Don’t be fooled by the Tesco Bank hack – Hackers are more likely to go after firms outside of financial services November 9, 2016 Despite the recent high profile hack on Tesco Bank, cyber criminals are increasingly unlikely to target financial services firms. The Tesco Bank attack – branded unprecedented by top regulators – runs against the trend for hackers to focus on non-banks with lower levels of cyber security, City law firm RPC has warned. According the law firm data [...]
Here’s what tech stocks are doing after Trump’s win November 9, 2016 Shares in Google parent Alphabet, Apple and Amazon were down more than two per cent in pre-market trading on Wednesday after Donald Trump clinched victory from Hillary Clinton to become the next President of the United States. Many of the firms hold billions of dollars in profits offshore so they don't have to pay a 40 [...]
Hired raises another $30m to recruit tech talent for Facebook, Uber and top tech companies November 9, 2016 Recruitment startup Hired has landed a new round of funding just months after it last raised cash, City PM can exclusively reveal. The Ontario Pension Board and wealth advisory firm Glenmede Trust, both of which already have a stake in the firm via venture capital (VC) investments, are among new investors to put $30m (£24.2m) into the startup, [...]
European tech startups just got a major €1.6bn boost November 8, 2016 Brussels is launching a fresh fund to boost investment in startups across Europe which is expected to create more than a billion euros in capital ready to be put into up-and-coming technology firms. The European Commission will commit up to €400m (£357m) to the European Investment Fund's (EIF) new fund-of-funds and will look for three times more investment from institutional investors to make up to [...]
Entrepreneurs must be nimble in the face of cyber risks November 8, 2016 Chancellor Philip Hammond announced last week that, over the next five years, the government will invest £1.9bn in trying to tackle cyber attacks. There’s an argument that a sizable chunk of this funding should be directed towards stopping the problem at source abroad, but for UK-based entrepreneurs, their fight against cyber crime will necessarily be [...]
National Crime Agency launches criminal investigation over Tesco Bank fraud attack November 8, 2016 The National Crime Agency (NCA) has launched a criminal investigation into the recent fraud attack on Tesco Bank. The National Cyber Security Centre (NCSC) said it was working with the NCA and Tesco Bank, as well as other groups, and said it was "providing direct assistance to the company at their request, including on-site assistance". Tesco Bank uncovered [...]
Tesla is ramping up production by buying a German company November 8, 2016 Tesla has taken action to address its production problems (too much demand. not enough supply), snapping up a German manufacturer to help it build its electric cars. Grohmann Engineering will help it hit a target of producing 500,000 cars a year by 2018, Elon Musk's company said today, and it will become Tesla Grohmann Automation. Read [...]
Karhoo, an Uber rival people have barely heard of, has closed down November 8, 2016 Kar-Who? An ambitious startup hoping to challenge Uber in the hotly contested world of ride-hailing has closed down just months after it launched in London. Karhoo, founded by British entrepreneur Danial Ishag but based in New York and backed with $250m (£201.8m) from investors, has been consigned to the scrap heap, it said today, after burning through that cash. [...]
Facebook’s in more trouble with the UK data regulator over WhatsApp plans November 8, 2016 Facebook has run into more trouble with the UK's data regulator over plans to share personal data from WhatsApp and has "paused" things as a result. The social media giant plans to monetise the hugely popular messaging app by letting businesses communicate with users. This will involve WhatsApp data being shared with Facebook, however, that could [...]
Now Deliveroo drivers are launching a bid for greater workers rights November 8, 2016 Drivers delivering food for restaurants through Deliveroo are seeking greater workers rights following a high-profile court case which handed Uber drivers worker status. A group of drivers has asked the startup to recognise the union and give it collective bargaining rights over issues such as pay and hours, the BBC reports. Read more: The government wants "flexibility [...]
