Artificial Intelligence is a threat to society, an EU committee (EESC) has warned June 1, 2017 Artificial intelligence (AI) could pose a threat to the fabric of our society, according to an opinion published last night by the European Economic and Social Committee (EESC). The EESC’s Workers’ Group, which is comprised of representatives from national trade unions, found 11 areas in which AI raises societal concerns – ranging from labour to [...]
It’s official: The UK has fallen to the bottom of the G7 for GDP growth June 1, 2017 Bad news for Theresa May ahead of the election: the UK’s GDP growth puts it right at the bottom of the G7. Growth figures published by Canada late last night confirmed what most economists already knew: the UK’s 0.2 per cent growth in the first quarter of this year put it next to Italy as [...]
Was Trump wrong to hire son-in-law Jared Kushner? June 1, 2017 With recent allegations about a ‘backchannel’ with Russia, was Trump wrong to hire son-in-law Jared Kushner? Sarah Kendzior, journalist and scholar of authoritarian states, says YES. Donald Trump is attempting to build a dynastic kleptocracy through abuse of executive power. Autocrats are typically paranoid and insular, relying on family and installing them in the government, [...]
These are the 100 most disruptive startups in the world (and a third are from the UK): Roman Abramovich-backed Storedot, AI chip maker Graphcore and cancer detection scientists at Grail top list June 1, 2017 A Bristol-based startup developing computer chips for artificial intelligence, an app for helping kids manage money, and a fintech just backed by Aviva, are among the UK startups to be named the most disruptive in the world. AI chip firm Graphcore was ranked second in the annual list identifying companies with the potential to “influence, [...]
KKR drives off with Q-Park after £2.6bn offer puts the firm in exclusive talks, beating an offer from Macquarie May 31, 2017 Car parks are more valuable than they look, if KKR’s latest deal is anything to go by. The behemoth investor is set to acquire Q-Park, a network of multi-storey car parks operating across northern Europe, after making a near-€3bn (£2.62bn) offer. Netherlands-based Q-Park, which owns more than 70 UK car parks, is currently owned by [...]
EU agrees new rules to increase access to venture capital funding for small and medium-sized businesses, including those listed on growth markets May 31, 2017 Small and growing companies should soon see increased access to venture capital funding, after the EU agreed yesterday on reforms to the European Venture Capital Funds (EUVECA) regulations. The changes will promote jobs and growth, according to the European Commission, by broadening the range of businesses which venture capital funds can invest in. They will [...]
After financial crisis hit, retail banks are building up their reputations (to “average”): These are the UK’s most and least trusted lenders | City A.M. May 31, 2017 The reputation of UK retail banks is growing, with Nationwide, Virgin Money and Halifax leading the way. But Royal Bank of Scotland, TSB and HSBC are trailing others in the latest UK RepTrak ranking, compiled by the Reputation Institute. The figures, based on more than 35,000 UK customer ratings collected in the first quarter of [...]
Irish government confirms plans to float €12bn-valued Allied Irish Banks in London and Dublin May 30, 2017 The Irish government has confirmed it will be floating state-owned Allied Irish Banks (AIB) in London and Dublin. The initial public offering (IPO) will see the government dispose of a 25 per cent stake in the lender. It is thought the float deal could value the bank at €12bn, which would make it London’s biggest [...]
The new space race: Private companies are getting into the business of space travel – and it could produce the world’s first trillionaire May 30, 2017 Five-minutes’ drive from Kennedy Space Center, among the marshes and pine trees of Merritt Island Wildlife Reserve, lies Shuttles Restaurant & Bar. On the back wall is a massive photograph of the Space Shuttle Atlantis, soaring into space on the back of an orange fuel tank. Bolted to its side are two white rockets, spouting [...]
Crossrail’s coming (a bit later than planned): Date for first Elizabeth Line train to enter passenger service pushed back until June 2017 May 30, 2017 The first Elizabeth Line services for London’s £14.8bn Crossrail project have been pushed back until next month, for thorough testing of the train to be completed. The first new train was meant to enter passenger service between Liverpool Street Main Line and Shenfield by the end of this month, but Transport for London (TfL) has [...]