UK ploughs ahead with digital services tax despite US backlash July 11, 2019 The UK has vowed to plough ahead with a digital services tax on large tech companies, just hours after the US launched a probe into France for a similar levy. The government today published draft legislation for its next finance bill, which includes a new tax aimed tech giants such as Facebook, Amazon and Google. [...]
France passes digital services tax despite US investigation July 11, 2019 France has given final approval to a new digital services tax on tech giants, despite protests from the US that the move unfairly targets American companies. The three per cent levy will apply to digital revenue earned in France by multinational tech giants such as Facebook, Google and Amazon. Read more: France will tax Amazon [...]
Microsoft opens flagship London store on Oxford Circus July 11, 2019 Microsoft opened its flagship store on Oxford Circus today, marking the US tech giant’s first major retail location in Europe. The new store offers a string of hands-on customer experiences, including a McLaren Senna racing car experience, a gaming lounge and a digital learning hub offering coding lessons for children. Read more: Microsoft and Oracle [...]
Allowing Huawei into 5G networks would be fatal, warns former US security chief July 11, 2019 Allowing Chinese tech firm Huawei to participate in the UK’s 5G network would be fatal, a former US security chief has warned. Tom Ridge, former secretary of homeland security, said the incoming prime minister must sit down with American security officials to review the UK’s approach to the controversial company. Read more: US to grant [...]
Diversity of senior leadership in British venture capital fails to improve July 11, 2019 The number of women in senior leadership positions at venture capital (VC) firms in the UK has failed to increase in two years, despite a renewed focus on diversity. Read more: Women-led IPOs need to triple, and here’s why Representation of women at senior levels remains flat at 13 per cent compared to 2017, according [...]
Plans for internet regulation ‘could lead to censorship’ July 9, 2019 Government plans to crack down on internet firms over online harms could lead to the UK having the highest level of online censorship of all major democracies, a City law firm has warned. In its response to a recent government white paper, RPC said plans to hold businesses accountable for material posted to their platforms [...]
US to grant licences for sales to Huawei if national security is protected July 9, 2019 The US government will issue licences to American companies looking to sell to Huawei as long as there is no threat to national security, commerce secretary Wilbur Ross has said. Read more: Huawei will not pass information to Beijing, says Chinese ambassador President Donald Trump last month appeared to row back on his clampdown against [...]
Marriott International to be fined £99m for data breach July 9, 2019 Hotel chain Marriott is set to be fined more than £99m for a data breach that compromised the personal details of roughly 393m guests. The Information Commissioner’s Office (ICO) today announced its intention to hand down the fine following an “extensive” investigation into the breach. Read more: British Airways set for £189m fine for 2018 [...]
Blast off: Richard Branson’s Virgin Galactic plots public listing July 9, 2019 Space may be the final frontier, but Virgin Galactic is readying itself to overcome a fresh obstacle before launching into the great unknown: a stock market listing. Sir Richard Branson’s space-tourism venture is planning to go public as part of a deal with a special-purpose acquisition company (SPAC). Read more: Fifty years on from the [...]
Wework poaches Facebook executive as it gears up for stock market float July 9, 2019 Wework has poached senior Facebook executive Martin Ott as the firm looks to beef up its management team ahead of its highly-anticipated stock market debut. Ott, who previously served as Facebook’s managing director for central Europe, will join the flexible workspace firm as managing director for EMEA, City A.M. can reveal. Read more: EMA to [...]