Corporate sponsors review links to Duke of York’s Pitch@Palace scheme after disastrous interview November 18, 2019 FIRMS are under scrutiny over their support for Prince Andrew’s Pitch@Palace initiative, as the fallout from the Duke of York’s weekend interview regarding his relationship with convicted sex offender Jeffrey Epstein continues. Founding partner of the entrepreneurs’ mentoring scheme KPMG is said to have decided not to renew its sponsorship, which expired at the end of last month. It [...]
Trump administration grants Huawei another 90-day reprieve on trade ban November 18, 2019 US President Donald Trump’s administration has issued a fresh 90-day extension allowing American companies to continue doing business with controversial Chinese tech firm Huawei. In May the US added Huawei to a trade blacklist, citing concerns its technology could be used for spying by authorities in Beijing. Read more: Huawei rewards staff with $286m in [...]
TSB IT meltdown blamed on data centre test failure November 18, 2019 The IT meltdown that left nearly 2m TSB customers without access to online banking is set to be partly blamed on the company’s failure to test one of its new data centres. A long-awaited inquiry by City law firm Slaughter and May has concluded that the decision to test only one of the new data [...]
Microsoft overhauls cloud contracts amid EU data privacy crackdown November 18, 2019 Microsoft has unveiled changes to its commercial cloud contracts after EU regulators warned the company may be breaching data privacy laws. The European Data Protection Supervisor (EDPS) last month said it had “serious concerns” about Microsoft’s compliance with data protection rules and the use of its services by EU institutions. Read more: Amazon to appeal [...]
Airbnb secures deal to provide Olympic accommodation November 18, 2019 Holiday home rental company Airbnb has agreed a deal to become an Olympic partner, in a bid to reduce the cost of the games. Airbnb hosts will provide accommodation for athletes and Olympic officials as well as visiting fans at the Tokyo games next year, followed by Beijing, Paris, Milan and Los Angeles. Read more: [...]
UK tech firm IQE’s shares plunge after second revenue warning November 18, 2019 Shares in UK technology company IQE have plunged over 20 per cent after the firm issued its second revenue warning in five months. Read more: Shares in chipmaker IQE plummet as it warns Huawei ban will hit profits IQE, which makes parts for chips used in products made by Apple and various Asian manufacturers, said [...]
DEBATE: Is there a case for Labour’s ‘free broadband’ proposals? November 18, 2019 Is there a case for Labour’s ‘free broadband’ proposals? Miranda Hall, a researcher at the New Economics Foundation and co-author of forthcoming report on digital infrastructure for Common Wealth, says YES. Without internet you can’t look for a job, receive childcare and housing benefits, or keep in touch with friends. But across the UK, digital [...]
Gousto investor MMC Ventures reveals £100m scaleup fund November 18, 2019 MMC Ventures has today revealed the close of its first fund for re-investing in its own portfolio of mature companies at £100m. The Scaleup Fund will provide capital to current firms in MMC’s roster that have outgrown the firm’s other funds, such as Interactive Investor and Safeguard Global. MMC, which was an early investor in [...]
London’s fintech boom helps drive record year for US investment November 18, 2019 US venture capital firms have pumped record amounts of money into London and UK companies this year as flourishing fintech firms continue to charm investors, new data has revealed. American investors have been involved in $4.4bn (£3.4bn) worth of deals into UK firms so far in 2019, with London businesses accounting for more than three-quarters [...]
Spotify backer Northzone secures $500m November 18, 2019 Early Spotify investor Northzone has today announced its ninth fund at $500m (£387.5m), which it said was raised at “record speed”. The oversubscribed pot attracted both new and existing investors, as a result of increasing interest in European early-stage startups. It takes the total amount raised by the Swedish venture capital giant to €1.5bn (£1.3bn). [...]
