DEBATE: Will the ban on Huawei technology benefit the UK in the long run? July 22, 2020 Will the ban on Huawei technology benefit the UK in the long run? John Longworth, director general of the Centre for Brexit Policy and chairman of the Independent Business Network, says YES. China represents a tiny percentage of UK exports and we are able, in the nick of time, to escape dependence on investment by [...]
Snap beats estimates after short-lived coronavirus bounce July 21, 2020 Snap has surpassed analyst revenue estimates for its second quarter, as advertisers cashed in on an initial boom in user numbers during the pandemic. The Snapchat parent said its daily active users (DAUs), which advertisers watch to measure its growth, rose 17 per cent to 238m in the three months to the end of June. [...]
Musk qualifies for $2.1bn payday after Tesla rally July 21, 2020 A prolonged bounce in Tesla’s share price means its chief executive Elon Musk has qualified for a $2.1bn payout, in his second award since May. The electric carmaker’s six-month average market capitalisation officially surpassed $150bn today, triggering the vesting of the second of 12 tranches of options granted to Musk in 2018. Musk, who is [...]
Facebook flags Trump post on mail-in voting July 21, 2020 Facebook today placed a so-called voting info disclaimer on US President Donald Trump’s post on mail-in voting, following criticism of the social network’s relaxed approach to regulating the President’s content. “Mail-In Voting, unless changed by the courts, will lead to the most CORRUPT ELECTION in our Nation’s History! #RIGGEDELECTION,” Trump wrote in the post. Nearly [...]
Apple to be carbon neutral for its entire business by 2030 July 21, 2020 Apple has said it will remove all carbon emissions across its supply chain and products by 2030, having already become carbon neutral in its corporate operations. The tech giant said its thousands of suppliers will be required to be carbon neutral within the next decade. It aims to achieve 75 per cent of this goal [...]
Linkedin to cut 960 jobs in pandemic restructuring July 21, 2020 Linkedin is to cut around 960 jobs, or six per cent of its workforce, as it struggles to maintain demand for its products during the pandemic. The Microsoft-owned professional social network helps workers find new roles and recruiters source fresh talent. The impact of the coronavirus pandemic on global employment has left Linkedin with falling [...]
Robinhood cancels launch of its investing app in the UK July 21, 2020 Commission-free stock trading app Robinhood has postponed its UK launch indefinitely. The tech giant told people signed up to its UK waiting list that it had paused its expansion ambitions to focus primarily on its home market in the US. It follows a City A.M. scoop last month which revealed Robinhood had pushed back the [...]
Soundcloud founders launch e-bike subscription service July 21, 2020 The former founders of Soundcloud have launched an e-bike subscription service, backed by European investors. The service, Dance, is co-founded by Soundcloud founders Eric Quidenus-Wahlforss and Alexander Ljung, together with the co-founder of website builder Jimdo, Christian Springub. Quidenus-Wahlforss and Ljung are known for co-founding Soundcloud as chief technical officer and chief executive respectively. Quidenus-Wahlforss [...]
Hydrogen holds the keys to unlocking a zero carbon future July 21, 2020 Today, we should have been celebrating the opening ceremony of the Tokyo 2020 Olympic Games. Following their postponement to 2021, the Games will make history for being the first Olympiad to take place outside of the four year cycle since the modern Olympics began in Athens in 1896. They will also make history for another [...]
Revolut backer Balderton sinks £8m into detergent startup Smol July 21, 2020 Detergent delivery startup Smol has today closed an £8m funding round, led by London venture capital giant Balderton. The funding was supported by Jamjar Investments, the venture capital firm co-founded by the founder of Innocent Drinks. Launched in 2018 by former Unilever employees Paula Quazi and Nick Green, Smol delivers laundry and dishwasher detergent in [...]