Start-ups look to debt after VCs ‘lost discipline’, says Silicon Valley Bank chief October 26, 2022 UK start-ups are leaning on debt to fuel their growth this year as venture capital investors are buffeted by a downturn, having “lost discipline” in a funding frenzy last year, the UK chief of Silicon Valley Bank has said.
Investors bet on AstraZeneca’s experimental breast cancer drug following positive trial October 26, 2022 Shares rose in AstraZeneca today on the back of progress made with its breast cancer treatment, which combines its older Faslodex drug with a new experimental offering. Breast cancer is the most common cancer in the world, with around 2.3 million patients diagnosed with the disease in 2020. It follows a disappointing result in a [...]
Not enough: Gov ramps up EV charger rollout amid calls for more action October 26, 2022 The UK Government has continued to ramp up the rollout of public electric vehicle (EV) chargers over recent months. According to data published today by the DfT, as of 1 October 34,637 public EV chargers were installed in the UK – 34 per cent up on last year’s levels. This is also 8 per cent [...]
Google and Microsoft drag tech stocks both sides of the Atlantic October 26, 2022 Disappointing results from both Google owner Alphabet and Microsoft have dragged down tech shares both sides of the Atlantic. Nasdaq was down two per cent at the opening bell, whilst European tech stocks fell 1.8 per cent to lead sectoral losses. It comes after Alphabet said third-quarter revenue grew six per cent to $69.1bn, raising [...]
Data protection watchdog warns against ‘immature’ biometric technology October 26, 2022 The UK’s data protection watchdog has warned against businesses using “immature” technology to measure biometrics, saying the risks currently outweigh the benefits. Emotional analysis technologies process data such as gaze tracking, facial movements, heartbeats, facial expressions and skin moisture. Financial services firms often use this technology in their facial recognition practices to verify identities through [...]
Mercedes to exit Russian market after manufacturing suspension October 26, 2022 Mercedes is set to exit the Russian market once and for all after it suspended manufacturing in March as a result of Moscow’s invasion of Ukraine. The car maker said today that, even though it will sell its shares to Russian car dealership Avtodom, the transaction will not impact the group’s financial position or its [...]
Boeing shrinks loss in plane business but takes £2.4bn hit from defence unit October 26, 2022 Despite shrinking its losses in the commercial plane business by around 7 per cent to $643m (£556.8m), Boeing was hit by a $2.8bn (£2.4bn) loss from its defence unit. The commercial plane business’ revenue went up to $6.3bn driven by the resumption of 787 and 737 deliveries, as Boeing shipped 112 planes in the three [...]
Number 10 confirms Rishi Sunak will bring back fracking ban October 26, 2022 Downing Street has confirmed Rishi Sunak will drop Liz Truss’ plans to end the England ban on fracking. The Prime Minister told MPs today that he “already said I stand by the manifesto on” fracking, which committed to maintaining a moratorium on the practice unless scientific evidence shows it’s safe. Sunak’s spokesperson confirmed today that [...]
Ford to discontinue Fiesta production as focus shifts to electric cars October 26, 2022 Ford will discontinue the production of its iconic Fiesta model by the end of June 2023 as the car maker focuses on its electrification strategy. The marque announced today that, alongside the Fiesta, it will also stop manufacturing the S-MAX and Galaxy models. “At Ford in Europe, we are accelerating our efforts to go all-in [...]
TfL unveils state-of-the-art pantograph electric bus chargers in renewed green push October 26, 2022 Transport for London’s push to go green took another step this week, with the unveiling of state-of-the-art technology to charge zero-emission buses. New pantograph charging points were unveiled at Bexleyheath bus garage, allowing some of its 850-strong fleet of green buses to be charged overnight. With a view to having a fully zero-emission bus fleet [...]
