New research warns fresh Digital Markets Unit risks stifling UK innovation July 6, 2022 A new report has warned that proposals to introduce a new Digital Markets Unit (DMU), housed at the Competition and Markets Authority (CMA), will have dire consequences for innovation, investment and dynamism in the digital sector.
Government is failing to incentivise chip manufacturers to remain on UK soil, say tech leaders July 6, 2022 The government is failing to properly entice semiconductor companies to remain on UK soil, tech leaders told ministers yesterday. Simon Thomas, CEO of Paragraf, a manufacturer of advanced semiconductors made of graphene, accused the Department of International Trade (DIT) of sending “mixed signals” and warned that the UK risks being side-lined as bullish efforts by [...]
OneWeb wins unanimous approval for ‘historic’ push into Brazil July 5, 2022 Taxpayer-backed satellite giant OneWeb has won unanimous approval from Brazil’s telecommunications watchdog for landing rights in the country, in a “historic” milestone for the company. It means the British communications darling can build satellite hubs known as gateways, critical pieces of infrastructure for solid satellite connection across Latin America and the Caribbean. The 15-year deal, [...]
EU set to overhaul listing rules as competition for tech IPOs intensifies July 5, 2022 The European Union is looking to overhaul listing rules to allow founders to retain more control after going public, in a bid to tempt more tech firms into floating in the bloc.
AstraZeneca strengthens cancer drug pipeline with up to $1.2bn deal July 5, 2022 AstraZeneca has strengthened its cancer drug pipeline the $100m (£82.5m) acquisition of a clinical-stage T-cell engager, which will be used to develop medicines for lymphoma. The famed Covid-19 vaccine maker inked a deal which will see the T-cell engager TNB-486 as well as the owning company TeneoTwo fall under its wing, with promises of further [...]
Apple’s retail arm feels sting of store closures as tech giant posts humble growth in UK accounts July 4, 2022 Total turnover for Apple’s Retail UK, Europe and UK team climbed a humble two per cent to £2.3bn in 2021, with total operating profit up 24 per cent to £730m. It comes as Apple Retail UK continued to see the impacts of the pandemic, with turnover at £972m compared to £1.1bn for 2020, as a [...]
Shoppers offered shares: WeShop races towards IPO as British tech star launches world’s first community-owned e-com platform July 4, 2022 The world’s first community-owned social ecommerce platform has gone live, offering shoppers shares in the group every time they make a purchase. The new platform, launched by British tech star WeShop is launching itself, plans to give away up to 90 per cent of its business to shoppers, and aims to list on the Nasdaq [...]
Internet jobs for less than £4 per hour: How ‘microwork’ is exploiting thousands of Brits July 2, 2022 An emerging form of internet working, dubbed ‘microwork’, is exploiting thousands of UK workers who in many cases are earning less than £4 an hour. ‘Microwork’ is a form of work on digital platforms in which short tasks are assigned to workers who are paid piece wages for completing them. This can consist of coding data to [...]
Chrysalis shares plunge amid tech sell-off frenzy June 30, 2022 Asset manager Chrysalis saw its share price plunge in the first half of the year after its tech heavy portfolio was battered by soaring inflation and a sharp fall in valuations.
EU consumer groups come after Google for account sign-up settings in GDPR row June 30, 2022 A European coalition has come after Google for harvesting user data via account sign-ins and undermining General Data Protection Regulation (GDPR).