Internet regulation plans ‘fall short’ for digital businesses July 4, 2019 Government plans to regulate tech firms will not do enough to secure the UK’s status as a hub for digital companies, businesses have warned. The Confederation for British Industry (CBI) said proposals laid out in a recent white paper risk falling short of the government’s ambition to create world-leading regulation. Read more: MPs set ultimatum [...]
Tesla shares rally as firm makes record number of deliveries July 3, 2019 Tesla shares rallied today after the tech company announced it delivered a record number of electric cars in the second quarter. Elon Musk’s firm delivered 95,200 cars in the period, sending shares up 6.4 per cent to $238.92, the highest price in almost two months. Read more: Tesla boss Elon Musk rebrands on Twitter as [...]
Huawei blacklist remains in place, US government staff told July 3, 2019 A top US government official has reportedly told staff in the commerce department that Huawei should still be treated as blacklisted, despite an apparent easing in tensions. In a surprise move, US President Donald Trump last week rowed back on previous measures by saying US companies would be allowed to trade with the embattled Chinese [...]
Competition watchdog launches probe into tech giants over digital advertising dominance July 3, 2019 The competition watchdog has launched an inquiry into major tech firms amid fears about their dominance in the digital advertising market. The Competition and Markets Authority (CMA) today said it has launched a market study into online platforms such as Facebook and Google, which are funded almost entirely by digital advertising. Read more: Hammond calls [...]
Erskine May is online – now even you can understand parliament’s arcane rules July 3, 2019 The UK government has allowed the “bible” of parliamentary procedure, Erskine May, to be published online – fully and freely accessible for the first time in the 175-year history of the book. Anyone with an internet connection can now explore the full intricacies of everything that goes on in Westminster, from “Absence, leave of” to [...]
Amazon to create 2,000 UK jobs in ‘clear vote of confidence’ post-Brexit July 3, 2019 E-commerce giant Amazon will create 2,000 new jobs in the UK this year, as it seeks to up its total workforce to almost 30,000 roles. Amazon said the new positions would include engineers, software developers, data scientists and experts in cloud and machine learning, along with a number of entry-level roles. Of those created, more [...]
UK regulator warns tech companies over cryptocurrency projects July 2, 2019 The UK finance regulator has warned Facebook to reject the mantra “move fast and break things” in relation to its libra cryptocurrency project, saying tech giants must “get it right the first time round”. Christopher Woolard, the executive director of strategy and competition at the Financial Conduct Authority, said regulators are facing issues that “could [...]
Social media ad spend growth plummets amid decline in trust July 2, 2019 Growth in advertising revenue for social media firms declined by roughly a half in the first three months of the year, in a sign of possible cooling in the digital ad market. Social media giants remain dominant in the online advertising sector, with ad spend rising 26 per cent year-on-year to just under $18bn (£14.2bn), [...]
Funding Circle shares dive as it halves revenue growth target July 2, 2019 Funding Circle’s shares collapsed today as it slashed revenue growth predictions in half this year, warning that demand for loans is waning amid an “increasing uncertain economic outlook”. The small business loans firm today warned that 2019 revenue growth will hit 20 per cent, rather than the 40 per cent it originally predicted. The peer-to-peer [...]
We need a Prime Minister who can channel the potential of Digital Britain July 2, 2019 Are we in danger of having a leadership contest about the future of our party, while completely missing the point about the future of our country? The two finalists in the Conservative leadership race are being quizzed endlessly about Brexit, tax and spend, public services, and their private lives. All these have some importance, of [...]