Former Credit Suisse boss Tidjane Thiam and Emma Watson to join Kering board June 16, 2020 The former chief executive of Credit Suisse is to join the board of Gucci owner Kering, alongside actress Emma Watson and the president of ride-hailing giant Didi Chuxing. Tidjane Thiam, who left Credit Suisse in February amid a major spying scandal, will chair Kering’s audit committee. Thiam, who previously ran insurer Prudential, had said he [...]
Trump signs executive order to reform US police June 16, 2020 US President Donald Trump has today signed an executive order pledging to reform the police, aimed at improving law enforcement practices amid widespread backlash. Federal grants will be offered to states to improve police practices, including the creation of a database to track abuses by officers and improved information sharing so that officers with poor [...]
Amazon to use AI to enforce social distancing in offices and warehouses June 16, 2020 Amazon is to use a tracking system powered by artificial intelligence to make sure employees are following social distancing guidelines in its offices and warehouses. Monitors in its warehouses will show workers on the screens highlighted in green circles when keeping a safe distance from others. The system will also be used in office buildings [...]
Epic Games to be valued at $17bn, as Fortnite event shuts out millions of fans June 16, 2020 The creator of one of the world’s most popular online games is set to be valued at $17bn (£13.4bn), as demand for its products spike during the coronavirus pandemic. Epic Games, which developed the Fortnite gaming franchise, is raising a $750m funding round from new investors T. Rowe and Baillie Gifford, people familiar with the [...]
Softbank to sell down $20bn T-Mobile stake as network suffers widespread outage June 16, 2020 Softbank is preparing to sell up to two-thirds of its stake in telecoms giant T-Mobile, it has emerged, as the network provider recovers from a major US service outage. The Japanese investment giant is coming to the end of a major share buyback scheme, which is being funded in part by a $41bn (£33bn) plan [...]
US firms to be allowed to work with Huawei on 5G standards June 16, 2020 The US is to amend a ruling which prohibited companies from working with Chinese tech giant Huawei on setting standards for upcoming 5G networks. The new ruling, signed by the US Commerce Department and other agencies, is set to be published on the Federal Register as soon as today. “The United States will not cede [...]
EU opens antitrust cases against Apple over App Store and Apple Pay June 16, 2020 The European Commission today launched two new antitrust cases against Apple, bolstering its fight against market dominance in the technology sector. The first investigation will explore whether Apple’s practice of charging a 30 per cent commission fee on sales and subscriptions made via its App Store is anti-competitive, following complaints by Spotify and Rakuten. Spotify’s [...]
Monzo confirms £60m funding round as valuation slides June 16, 2020 Digital bank Monzo has today confirmed a fresh funding round of £60m from existing investors, which is understood to have been accompanied by significant cut to its valuation. Backers included Y Combinator, General Catalyst, Accel, Stripe, Goodwater, Orange, Thrive, Passion Capital, as well as some new investors such as Reference Capital and Vanderbilt University. Monzo’s [...]
Former Ebay executives arrested in cyberstalking campaign June 15, 2020 Six former top executives and employees at Ebay have been charged with cyberstalking, following a campaign of harassment against a couple who ran a negative newsletter about the company. Among those arrested were Ebay’s former senior director of safety and security James Baugh, and David Harville, former director of global resiliency. The former staff are [...]
UK space race fires up in first Shetland rocket launch June 15, 2020 Scottish firm Skyrora completed the first ever rocket launch from the Shetlands over the weekend, as the UK space race continues to heat up. The 6.5 feet tall Skylark Nano rocket was launched from the Fethaland Peninsula at North Roe on the Scottish island on Saturday, utilising the area’s remote location to its advantage. The [...]
