Coronavirus: Government launches £500m Future Fund for startups May 20, 2020 Startups that have been impacted by the coronavirus outbreak will now be able to apply for emergency support under the government’s £500m Future Fund scheme. The fund, which opened for applications today, will offer UK-based startups convertible loans of between £125,000 and £5m to support continued growth and innovation across a range of sectors. The [...]
Facebook launches new shopping feature to help small firms move online May 19, 2020 Small businesses will be able to open a single online store selling products through Facebook and Instagram thanks to a new feature launched by the tech giant today. Facebook Shops, which will be rolled out over the coming months, allows customers to buy products through a firm’s business Facebook page or Instagram profile, or through [...]
Micro Focus revenue drops 11 per cent as coronavirus disrupts new sales May 19, 2020 Enterprise software company Micro Focus expects an 11 per cent drop in revenue for the first half of the year, following disruption to new sales activity. The figures Micro Focus expects to report revenue of approximately $1.45bn for the first half of the year, an 11 per cent fall from the same period last year. [...]
Huawei says ‘pernicious’ new US sanctions puts its survival at stake May 18, 2020 Huawei has slammed “pernicious” new sanctions rolled out by the US last week, warning they could put the Chinese tech giant’s survival at stake. “We expect that our business will inevitably be affected. We will try all we can to seek a solution,” Huawei’s rotating chairman Guo Ping said in a speech this morning. “Survival [...]
Covid-19 will boost London’s status as leading tech hub, says industry chief May 18, 2020 The coronavirus crisis will bolster London’s position as a leading global tech hub as society becomes increasingly reliant on the digital economy, a top industry boss has said. Russ Shaw, founder of London Tech Advocates, told City A.M. that the Covid-19 pandemic will “catapult London forward” and help cement the UK’s status as a “tech [...]
Alibaba’s Jack Ma steps down from Softbank board May 18, 2020 Softbank has announced that Alibaba co-founder Jack Ma will resign from its board, in the latest high-profile exit for the technology group. The resignation of Jack Ma, after 13 years on the board, is the latest departure of critics of Softbank founder Masayoshi Son’s pivot towards a £100bn investment fund. Ma did not give a [...]
The City View podcast: Why coronavirus is making the case for e-scooters May 15, 2020 London’s Olympic site now hosts a vast innovation campus, Here East, home to over 4,000 people working in technology, advanced manufacturing, transport and the creative industries. Subscribe to The City View Podcast: Apple / Google / Spotify / RSS It was a thriving, buzzing village but the lockdown has emptied its streets. CEO Gavin Poole talks about how they’re helping tenants and [...]
France to push ahead with tax on internet giants despite US anger May 14, 2020 France will push ahead with its tax on internet giants this year, its finance minister said today. In January France offered to suspend its tax on big digital companies’ income in until the end of the year while an international agreement on cross-border taxation was negotiated this year. “Never has a digital tax been more [...]
Domino’s slams Amazon’s £442m investment in Deliveroo May 14, 2020 Pizza takeaway chain Domino’s has slammed a watchdog’s decision to give the go-ahead to Amazon’s £442m investment in Deliveroo, saying the decision will harm competition and consumers. The Competition and Markets Authority (CMA) provisionally cleared the investment in April over concerns that Deliveroo could collapse without extra financial backing due restaurant closures during the coronavirus [...]
Donald Trump extends US Huawei ban by another year May 14, 2020 US President Donald Trump has extended his country’s ban on controversial Chinese tech firm Huawei for a further year. Trump last year declared a national emergency and signed an executive order banning US companies from using telecoms kit made by firms that posed a national security risk. The order, which is aimed primarily at Chinese [...]