PensionBee announces over £3bn assets under administration November 28, 2022 PensionBee has announced there are over £3bn assets under administration as of this month. The online pension provider said despite the macroeconomic volatility, it has been able to reach this “milestone” through high customer retention and strong net inflows. “The ongoing growth in our Assets under Administration results from our commitment to delivering outstanding customer [...]
Cerillion posts record revenue as it cashes in on surging 5G boom November 28, 2022 Software giant Cerillion posts record revenue as demand for continues to surge thanks to a 5G boom and digitisation. The British firm said revenue climbed 26 per cent to a record £32.7m, driven by major new customer implementations and strong demand from existing customers Back-order book reached a new high of £45.4m at the year-end [...]
Yü Group smashes expectations as renewed customer contracts soar November 28, 2022 Business energy supplier Yü Group smashes revenue expectations as it posts record monthly bookings. In a trading update, Yü said revenue, adjusted EBITDA and operational cashflow was anticipated to significantly exceed current market expectations for the year to 31 December. Record average monthly bookings from new and renewed customer contracts over the last three months has resulted [...]
UK ‘missing out’ on semiconductor inward investment November 28, 2022 The UK is ‘missing out’ on semiconductor inward investment as international competition heats up, says a new parliamentary report. MPs on the Business, Energy and Industrial Strategy Committee singled out cooperation with the US under the CHIPS Act and engagement with Taiwan as possible areas that could yield opportunities for the booming sector. Globally, the semiconductor [...]
British Patient Capital posts ‘very active year’ despite testing backdrop November 28, 2022 BRITISH Patient Capital (BPC), the venture capital subsidiary of government-owned British Business Bank (BBB), has posted a “very active year” as it continues to back high-growth UK firms. As the largest domestic investor in UK venture and venture growth opportunities, BPC announced that it now manages assets with a total value of £3.1bn. During the [...]
BT eyes unit merger in bid to cut costs November 27, 2022 BT is gearing up to to merge two of its struggling divisions as the telecom giant continues its big squeeze. As first reported by The Telegraph, the FTSE 100 firm is set to combine its Global Services division, which provides security and cloud computing services, with its Enterprise unit, which serves business and government customers [...]
TikTok calls in tech start-ups to help with ecommerce push November 27, 2022 TikTok has called in tech start-ups to boost its ecommerce operations in a desperate attempt to diversify revenue streams. According to initial reports from the Financial Times, TikTok’s parent firm Bytedance has been working with YunExpress as a logistics partner to get its social commerce offering off the ground on a more global scale. It [...]
EU to introduce bloc-wide vaping levy November 27, 2022 The EU is set to introduce a new vaping levy as it revamps the tobacco industry’s tax structures and adapts to the vape boom. According to a draft European Commission document and first reported by the Financial Times, stronger vaping products would have an excise duty of at least 40 per cent applied, while lower-strength [...]
Online safety bill to criminalise encouraging self-harm November 27, 2022 The long-awaited online safety bill is set to criminalise content that encourages self-harm as it attempts to beef up protections. While encouraging suicide is already illegal, there is widespread concern about material on the internet that encourages people to harm themselves. The recent inquest into the death of 14-year-old Molly Russell found that unsafe online [...]
What3words says post-Brexit tech hiring space is ‘a lot slicker’ than expected November 25, 2022 The boss of tech firm What3words chief said that the post-Brexit recruitment landscape has been “a lot slicker” then he anticipated when building a global team in London. In an interview with City A.M., Chris Sheldrick, who heads up the global address system, said that the capital continued to be a great place to build [...]
