IT consultant ordered to pay £50,000 after being accused of stealing Soho House members’ personal details
Startup Iris Automation raises $8m to help drones and air taxis avoid collision January 19, 2018 A US-based startup has closed an $8m (£5.8m) Series A funding round to propel the development of its collision avoidance system for commercial drones and “air taxis”. Iris Automation uses artificial intelligence, along with computer vision and “sensor fusion” to create a situational awareness platform for drones and air taxis to “enable their widespread use [...]
Amazon share price opens higher as Prime membership cost increases January 19, 2018 Amazon Prime customers in the US will now have to pay $12.99 (£9.37) a month for the service after the tech giant bumped up prices from $10.99. Shares in the company opened up more than one per cent. Students members will also face a monthly price rise of one dollar to $6.49. But users who [...]
Bitcoin fraud allegations: US derivatives regulator sues three cryptocurrency operations January 19, 2018 The US derivatives watchdog has filed charges against three separate cryptocurrency operators with allegations of fraud. The Commodity Futures Trading Commission (CFTC), charged New York resident Patrick McDonnell and his company CabbageTech with fraud, saying the defendants “preyed on customers interested in bitcoin and litecoin”. In the second case, the CFTC alleged Dillon Michael Dean [...]
The dollar (USD) trades lower as US government shutdown deadline looms January 19, 2018 The US dollar traded lower today ahead of a midnight deadline to fend off a government shutdown. The dollar index, which measures the greenback against a basket of major currencies, was down 0.3 per cent after hitting an earlier low of 90.564, on track for its fifth week in the red. Meanwhile, US 10-year Treasury [...]
Donald Trump banned from visiting Tower Hamlets in London January 19, 2018 US president Donald Trump has been banned from visiting the Borough of Tower Hamlets, just a month after Greenwich councillors made the same decision. Councillors in the East London area voted through a motion declaring it a “Trump-free zone”. It also called for the invitation for Trump’s state visit to the UK to be revoked. [...]
Focus On Aldgate: The shiny new towers of E1 are luring City bankers from their traditional west London hangouts January 19, 2018 Whitechapel or Aldgate? Whatever you call this area on the cusp of the City, it’s always been a dividing line between the bankers and proper East Enders. But that line is getting thinner and thinner every day. Skyscrapers now pierce the eastern sky from every angle, and the amount of development undergone in recent years [...]
Bitcoin regulation: The US SEC has “significant” concerns about bitcoin ETFs January 19, 2018 The US Securities and Exchange Commission (SEC) has seen growing interest for exchange-traded funds (ETFs) that hold value in cryptocurrencies, but the regulator has warned it there are “significant” investor protection issues that need to be looked at before such funds are offered to retail investors. In a letter, the SEC’s investment management division director, [...]
City of London Corporation chief says there will be fewer Brexit job moves for financial services than first thought January 19, 2018 The City of London Corporation’s policy chair has said the booming financial services industry looks set to lose considerably fewer jobs due to Brexit than originally thought. In an interview with Reuters, Catherine McGuinness said the forecast had perked up in the wake of an agreement between Britain and the European Union on the principle [...]
Oh crumbs: Shrinkflation hits Digestives as McVitie’s reduces pack size | City A.M. January 19, 2018 Packs of McVitie’s Digestives will become 20 per cent smaller by the end of this month. Responding to higher ingredients costs, Pladis, the Turkish owner of the biscuit brand will cut the pack size from 500g to 400g, with the first shrunken products appearing on the shelves at the end of January. “The rising cost [...]
Fever-Tree shares up again after rumours of a Unilver bid and positive analyst coverage January 19, 2018 Shares in mixer maker Fever-Tree briefly rose 18 per cent this morning on the back of takeover rumours and positive coverage from City analysts. Murmurings of a takeover plot by Unilever have appeared this week, though there was no indication there was an offer on the table. But the main share price driver today appeared [...]