Ocado set to be crowned the FTSE’s most valuable tech giant December 17, 2019 Analysts have said Ocado has the vision to become the “Microsoft of Retail tomorrow” and transition into the FTSE’s most valuable tech giant. Once finalised, the decision by the Competition and Markets Authority (CMA) to de-designate Ocado as a retailer in August will make it the largest listed tech company in the UK by valuation. [...]
Trainline revenue surges to £198m on £2.9bn ticket sales December 17, 2019 Trainline enjoyed a 26 per cent jump in revenue in the first nine months of its current financial year, it revealed today. The ticket-booking app saw total group revenue hit £198m after international income soared 90 per cent year on year to £20m and UK consumer revenue leapt 31 per cent to £133m. Read more: [...]
Tensions mount in German coalition as SPD eyes Huawei ban December 16, 2019 German Chancellor Angela Merkel’s coalition government could be plunged into further conflict tomorrow as the Social Democrats (SPD) vote on a proposal to block Huawei from the country’s 5G network. The government has announced plans to toughen up scrutiny of telecoms suppliers, but has stopped short of excluding any country or company. Read more: Telefonica [...]
New Orleans declares emergency as cyber attack shuts down government December 16, 2019 New Orleans has declared a state of emergency after a huge cyber attack shut down the local government’s computers and servers. The city’s emergency response service, dubbed Nola Ready, first reported phishing attempts and suspicious activity at 5am on Friday. Read more: London software firm Kape snaps up US cybersecurity company for $95m Chief information [...]
Uber in talks to sell Indian food delivery business to Zomato in $400m deal December 16, 2019 Uber is said to be in talks to sell its Indian food delivery business to local rival Zomato in a deal worth roughly $400m (£299m). The ride-hailing giant is looking to offload Uber Eats in India to Zomato as part of its plan to reach profitability by 2021, according to several media reports. Read more: [...]
Britain must invest to remain a leader in quantum technology December 16, 2019 Britain has a long and illustrious history in the field of computation and information processing, dating back to the great Alan Turing. However, it may miss a unique opportunity to build on this great legacy, unless future governments commit to maintaining the country’s momentum as a global leader in quantum computing — the next and [...]
Watchdog steps up probe into tech giants over digital ad dominance December 15, 2019 The competition watchdog is set to publish its initial findings into the dominance of tech giants in the digital ad market this week, paving the way for a possible in-depth investigation. In July the Competition and Markets Authority (CMA) launched a market study into Google and Facebook, amid concerns the so-called duopoly could be stifling [...]
Delivery Hero takes a bite out of Asian market with $4bn Woowa deal December 13, 2019 Delivery Hero has agreed a $4bn (£3bn) deal to purchase South Korea’s biggest food delivery app and form a joint venture, driving up competition in the rapidly-growing Asian market. The Berlin-based group today signed a deal to take over Woowa Brothers, the startup behind the Baedal Minjok app – more commonly known as Baemin. Read [...]
HP accuses Autonomy boss Mike Lynch of lying in $5bn fraud trial December 12, 2019 Hewlett-Packard (HP) today accused British businessman Mike Lynch of lying to the High Court when he gave evidence in his $5.1bn (£3.9bn) Autonomy fraud trial. HP is suing Lynch, the founder of software firm Autonomy, and his former finance chief Sushovan Hussain, over claims they falsely inflated the company’s revenue for two years before the [...]
Meet Beam, the social enterprise crowdfunding training for homeless people December 12, 2019 Charitable giving is one of the hallmarks of the festive season. And with the weather getting colder at Christmas, it’s important to highlight the desperate situation facing London’s homeless population. Estimates vary, but it’s believed that roughly 170,000 people are homeless in the capital. The vast majority of these are living in homeless shelters, hostels, [...]