London investor Dawn Capital leads $11m series A fundraise in tech firm Onna June 3, 2019 London venture capital firm Dawn Capital led a $11m series A funding round in data management platform Onna, which provides software to customers such as Facebook, Dropbox and Fitbit. The round was supported by Dropbox, Slack Fund and existing early investor Nauta Capital, and the funding will be used to grow Onna’s central information access [...]
Huawei to sell undersea cable business amid trade feud with US June 3, 2019 Huawei is set to sell its undersea telecoms cable business to a Chinese fibre optic cable manufacturer in the troubled tech firm’s first major deal since the escalation in its feud with the US. In a filing to the Shanghai Stock Exchange, cable giant Hengtong Optic-Electric said it had signed a letter of intent with [...]
German chipmaker Infineon buys rival Cypress for €9bn June 3, 2019 German chipmaker Infineon has signed a deal to snap up US rival Cypress Semiconductor for €9bn (£8bn) as it looks to fight back against a slowdown in the chip industry. Infineon said it will pay $23.85 per share for the company, marking a 46 per cent premium on Cypress’s 30-day average share price. Read more: [...]
As a global trading hub, the City is ready to face the challenges of a new digital era June 3, 2019 With changes afoot both domestically and when it comes to our relationship with Europe, it is a challenging and frustrating time for many parts of the City. What we must not lose sight of is that London – and specifically the City – has been at the centre of global trade for centuries, and has [...]
Rise in customers with multiple current accounts as fintech boom hits high street banks June 3, 2019 An increasing number of Britons now have products from a range of different financial providers, as the rise in fintech has shifted the focus away from traditional high street banks. Research by peer-to-peer lending firm Zopa revealed one in three Brits holds two or more current accounts, an increase of 36 per cent on the [...]
Amazon hits back at Hammond’s digital tax with high street venture June 2, 2019 Amazon is launching a programme to help digital businesses find success on the high street, with a series of pop-up stores across the UK. The move follows comments from chancellor Philip Hammond that the tech giant and other online behemoths hold a “near-monopoly” over physical stores, contributing to retail's economic downturn. The e-commerce giant will open [...]
One in five digital transformation projects fails as tech knowledge falls short June 2, 2019 One in five businesses has launched an unsuccessful digital transformation project, new research has revealed, as companies fail to get to grips with new technology. Figures published by digital services firm Econocom showed a sharp increase in the number of businesses undergoing digital transformation, but revealed 20 per cent are doomed to fail. Read more: [...]
Chinese state hackers accused of ‘rigging’ 5G tests to protect Huawei June 2, 2019 China has reportedly been accused of rigging 5G security tests in a bid to discredit western companies and protect Chinese telecoms giant Huawei. Beijing has been leaking details of security vulnerabilities in equipment made by Huawei’s rivals to a 5G testing team as it looks to bolster the reputation of the controversial Chinese firm, the [...]
Just can’t get the staff these days? Brush up on data security May 31, 2019 Unemployment is at its lowest rate since the early 1970s. This is good news for those preparing to leave the nation’s schools, colleges, and universities over coming months, as they begin their climb up the career ladder. Employers, however, may view the latest figures from the Office for National Statistics with concern. There may be [...]
DEBATE: Should we really be that excited about the launch of 5G? May 31, 2019 Should we really be that excited about the launch of 5G? Leon Emirali, an entrepreneur and investor, says YES. 5G is well worth the wait. While there is no doubt that extra-fast internet speeds will be welcomed by consumers, we must look beyond our own mobile devices to see the real benefits of the 5G revolution. [...]
