The City View: Bailey bites back, and analysing Australian Labour Party victory May 23, 2022 Today Andy Silvester talks to City A.M. reporter Stefan Boscia. They go through the Labour victory in the Australian election, and, back in the UK, unpick the Tory party split over a proposed windfall tax on energy companies. In the economic and business news: BoE Governor Andrew Bailey has denied that the Bank’s actions during [...]
Why we still like Asian tech stocks May 23, 2022 Asian semiconductor and IT stocks have had a difficult few months, but we see the sector as a long-term winner. Market trends in Asia this year have tended to see consumer, internet, semiconductor and technology stocks come under pressure. Internet stocks face ongoing regulatory uncertainties, while consumer companies face a profit margin squeeze amid cost [...]
AI specialists Pupil swoop in for UAE surveying firm ASME with renewed focus on Dubai and Abu Dhabi May 23, 2022 Data tech firm Pupil have swooped in for a leading surveying company specialising in UAE property The Artificial Intelligence (AI) pioneers, who use spatial mapping tech, sealed the deal to acquire Aus-Surv Middle East, which has completed over 600 high-rise and mixed use developments in Dubai and Abu Dhabi. Pupil, which entered the gulf state’s [...]
UK’s information watchdog tells Clearview AI to delete photos of British people from facial recognition systems May 23, 2022 The UK’s information watchdog has told surveillance tech firm Clearview AI to delete its database of facial images scraped from British people’s social media profiles. The UK’s Information Commissioner’s Office (ICO) also fined the tech firm £7.55m, after ruling the firm broke the law by taking people’s photos without their permission. The intervention comes after [...]
Lord O’Neill’s Northern Gritstone raises £215m with backing from pension funds May 19, 2022 Investment company Northern Gritstone has raised £215m in funding after it received backing from local pension funds. A joint venture between Leeds, Manchester and Sheffield universities, the firm has secured funding from the Greater Manchester Pension Fund and West Yorkshire Pension Fund among others, Sky News first reported. “The strong endorsement of Northern Gritstone we’ve [...]
If Johnson wants a future proof economy, he needs a resilient core in all of his policies May 18, 2022 Last week, we heard plans to strengthen consumer protection, boost innovation and support the transition to net zero. The realignment with the interests of business in the UK was welcome. The government needs to reset its strategic direction and put resilience at the heart of policymaking and focus. We hear the term future proof being [...]
Google and DeepMind face class action lawsuit over patient data deal with London hospital May 16, 2022 London law firm Mishcon de Reya is bringing forward a major class action lawsuit against artificial intelligence (AI) firm DeepMind and its sister company Google over claims the two firms misused UK patients’ medical records while working with the Royal Free Hospital. The lawsuit, filed to the High Court on behalf of 1.6m individuals, comes [...]
Israeli transport tech firm gears up for London growth with $100m funding injection May 16, 2022 An Israeli transport tech firm is poised for a growth push in London after unveiling a $100m funding injection today, taking its valuation to $1.3bn.
Generation AI: Breakthrough for automation as robot ‘chef’ in Cambridge can taste food at different stages of the chewing process May 11, 2022 A robot “chef” has been trained to taste food at different stages of the chewing process to check if it is salty enough, imitating a similar process in humans. The University of Cambridge researchers suggest their results could be useful in the development of automated or semi-automated food preparation by helping robots to learn what [...]
Surveillance tech firm Clearview AI agrees to block businesses from using facial recognition database May 10, 2022 Facial recognition startup Clearview AI has agreed to limit customers from using its database of billions of facial images scraped from social media platforms including Facebook and Linkedin. The New York software developer agreed to block the bulk of all commercial customers from using its database, in order to settle a lawsuit brought forward by [...]