Going it alone: Tech giants to be hit by UK digital services tax October 29, 2018 Technology giants operating in the UK will be served with a narrowly-targeted digital services tax, chancellor Philip Hammond announced today. With consultations to occur before the tax goes live in April 2020, the chancellor said the move is to ensure "the UK continues to be the best place in the world to start and scale [...]
Ride-hailing app Mytaxi to pilot e-scooters in European cities October 29, 2018 Ride-hailing app Mytaxi is to join the swathes of European and US startups jostling for a slice of the electronic scooter market, with a pilot to be launched in European cities later this year. The branding of the scheme and the location of the first pilot have not been disclosed, however the firm said it will [...]
Reimagining the way we use space could reawaken our deserted high streets October 26, 2018 A group of some of the biggest restaurants in the UK have called on the government to tax web giants in order to save the high street. Since 2008, 11,000 major high street outlets have gone bust, while 1,500 restaurant insolvencies were reported in the UK in 2017, and 15,000 more are under threat. The [...]
DEBATE: With new research showing Manchester’s rapid growth, is the capital’s tech bubble bursting? October 24, 2018 With new research showing Manchester’s rapid growth, is the capital’s tech bubble bursting? Dominic Harvey, director at CWJobs, says YES. London may steal all the headlines, but as Tuesday’s figures show, Manchester is becoming an ever more dominant force for the tech sector – and the race to secure the UK’s top talent is really [...]
London fintech startups poised to expand in established European hub October 23, 2018 The UK's fintech industry, the country's most funded technology sector, is poised to expand internationally as UK hubs begin to sprout up in destinations such as Amsterdam. Three UK payments fintechs have jointly chosen the Netherlands as their European base, City A.M. has learned, seeking to reinforce their offering for European customers amid regulatory uncertainty. [...]
The UK extends its lead as Europe’s established tech unicorn capital October 23, 2018 London has cemented its standing as the capital of Europe’s billion-dollar technology startups, as surrounding cities help to push the UK forward while its companies expand internationally. New figures released today show the UK has now created 60 so-called unicorn startups – companies with a valuation of $1bn (£769.6m) or more – since 1990, according to [...]
Fintech startup Worldremit poaches former Paddy Power chief as its next boss October 22, 2018 London money transfer fintech startup Worldremit has today revealed former Paddy Power Betfair chief Breon Corcoran will be its newest chief executive. Corcoran joins the fintech as it hurtles towards so-called unicorn status – a company worth over $1bn (£764.6m) – after successfully managing the merger of betting firms Paddy Power and Betfair in 2016. Worldremit's current founder and chief [...]
BBVA and Anthemis launch London venture builder for fintech startups October 18, 2018 Spanish banking group BBVA and fintech-focused venture capital firm Anthemis have teamed up to launch a joint venture builder for London fintech startups, beginning with the development of a startup studio. The partnership hopes to find top London startups that can create the next big technologically-innovative products in financial services, deploying capital and resources to [...]
London is the best place in the world to start a business, says Innocent co-founder Richard Reed October 18, 2018 London is the best place in the world to start a business, according to Innocent Drinks co-founder Richard Reed. The investor, who set up venture capital fund Jam Jar Investments after selling his smoothies business to Coca-Cola for more than £380m in 2013, said Britain is the birthplace of entrepreneurship. Read more: Entrepreneur outlines Patisserie Valerie rescue [...]
Digital banking challenger Monese launches business accounts October 18, 2018 Digital banking app Monese will today announce its expansion into the world of business banking, as it launches accounts for young companies and entrepreneurs across the UK and Europe. The accounts will be released to UK-registered businesses first, available in 11 languages in a bid to tap the UK's growing multicultural industry base. The firm told City [...]