Uber under pressure as Chinese rival Didi enters UK July 7, 2021 Uber will come under pressure from yet another ride-hailing rival as China’s Didi prepares to launch in the UK in the coming weeks. Didi is said to have secured its first licences in Manchester and Sheffield and is set to begin services as soon as this month, the Daily Telegraph reported. The arrival of the [...]
Wise valued at £8bn in London’s biggest ever tech float July 7, 2021 Wise, one of Britain’s biggest fintech firms, has seen its valuation hit £8bn after listing on the London Exchange this morning, marking a major boost for the capital’s tech scene. Shares in the payments group, formerly known as Transferwise, began trading at £8 each in its eagerly-awaited stock market float. It follows an auction process [...]
Concerns grow as North America experiences warmest June on record July 7, 2021 North America experienced its warmest June to date with several cities in the U.S. and Canada recording a full 5 degree Celsius temperature rise above previous records, according to EU Earth observation program Copernicus. Despite a slew of rain and cloud in the UK last month, it was the second warmest June on record for [...]
Exclusive: London edtech firm Unibuddy raises $20m after pandemic boost July 7, 2021 London-based education technology firm Unibuddy has raised $20m (£14.5m) in fresh funding to help fuel its global expansion after a bumper pandemic year. Unibuddy, which allows prospective university applicants to chat with existing students and staff, raised the funds in a series B round led by Highland Europe, with further participation from Stride.VC. The company, [...]
UK small businesses rack up £3.5bn in Amazon export sales July 7, 2021 Small and medium-sized British businesses selling on Amazon recorded over £3.5bn in export sales last year, according to figures released by the tech giant. Amazon said more than 14,000 UK SMEs surpassed £100,000 in sales in 2020, while over 1,000 reached £1m in sales for the first time. The top five categories in which customers [...]
Deliveroo to create 400 new tech jobs after London stock market float July 7, 2021 Deliveroo will create 400 new tech jobs over the next year as the company aims to improve its service after a troubled stock market debut in London. The delivery giant is looking to hire across a range of roles, including software engineers, product managers, designers and data scientists. The vast majority of the jobs will [...]
Chinese-owned semiconductor firm buys Britain’s largest chip plant July 5, 2021 A Chinese-owned semiconductor firm has secured a deal to buy the UK’s largest chip producer, sparking further concerns about the sale of key British assets to foreign buyers. Nexperia, a Dutch firm owned by China’s Wingtech, today said it has taken full ownership of Newport Wafer Fab (NWF), which produces chips used in a range [...]
US tech giants could face $28bn bill from global tax reforms July 5, 2021 US tech giants such as Google and Facebook could face a $28bn (£20bn) bill as part of radical plans to overhaul global corporation tax, new research has revealed. The Organisation for Economic Cooperation and Development (OECD) last week agreed on a new tax model to ensure companies pay tax in countries where they earn revenue, [...]
Facebook, Google and Twitter threaten to quit Hong Kong over new data laws July 5, 2021 Facebook, Google and Twitter have reportedly threatened to withdraw from Hong Kong if authorities push ahead with planned changes to laws around sharing private information online. The Hong Kong government is considering new rules that could make platforms liable for the malicious sharing of individuals’ information — a practice known as doxing. An industry group [...]
Dele Alli-backed esports firm Excel raises £17m from City investors July 2, 2021 Excel, a British esports franchise endorsed by Tottenham Hotspur footballer Dele Alli, has secured millions of pounds in funding from some of the City’s biggest investors. The rapidly growing gaming organisation, which competes in the League of Legends and Fortnite divisions, today announced a £17m funding round. JRJ Group, which bought a minority stake in [...]
