How better competition policy can restore public trust in capitalism March 6, 2020 Competition policy is not something most people spend much time thinking about. It’s a dry, legalistic area of policy that even elected officials themselves have largely preferred to delegate to technocratic regulators. Yet competition policy is an integral part of the lifeblood of capitalism. At a time when trust in the market economy is under [...]
Coronavirus risks UK economic downgrade, Mark Carney warns February 28, 2020 The UK faces the prospect of faltering economic growth as a result of the coronavirus outbreak, Bank of England governor Mark Carney warned today. The Bank has already spotted a squeeze on world supply chains from the coronavirus epidemic that started in China at the turn of the New Year, Carney said. While it is [...]
AI chipmaker Graphcore nears $2bn valuation after fresh funding round February 25, 2020 Chipmaker Graphcore today said it was closing in on a $2bn (£1.5bn) valuation after securing $150m in a fresh funding round. Graphcore, which specialises in processors for machine learning and artificial intelligence (AI), secured the backing from new investors Baillie Gifford, Mayfair Equity Partners and M&G Investments. The cash boost, which was an extension of [...]
From semaphore to algorithms, market misconduct is an age-old challenge February 25, 2020 Misconduct issues in the financial markets can be charted back well over 200 years. Analyse each case, and the same behavioural patterns recur time and time again. An early example comes from 1814 when a conspiracy was formed between Charles de Berenger, Sir Thomas Cochrane, and six others to profit from the publication of false [...]
Don’t leave it up to the EU to decide how we regulate AI February 24, 2020 The war of words between Britain and the EU has begun ahead of next month’s trade talks. But as Britain sets its own course on everything from immigration to fishing, there is one area where the battle for influence is only just kicking off: the future regulation of artificial intelligence. As AI becomes a part [...]
How to break up big tech? Regulating technology companies is more easily said than done February 20, 2020 Over the last few years, the public perception of technology companies has shifted quite dramatically. Large tech firms such as Google, Facebook and Amazon are no longer the darlings of the world. They are attracting the same kind of ire that financiers attracted a decade ago. At the political level, this translates into a broad [...]
EU imposes tougher AI and data rules to curb tech giants’ power February 19, 2020 The EU has today proposed a raft of new artificial intelligence (AI) rules to curb the power of US tech firms, forcing them to share their data with smaller rivals. The white paper, which is part of a wider digital programme released today by the European Commission, set out ways to limit the perceived dangers [...]
Softbank set to invest $100m in AI startup Behavox February 19, 2020 Softbank is reportedly close to investing $100m (£77m) in a startup which uses artificial intelligence (AI) to help financial firms monitor employees’ behaviour. Softbank’s second Vision Fund is on the verge of signing the deal with Behavox, Sky News reported, which could be finalised as soon as next week. Behavox, which was founded in the [...]
OTB Ventures launches $100m fund for tech investment in Europe February 19, 2020 OTB Ventures has announced the launch of its early growth technology fund with $100m in commitments. The investment vehicle, which specialises in investments in tech companies in Central and Eastern Europe. It focuses on early stage, post-product, start-ups in region and is targeting investment in a total of 16 companies to comprise its portfolio by [...]
New Cenkos appointment is second female chair of a UK stockbroker February 18, 2020 Cenkos has today announced the appointment of Lisa Gordon as its new chairman, the second female to be appointed as chair of a UK stockbroker. Gordon was the youngest woman to be made director of a listed company when she joined the board of media group Chrysalis at the age of 28. She is currently [...]