Philips shares and profits up as investors dismiss £575m sleep device recall bill Philips Philips shares jumped 13 per cent on Monday as the Dutch health technology company reported much better than expected first-quarter results and said it had set aside €575 million ($631 million) related to lawsuits over its recall of respiratory devices. Amsterdam-based Philips has been grappling with the fallout of the global recall of millions of respirators used to treat [...]
Warning NHS dentistry ‘approaching the end of the road’ as Bupa to shut 85 practices impacting 1,200 jobs Teething problems Bupa Dental Care is set to cut 85 dental practices in a move that will affect 1,200 staff across the UK, amid a national shortage of dentists and “systemic” challenges across the industry. The healthcare group said patients at the affected practices have not been able to access the NHS dental service they need. Bupa, [...]
Tech Nation’s fall must not mean the end of UK’s global talent visa EDITORIAL The future of Britain’s global talent visa – otherwise known as the tech visa – is in doubt after the winding down of Tech Nation. It shouldn’t be. One of the successes of Britain’s transition out of the European Union has been the professional side of the immigration system. The transition for those seeking ‘settled [...]
London AI startup InstaDeep bought by BionTech in half-a-billion deal January 11, 2023 London based AI startup InstaDeep has been bought out by biotechnology giant BioNTech in a half-a-billion pound deal. InstaDeep focuses on machine learning and artificial intelligence, and has raised nearly £100m across four seed rounds. The deal will allow BioNTech to use InstaDeep’s machine learning to “improve its drug discovery process, including developing personalised treatments tailored [...]
Tech chiefs demand pragmatism while retail CEOs go for enthusiasm and City finance bosses value a vision January 9, 2023 As 2023 gets underway the World Cup in Qatar is fast becoming last year’s news. However, for Chris Watt, Managing Partner at ECI Partners, it would be wise for City chiefs to sit back and reflect on the tournament, as there are some lessons to be learnt. Leadership, vision and strategy being the keywords during [...]
New Year fitness regime: How to stick to your goals January 8, 2023 Struggling to stick to your new year’s fitess regime? We asked three fitness experts their top tricks to make sticking to your gym routine a breeze. Abigail Roberts, sports nutritionist at Bulk.com Set SMART goals: The vaguer your fitness goals, the less likely you are to commit to them long-term. Structure your fitness goals so [...]
Peloton slapped with £16m fine over defect which caused child’s death and forced it to recall its Tread+ January 6, 2023 Peloton Interactive has agreed to pay roughly US$19m (£16m) in fines related to its delay in reporting a defect for its treadmills that caused one death and multiple injuries, the US federal consumer watchdog said. The Consumer Product Safety Commission (CPSC) said the fine resolves the agency’s charges that Peloton knowingly failed to immediately report [...]
EXCL – The unstoppable rise of the Chief Innovation Officer in 2023 January 2, 2023 More and more UK businesses are making innovation a priority. The conviction is growing that tech and the implementation of innovative solutions drive business growth and help firms to stay ahead of the competition. It is therefore no surprise that the chief innovation officer takes an increasingly prominent position within many businesses, and that won’t [...]
Best of 2022: Simon Shaw on why rugby must act on concussion December 30, 2022 In June of this year, City A.M. spoke to former England rugby player Simon Shaw about his experiences with concussion and what tech can do to change the game. Article originally published on 15 June 2022. It was a project hatched over a pre-arranged dinner, but the cogs that were left turning once the bill [...]
London’s unicorns: City’s tech start-ups are bringing in the big bucks December 21, 2022 London’s tech start-ups have had a turbulent 2022. But while some of the original tech players in the city have struggled with rising costs and depleting revenues, newer unicorns are making moves. Here are the five London start-ups that made their mark this year, and are to be watched out for in 2023. OakNorth Valued [...]