With the rise of fintech, banks have more on their plate than Brexit November 29, 2017 Britain’s biggest banks nervously opened their latest stress test results yesterday. They all passed, although Barclays and Royal Bank of Scotland remain the laggards – seeing the Bank of England after class. Most hearteningly, the BoE gave Britain’s major lenders an A grade for their resilience even in the face of a “disorderly Brexit”. However, [...]
Questioning AI ethics doesn’t make you a gloomy Luddite November 29, 2017 Last month, Google-owned DeepMind introduced AlphaGo Zero, the latest evolution of AlphaGo, the first computer programme to defeat a world champion at the ancient Chinese game of Go. Speaking at Web Summit earlier this month, Kevin Bandy, chief digital officer at Cisco, told the audience that “there are more moves in this one game than [...]
Bitcoin bubble will burst but blockchain technology will be useful, says private equity investing giant Harbourvest November 28, 2017 The bitcoin cryptocurrency is a bubble which will burst, but the underlying blockchain technology will have some useful applications, according to a director at Harbourvest Private Equity (HVPE). Speaking on investment megatrends this morning, Richard Hickman – director of investment and operations at the £995m London-listed HVPE trust – said he believed bitcoin was one [...]
JP Morgan, Bank of America and BBVA most prepared banks for artificial intelligence, according to UBS November 28, 2017 US banks are the most prepared to handle the potential disruption of artificial intelligence to their business, new research reveals. The US ranked highest out of nine countries in established markets, followed by Singapore and then Spain. And when it comes to specific institutions, JP Morgan, Bank of America and BBVA were found to be [...]
Pharmaceutical giant Merck picks London for new HQ November 27, 2017 Pharmaceutical giant Merck has chosen central London as the site of its new headquarters. The company’s hub will be home to 150 new researchers, and 800 additional staff. Merck’s other European clinical operations will also move to the site from the company’s current headquarters in Hoddesdon, Hertfordshire. The American pharmaceutical business has started to look [...]
Balderton Capital closes sixth fund at $375m to back more European tech startups November 27, 2017 One of Europe’s biggest backers of tech startups across Europe, including digital challenger bank Revolut and mapping app Citymapper in the UK, has raised a huge new fund to invest in early stage companies. Balderton Capital has raised $375m for its sixth fund which has gained more interest from US investors who are seeing Europe [...]
Let’s get serious about leading the fourth industrial revolution November 27, 2017 The abolition of stamp duty for most first-time buyers dominated the headlines after last week’s Budget. But an equally important national priority was delivered too: positioning Britain to lead the fourth industrial revolution. As the chancellor said, this wave of technological change is already transforming the way we live and work, raising living standards, delivering [...]
What will innovation look like in 2018? Bird & Bird’s Digital Innovators tell us all about the year ahead November 24, 2017 In a year when quantum computing made major leaps forward and using your face as a password became a reality, you’d be forgiven for being hard pushed to imagine just how much further technology can take us. But 2018 will certainly be a year for driving even more innovation for the 50 up-and-coming companies chosen [...]
Facebook’s giant solar drone Aquila is going on display for the first time in London at a new V&A exhibition | City A.M. November 23, 2017 Londoners will be able to get a real life glimpse of one of Facebook’s most ambitious projects to date – a giant solar-powered drone – as it goes on display for the very first time. The aircraft which Facebook believes can bring internet access to remote regions around the world, will form part of a [...]
Budget 2017 UK: Philip Hammond gives more cash for electric cars, AI, 5G and tech innovation and plans driverless car rules November 22, 2017 Fresh cash has been promised to boost the uptake of electric cars on Britain’s roads and to develop new regulation for driverless cars. There will be £400m for charging infrastructure for electric vehicles and another £140m for other projects related to them, chancellor Philip Hammond has said in his Autumn Budget. Read more: Hammond targets [...]