Exclusive: Top fintechs slam regulators for slow progress on open banking December 20, 2022 A group of top fintech firms including Monzo and Wise have slammed UK regulators for a lack of progress on open banking today, claiming the “integrity and potential” of the regime in the UK is at risk.
Fortnite fined over £420m as video game makers face regulation December 20, 2022 Makers of videogame Fortnite have been fined a record $520m (£428m) by the US’s Federal Trade Commission (FTC). The fine is a two part penalty for Epic Games, the video game company behind Fortnite. The company was fined for tricking players into making in-game purchases and for storing children’s data without parental consent. The penalty [...]
Meta under fire may face £10m fine from EU December 20, 2022 Meta, Facebook’s parent company has been accused of flouting competition rules by an EU commission. If the charges are proven, they may face a penalty of up to £10m. Meta is likely in breach of the European Union’s anti-trust regulations. The EU’s preliminary review has found that Meta has tied access to the social media [...]
Tesla stock swings as Musk misbehaves December 20, 2022 Stock prices for Tesla have been unstable as CEO Elon Musk continues his streak of chaos on Twitter. Investors in Tesla have been critical of Musk’s new role in Twitter. His policies on the social media platform will backfire on the car brand, they claim. ““Customers don’t want their cars to be controversial. They want [...]
Drug developer files patents for cancer treatment which ‘outperforms’ AstraZeneca offering December 20, 2022 Drug development company Nuformix has reformulated and improved one of AstraZeneca’s top cancer drugs, piquing investor interest today. Shares in the London-listed firm jumped nearly a quarter to 35p per share by early afternoon on Tuesday. Nuformix, which focuses on fibrosis and cancer drug repurposing, announced that the drug, known as Olaparib, had “outperformed” AstraZeneca’s [...]
Collapsed crypto exchange FTX looks to claw back Bankman-Fried’s political donations December 20, 2022 The collapsed crypto exchange FTX is looking to claw back the hefty political donations made by its founder Sam Bankman-Fried as its new management team tries to recover customers’ cash and repay a long list of creditors. In a statement today, the firm said it had been approached by a number of recipients of “contributions [...]
Just Eat gets standard stock listing December 20, 2022 Food delivery app Just Eat switched to a standard listing on the London Stock Exchange. Previously, it held a ‘premium listing’. A premium listing comes with additional caveats and with the standard listing, trade for Just Eat stocks is easier. Along with its listing on LSE, it remains listed Euronext Amsterdam. The company holds 45 [...]
London City Airport – Looking to the Future in 2023 December 20, 2022 | Sponsored Message from Robert Sinclair CEO, London City Airport I wanted to start with a thank you to all the City AM readers that have flown through London City in 2022. There was a short spell, if you can remember it, at the start of the year when the prospect of travelling even across London, never [...]
UK government stumps up £12m to make 5G tech green and accessible December 20, 2022 The Department of Culture, Media and Sport is funding a £12m international project to make 5G telecommunication green and more accessible across the UK. The project named Towards Ubiquitous 3D Open Resilient Network (TUDOR) plans to use AI to improve the efficiency of 5G and in due course 6G infrastructures. TUDOR is led by the [...]
Elon Musk: Claim that poll about quitting was to catch bots is ‘interesting’ December 20, 2022 Elon Musk has called the idea that his poll on whether to remain Twitter’s chief executive was intended to catch bots “interesting”. Musk was replying to internet entrepreneur and political activist Kim Dotcom on Twitter who said: “I’m hoping that Elon did this poll as a honeypot to catch all the deep state bots.” Since [...]