Former Capco executives club together for £8m Proud Embankment deal August 26, 2021 A property investment firm led by former Capital & Counties executives has acquired London nightclub Proud Embankment for £8m in a show of confidence in the return to dancefloors. Castlebrooke Investments has taken a 17-year lease on 8 Victoria Embankment, the entertainment venue that plays host to Proud Cabaret. The former riverside tram shed entrance [...]
Big Tech vows to ramp up cybersecurity after White House summit August 26, 2021 Major US tech firms have pledged to ramp up their cybersecurity defences following a White House summit yesterday. Google, Microsoft, Amazon and IBM were among the companies to make multi-billion-dollar commitments as President Joe Biden called on top chief executives to “raise the bar on cybersecurity”. During a meeting alongside his members of his Cabinet, [...]
UK to scrap web cookie requests in post-Brexit data revamp August 26, 2021 The UK will scrap “pointless” web cookie requests as part of a major package of reforms that will replace the EU’s data laws with a new post-Brexit regime. Culture secretary Oliver Dowden today unveiled a string of new measures designed to harness the power of data to drive growth and create jobs. The move will [...]
Competition watchdog blasts PCR test firms over consumer law breaches August 25, 2021 The UK competition watchdog has warned of a potential crackdown on PCR Covid test providers amid concerns they may be breaking consumer law. In an open letter the Competition and Markets Authority (CMA) raised concerns about a number of harmful practices in the sector. These included advertising up-front prices for PCR tests that do not [...]
Relx snaps up Leeds software firm TruNarrative in £130m deal August 25, 2021 Relx has snapped up Leeds-based software group TruNarrative as the FTSE media giant continues to beef up its business through a string of acquisitions. TruNarrative, which was founded in 2016 and offers software that helps customers reduce risk and financial crime, will merge with the company’s LexisNexis Risk Solutions division. The company did not disclose [...]
Data watchdog targets social media with new Children’s Code August 25, 2021 The UK data watchdog is setting its sights on social media and gaming companies with new regulations to protect children that come into force next week. The Children’s Code brings in new rules around protecting data for online services such as apps, online games and web and social media sites likely to be accessed by [...]
Inmarsat bids farewell to Old Street as it takes up new City HQ August 25, 2021 Inmarsat will be leaving its iconic headquarters in Shoreditch to take up new office space in the City. The British satellite giant has pre-let 121,00 square feet at 50 Finsbury Square, marking an end to its towering presence on Old Street roundabout. The move is the latest example of downsizing by a major British company [...]
Imagination Technologies cashes in on chip demand amid China tech row August 24, 2021 British semiconductor firm Imagination Technologies has posted a surge in revenue as a raging global chip shortage helped boost demand for its products. The company, which is based in Hertfordshire but owned by a Chinese private equity fund, reported a 55 per cent rise in revenue to $76m (£55m) in the first half of the [...]
Abu Dhabi fund set to take stake in broadband challenger Cityfibre August 24, 2021 A group of investors including Abu Dhabi’s sovereign wealth fund is said to be close to taking a stake in Cityfibre in a deal valuing the Goldman Sachs-backed broadband firm at around £2bn. Abu Dhabi’s Mubadala Investment Company and Interogo Holding — the investment arm of the group behind Ikea — are leading the swoop [...]
Samsung to invest $200bn over three years in post-pandemic push August 24, 2021 Samsung is set to invest 240 trillion won ($206bn) by the end of 2023 in an effort to expand its biopharmaceuticals, AI, semiconductors and robotics offerings in the post-pandemic era. The South Korean tech giant said the investment will help strengthen its global standing in key industries such as chipmaking while allowing it to seek [...]
