The government must relax visa rules to safeguard our tech boom February 20, 2017 The UK digital technology sector is emerging as a global force. A record £6.7bn was invested in UK tech firms in 2016, more than any other European country. In contrast, the automotive sector received £1.66bn in investment. This record boom means the sector already accounts for 16 per cent of domestic output compared with 10 per [...]
Watch: The moment SpaceX’s Falcon 9 rocket lands gracefully back on earth at historic Apollo 11 launchpad February 19, 2017 Elon Musk's SpaceX has successfully launched a Falcon 9 rocket into space from the location where the Apollo 11 mission blasted off taking man to the moon for the first time. The take-off from Launch Complex 39A at Kennedy Space Centre in Florida followed an aborted attempt on Saturday due to technical reasons. The Falcon 9 rocket blasted [...]
Tech leaders call for new post-Brexit visa to avert talent crisis February 19, 2017 The UK's tech leaders are calling for a new visa scheme to avert a potential skills crisis in the industry caused by Brexit. The government should create a new minimum six-month high-skilled visa to ensure the fast growing sector has access to talent after the UK leaves the European Union, as new figures reveal a [...]
Deliveroo claims to have created over 6,000 gig economy jobs in first four years of operation February 18, 2017 Deliveroo has created over 6,000 jobs in the UK, according to a new study commissioned by the food delivery company as it reaches its fourth year since making its first delivery. The company saw UK orders increase by 650 per cent in 2016 as it undertakes a rapid pace of expansion. The company has created [...]
It’s time to turn to fintech to solve the late payment problem February 17, 2017 The UK is a nation built on small businesses, with SMEs accounting for a staggering 99 per cent of all businesses in the private sector. While many of these businesses thrive, a significant number suffer as a result of late payment, impacting their ability to invest and ultimately grow. Late payment is a chronic problem for [...]
Samsung boss Lee Jae-yong formally arrested by South Korean police over corruption allegations February 17, 2017 Samsung boss Lee Jae-yong has been arrested by police overnight over his role in corruption allegations, but the the mobile phone behemoth promises the truth will be revealed if Lee’s case goes to court. The news caps a torrid time for the world’s largest manufacturer of smart phones and South Korea’s biggest company, after the disastrous roll [...]
As loss-making Snapchat sets its valuation at up to $22.2bn, would you have to be mad to invest in its IPO? February 17, 2017 Chris Beauchamp, a senior market analyst at IG, says Yes. As the latest tech IPO to come to market, Snap, the parent company of Snapchat, offers the usual combination of coolness, hype and dubious fundamentals. The IG grey market in Snap continues to suggest that the stock will see a pop on the first day [...]
Uber goes on a charm offensive by offering drivers free English courses and tips on how to make more money February 16, 2017 Uber is making efforts to improve its app for UK drivers, as part of a new charm offensive, including offering free English courses. Transport for London (TfL) delayed its new English tests until September, but Uber has said it will offer free courses for its drivers ahead of then. The ride-hailing app will also now allow [...]
It turns out Snapchat’s IPO valuation is lower than we expected February 16, 2017 The company behind Snapchat has set a valuation for itself ahead of its IPO – although the figure is towards the lower end of expectations. In documents filed with the US Securities and Exchange Commission today, Snap, Inc said it plans to sell 200m class A shares at between $14 and $16, which it expects to generate [...]
Private equity giant Blackstone buys majority stake in London technology company Cloudreach February 16, 2017 Private equity giant Blackstone has announced a deal to acquire a majority stake in a London cloud technology company. Cloudreach provides cloud computing products and services for companies including BP, Pearson and Hearst Corporation. Founded in 2009, the company now has offices in seven countries and has a presence in both Europe and North America. [...]