DEBATE: Is there a future for tech hubs post-Covid? September 3, 2020 Is there a future for tech hubs after Covid-19? Gavin Poole, chief executive of Here East, says YES. For centuries, the success of London’s business landscape has been steeped in the clusters of industry across the city. Companies and entrepreneurs exist side by side, driven by a shared mission and passion, and an exchange of [...]
The tech export boom shows the UK is leading innovation at a crucial time September 3, 2020 The UK has been at the vanguard of technological change, with our tech creators, innovators and risk takers helping shape the digital world around us. Whether you are tracking your heart rate on a run, finding ways to be carbon neutral, taking education to the next level, or increasing financial inclusion, the UK’s tech businesses [...]
Dating app Bumble prepares for IPO above $6bn September 2, 2020 Dating app Bumble is the latest technology company to be reportedly preparing for an IPO that could come early next year. The app, which lets women make the first move, could seek a valuation of $6bn to $8bn, according to Bloomberg, citing people familiar with the matter. The report added that while Bumble is talking [...]
UK broadband speeds among the slowest in Europe September 2, 2020 The UK has tumbled further down the global broadband speed rankings to rate as one of the slowest countries in Europe. In an annual study of the average broadband speeds of 221 countries and territories, the UK dropped 13 places to rank 47th fastest in the world. Last year Britain placed 34th for average broadband [...]
Patreon valuation hits $1.2bn as it raises $90m in new funding round September 2, 2020 Patreon is now valued at more than $1bn as it announced it had raised $90m in a new funding round which it will use to expand internationally. Patreon, whose platform lets creators earn money from fans through a subscription service, said it had secured an additional round of $90m (£67.42m) in funding in a Series [...]
Facebook and Twitter take down Russia-backed accounts September 2, 2020 Facebook and Twitter have taken down a small network of accounts that were backed by a Russian influence operation, linked to interference in the 2016 US election. Facebook said the accounts were linked to Russia’s Internet Research Agency (IRA), which is close to the Russian government and accused of interfering in the 2016 US election. [...]
DEBATE: Should we be worried about a tech bubble? September 2, 2020 Should we be worried about a tech bubble, particularly in emerging markets? Tatjana Puhan, managing director and deputy chief investment officer at TOBAM, says YES. Over recent years, we see a clear trend of investors becoming exposed to higher concentration risk in specific sectors like technology. Having represented already a considerable risk exposure in major [...]
Science and tech has proved a damp squib in the fight against Covid-19 September 2, 2020 Few of us alive today have lived through a year so tumultuous, historic, and (yes, that word again) unprecedented as 2020. We are seeing the biggest health pandemic since 1918’s Spanish Flu; the biggest threat to the world economy since 1929’s Great Crash; and the biggest civil unrest in the US since 1967 — all [...]
Apple overtakes value of entire FTSE 100 September 1, 2020 US tech titan Apple today overtook the entire market capitalisation of the UK’s FTSE 100 companies. The iPhone maker’s market capitalisation topped $2.2 trillion (£1.6 trillion) today, overhauling the combined value of the UK’s blue chip index. Apple’s share price has leaped 75 per cent this year and last month the company became the first [...]
Moneyfarm records another year of losses and warns of more to come September 1, 2020 Digital wealth manager Moneyfarm reported another year of losses and warned the company could remain in the red for at least another year as it prioritises investment. The figures Moneyfarm reported a steady growth in revenue, up from £1.61m in 2018 to £2.72m in 2019. However the company posted losses of £13m and incurred a [...]