Recipe box company Gousto secures £30m funding July 15, 2019 Recipe box delivery company Gousto has secured £30m in a funding round led by London private equity firm Perwyn. Gousto will use the investment, which takes its total funds raised to more than £100m, to develop artificial intelligence technology. Read more: Gousto cooks up £18m funding and signs up body coach Joe Wickes The company [...]
Bitcoin continues to tumble after central banks attack Facebook’s Libra coin plans July 15, 2019 Bitcoin fell over 10 per cent over the weekend following criticism of Facebook’s proposed digital currency from powerful figures including US President Donald Trump and chair of the Federal Reserve Jay Powell. Read more: Trump dismisses bitcoin, saying cryptocurrencies aren’t money The world’s largest cryptocurrency had rebounded slightly to $10,344 shortly after 11am UK time [...]
US firms ‘could restart Huawei sales in two weeks’ July 15, 2019 The US may allow companies to resume sales to Chinese tech firm Huawei in as little as two weeks, according to reports, in a sign the easing of President Donald Trump’s crackdown could come into effect quickly. Trump has added Huawei to a trade blacklist, effectively banning American firms from doing business with the controversial [...]
Micro Focus chairman dumps £11.6m in shares July 15, 2019 The chairman of Micro Focus has cashed in around £11.6m worth of shares in the British IT firm, saying he wants to “diversify” his portfolio. Read more: Micro Focus boosts profit margin but revenue stalls Kevin Loosemore has sold 650,000 shares – approximately half his stake – to invest the cash elsewhere. “Until now, all [...]
Debate: Will the British Airways GDPR fine have a bigger impact than the Cambridge Analytica scandal? July 15, 2019 In financial terms the British Airways fine is a serious step-change in consequence
Data breach reports soar since GDPR, as firms fear mammoth watchdog fines July 15, 2019 The number of whistleblower reports to the information commissioner over data breaches have jumped 175 per cent since GDPR came in, according to research. People have become more vigilant about the handling of personal data, and more likely to report potential breaches, since the regulations were introduced in May 2018 according to law firm RPC. [...]
Revolut ‘to appoint Martin Gilbert as chairman in next few weeks’ July 14, 2019 Revolut is reportedly gearing up to appoint Martin Gilbert as its first ever chairman in a bid to strengthen governance and improve investor sentiment ahead of an upcoming fundraising. Gilbert, a former co-chief executive of Standard Life Aberdeen (SLA), was first confirmed as an adviser to chief Nikolay Storonsky in March. Read more: Revolut fights [...]
Government cybersecurity under scrutiny as staff lose hundreds of mobile devices July 14, 2019 Staff at government departments lost more than 500 mobile and laptop devices in the first four months of the year, sparking concerns hackers could gain access to a “goldmine” of data. Employees at nine departments, including the Ministry of Defence and the Foreign & Commonwealth Office (FCO), lost 508 phones, laptops and tablets between January [...]
Huawei plans ‘extensive’ US job cuts amid trade blacklisting July 14, 2019 Huawei is said to be planning extensive layoffs in the US as the Chinese tech firm grapples with the impact of President Donald Trump’s trade ban. The job cuts are expected to affect staff at the firm’s US-based research and development subsidiary Futurewei Technologies, which employs roughly 850 people across the country, the Wall Street [...]
British businesses split on Brexit ‘brain drain’ in tech industry July 12, 2019 More than half of British businesses fear the threat of a potential tech brain drain after Brexit, according to a survey by tech giant Salesforce. Almost 60 per cent of London firms believe they will lose access to digital talent once the UK leaves the EU, according to the software seller. Read more: These are [...]