Government must do more to protect UK from cyber attacks, MPs warn June 5, 2019 The government has not done enough to protect the UK from the growing risk of cyber attacks, MPs have warned. The influential Public Accounts Committee (PAC) today published a report criticising the government for not making sufficient progress in its cybersecurity strategy. Read more: Less than one per cent of cyber crimes lead to prosecution [...]
Softbank earns $11bn for selling some of its huge Alibaba stake June 4, 2019 Japan’s Softbank will book a pre-tax profit of $11.1bn (£8.75bn) for selling part of its stake in Chinese ecommerce giant Alibaba. The sale forms part of a three-year-old deal to sell assets in order to buy British chip designer ARM for $32bn in 2016. Read more: Uber IPO: Shares slide on second day of trading [...]
Trump: US and UK will reach an agreement on Huawei June 4, 2019 US President Donald Trump has said his country will be able to work out any differences with the UK over Chinese tech firm Huawei. Read more: Huawei to sell undersea cable business amid trade feud with US Speaking to reporters in London during a three-day state visit to the UK, Trump denied the US would [...]
Shares fall in Google parent Alphabet as Justice Department probe looms June 3, 2019 Shares in Google parent Alphabet took a beating this afternoon after reports that the company is about to be hit with a competition investigation. The company tumbled more than six per cent as markets opened in New York, its biggest drop since 30 April when it showed low revenues in its financial results. Read more: [...]
Swansong: Is Apple about to kill iTunes at WWDC 2019? June 3, 2019 If reports are true, iTunes could be about to play its last ever track at Apple’s WWDC 2019 event tonight. The beloved music player has been going strong for 15 years since its introduction in 2004. Read more: Apple takes on Netflix with TV streaming service But Apple CEO Tim Cook wants to boil it [...]
London fintech player Worldremit raises $175m in series D funding June 3, 2019 London fintech startup Worldremit has raised $175m (£138m) in a series D funding round led by TCV, Accel and Leapfrog Investments. The cash will fund Worldremit’s plans to grab a greater share of the world remittance market, which was worth $689bn last year. Read more: Fintech startup Worldremit poaches former Paddy Power chief as its new boss [...]
Invest in green energy, urges minister, as financial risks of climate change ‘too important to ignore’ June 3, 2019 Pensions minister Guy Opperman has urged fund managers to “do the right thing” and put money into renewables. Read more: Shell switches 700,000 customers to renewables as it rebrands First Utility Speaking in London, he said pension and investment managers must take their environmental responsibilities seriously to help fight global warming. Opperman said: “The financial [...]
London investor Dawn Capital leads $11m series A fundraise in tech firm Onna June 3, 2019 London venture capital firm Dawn Capital led a $11m series A funding round in data management platform Onna, which provides software to customers such as Facebook, Dropbox and Fitbit. The round was supported by Dropbox, Slack Fund and existing early investor Nauta Capital, and the funding will be used to grow Onna’s central information access [...]
Huawei to sell undersea cable business amid trade feud with US June 3, 2019 Huawei is set to sell its undersea telecoms cable business to a Chinese fibre optic cable manufacturer in the troubled tech firm’s first major deal since the escalation in its feud with the US. In a filing to the Shanghai Stock Exchange, cable giant Hengtong Optic-Electric said it had signed a letter of intent with [...]
German chipmaker Infineon buys rival Cypress for €9bn June 3, 2019 German chipmaker Infineon has signed a deal to snap up US rival Cypress Semiconductor for €9bn (£8bn) as it looks to fight back against a slowdown in the chip industry. Infineon said it will pay $23.85 per share for the company, marking a 46 per cent premium on Cypress’s 30-day average share price. Read more: [...]