Checkout.com expands to new London headquarters as revenue surges October 9, 2019 Online payments startup Checkout.com is set to hire 100 members of staff and relocate to new Old Street offices as it unveiled a sharp rise in revenue for the year. The British fintech unicorn will triple its office space with a new 63,000 square feet location near the capital’s Silicon Valley roundabout, having outgrown its [...]
OECD targets tech giants as it shakes up global tax rules October 9, 2019 Multinational tech giants will face a crackdown on their corporate tax bills under new rules outlined by the Organisation for Economic Cooperation and Development (OECD). Tech titans such as Google, Facebook and Amazon have been accused of dodging taxes by booking their profit in low-tax countries such as Ireland, despite serving customers across the world. [...]
Bank of England sets out strict regulatory conditions for Facebook Libra October 9, 2019 The Bank of England (BoE) has set out the rules of engagement that Facebook’s Libra cryptocurrency and other similar digital payment providers would have to satisfy before they can launch in Britain. “Libra has the potential to become a systemically important payment system,” the BoE’s Financial Policy Committee (FPC) said in a policy statement released [...]
Softbank executive suggests Wework should stay private until it can ‘demonstrate cash flow’ October 8, 2019 The tech world has been rocked by a string of disappointing or cancelled IPOs this year, as companies failed to convert huge private valuations into success on public exchanges. One Softbank executive has suggested a novel solution: firms should wait until they can demonstrate suitable levels of cash flow before listing publicly. Asked about the [...]
US looks to fund Huawei’s rivals amid concerns over Chinese dominance October 8, 2019 The US government is said to be looking for ways to pump money into Huawei’s European rivals amid concerns about the Chinese firm’s dominance in the race to roll out 5G. Officials have explored ways of issuing credit to Nokia and Ericsson to enable them to match the generous financing terms that Huawei offers its [...]
Elon Musk offered investigator $10,000 bonus for dirt on diver he had labelled a ‘pedo guy’ October 8, 2019 Tesla chief executive Elon Musk offered a $10,000 (£8,154) bonus for dirt on a British diver he labelled a “pedo guy” after a spat about whether a submarine he offered to rescue a Thai football team stuck in a cave was a publicity stunt. According to a document filed by diver Vern Unsworth’s legal team [...]
World Mental Health Day: How can an app boost your wellbeing? October 8, 2019 This Thursday is World Mental Health Day. Now before you roll your eyes at yet another article discussing the importance of our mental wellbeing, it is worth remembering the massive cost of mental ill-health to society. According to the OECD, the direct and indirect costs of it – such as absences from work and decreased [...]
Lack of clarity over AI definition ‘will confuse’ regulators October 8, 2019 The lack of clarity over what technology is classed as artificial intelligence (AI) poses a major challenge to future regulation in the financial services industry, a new report has warned. Read more: UK must adapt to automation or firms will suffer, MPs warn Research by the International Regulatory Strategy Group (IRSG) found that the lack [...]
Number of deepfake videos online almost doubles October 7, 2019 The number of “deepfake” videos – which use artificial intelligence technology to superimpose images onto existing footage – on the internet has surged over the last nine months. Researchers at cyber security firm Deeptrace found 14,698 deepfake videos online last month, compared to 7,964 in December last year. Read more: The threat of deepfake videos [...]
Kaspi.kz IPO: Kazakh fintech postpones London float October 7, 2019 The London float of Kazakh fintech group Kaspi.kz has been postponed due to “unfavourable market conditions” in the technology sector. Read more: Fund veteran Martin Gilbert leaves Standard Life Aberdeen to join Revolut The initial public offering (IPO) was set to be the largest by a Central Asian company on the London Stock Exchange (LSE) [...]