What Silicon Valley Bank’s collapse in the UK should tell the biggest banks March 13, 2023 It is, as they say, rather awkward timing. On Wednesday, Chancellor Jeremy Hunt was expected to deliver a paean to the tech industry – with investment incentives aplenty and no doubt lots of promises regarding our “world-leading” sectors. After the collapse of Silicon Valley Bank UK, though, it is more likely that the industry needs [...]
Collapse of Silicon Valley Bank UK ‘could have big impact on tech start-ups’ March 11, 2023 The collapse of Silicon Valley Bank UK (SVBUK) could have a significant impact on tech start-ups, it has been warned. The Coalition for a Digital Economy (Coadec), a non-profit campaigning for policies to support digital start-ups, responded to the overnight announcement from the Bank of England that it would apply to put SVBUK into a [...]
What’s going on at Silicon Valley Bank and why is it shaking UK banking stocks? March 10, 2023 Silicon Valley Bank (SVB) has built its reputation lending to some of the world’s most innovate start-ups and investors. But the Nasdaq-listed bank has now been rocked by what some fear could turn into a very old-fashioned bank run. Shares in the firm have plunged more than 60 per cent in two days and jitters [...]
WANdisco suspends shares over ‘potentially fraudulent irregularities’ March 9, 2023 Data firm WANdisco has suspended trading on the London Stock Exchange today after finding “potentially fraudulent irregularities” in its books that mean it may have overstated its revenues by $15m.
FCA mounts defence after being blamed for Arm’s London snub March 8, 2023 The Financial Conduct Authority has mounted a defence of its role in the botched charm offensive on British chipmaker Arm today after the firm revealed it would shun a London listing in favour of New York last week.
Darktrace warns of rise in ‘hacktivism’ and AI threats as profits fall 92 per cent March 8, 2023 Cybersecurity firm Darktrace reported a plunge in profits in the first half of its financial year today amid a rise in employer tax charges and a slowdown in new business. In a trading update on the six months to the end of December, the firm said operating profit had fallen 91.6 per cent to $577,000 [...]
Female tech founders bag £3.6bn despite wider investment slump March 8, 2023 Venture capital investment into tech firms founded by women jumped last year despite soaring inflation and volatility sparking a slowdown in funding across the sector, new figures reveal. Female founders shrugged off the downturn that hit the UK’s tech sector last year and bagged some £3.6bn of VC, up from £2.9bn the previous year, according [...]
AstraZeneca: UK-Swedish pharma giant almost doubled exports to Russia after invasion of Ukraine March 7, 2023 Anglo-Swedish drugs giant AstraZeneca nearly doubled its exports from Sweden to Russia after the Kremlin launched its full-scale attack on Ukraine, according to a report. Sveriges Radio (SR) – the country’s public service broadcaster – said that the FTSE 100 company had exported 2.2 billion Swedish krona (£174 million) worth of chemicals to Russia from [...]
Slack to offer users a ChatGPT AI tool which will write messages for them ‘in seconds’ March 7, 2023 Slack customers will get “new superpowers” after the app unveiled a ChatGPT AI tool aimed at boosting millions’ of its users productivity. The messenger service’s owner Salesforce has teamed up with ChatGPT’s developer OpenAI, a Slack customer, to offer the artificial intelligence chatbot to the system for the first time. ChatGPT is an AI chatbot [...]
London’s capital markets woes deepen as WANdisco eyes New York March 6, 2023 London’s ambitions to elevate its capital markets on the international stage were dealt a fresh blow today as data firm Wandisco became the latest UK tech outfit to reveal it was eyeing a New York listing. In a statement this morning, the AIM-listed firm said it was in the “early stages” of scoping out a [...]