Monzo to roll out business bank accounts in revenue shake-up February 10, 2019 Digital bank Monzo will launch its first business accounts today, as the loss-making challenger attempts to find a more efficient way to generate revenue. The bank will open a waitlist, initially accepting only the first 100 applicants into beta testing. Monzo said it hopes to fully launch accounts for small businesses by the end of [...]
American Media to ‘thoroughly investigate’ blackmail claims made by Amazon chief Jeff Bezos February 9, 2019 American Media has said it will “thoroughly investigate” claims by Amazon founder Jeff Bezos after he released a statement claiming that the company's tabloid, the National Enquirer, had blackmailed him. In a statement on Friday, American Media responded to Bezos' claims and said it had acted lawfully. “American Media believes fervently that it acted lawfully [...]
Apple fixes FaceTime eavesdropping bug February 8, 2019 Tech giant Apple has said that a bug which allowed for eavesdropping on the firm’s FaceTime software has been fixed. The privacy bug, which allowed iPhone and Mac owners to eavesdrop in on recipients if they did not answer their call, was discovered by US teenager Grant Thompson. Apple said it would compensate the Thompson family [...]
Fintech startup Revolut’s controversial Valentine’s Day advert faces financial watchdog scrutiny February 8, 2019 A fintech startup under fire for a Valentine’s Day ad that has been accused of mocking single people is now facing a potential probe from the UK’s financial watchdog. Revolut’s Tube advert led to complaints online after the ad addressed people who had apparently ordered a takeaway for one last Valentine’s Day. Read more: It's about time: [...]
Amazon founder Jeff Bezos accuses National Enquirer of blackmail in feud over reporting of his personal life February 8, 2019 Amazon chief Jeff Bezos has accused the National Enquirer and its owner, American Media, of “blackmailing” him with the threat of releasing intimate photos and text messages. In a statement published on Medium, Bezos claimed that the tabloid had threatened to publish photos and messages between him and the woman he has been dating, Lauren [...]
Time to clamp down on the work-life double standard February 8, 2019 Ironically, it’s technology that will solve the very predicament it has created This year marks five years since legislation was broadened out to give all employees the right to request flexible working from their employer. What’s developed since then is a highly mobile workforce that has made the most of flexible working freedoms and the [...]
UK fintech unicorn Oaknorth to nail $440m round led by Softbank February 7, 2019 Japanese mega investor Softbank has led a $440m funding round in savings challenger Oaknorth, investing in the company via its $100bn Vision Fund. City A.M. understands the Clermont Group also participated in the round, which is expected to close tomorrow morning. The funding will be used to expand Oaknorth's SME loan origination and credit capabilities to banks and [...]
Legal artificial intelligence startup backed by Mike Lynch valued at $100m after funding round February 7, 2019 Legal artificial intelligence business Luminance has hit a $100m (£77m) valuation with backing from investors that include tech billionaire Mike Lynch. Luminance said today it had raised $10m in a series B funding round that valued the business at $100m. Backers include Lynch’s Invoke Capital, Talis Capital and Magic Circle law firm Slaughter and May. Lynch [...]
Twitter shareholders spooked by 2019 outlook despite strong full-year results February 7, 2019 Twitter shares were down eight per cent this afternoon as it announced mixed full year results peppered with strong financials for 2018 but weak forecasts for the year ahead. The social media giant was under pressure to beat analyst expectations after strong report cards from Facebook and Snap. But despite succeeding for the year ending [...]
What do you want to know about big data & AI in investment management? February 7, 2019 | City Talk A technological advance can impact — even transform — the global economy let alone a particular sector. The steam engine in the first industrial revolution, electricity in the second, and internet technology in the third fundamentally changed human history. Today, big data and artificial intelligence (AI) have the same transformative potential. When it comes to [...]