Owned-social networks are replacing Facebook as a way for brands to market to their communities November 27, 2018 Two months ago, I helped Blewbury in Oxfordshire become the first village in the UK to launch its own social network. We were inspired by the MP Matt Hancock, who during his tenure as digital minister launched a social network for his constituency. His decision to call it “Matt Hancock” attracted much media attention. But [...]
Uber fined by UK watchdog over data leak during 2016 cyber attack November 27, 2018 Ride-hailing giant Uber has been fined £385,000 by the Information Commissioner's Office, for failing to protect its customers' personal information during a cyber attack in 2016. The ICO said today that a series of "avoidable data security flaws" led to the leaking of information about 2.7m of its UK customers, including full names, email addresses and [...]
Five reasons why tech stocks are in trouble November 27, 2018 For months, technology stocks have been the holy grail for growth, with valuations reaching dizzying heights. So, considering that what goes up must come down, perhaps it’s not surprising that stocks started tumbling last week. Share prices for each of the five tech giants – Facebook, Amazon, Apple, Netflix, and Google (the so-called Faangs) – [...]
DEBATE: Was it right for MPs to use obscure parliamentary powers to seize Facebook documents? November 27, 2018 Was it right for MPs to use obscure parliamentary powers to seize Facebook documents? Kevin Craig, chief executive and founder of communications agency PLMR, says YES. There is something poetic about British politicians using one of the most archaic parliamentary powers to tackle a very modern policy challenge. Since the Cambridge Analytica story broke, Facebook has [...]
Airbnb pinches new finance chief from Amazon ahead of expected IPO November 26, 2018 Airbnb has hired a former Amazon executive to head up its finance team as it looks towards an expected listing in 2019. Dave Stephenson, a 17-year veteran of the online retail giant who most recently served as chief financial officer of the worldwide consumer unit, will join the accommodation platform in January next year. He also [...]
Spain’s ‘Airbnb for long-term rentals’ taps King’s Cross as its new global headquarters November 26, 2018 Spanish property tech startup Spotahome has picked out London’s King’s Cross as its new global headquarters, thanks to the UK’s reputation as a great source of highly-skilled digital talent. Spotahome’s chief executive Alejandro Artacho told City PM that he believes the capital to be the best place to channel growth and take the business global. [...]
Crypto mining firm Bitmain hit with $5m class action lawsuit November 26, 2018 The world's largest cryptocurrency mining hardware-maker Bitmain is facing a class action lawsuit in California, which is seeking $5m (£3.9m) in damages over allegations of unauthorised mining. Filed by lead plaintiff Gor Gevorkyan in California this month, the suit has alleged Bitmain used power from its customers during the initial set-up of its ASIC mining device to mine currencies without their knowledge [...]
Monzo confirms record-breaking UK fintech crowdfunding round November 26, 2018 Digital bank Monzo has today announced it will be heading back to the crowd for the last chunk of its series E fundraising round, with a target of up to £20m. The raise, first reported exclusively by City PM in August, will be the largest fintech crowdfunding round in the UK to date. Going live [...]
Mark Zuckerberg is a modern wartime chief executive November 26, 2018 Facebook was meant to revolutionise and make everything better wasn’t it? It was a friendly social networking platform that would allow us to share photos and videos, and stay in touch with those we needed to: friends, family, and the loved ones we were separated from by distances in time and geography. But the revelations [...]
Barclays fights off cyber attack attempts every day, says digital defence head November 26, 2018 Barclays fights off attacks from cyber criminals every single day, according to the head of the bank’s cyber security operations centre. Former Europol cybercrime centre head of operations Paul Gillen told City PM that the number of attempts against the lender each day was “substantial”. However, the attacks vary in degree with the most common [...]
