HSBC to pull together $2bn IPO for China’s biggest AI firm SenseTime August 17, 2021 HSBC is working with China’s largest artificial intelligence group SenseTime to form a Hong Kong listing, according to reports. SoftBank-backed SeneTime’s initial public offering (IPO) could wire in at least $2bn, Bloomberg reported, citing people familiar with the matter. China International Capital is helping HSBC arrange the float for the firm. The company has decided [...]
Afghanistan: Taliban announces ‘amnesty’ and claims women should join new government August 17, 2021 The Taliban has declared an “amnesty” for all government workers in Afghanistan and urged women to join their new government, in an effort to convince the domestic and international community of a more moderate approach as they take control of the country. Two days after the Taliban’s week-long blistering offensive across the country culminated in [...]
Bitpanda triples valuation to $4.1bn in latest funding round August 17, 2021 Austria’s first tech unicorn has more than tripled in value to $4.1bn in a matter of months. Bitpanda, a crypto trading platform, raised $263m at a valuation of $4.1bn in a series C investment round led by Valar Ventures. British hedge fund manager Alan Howard, UK based Venture Capital firm LeadBlock Partners and Jump Capital [...]
Climate management solutions group Genuit sees revenue climb ahead of COP26 August 17, 2021 Climate management solutions group Genuit has had its half-year revenue climb to £295.6m as the need for climate conscious measures has gripped the UK ahead of COP26. Revenue was up 32.4 per cent on pre-pandemic levels, as the group worked with the construction industry to provide sustainable water, as well as climate and ventilation [...]
Beijing takes stakes in ByteDance and Weibo domestic entities August 17, 2021 The Chinese government has taken stakes in Chinese entities owned by tech companies ByteDance and Sina Weibo, tightening its grip on its technology sector. WangTouZhongWen (Beijing) Technology, co-owned by three Chinese state entities including an investment fund backed by China’s internet watchdog, has taken one per cent of stake in Beijing ByteDance Technology, according to [...]
Outrage among holidaymakers as Tui cancels flights to Spain, Italy, Slovenia and Turkey August 17, 2021 Travel firm Tui has cancelled holidays to hotspot European destinations and beyond as coronavirus restrictions continue. The holiday firm will not offer Tui flights to Malta and certain parts of Italy – Sardinia, Sicily and Calabria – or holidays in Almeria and Girona in Spain until at least 31 October. Flights and packages for holidays [...]
Ocado sales dip as pre-pandemic habits return, supermarket data finds August 17, 2021 The UK’s return to normality has been accompanied by a return to pre-pandemic shopping habits, with online and overall grocery sales declining. The latest grocery market share figures from Kantar for the period ending 8 August show that grocery sales fell by four per cent. The latest twelve weeks saw the lowest level of online [...]
HMRC releases excuses for not paying minimum wage: ‘I only pay them when they are actually serving someone’ August 17, 2021 The taxman has revealed the most absurd excuses it has received from businesses explaining why they are not paying staff the national minimum wage. Some of the excuses included one business owner justifying not paying their staff the national minimum wage due to their workers often being “on standby when there are no customers in [...]
Judging panel announced for Crypto AM 2021 Awards August 17, 2021 Bitcoin flagged a little after its incredible recent run over the last month, with the world’s largest cryptocurrency by market cap currently down slightly since this time yesterday to almost $47k.
Insurance payouts for Covid business interruption near £1bn August 17, 2021 Insurers have paid out almost £1bn in claims to businesses that were forced shut during nationwide lockdowns, according to the latest figures released by the Financial Conduct Authority (FCA) this week. Insurance companies paid out £637m in full settlements to policyholders with cover for business interruption since January as well as over £309m in interim payments, brining the total to £946m. But the total payments for claims could be higher still, as more than 38 [...]
