TfL funding package expires as talks continue on short-term rescue deal May 29, 2021 The emergency funding support programme agreed between Transport for London and the Department for Transport has come to an end, with discussions continuing on an extension. TfL were forced to go cap-in-hand to central government after passenger numbers collapsed at the start of Covid-19. A funding deal was struck in November 2020 to finish in [...]
Uber strikes deal with GMB union over driver representation May 26, 2021 Union GMB will now represent Uber drivers after striking a deal with the ride-hailing firm, it was announced this evening. The firm’s 70,000 drivers will now be able to choose to be represented by the union if they wish, in a first for the sector. The deal comes months after Uber said it would treat [...]
Tesco is trying to give quick delivery apps a run for their money May 26, 2021 Tesco is set to launch a new rapid delivery service which will allow the supermarket giant to shuttle orders to customers doorsteps in less than an hour. The supermarket chain will first trial the Whoosh delivery service at its Wolverhampton Willenhall Express store – assessing its potential for a wider rollout. It said that the [...]
Ofgem invests £300m into EV charge points, with £40bn more to come May 24, 2021 The Office of Gas and Electricity Markets, also known as Ofgem, has invested £300m into expanding the UK’s electric vehicle (EV) charging network today, to push the pedal on the country’s low carbon future. In the bid for net zero, the non-ministerial government department has put money behind the electric vehicle sector, to instal [...]
The Sunday Times Rich List will steal the show, but it should be those at the top of philanthropy who earn our admiration May 22, 2021 The Sunday Times Rich list was published yesterday with much fanfare. As well as the customary intrigue about who made it and who didn’t, who is up and who is down, another ranking, the Giving List, will also be published. It lists philanthropists according to the percentage of wealth they have given away. Whereas once [...]
Your next GP might be Dr Alexa or Dr Siri May 20, 2021 One of the ways that artificial intelligence is transforming everyday life is through combination technologies which amalgamate innovations such as machine learning, deep learning, computer vision, image processing, natural language processing, speech recognition and more into brand new applications. The most active innovator and adopter of these ‘magic’ new combinations is the global healthcare sector. [...]
Biden charges up $174bn electric vehicle plan in Michigan speech May 18, 2021 US President Joe Biden today called for government grants for new battery production facilities as he made the case for his $174bn (£123bn) electric vehicle plan today. During a speech at a Ford electric vehicle plant in Michigan, Biden vowed to “set a new pace” for the technology and reverse what he described as the [...]
Softbank ‘mulls $300bn Spac listing’ for Vision Fund May 17, 2021 Softbank is reportedly weighing up a $300bn (£212bn) blank-cheque deal to take its tech-focused Vision Fund public. The Japanese conglomerate is said to be discussing plans to raise capital through a special purpose acquisition company (Spac) deal on the Amsterdam stock exchange later this year. It is planning to seek around €250bn from the listing, [...]
Keir Starmer was right on one thing in his reshuffle – we need a Future of Work Secretary May 15, 2021 After a poor set of local election results and a botched reshuffle, Labour hasn’t had the best of weeks. But one thing it may have gotten right is the appointment of Angela Rayner as “shadow secretary for the future of work”. While it is easy to mock the elaborate titles bestowed on the deputy leader [...]
SoftBank posts highest-ever annual profit for a Japanese company May 12, 2021 Japanese investment giant SoftBank today reported a record annual group net profit of $45.8bn, putting it among the world’s biggest earning firms. SoftBank’s net income beat the $42.5bn made by Warren Buffett’s Berkshire Hathaway in its last business year and compared to a ¥962bn loss a year earlier. Market enthusiasm for tech stocks drove the [...]