Uber set to be valued at $120bn when it goes public next year October 16, 2018 Ride-hailing giant Uber could be valued at $120bn (£90.8bn) as part of its upcoming public listing in 2019, skyrocketing from its last valuation in August. Several US banks have raised Uber's valuation ahead of its intended initial public offering (IPO), sources told the Wall Street Journal, which has been suggested for an early 2019 slot. Should [...]
Digital bank Oaknorth hires ex-Bank of England director October 16, 2018 Challenger bank Oaknorth has hired former Bank of England director Martin Stewart to join its advisory board. Working with the fintech as an independent adviser, Stewart was previously the director of banks, building societies and credit unions at the Bank of England. Oaknorth said it hopes that by bringing Stewart on board, it can better serve [...]
London business benefits scaleup Perkbox travels across the channel October 16, 2018 Employee engagement scaleup Perkbox, which taps companies such as Ikea, Odeon and Deliveroo to provide benefits and discounts to small business employees, has today made its first foray outside of the UK to launch in France. The London company, which has approximately 250 employees under its own wing, is set to open up a new [...]
Google joins the list of firms deserting Saudi conference over missing journalist October 16, 2018 Google became the latest name in a long list of high-profile companies to drop out of an investment conference in Saudi Arabia late last night, amid building criticism of the state's handling of a missing journalist. A well-known critic of Saudi Arabia's policies, US resident and Washington Post journalist Jamal Khashoggi was last seen entering [...]
Coinbase plans for Brexit with Irish expansion October 16, 2018 Cryptocurrency exchange Coinbase will today unveil the first stage of its Brexit contingency plans, opening up a secondary office in Dublin while preserving the heart of its operations in London. The new office, which will primarily house mostly support staff, is intended to act as the company’s European base as the UK prepares to exit [...]
Menswear styling tech startup Thread raises $22m October 16, 2018 Fast fashion startup Thread will today announce the close of its series B funding round at $22m (£16.7m), which includes backing from Balderton Capital, Beringea and H&M’s investment arm H&M Co:Lab. The round will also be complemented by a crowdfunding raise on Crowdcube later this year, providing everyday investors access to shares in Thread on [...]
Companies sign up to government’s 13-point plan to keep internet devices safe October 15, 2018 Centrica Hive and HP have become the first companies to sign up to new government guidelines designed to keep internet-enabled devices safe from hackers. The 13-point list asks manufacturers to ensure that personal data is protected and software kept up to date. Read more: Munich Re buys internet of things company Relayr in $300m dea [...]
With Amazon’s ‘sexist’ algorithm under fire, will AI ever be able to be an unbiased decision-maker? October 15, 2018 With Amazon’s ‘sexist’ algorithm under fire, will AI ever be able to be an unbiased decision-maker? Daniel Gilbert, founder and chief executive of Brainlabs, says YES. Some artificial intelligence (AI) will continue to use biased data; there’s a lot of it out there. But both the innovators in this space and regulation in AI ethics [...]
In the new age of cyber warfare, finance firms are on the front line October 15, 2018 Throughout history, the job of the nation state has been to protect citizens from a range of threats, be that disease, famine, or foreign invasion. In an analogue world, these threats were physical in nature and, as a result, mostly localised. The threat landscape is radically different in a connected, digital world. Critical infrastructures, from smart [...]
Why technology won’t transform every brand’s Fashion Week October 15, 2018 Now that this year’s Fashion Weeks in London, Milan, New York, and Paris have all come to a close, many people are questioning the role of a runway show in today’s age, and whether it could be brought into the twenty-first century. Some brands are embracing the latest technology to satisfy modern consumer demands by making [...]