Satellite firm Oneweb relaunched after UK government bailout November 20, 2020 Troubled satellite firm Oneweb has formally emerged from bankruptcy after it was rescued from collapse by the UK government and Indian billionaire Sunil Bharti Mittal. The low earth orbit satellite firm today said it has left Chapter 11 bankruptcy protection and is now targeting a return to flight on 17 December. It comes after the [...]
City grandee Michael Spencer pumps £11m into British cyber firm Glasswall November 20, 2020 City titan Lord Michael Spencer is said to be leading a £16m investment in cybersecurity firm Glasswall as he looks to cash in on rising demand for specialist security software. The billionaire Icap founder has agreed to anchor the fundraising round with a £11m cash injection through his private investment vehicle IPGL, Sky News reported. [...]
Chemistry won the vaccine battle, but logistics will win the Covid war November 20, 2020 We are in a global war with Covid-19. And as military wisdom has it, wars aren’t won with the best tactics but the best logistics. Media coverage around the two initial vaccines — from Pfizer and Moderna — has concentrated on their relative levels of effectiveness and the number of jabs on order. But positive [...]
Amazon ‘sacks dozens of staff’ on drone delivery programme November 19, 2020 Amazon has reportedly laid off dozens of employees working on its drone delivery programme as it looks to third-party firms to help kickstart its eagerly-awaited project. Staff in research and development and manufacturing have been made redundant after Amazon reached preliminary deals with two external companies to build component parts of its drones. Final terms [...]
UK tech visa applications jump as sector attracts top talent November 19, 2020 Applications to the Tech Nation visa rose almost 50 per cent this year as Britain’s booming tech sector continues to attract top talent from around the globe. The number of applications for the visa, which grants employees and founders in the tech sector the right to work in the UK for up to five years, [...]
Regulator issues warning on fintech Lanistar for unauthorised services November 18, 2020 Update: 9:07pm Friday 20/11: The FCA have withdrawn their warning after changes by Lanistar. The Financial Conduct Authority has accused the much-hyped fintech Lanistar of offering unauthorised financial services. Founded by Gurhan Kiziloz, Lanistar this week launched an influencer campaign claiming to be the “world’s most secure card”. But the regulator today has warned that [...]
Apple cuts App Store commission following developer backlash November 18, 2020 Apple is slashing the commission it takes from some purchases made through the App Store following widespread criticism of the charges. The tech giant takes a 30 per cent cut of most app and virtual goods sales, though this drops to 15 per cent for subscriptions that remain active for more than a year. But [...]
Ericsson boss backs rival Huawei after Swedish 5G ban November 18, 2020 The chief executive of Ericsson has come out in support of arch-rival Huawei after Sweden blocked the Chinese firm from building its 5G networks. Earlier this month Swedish regulators blocked 5G spectrum auctions after a court suspended part of its decision to ban Huawei over national security fears. But in a surprise move, Ericsson boss [...]
Levelling up: Sony takes over Oxford Circus station for Playstation launch November 18, 2020 London Underground is famed for its iconic roundels, but eagle-eyed commuters will notice something different about Oxford Circus station this week. Transport for London (TfL) has teamed up with Sony to give the Tube station a redesign, transforming the traditional signs into squares, triangles and crosses — the classic symbols of the Playstation controller. The [...]
Micro Focus shares jump as software firm issues upbeat update November 18, 2020 Shares in Micro Focus surged to their highest level since July this morning after the software firm said its full-year earnings margin would come in at the top end of expectations. The London-listed company, which helps customers maintain and update legacy IT systems, swung to a $1bn (£752m) loss in the first half due to [...]
