Britcoin: Digital pound will not be introduced without a Parliamentary vote June 14, 2023 Lawmakers agreed that the digital pound, or ‘Britcoin’, should not be introduced without proper parliamentary scrutiny. Speaking in the House of Lords, Lord Forsyth said the notion that the Treasury and the Bank of England could introduce the digital pound “without having proper parliamentary scrutiny… is utterly ridiculous.” The Bank of England and Treasury are [...]
Vodafone and Three announce long-awaited £15bn UK mega merger June 14, 2023 Vodafone and CK Hutchinson, owner of Three, have announced their long-awaited UK merger today. The new group ‘MergeCo’, now the UK’s biggest mobile operator, was revealed this morning and is valued at £15bn, according to Sky News’ Mark Kleinman. MergeCo is 51 per cent Vodafone owned and 49 per cent CK Hutchinson owned. Vodafone chief [...]
Tech Week Day Two: Lack of diversity remains a black mark on UK tech’s track record of success June 13, 2023 In the last decade, London’s tech ecosystem has grown to encompass a diverse set of verticals: from AI, to fintech, climate tech and crypto. However, when it comes to improving the diversity of the people who make up the capital’s tech industry, progress has been slower. While many UK tech companies publicly say diversity is [...]
Tech experts support UN calls for global AI watchdog June 13, 2023 Tech experts have voiced their share in concerns over the safety of artificial intelligence (AI) this week, following world leaders’ calls for a global regulator. Antonio Guterres, secretary-general of the United Nations (UN), declared on Monday that he “would be favourable to the idea that we could have an artificial intelligence agency”, suggesting it could [...]
US competition watchdog follows UK and blocks Microsoft’s $68bn Activision swoop June 13, 2023 America’s competition watchdog, the Federal Trade Commission (FTC) has moved again to prevent Microsoft from acquiring Call Of Duty maker Activision Blizzard. The US regulator asked a court to temporarily block the $68.7bn (£54.7bn) merger, which it believes could significantly reduce competition in the market. In December, the FTC issued an initial legal complaint, saying, [...]
CMC Markets: Meme-stock army is losing interest as trading falls June 13, 2023 Trading platform CMC Markets warned of a slowdown in trading on its platforms today as it revealed profits had fallen beyond 40 per cent in the year to the end of March.
Coadec follows Silicon Valley Bank UK and goes for a new look June 12, 2023 On the day that Silicon Valley Bank UK traded in its old branding, the start-up group that helped save it from collapse in March has announced a refresh of its own.
London Tech Week: Sunak and Hunt’s charm offensive was no light touch June 12, 2023 Charlie Conchie, City PM investment editor, reflects on day one of London Tech Week. What’s a growth mindset and how can I get one? Solving the UK’s tech investment gap is not just tweaking rules and regulation, Chancellor Jeremy Hunt said yesterday, but also “looking at our mindset”. “That’s something I think we need everyone’s [...]
Oaknorth boss: Immigration barriers are threatening the UK’s fintech sector June 12, 2023 A lack of talent is threatening to choke off growth in UK fintech and ministers must do more to open up borders to workers, the boss of digital lender Oaknorth said today.
AI can help capital tackle climate threat, Sadiq Khan says June 12, 2023 Artificial intelligence (AI) can be deployed to help London tackle the threat from climate change, Sadiq Khan has said. The mayor of London has launched a review exploring how data and technology can help the capital thrive in a changing environment. At the opening of London Tech Week on Monday, Khan outlined how blistering heatwaves [...]
