Gocardless nears $1bn valuation after latest funding round December 17, 2020 London fintech Gocardless is nearing unicorn status after its latest funding round amid a digital payments boom. The Alphabet-backed company announced it had raised $95m in its latest funding round led by the venture capital arm of Bain Capital, valuing the firm at over $970m. “This funding round demonstrates the strength of the business and [...]
Tide to introduce new business payroll service in 2021 December 17, 2020 Business fintech firm Tide has announced that is it to release its first payroll service via its banking app in early 2021. Tide Payroll will be HMRC compliant and will allow SMEs to conduct their payroll from within their Tide account with an all-in-one payroll service that will allow users to run payroll and pay [...]
Google faces multi-state antitrust lawsuit for ‘anticompetitive conduct’ December 16, 2020 The Texas attorney general has announced he will file a multi state lawsuit against Google on behalf of a coalition of states. In a video posted on Twitter attorney general Ken Paxton said: ““The state of Texas is filing a multi state lawsuit against Google for anticompetitive conduct, exclusionary practices and deceptive misrepresentations. Google repeatedly [...]
New biotech rapid-testing facility to help London ‘return to normality’ December 16, 2020 A biotech company, Biogroup is launching a new rapid-testing facility in London, which will boost testing capacity in the capital by 100,000 tests a week. Biogroup UK is setting-up an RT-PCR (RealTime Reverse Transcription Polymerase Chain Reaction) test service, initially via two pop-up testing centres in Marylebone and Notting Hill to detect the presence of [...]
Revolut launches Plus account as it expands fee-paying services December 16, 2020 Revolut is set to revamp its paid plans while also launching its latest subscription option, Revolut Plus. Revolut’s new Plus service will cost £2.99 a-month and will include theft and accident coverage alongside purchase protection up to £1,000 for a year. Under new plans Premium customers will be protected up to £2,500 while Metal customers [...]
Britain begins trials of Valneva vaccine December 15, 2020 Valneva will begin phase one and two UK trials of its coronavirus vaccine today, boosting Britain’s chances of wide-scale inoculation next year. The Scottish-based vaccine company will initially test its jab on 150 British volunteers in England. Early stage trials will attempt to prove whether the vaccine produces a safe and effective immune response against [...]
Twitter pulls ‘unsustainable’ Periscope app December 15, 2020 Twitter has announced plans to shut down its live-streaming app Periscope after seeing a decline in usage. The app has been in an “unsustainable maintenance-mode state… for a while”, Twitter said in a blog post. “Over the past couple of years, we’ve seen declining usage and know that the cost to support the app will [...]
Europe lays out new rules that could force the breakup of big tech December 15, 2020 Europe has laid out sweeping new tech regulation that could see big firms face huge fines in a further crackdown on big tech companies. The European Commission today set out two new pieces of legislation as it looks to curb the power of some of the world’s most popular firms. The EU has long had [...]
Toy subscription service Whirli raises £4m seed funding round December 15, 2020 A London-based toy sharing subscription service has raised £4m in its seed round led by Octopus Ventures just in time for Christmas. Rather than a usual subscription service, Whirli subscribers borrow toys instead of purchasing them and any unloved or outgrown toys can be sent back and swapped for another item. Whirli’s service, which starts [...]
Artificial intelligence: people – not robots – are in the driving seat December 15, 2020 | City Talk Like it or not, artificial intelligence (AI) is already part of our daily lives. From smartphones to Alexa virtual assistants, AI and its applications are accepted norms today.While we appreciate that AI can automate repetitive workplace tasks or even drive a car, its implications are much further reaching. Luminaries including Elon Musk and Bill Gates [...]