Pinterest’s valuation slips as it looks to raise $1.3bn in New York float April 8, 2019 Social media platform Pinterest plans to raise as much as $1.3bn (£995m) when it floats on the New York Stock Exchange this year. Pinterest will put 75m shares up for sale at its initial public offering (IPO), with a price tag of between $15 and $17 per share. Read more: Lyft IPO paves way for [...]
Europe must lead the way with digital tax, says EU competition commissioner April 8, 2019 Europe must agree on plans for a new digital tax and should be the trailblazer if there is no global consensus, the EU’s competition commissioner Margrethe Vestager has said. The EU last month scrapped initial plans to roll out a digital tax on tech giants after opposition from several member states. Read more: EU drops [...]
Smartphone sales to fall in 2019 as foldable phones fail to spark interest April 8, 2019 Global smartphone sales are set to fall again this year as consumers shun upgrades and hold on to their devices for longer. Shipments of mobile phones are expected to slip 0.5 per cent to 1.8bn in 2019, according to data published by research firm Gartner. Read more: Samsung warns of 60 per cent drop in [...]
Huawei’s ‘shoddy’ cyber security could lead to UK ban, says GCHQ April 8, 2019 Huawei could be banned in parts of the UK because its “shoddy” engineering practices create cyber security issues, a top GCHQ official has said. Dr Ian Levy, technical director of the National Cyber Security Centre (NCSC), said the UK may ban the Chinese firm’s equipment in sensitive areas such as Westminster in a bid to [...]
Baby Spice’s baby startup Kit & Kin breaks record for fastest angel investment April 8, 2019 An eco-friendly baby product business founded by former Spice Girls singer Emma Bunton has broken a record for the fastest fundraising round from angel investors. Kit & Kin achieved its target of £420,000 in just one week through online site Angel Investment Network (AIN), the fastest raise in the platform’s history. Read more: Software retains [...]
Japanese prosecutors seek to probe Ghosn’s wife over use of Nissan funds April 7, 2019 Tokyo prosecutors have called on judges to question the wife of embattled car executive Carlos Ghosn over her involvement in the alleged embezzlement of funds. Prosecutors suspect Ghosn channelled funds from Nissan into a company where his wife, Carole, is an executive, Reuters reported, citing local media. Read more: Ghosn to be detained for further [...]
Monzo set to overtake Revolut as fresh funding lifts valuation to £2bn April 7, 2019 Digital bank Monzo is set to double its valuation to almost £2bn after securing hefty backing in its latest fundraising round. The bank will reportedly close a £100m funding round, led by a new US investor, that will take its valuation to $2.5bn (£1.9bn) and make it the UK’s second-largest fintech startup. Read more: Oaknorth [...]
Murdoch waits for verdict on The Times and The Sunday Times merger April 7, 2019 Media mogul Rupert Murdoch will this week receive the government’s verdict on a planned merger of The Times and The Sunday Times. Earlier this year News UK, which controls the two newspapers, filed an application to the Department for Digital, Culture, Media and Sport (DCMS) to overturn a law that forces the group to keep [...]
Manufacturers urge May to revoke Article 50 if Brexit deal cannot be secured April 7, 2019 Manufacturers have urged Prime Minister Theresa May to revoke Article 50 is she cannot secure a Brexit agreement this week amid growing fears the UK could crash out of the EU without a deal. In an open letter to May and Labour leader Jeremy Corbyn, trade body Make UK said the industry had already been [...]
Growing number of cyber attacks ‘damaging’ critical UK infrastructure April 5, 2019 An increasing number of key infrastructure sites have been hit by cyber attacks in recent years, sparking fears the UK is vulnerable to a “crippling” large-scale attack. Nine out of ten security professionals working in the critical infrastructure sector said their sites had been damaged by at least one cyber attack over the last two [...]
