Revolut launches Plus account as it expands fee-paying services December 16, 2020 Revolut is set to revamp its paid plans while also launching its latest subscription option, Revolut Plus. Revolut’s new Plus service will cost £2.99 a-month and will include theft and accident coverage alongside purchase protection up to £1,000 for a year. Under new plans Premium customers will be protected up to £2,500 while Metal customers [...]
MPs slam government’s ‘woeful’ handling of bounce back loans December 16, 2020 After months of chaos MPs have today published a report into the government’s failings to support small businesses with the bounce back loan scheme. The Public Accounts Committee has published a devastating report into the government’s handling of the bounce back loan scheme, which has received criticism since its inception. The BBLS was introduced in [...]
Twitter pulls ‘unsustainable’ Periscope app December 15, 2020 Twitter has announced plans to shut down its live-streaming app Periscope after seeing a decline in usage. The app has been in an “unsustainable maintenance-mode state… for a while”, Twitter said in a blog post. “Over the past couple of years, we’ve seen declining usage and know that the cost to support the app will [...]
Europe lays out new rules that could force the breakup of big tech December 15, 2020 Europe has laid out sweeping new tech regulation that could see big firms face huge fines in a further crackdown on big tech companies. The European Commission today set out two new pieces of legislation as it looks to curb the power of some of the world’s most popular firms. The EU has long had [...]
Harry and Meghan sign exclusive podcast deal with Spotify December 15, 2020 Prince Harry and his wife Meghan have signed an exclusive podcast partnership with Spotify just months after inking a Netflix deal. Under the multi-year deal the couple will produce the podcasts through their newly-formed production company Archewell Audio, which will produce programming “aimed to uplift and entertain audiences”. They have no previous experience as producers [...]
Toy subscription service Whirli raises £4m seed funding round December 15, 2020 A London-based toy sharing subscription service has raised £4m in its seed round led by Octopus Ventures just in time for Christmas. Rather than a usual subscription service, Whirli subscribers borrow toys instead of purchasing them and any unloved or outgrown toys can be sent back and swapped for another item. Whirli’s service, which starts [...]
UK companies record highest impairment charges since 2012 December 15, 2020 UK companies have recorded the highest goodwill impairments since 2012, new figures show, as Brexit uncertainty continues to have an effect on performance. In 2019 FTSE 100 companies recorded an aggregate impairment of 16bn, a 248 per cent increase from the previous year, according to research by Duff & Phelps. While UK companies within the [...]
Fines, bans and directors liable: Government plans Big Tech crackdown December 15, 2020 The government is set to announce sweeping new measures for social media companies, as part of a crackdown on big tech. Digital Secretary Oliver Dowden and Home Secretary Priti Patel will today propose plans to hand Ofcom considerable powers over social media firms. Ofcom handed new powers The regulator will be able to fine companies [...]
Exclusive: Tech Nation’s top London startups revealed December 15, 2020 Tech Nation has announced London’s top five early stage tech companies as part of its Rising Stars competition. In what has been a difficult year for small firms, Tech Nation has picked some of the most innovative startups from the capital. In its third year, the Rising Stars programme is a national competition for innovative [...]
Chinese regulator fines Alibaba and Tencent under antitrust laws December 14, 2020 The Chinese markets regulator has fined Alibaba and Tencent for a string of deals in its latest bid to clamp down on tech companies. The State Administration for Market Regulation announced on Monday it had fined Alibaba, Tencent-backed China Literature and Shenzhen Hive Box Technology 500,000 yuan. It comes after the regulator published draft regulations [...]
