Darktrace appoints former BT boss to board ahead of £4bn float March 1, 2021 Darktrace has appointed former BT chief executive Sir Peter Bonfield to its board ahead of a potential stock market float that could value the cybersecurity giant at £4bn. Bonfield has more than five decades of experience in the tech sector, including a six-year tenure as boss of the blue-chip telecoms giant. He currently serves as [...]
UBS quits role in Darktrace listing over Mike Lynch links February 14, 2021 UBS has quit its role in the upcoming £4bn flotation of Darktrace, the UK tech firm, over its links to British entrepreneur Mike Lynch, who is facing fraud charges in the US. The Swiss bank has informed Darktrace that it can not work on the cybersecurity firm’s initial public offering (IPO), according to Sky News. [...]
Made.com considers public listing amid pandemic boom February 12, 2021 Online retailer Made.com is said to be mulling an IPO after a bumper year of sales amid the pandemic. The furniture specialist is in talks with banks about its options, which could include a public listing valuing the company at more than £500m, according to Sky News. City A.M. understands Made.com has not yet appointed [...]
UK prosecution of Mike Lynch ‘would delay justice’, court hears February 12, 2021 A criminal prosecution of Mike Lynch, the British tech entrepreneur, in the UK would result in severe delays, the US government argued today as it fought to extradite the Autonomy founder to be tried on fraud charges in America. The UK’s Serious Fraud Office has reserved the right to prosecute the case if Lynch is [...]
Uber launches same-day parcel delivery service pilot February 11, 2021 Uber has today launched a new same-day delivery service which will allow users to have their parcels chaffeur-driven to their destination. The service, which is called Uber Connect, will cost the same as ordering a regular Uber X journey. An initial pilot of the programme will begin in Manchester, Leeds and Birmingham. Jamie Heywood, regional [...]
Mike Lynch: Live updates as British tech entrepreneur fights extradition to US February 10, 2021 British tech entrepreneur Mike Lynch, the founder of software firm Autonomy, today begins the second day of his fight against his extradition to the US. Yesterday, the court heard opening arguments from Lynch’s defence team and lawyers representing the US. Lynch is facing charges of securities fraud, wire fraud and conspiracy in the US related [...]
DAY 1: Tech entrepreneur Mike Lynch fights extradition to the US February 9, 2021 British tech entrepreneur Mike Lynch began earlier today his fight against his extradition, slamming the US for “overreaching” and saying the UK authorities could prosecute the alleged fraud. Alex Bailin QC, for Lynch, said the US Department of Justice (DoJ) is “not the global marshall of the corporate world”, as he launched the former Autonomy [...]
British entrepreneur Mike Lynch gears up to fight US extradition attempt February 8, 2021 Mike Lynch, the British businessman facing accusations of fraud, will this week fight attempts to extradite him to the US. Lynch is facing charges of securities fraud, wire fraud and conspiracy in the US related to the 2011 acquisition of his former software firm Autonomy by tech giant Hewlett Packard. Following the sale, HP wrote [...]
BT poaches Bharti Airtel executive in digital shake-up January 11, 2021 BT has poached a top technology executive from Indian telecoms giant Bharti Airtel to lead its digital transformation plans. The FTSE 100 behemoth today announced the appointment of Harmeen Mehta in the new role of chief digital and innovation officer. Mehta, who will report directly to chief executive Philip Jansen, will oversee a new digital [...]
FRC: Deloitte allowed Autonomy to ‘present misleading financial position’ January 6, 2021 Deloitte’s audit of scandal-hit UK software firm Autonomy allowed the company to “present a misleading picture of its financial position”, the City watchdog said this morning. The Financial Reporting Council investigated the actions of Deloitte and former partners Richard Knights and Nigel Mercer in relation to their audits of the disgraced tech company’s accounts. Autonomy [...]