Virtual reality is the future – but it turns my stomach November 21, 2016 I was lucky enough to try out Sony’s new virtual reality (VR) headset this month for its Playstation 4 video game console. It was the first time I had experienced VR since the mid-1990s, in the days of the mega-arcades in London’s Trocadero (now sadly defunct). This new generation of an old concept managed to [...]
Why space still has a reputation problem November 21, 2016 Space is the final frontier when it comes to people's knowledge, a panel of industry experts at the Confederation of British Industry annual conference has said today. The speakers admitted, although personalities like astronaut Tim Peake had helped to make the industry more popular, many people were still unaware of how wide the industry actually was. [...]
That’s far out: UK investment firm launches £80m space tech fund November 21, 2016 A UK investment firm has today launched an £80m space-tech venture fund. Seraphim Capital said the fund, which will focus on early-stage, space-related technology businesses, is the largest of its kind. The company expects to have raised the £80m over the next two quarters, and today announced a £30m investment from the British Business Bank alongside [...]
London needs to stay a welcoming hub for tech, says Facebook exec November 21, 2016 London needs to continue to open its arms to the tech sector, a Facebook exec has said today. Nicola Mendelsohn, vice president for Europe, the Middle East and Africa at Facebook, told the audience at the Confederation of British Industry (CBI) conference that it was important to keep looking "outwards and not inwards", adding: "We need to [...]
Ofcom outlines rules for its mobile 4G spectrum auction November 21, 2016 Communications watchdog Ofcom has ruled that BT/EE will not be allowed to participate in one of its upcoming auctions for mobile broadband airwaves. The regulator has set out its rules for next year's auction of 190 MHz of spectrum in the 2.3 GHz and 3.4 GHz bands – representing more than three-quarters of the 4G [...]
Facebook to create 500 jobs in the UK November 21, 2016 Facebook has said that it will be hiring an additional 500 employees next year when it opens its new base in London. The tech giant will be creating jobs in engineering, marketing, and sales at its new Fitzrovia headquarters. Nicola Mendelson, Facebook's European boss, said: "The UK remains one of the best places to be a tech [...]
Airbnb has made its biggest product announcement in its eight-year history – will it take off? November 21, 2016 Downtown Los Angeles was, until recently, an area more famous for Skid Row, but regeneration has brought trendy bars, foodie markets, and the likes of Urban Outfitters and Ace Hotels, creating a spot that feels not a million miles away from Shoreditch. This was the backdrop for multi-billion-dollar startup Airbnb’s biggest product announcement in its [...]
Powa founder Dan Wagner paid £50,000 to another company before administrators were called in on fintech unicorn November 20, 2016 The former owner of collapsed fintech start-up Powa Technologies paid £50,000 to a company he owned in January this year, shortly before administrators were called in to break up the company. Dan Wagner, the charismatic founder of the London-based firm, paid the money to Bright Station Ventures in January of this year, as was first reported [...]
Facebook to launch $6bn share buyback programme from first quarter of next year and accounting chief Jas Athwal to resign in February November 19, 2016 Facebook Inc will buy back up to $6bn (£4.8bn) of its shares, starting in the first quarter of next year. The social media behemoth's board of directors authorised the repurchase programme of Class A common stock, which does not have an expiration date, according to filings with the US Securities and Exchange Commission. Shares were [...]
Stay calm: The Sword of Damocles is not hanging over Britain’s fintech sector post-Brexit November 18, 2016 In times of uncertainty, it helps to stay calm and focused on the job at hand. At Innovate Finance, we see ourselves as the rational voice of the UK global fintech community. A big part of our job is promoting our members and fintech – not in a cheerleading capacity, but through rational analysis and [...]