Tesla looks to strengthen with $2.3bn fundraising round May 2, 2019 Tesla will look to raise around $2.3bn (£1.76bn) by issuing new shares and debt, with chief executive Elon Musk pitching in $10m of his own cash to buy shares. The electric car maker said this afternoon it has filed with regulators to launch the fundraising, after it lost $700m in the first three months of [...]
AI-powered fintech chatbot Plum closes $4.5m funding round May 2, 2019 Money management chatbot Plum has raised a fresh $4.5m (£3.45m) in funding to bring it to a total raise of $6.3m, it confirmed today. Read more: Former HSBC trader's fintech startup raises £3.8m from the crowd VC outfit Venture Friends, along with the European Bank for Reconstruction and Development (EBRD), led the funding round for [...]
Defence secretary Gavin Williamson ousted from cabinet over Huawei security leak May 1, 2019 Defence secretary Gavin Williamson has been fired from the cabinet after an investigation into the leak of details of a National Security Council (NSC) meeting discussing Chinese tech firm Huawei. Prime Minister Theresa May wrote in a letter released today that "no other credible version of events to explain this leak has been identified". Read more: [...]
Shareholders call for Google parent Alphabet to be broken up May 1, 2019 A group of shareholders in Google's parent firm Alphabet has called for the company to be broken up, following a string of complaints against the firm regarding alleged human rights abuses and excessive founder dominance. Read more: Google parent Alphabet misses estimates as EU fine takes its toll The resolution, submitted by four members of [...]
UK is ‘nesting a dragon’ by allowing Huawei equipment in 5G network May 1, 2019 The UK will be ‘nesting a dragon’ if it allows Chinese tech firm Huawei to participate in its 5G network, a senior Tory MP has warned. Last week it emerged the government will give the green light for Huawei’s equipment to be used in non-core parts of the network, despite warnings from spy bosses over [...]
Facebook ditches blue design as CEO Mark Zuckerberg throws focus on privacy May 1, 2019 Facebook has ditched its trademark blue banner as it re-centres its tools around privacy following a year dogged by data scandals. Chief executive Mark Zuckerberg last night revealed plans to up his social network's focus on private messaging and groups, with a raft of redesigned features to pivot the platform towards a more private experience. [...]
Blockchain technology promises to change the world, but so far it has delivered very little May 1, 2019 Last month, I attended a debate in the Houses of Parliament, not on the legalities of the ever so tedious withdrawal agreement, but on cryptocurrency and blockchain. At first, I was surprised that a discussion on these topics only lasted an hour and a half considering that, although blockchain technology powers cryptocurrencies such as bitcoin, [...]
Levelling up: London investor Beringea backs e-sports firm Fnatic in $19m round May 1, 2019 Monica Vinader-backer Beringea has participated in a $19m (£14.6m) round for global e-sports brand Fnatic. The round was led by tech entrepreneur Lev Leviev of LVL1 Group, who also joins the board, with new and continued support from investors including Beringea, Blackpine, Unbound and Joi Ito. The Hackney-headquartered company will use the funding to bolster its place [...]
Former HSBC trader’s fintech startup raises £3.8m from the crowd May 1, 2019 Dozens, a challenger banking startup founded by a former trader from HSBC, closed a crowdfunding round of more than £3.8m on Seedrs yesterday. The firm had initially set a target of £3.5m, but exceeded that amount with more than 2,150 investors in 42 countries. Read more: Philip Hammond says UK fintech sector will attract talent [...]
Government to introduce new cybersecurity laws for internet-connected devices May 1, 2019 The government will roll out new laws to ensure household items that are connected to the internet are better protected from cyber attacks. Under new plans unveiled today, the government will consult on a series of potential measures to ensure products feature basic cybersecurity features. Read more: Cybersecurity firm Avast reports boosted revenue growth One [...]