owners to abandon plans for a $40bn (£30bn) sale. Arm, a microchip maker responsible for designs used by tech companies across the world, is expected to list in New York before the end of…
Tim Cook, the Apple boss, was paid close to $100m (£74m) last year, a huge increase on the previous 12 months, as the iPhone maker rocketed towards a $3 trillion valuation. His total pay for the year to September 25 was $98.7m, up from $14.7m, the Silicon Valley giant revealed in a US filing. The…
