Facebook investigated in Germany over suspected data protection breaches March 2, 2016 Facebook is being investigated in Germany over suspected data protection breaches. Germany’s Federal Cartel Office said it has opened an investigation into the US company on suspicion of using its market dominance to violate competition laws. According to Reuters, the watchdog said it suspected Facebook’s terms of service, setting out how it makes use of [...]
London augmented reality startup Blippar closes $54m funding round led by Malaysian government March 2, 2016 London-based augmented reality startup Blippar has closed a $54m (£39m) series D funding round, led by Khazanah Nasional Berhad, the strategic investment fund of the Malaysian government Blippar, which is best known for its work creating jazzy, interactive magazine covers for titles such as ShortList and the Radio Times, said it will use the cash to increase its [...]
Fintech Week 2016: How London can become the fintech capital of the world March 2, 2016 Events like last week's Fintech Week show the government's commitment to be more than just words. But there is plenty more the government can – and must – do to ensure London cements its place as the global leader in fintech. There are several short-term pragmatic steps they could take, like setting up centres of excellence in specific fintech streams, [...]
Facebook condemns “extreme and disproportionate” arrest of executive in Brazil over accusations WhatsApp failed to cooperate with drug trafficking investigation March 1, 2016 Facebook's Latin America vice president has been arrested in Brazil in connection with a case involving WhatsApp. Diego Dzodan was detained after the company failed to cooperate with judicial orders on an investigation into drug trafficking in Sergipe state. Police said he remained in custody for questioning in Sao Paulo state. Read more: Brazil is banning WhatsApp for [...]
Transferwise set for second round of fresh funding as expansion continues February 29, 2016 Online money transfer service Transferwise is closing in on a new round of funding, just 12 months after a $58m raising led by US venture capital firm Andreessen Horowitz. Transferwise still has around half of the previous rounds’ cash in the bank, City A.M. understands. Transferwise is in talks with big name investors including existing [...]
More details revealed on the EU-US Privacy Shield, the successor to Safe Harbour, regulations governing how data will be shared between the two regions February 29, 2016 Legal details on incoming regulations governing the flow of data between the EU and the US were published by the European Commission today, although experts are warning the new framework could be tougher to comply with than its predecessor and may not entirely clear up uncertainty for businesses. The EU-US Privacy Shield, which is replacing [...]
UK weather: This winter has been one of the warmest but wettest on record, thanks to Storms Desmond, Eva and Frank February 27, 2016 Anybody wanting to flaunt an expensive winter coat or chunky jumper this winter has been out of luck, because it's shaping up to be one of the warmest on record. According the early statistics from the Met Office, the average temperature in the UK this winter was 5.6c, making it the third warmest year since 1910 and [...]
Facebook’s Mark Zuckerberg tops poll of favourite technology chief executives, and Apple’s phone unlocking row with FBI has not dented view on Tim Cook either February 27, 2016 It may be almost a teenager, but we're still fans of Facebook, or the people behind it at the very least. Facebook's Mark Zuckerberg has topped a poll run by intelligence company Morning Consult as the technology chief executive the greatest number of people have a favourable opinion of, with 48 per cent saying they [...]
Barristers warned not to store confidential information in the cloud as US authorities can access it, putting UK legal privilege at risk February 26, 2016 Barristers are being urged to think twice about where they store their data, as the Bar Council has warned that information in cloud storage could be accessed without their permission. In a note to Bar Council members last night, the Bar Council IT panel advised that certain pieces of US legislation had the potential to allow [...]
Nintendo drastically slashes profit forecast due to strengthening yen and disappointing 3DS sales February 26, 2016 Nintendo has drastically slashed its profit forecast for the fiscal year ending next month, with a strengthening of the yen weighing on the Japanese video games manufacturer. Net profit estimates were trimmed from 35bn yen (£200.4m) to 17bn yen as its forecast sales were decreased by 70bn yen to 500bn yen. Nintendo's disappointing sales performance [...]