Uber considers minority stake sell-off for self-driving unit October 17, 2018 Uber is reportedly considering multiple offers for minority shareholdings in its self-driving unit, as the company attempts to resolve any high-cost ventures before it goes public next year. Sources told the Financial Times that Uber had received interest from several investors looking to buy a minority stake in its Advanced Technologies Group (ATG), which could see [...]
Apple taps US design tech Ember to track caffeine intake as it launches in the UK October 17, 2018 Design tech firm Ember has launched with Apple to monitor caffeine consumption inside the Health app using its smart mug, as the company arrives in the UK as part of its international expansion drive. Ember, the maker of a ceramic mug which uses heat control technology to keep drinks at a desired temperature, will now appear as [...]
Lyft onboards JP Morgan, Credit Suisse and Jefferies to lead its IPO October 17, 2018 US ride-hailing firm Lyft has hired JP Morgan, Credit Suisse and Jefferies as underwriters for its upcoming initial public offering (IPO), slated for an early 2019 debut. A source familiar with the matter told Reuters late last night that the three banks have been brought on board to lead the listing, after Morgan Stanley and Goldman [...]
How would you like to pay for that, madam? October 17, 2018 | City Talk The global payments industry is dramatically improving due to technology. Mobile has changed everything. Payments are getting faster and smarter. Competition is intense. And payments are revolutionsing markets in the developing world even faster than in the developed world. In just the next seven years, the McKinsey Global Institute estimates that widespread adoption and use [...]
Uber launches new UK safety features as employment appeal looms October 17, 2018 Ride-hailing firm Uber has today launched a slate of new safety features in the UK and 23 other European countries, as it heads towards a court of appeal hearing regarding workers' rights at the end of the month. The Uber app will now house a safety centre from which passengers and drivers can share their trip details [...]
UK foils more than 10 cyber attacks per week, says GCHQ October 16, 2018 The UK has faced more than 10 cyber attacks per week on average in the last two years, the National Cyber Security Centre (NCSC) today revealed, with most coming from “hostile” nation states. Since it became operational in 2016, GCHQ’s cyber crime defence centre has been forced to defend Britain against 1,167 threats, 557 of which [...]
Not everything was awesome at Instagram, co-founder says in first public remarks since stepping down October 16, 2018 Instagram’s Kevin Systrom said people do not leave their jobs “because everything is awesome”, three weeks after stepping down amid rumours of a fallout with Mark Zuckerberg. In his first public remarks since leaving the company, Systrom said there were reasons for his departure, but gave no details. Read more: Facebook loses $11bn after Instagram [...]
Tesla shares rise as SEC settlement gets nod of approval from US judge October 16, 2018 A settlement deal between Tesla, its chief executive Elon Musk and the US Securities and Exchange Commission (SEC) was today given the all-clear by a US judge. Musk had agreed to pay a fine of $20m (£15.1m) and step down from his role as Tesla chairman for three years, while Tesla also paid out a similar fine. The [...]
Uber set to be valued at $120bn when it goes public next year October 16, 2018 Ride-hailing giant Uber could be valued at $120bn (£90.8bn) as part of its upcoming public listing in 2019, skyrocketing from its last valuation in August. Several US banks have raised Uber's valuation ahead of its intended initial public offering (IPO), sources told the Wall Street Journal, which has been suggested for an early 2019 slot. Should [...]
Digital bank Oaknorth hires ex-Bank of England director October 16, 2018 Challenger bank Oaknorth has hired former Bank of England director Martin Stewart to join its advisory board. Working with the fintech as an independent adviser, Stewart was previously the director of banks, building societies and credit unions at the Bank of England. Oaknorth said it hopes that by bringing Stewart on board, it can better serve [...]
