Xiaomi posts sharp rise in revenue as it defies smartphone slowdown May 20, 2019 Chinese tech giant Xiaomi has bucked the downward trend in the smartphone market, posting a sharp rise in revenue for the first quarter. Read more: China's Xiaomi reveals 5G smartphone with sliding camera Revenue rose 27 per cent to ¥43.8bn (£5bn) in the three months to the end of March, while profit before tax rose [...]
Chipmaker Infineon suspends shipments to Huawei May 20, 2019 German chipmaker Infineon has reportedly suspended shipments to Huawei, becoming the latest firm to cut ties with the Chinese telecoms giant. Infineon’s decision to stop deliveries comes after the Trump administration blacklisted Huawei, which is the world’s second largest smartphone maker after Samsung, and Google restricted the company from some updates to the Android operating [...]
Game of Thrones fans rage at Chinese tech firm Tencent after episode delayed May 20, 2019 Chinese Game of Thrones fans expressed their outrage with tech firm Tencent this morning after it postponed the airing of the final episode of the fantasy series. Tencent Video which owns the broadcast rights to the HBO show in China was scheduled to air the episode at 9am Beijing time (1am GMT). However, an hour [...]
Fintech startup Wagestream picks up £15m from Balderton and Northzone May 20, 2019 London fintech startup Wagestream has today closed a £15m series A funding round, co-led by venture capital investors Balderton Capital and Northzone. The round was raised in addition to a credit facility of up to £25m Shawbrook Bank. At £40m, Wagestream chief executive Peter Briffett said the total amount raised marks the largest single social impact [...]
Monzo hits 2m customer milestone as fintech race heats up May 20, 2019 Digital banking darling Monzo's current account is set to surpass 2m customers today, as it races to catch up with London rival Revolut. The two fintech startups have been locked in an intense race to command market share in the nascent mobile banking sector, as well as to expand overseas. Read more: Monzo to roll [...]
Google suspends parts of business with Huawei after US ban May 19, 2019 Google has reportedly suspended some parts of its business with Huawei in the latest blow for the troubled Chinese firm. Google will suspend any business requiring the transfer of hardware and software products, except those covered by open source licences, Reuters reported, citing a source close to the matter. Read more: China threatens to strike [...]
HPE buys supercomputer firm Cray for $1.3bn May 17, 2019 Hewlett Packard Enterprise (HPE) has acquired US supercomputer manufacturer Cray in a huge takeover deal worth roughly $1.3bn (£1bn). HPE said it has signed a deal to buy the Seattle-based firm for $35 per share in cash, a premium on its closing price yesterday of $29.81. Read more: Ex-HP boss 'did not read all Autonomy [...]
Cyber criminals face travel bans and freeze on assets under new EU sanctions May 17, 2019 Cyber criminals will be hit with tough new sanctions under a new regime agreed today by EU member states. Read more: Being 95 per cent cyber-secure just isn’t good enough Attackers will be given travel bans and have their assets frozen as governments roll out new measures to crackdown on the rising problem of cyber [...]
Just Eat shares fall after Amazon leads $575m investment round in rival Deliveroo May 17, 2019 Just Eat shares fell eight per cent this morning after Amazon led a $575m (£450m) investment round in rival Deliveroo. Read more: Deliveroo to 'invest heavily' in London tech with Amazon's £450m Just Eat's shares dropped 8.3 per cent to 621p in early trading after the fund raising. Analysts at Peel Hunt said that the Amazon [...]
Amazon leads £450m Deliveroo funding round as startup expands London tech team May 17, 2019 Deliveroo today confirmed Amazon is leading a $575m (£450m) funding round in the food delivery business as it plans to expand its London engineering team with some of the cash. Read more: Amazon in talks to invest millions in Deliveroo The round, including money from existing investors T Rowe Price, Fidelity Management and Greenoaks, takes [...]