HSBC-backed fintech Bud to re-focus product stream after restructuring October 31, 2019 A fintech startup backed by HSBC is to open up its software to businesses outside of banking, as part of a restructuring of the business that included a swathe of lay-offs. Bud, which passes financial data made available through Open Banking legislation to banks in order to help them innovate, will now make its platform [...]
Apple shares bounce as Christmas forecast tops estimates October 30, 2019 Apple has predicted a bumper holiday period, easing concerns regarding the impact of the US-China trade war on its overall health. The iPhone maker forecast revenue for the upcoming quarter at between $85.5bn and $89.5bn, signalling a return to annualised growth as it comfortably beats last year’s $84.3bn for the same period. For its fiscal [...]
Alphabet shares dip as profit fails to meet expectations October 28, 2019 Google parent Alphabet missed Wall Street estimates on its third-quarter results tonight, having failed to live up to expectations on profit takings. Alphabet reported earnings per share of $10.12 for the three months to the end of September and net income of $7.07bn, versus expectations of $12.44 per share according to consensus estimates polled by Refinitiv. [...]
Uber sizes up to the City in financial services push October 28, 2019 Ride-hailing app Uber has taken a leaf out of the Square Mile’s book, and today revealed a move into financial services. The tech giant has set up a new division within the company called Uber Money, which will include a digital wallet and support for the firm’s debit and credit cards. The debit card is [...]
Travel startup Duffel picks up $30m to revitalise outdated airline technology October 28, 2019 Duffel, a London-based startup seeking to provide airlines with a fresh software update, has today closed a $30m (£27.1m) funding round led by Dropbox and Slack investor Index Ventures. Existing investors Benchmark Capital, which has backed the likes of Snap and Uber, and Blossom Capital also participated. Duffel helps travel agencies to connect to airline [...]
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 [...]
Revolut opens for business in Singapore October 24, 2019 Banking app Revolut has today launched its services in Singapore, marking the British fintech giant’s fourth international foray. The scaleup, which has more than 7m users across the UK, Europe and Australia, will provide customers in Singapore with access to its banking app and debit card. Features include free spending overseas in more than 150 [...]
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 [...]
Revolut reveals Mastercard tie-up for US debit card launch October 22, 2019 Fintech giant Revolut has today revealed a tie-up with Mastercard ahead of its imminent US launch, its second major partnership in a month. Revolut said its Mastercard-supported debit cards will be available Stateside before the end of this year, following a long-awaited launch that was first promised to arrive in early 2018. The two will [...]
Buzzfeed and Gousto investors back London media AI startup October 22, 2019 A London artificial intelligence (AI) startup has today closed a $25m (£19.2m) funding round to help businesses better track their competition. Signal AI’s series C round was led by Redline Ventures, and supported by the venture arm of publishing giant Hearst. Other investors included Gousto backer MMC Ventures, and GMG Ventures which counts the owner [...]
