Monzo launches Premium account as it expands fee-paying services October 20, 2020 Monzo has today launched its premium service which comes with phone and travel insurance as it works to convince more customers to pay for its services. The premium card builds on Monzo Plus, the fintech’s £5 per month product it launched in July. Chief product officer Mike Hudack told City A.M.: “Monzo Plus gives us [...]
Zoom and Instagram brand values jump as tech firms get Covid-19 boost October 20, 2020 Zoom, Instagram and Youtube have all swept into the rankings of the world’s 100 most valuable brands for the first time this year as the pandemic sparked a major boost for tech companies. Social media and streaming companies have enjoyed booming demand as millions of people have been forced to stay at home during the [...]
Russia on cyber offensive to sabotage Olympic Games in Tokyo October 19, 2020 Dominic Raab today said there have already been attempts by Russian military intelligence to disrupt the 2020 Olympic Games in Tokyo with malicious cyberattacks.
More important for US to be right than first on digital currency, says Fed’s Powell October 19, 2020 It is more important for the US to get the development of a cross-border digital currency (CBDC) right than to be first, Federal Reserve chair Jerome Powell said. Speaking to a panel discussion hosted by the International Monetary Fund, Powell said it was vital for the Fed to assess the impact of such a currency [...]
EU opens probe into Instagram over exposure of children’s data October 19, 2020 The EU has launched an investigation into Instagram over its handling of children’s data following accusations the platform exposed the contact details of millions of under-18s. The Irish Data Protection Commission (DPC) today said it was opening two probes into Facebook, which owns Instagram, over claims that users’ phone numbers and email addresses were made [...]
UK watchdog ramps up pressure on tech giants as it sets one-year ultimatum October 19, 2020 The UK competition watchdog has urged the government to step up plans for a new digital regulator as it warned it is preparing to take action against tech giants such as Facebook and Google. Andrea Coscelli, chief executive of the Competition and Markets Authority (CMA), said his organisation was “actively considering” potential enforcement cases in [...]
Tech Nation taps Boris Johnson’s brother to join board October 18, 2020 Tech Nation has hired Boris Johnson’s brother to join its board, becoming the entrepreneur body’s fifth new director in recent weeks. Jo Johnson, who was handed a peerage in July, will become a non-executive director at the government-funded organisation. Tech Nation chair Stephen Kelly said: “I’m pleased to welcome Jo Johnson onto the Tech Nation [...]
Instagram vows to tackle hidden celebrity ads after watchdog probe October 16, 2020 Instagram has pledged to do more to prevent hidden advertising on its website and app amid concerns that influencers are failing to make it clear when they have been paid to promote products. The Competition and Markets Authority (CMA) launched an investigation into Instagram over its failure to tackle the problem of hidden advertising. Facebook, [...]
London fintechs secure billions from US investors despite virus and Brexit uncertainty October 16, 2020 London fintechs have secured $3.6bn in venture capital investment this year with more than half coming from US investors. Fintechs received $2.2bn, more than 60 per cent of overall investment, through funding rounds with at least one US investor, according to data from Dealroom and London & Partners. It is nearly double the US funding [...]
Screenshot – City A.M.’s new weekly TMT column October 16, 2020 This new weekly column brings you all the biggest stories and trends in technology, media and telecoms This week: ** Media Moment of the Week: Piers Morgan makes a confession ** The OECD, Amazon and a terrible week for tech tax ** All streamed up: What’s next for Netflix? Media Moment of the Week “I [...]