How established firms can fight back against fintech startups and being “uberised” April 29, 2016 When a new species enters an ecosystem, it can be disastrous for the existing inhabitants. The same is true in business. Financial markets are awash with innovation – fintech rules the day. Established players, worried that they may suddenly get ‘uberised’, have been forced to sit up. Read more: Fintech is coming to take your banking [...]
British astronaut Tim Peake to control a UK-based rover from outer space April 29, 2016 British astronaut Tim Peake will control a UK-based rover as he orbits the earth from the International Space Station. The live space-to-ground test today involves Peake — who is located hundreds of miles away — operating the rover nicknamed "Bridget" in a specially built "Mars yard" at Airbus Defence and Space in Stevenage, Hertfordshire. The experiment will help researchers learn more about the [...]
Want to work in the tech sector? These are the UK’s highest-paying tech firms April 29, 2016 Thinking of going into finance? The tech sector just might pay better, if new research is anything to go by. It turns out that not only do tech giants such as Apple, Amazon and Google offer great benefits – free lunches, flexible holiday allowances, egg freezing – but the salaries they pay rival anything a bank can throw [...]
Baidu’s share price jumps in after hours trading after the company reports revenue to have soared April 28, 2016 Chinese search engine Baidu's share price jumped almost five per cent in after hours trading after the company reported strong financial results. Sometimes dubbed China's Google, Baidu reported first quarter total revenue had climbed 24.3 per cent year-on-year to 15.82bn yuan (£1.68bn). The company also said that online marketing revenue had risen to 14.93bn yuan in the three months [...]
Apple: Billionaire investor Carl Icahn has sold Apple stake on China fears April 28, 2016 Billionaire investor Carl Icahn has sold his stake in Apple, and it's China's fault. Icahn said that while Apple is a "great company" and chief executive Tim Cook is doing "a great job", he had sold his position in Apple. Speaking to CNBC he said that China's attitude towards Apple and the Chinese economic slowdown led him to sell [...]
Linkedin share price shoots up as earnings and revenue for the first quarter beat expectations April 28, 2016 LinkedIn's share price shot up by over 15 per cent in after hours trading, as the company beat expectations in its results for the first quarter. The professional networking website posted revenue of $861m (£589m), well ahead of its own expectation for the three months of the year, and marking a 35 per cent increase compared to [...]
Blockchain just expanded even further into the public sector as Credits and Skyscape Cloud Services announce partnership April 28, 2016 Blockchain technology has made another inroad into widespread adoption by public services. Credits, a blockchain infrastructure provider, has partnered with Skyscape Cloud Services, a UK cloud services provider, to deliver "Blockchain-as-a-Service" to UK public sector organisations. Credits' platform enables organisations "to quickly and easily build robust blockchains" that address the challenges of establishing provenance and authentication faced by many [...]
Mark Zuckerberg added $4bn to his fortune thanks to Facebook earnings sending stock soaring April 28, 2016 Facebook founder and chief executive Mark Zuckerberg has increased his wealth by a healthy $4.7bn (£3.2bn), despite taking home just a $1 salary. The social network's latest earnings pleased investors, sending stock soaring nearly 10 per cent and helping Zuckerberg add billions to his wealth. The additional cash in the bank (well, shares) helped the [...]
Samsung had the smartphone bump Apple was missing thanks to the Galaxy S7 April 28, 2016 Samsung and Apple have just demonstrated exactly how important the cycle of mobile phone production now is to their bottom line. Without the hype of a new device for Apple (the iPhone SE doesn't count), the tech giant experienced its first slowdown in more than a decade. Over at Samsung, it's a different story. Sales in the first quarter surged [...]
Peer-to-peer mortgage company LendInvest announces £40m warehouse funding line from Macquarie April 28, 2016 A peer-to-peer (P2P) mortgage lender has announced a new funding round worth £40m. The firm has signed a warehouse financing deal with investment bank Macquarie. LendInvest said the £40m, used to fund mortgages via its website, will allow it to grow and consolidate its position in the UK short-term mortgage market. Read more: Skype's founder just invested £17m in this [...]