Uber files to go public as losses mount April 12, 2019 Ride-hailing giant Uber has filed to go public in New York in an initial public offering (IPO) that could be one of the largest technology floats ever, while still losing billions. The firm reported an adjusted loss before interest and tax of $1.9bn for 2018, and forecast its operating expenses “to increase significantly in the foreseeable future”. Its operating [...]
Huawei insists its technology is ‘as secure as any’ as it hits out at US April 11, 2019 Huawei has insisted the security of its telecoms equipment is as secure as any of its competitors, as it hit back at the US’s calls for a global ban on the firm. “We are probably the most tested vendor in the world,” Huawei’s cybersecurity director Sophie Batas told reporters in Brussels, according to Reuters. Read [...]
Uber investors buckle up for lower IPO price after Lyft shares veer off course April 11, 2019 Uber may be planning to price its shares more modestly than expected in its eagerly-anticipated float as it looks to learn from the torrid trading of its smaller rival Lyft. Analysts have warned the ride-hailing giant may need to lower its expectations for its initial public offering (IPO), after Lyft’s poor performance sparked fears big tech [...]
Panasonic reviews plans for investment in Gigafactory battery plant with Tesla April 11, 2019 Panasonic is reviewing further investments in battery manufacturing at its Tesla Gigafactory site amid fears of declining demand for the high-performance electric cars. The move comes after local media reports stated the two companies had frozen plans to expand capacity at the Gigafactory 1 site in Nevada by a further 50 per cent. Read more: [...]
DEBATE: Are MPs right that the UK needs an independent watchdog to regulate internet sites? April 11, 2019 Are MPs right that the UK needs an independent watchdog to regulate internet sites? Ruth Manielevitch, vice president of global business development at Taptica, says YES. At a time when concerns over our data, privacy, and wellbeing on the internet are growing at a rapid rate, this new regulation would reassure millions of UK consumers [...]
Banking’s data revolution needs ethics as well as innovation April 11, 2019 With 2.5 quintillion bytes of data created every day, the exchange of information has become integral to the way we live. The opportunities data analytics can create for consumers are vast – as is the commercial potential. There are now more than 4,000 data brokers worldwide. Governments across the world are grappling with questions over [...]
The Economist branches out with new Birmingham tech hub April 11, 2019 The Economist is set to launch a new technology innovation unit in Birmingham as it looks to boost in-house support for its digital services. The new hub, which will be the company’s first UK site outside London, will house roughly 45 members of staff focused on development and support for the magazine’s website, mobile apps [...]
Startups eye bigger slices of the pie as venture deals scale up April 11, 2019 Venture capital investment into UK startups in the first three months of 2019 was around the same level as last year, as investors turned their focus to later-stage deals. More than £1.2bn has been invested since the start of the year across 161 deals, according to data published today by KPMG. Comparatively Germany was hit [...]
Cryptocurrency platform Coinbase launches Visa debit card April 11, 2019 Cryptocurrency platform Coinbase has launched a Visa debit card that allows customers to spend their digital currency in stores and online. When customers use the card, which is only available in the UK, Coinbase will convert the cryptocurrency into pounds, and transaction summaries and receipts will be recorded within a new app, which has also [...]
Fintech unicorn N26 under scrutiny from German banking regulator April 11, 2019 Digital banking starlet N26 is under scrutiny from German banking regulator Bafin, after reports emerged of fraudulent transactions and problems with the bank’s communications structure. Concerns about N26 were first reported in October by German newspaper Handelsblatt, before further inquiries by Bafin were said to have revealed numerous deficiencies at the fintech startup. N26, which counts Monzo, [...]