Self-driving startup FiveAI launches commuter trials on London streets October 24, 2019 British startup FiveAI has today announced the launch of commuter research trials for its self-driving car technology, alongside motor insurance giant Direct Line. As part of the Streetwise Consortium, which also includes TRL, a 19km self-driving research route featuring human passengers will be launched in Croydon and Bromley to test out the technology. The invite-only [...]
City Moves for 24 October – Who’s switching jobs at Legal & General, SnapLogic and Angling Direct? October 23, 2019 Today’s City Moves includes Legal & General, SnapLogic and Angling Direct Legal & General Legal & General Investment Management (LGIM) has announced the appointment of Margaret Ammon as chief risk officer. Currently chief risk officer for the asset management branch of M&G, Margaret will join LGIM in February 2020 and be responsible for the oversight and [...]
Investors pile into Tesla after topping profit expectations October 23, 2019 Shares in Tesla surged more than 11 per cent in after-hours trading tonight, following a set of buoyant third-quarter results. The car maker posted a profit of $1.86 per share, swinging back to profitability. Analysts had expected a loss of 42 cents per share, according to Refinitiv. Revenue for the three months to the end [...]
Cloud computing drives Microsoft revenue up October 23, 2019 Microsoft boosted revenue and earnings in the first quarter, driven by growth in its cloud computing business. The tech giant reported a revenue increase of 14 per cent to $33.1bn in the three months to 30 September, while operating income increased 27 per cent to $12.7bn. Read more: SAP strikes three year cloud computing deal [...]
Wework plans to axe up to 4,000 jobs October 23, 2019 Wework is planning to axe up to 4,000 jobs as Softbank launches a turnaround plan after taking control of the business earlier this week. The redundancies will reduce Wework’s global workforce of 14,000 people by just under 30 per cent. Read more: Softbank takes control of Wework Wework is seeking to move its cleaning operation [...]
Metro Bank swings to loss in third quarter October 23, 2019 Embattled high street lender Metro Bank swung to a loss in the third quarter of this year, the bank announced hours after its chairman unexpectedly quit the firm months ahead of his planned exit. Metro Bank reported an underlying loss before tax of £2.2m in the three months to 30 of September compared to £6.7m [...]
Citymapper’s London travel card will expand to zones three and four October 23, 2019 London commuter app Citymapper is set to expand its contactless transport pass to more parts of the capital. The Citymapper Pass was introduced in February to cover travel on the Tube, buses, trains, Santander bikes and its own Citymapper Ride shared taxi service in zones one and two. Read more: Uber rival Kapten teams with [...]
BBC launches dark web news site in bid to dodge censors October 23, 2019 The BBC has made its international news website available on the dark web in a bid to sidestep censorship attempts. The corporation said its website can now be accessed on Tor, an internet browser designed to hide a user’s activity and identity. Read more: Louis Theroux leaves BBC Studios to launch his own production company [...]
A look back at Mel Stride’s parliamentary career October 23, 2019 The new chair of the Treasury Select Committee is no stranger to the hallowed halls of 1 Horse Guards Road. Mel Stride was formerly a treasury minister for two years under ex-prime minister Theresa May. Read more: Mel Stride unveiled as new Treasury Select Committee chair The former Oxford Union president is best remembered during [...]
Two highs and two lows of ‘Super’ Mario Draghi’s reign at the ECB October 23, 2019 Mario Draghi will tomorrow chair his final monetary policy meeting as president of the European Central Bank (ECB), bringing to an end a dramatic eight years in the job. Read more: Euro plunges as ECB president Mario Draghi signals more stimulus The Eurozone crisis, a long-running argument with Germany, and the US-China trade war are [...]