Linkedin to cut 960 jobs in pandemic restructuring July 21, 2020 Linkedin is to cut around 960 jobs, or six per cent of its workforce, as it struggles to maintain demand for its products during the pandemic. The Microsoft-owned professional social network helps workers find new roles and recruiters source fresh talent. The impact of the coronavirus pandemic on global employment has left Linkedin with falling [...]
Robinhood cancels launch of its investing app in the UK July 21, 2020 Commission-free stock trading app Robinhood has postponed its UK launch indefinitely. The tech giant told people signed up to its UK waiting list that it had paused its expansion ambitions to focus primarily on its home market in the US. It follows a City PM scoop last month which revealed Robinhood had pushed back the [...]
Soundcloud founders launch e-bike subscription service July 21, 2020 The former founders of Soundcloud have launched an e-bike subscription service, backed by European investors. The service, Dance, is co-founded by Soundcloud founders Eric Quidenus-Wahlforss and Alexander Ljung, together with the co-founder of website builder Jimdo, Christian Springub. Quidenus-Wahlforss and Ljung are known for co-founding Soundcloud as chief technical officer and chief executive respectively. Quidenus-Wahlforss [...]
Hydrogen holds the keys to unlocking a zero carbon future July 21, 2020 Today, we should have been celebrating the opening ceremony of the Tokyo 2020 Olympic Games. Following their postponement to 2021, the Games will make history for being the first Olympiad to take place outside of the four year cycle since the modern Olympics began in Athens in 1896. They will also make history for another [...]
MPs criticise government for slow coronavirus misinformation response July 21, 2020 MPs have lashed out at the government over its failure to respond to concerns regarding online harms during the coronavirus pandemic, calling for legislation to be introduced as a matter of urgency. Members of the Digital, Cultural, Media and Sport select committee published a report today in which they pushed the government to name the [...]
Revolut backer Balderton sinks £8m into detergent startup Smol July 21, 2020 Detergent delivery startup Smol has today closed an £8m funding round, led by London venture capital giant Balderton. The funding was supported by Jamjar Investments, the venture capital firm co-founded by the founder of Innocent Drinks. Launched in 2018 by former Unilever employees Paula Quazi and Nick Green, Smol delivers laundry and dishwasher detergent in [...]
IBM earnings beat estimates on cloud strength July 20, 2020 IBM posted quarterly revenue and profit above analysts’ estimates today, riding on the strength of its high-margin cloud computing business. IBM has jettisoned some of its legacy business to focus on cloud computing, an area that has seen a lot of action in recent years as companies ramp up their digital shift to control costs [...]
Softbank pulls investment from Credit Suisse funds July 20, 2020 Softbank is said to have pulled an investment from Credit Suisse’s supply chain finance funds, after the Swiss bank reviewed the Japanese giant’s role in the funds. The Swiss bank launched the review after reports last month that Softbank had injected $500m into some of Credit Suisse $7.5bn range of funds, which in turn invested [...]
Uber to assist officials with coronavirus test and trace scheme July 20, 2020 Uber has launched a service to give health officials access to data on its drivers and riders as part of coronavirus test and trace schemes. Offered free of charge in any country where Uber currently operates, the service will provide health departments with data about who used Uber’s services and when, and allows health agencies [...]
Physical? Hybrid? Virtual? Companies re-imagine AGMs for 2021 and beyond July 20, 2020 | City Talk Could the annual general meetings (AGMs) of 2021 and beyond look and feel very different? As companies start to consider the future format of corporate set-piece events, so the possibility arises these often sparsely attended gatherings could begin to evolve into significantly more enlightening and engaging occasions. This year’s AGM season largely coincided with lockdown, [...]
