Digital wealth manager Nutmeg records eighth consecutive year of losses October 9, 2020 Digital wealth manager Nutmeg recorded losses of £21m last year as it struggled to break even for the eighth year in a row. Accounts for the year to the end of December 2019, filed on Companies House today, show Nutmeg made a loss of £21.2m, deepening last year’s losses of £18.4m. This comes even as [...]
Silver linings: How IBM’s reinvention highlights the rise of the cloud October 9, 2020 International Business Machines (IBM) shares rose almost six per cent yesterday after the tech firm announced plans to split its business into two public companies. IBM, which is one of the world’s oldest computer companies, will spin off its legacy IT infrastructure business by the end of next year and double down its efforts on [...]
Facebook issues temporary ban on political ads after US election October 8, 2020 Facebook will stop running political ads in the US after polls close on 3 November in a bid to prevent “confusion or abuse” in the aftermath of the presidential election. The social media giant said the temporary ban marked its efforts to “protect the integrity of the election by fighting foreign interference, misinformation and voter [...]
The City View: Alastair Stewart on the future of broadcast media, from the BBC to GB News October 7, 2020 In the first episode of the City View’s new weekly format, Christian May talks to veteran broadcaster and journalist Alastair Stewart about a wave of disruption hitting the broadcast media. Subscribe to The City View Podcast: Apple / Google / Spotify / RSS The BBC has a new Director General while its former star presenter is launching a rival news channel. What will [...]
Big tech faces break-up as Amazon, Apple, Facebook and Google accused of ‘monopoly power’ October 7, 2020 Amazon, Apple, Facebook and Google have all abused their market power and could face a potential break-up, according to a damning new report backed by US Democratic politicians. In a 449-page recommendation released yesterday, the US House Antitrust Committee set out a roadmap for cracking down on the tech giants. The report follows a 16-month [...]
Be brave Mr Sunak… and keep spending October 7, 2020 Since Rishi Sunak stepped into the suddenly vacant 11 Downing Street back in February, he’s proved a fleet-footed chancellor, earning praise for the speed at which he launched the furlough programme, provided cash support to struggling companies, and stood behind the economy as the pandemic took hold. He quickly realised that extraordinary times required extraordinary [...]
US senate votes to subpoena tech bosses to testify October 1, 2020 US tech bosses will be hauled in front of congress after a senate committee voted to compel them to testify. Facebook chief executive Mark Zuckerberg, Google chief executive Sundar Pichai and Twitter chief executive Jack Dorsey will be questioned on reforming Section 230 of the Communications Decency Act. The act shields social media firms from [...]
Crypto AM shines its Spotlight on AuBit — network-enhanced finance for everyone September 29, 2020 AuBit is in the final days of a $2.75m private token pre-sale which is expected to close out oversubscribed. Alongside the private token sale, AuBit has also raised more than $1m in private funding of AuBit One digital equity. Today’s spotlight takes a look at what AuBit is, who’s behind it, and how it plans [...]
Could decarbonisation be the mega-trend of the next decade? September 28, 2020 US equities have led global stock markets higher over the past decade. In the last ten years, US equities have returned a stellar 292%, compared to just 73% for global equities (as measured by the MSCI USA Index and MSCI AC World ex US Index respectively, in US dollar terms, as at 31 August 2020). [...]
Retail trading – don’t become a one-trick pony September 28, 2020 The markets around the world have recently been a hive of activity and volatility. When this occurs, it presents a multitude of potential trading opportunities. This has given birth to a new breed of traders accessing their platforms. The average trader nowadays does not want to be confined to a single asset class or product; [...]