easyJet will invest millions in tech startups with Founders Factory October 16, 2016 easyJet is the latest established business tapping tech talent to boost innovation, partnering with the high-profile London-based startup accelerator and incubator Founders Factory. The airline is the sixth corporate backer of the startup hot house created by renowned entrepreneurs Brent Hoberman and Henry Lane Fox – both of Lastminute.com fame – with the ambitious goal of creating 200 successful startups over the next five years. The [...]
“It wasn’t the right fit for us”: Salesforce shares jump as boss unfollows Twitter, ruling out takeover bid October 15, 2016 Twitter’s share price dropped more than five per cent in the US on Friday after a takeover offer was ruled out by Salesforce – whose shares jumped five per cent on the news. The social media company’s shares were trading at close to $25 on 5 October after reports suggested a bidding process was about [...]
Here’s a novel way your office could stay cool next summer October 14, 2016 Snow cleared from roads in winter could be used to cool large buildings when it's hot, replacing traditional air conditioning. A computer-modelled study showed channelling air through "snow dumps" – where snow and ice is piled after being collected from highways – reduces the need for air conditioning units and could save businesses money. The system works [...]
The smartphone obsession is escalating: Britons are checking their phones 85 times a day – and nowhere is sacred anymore October 14, 2016 Britons' obsession with smartphones is reaching new heights. Or, perhaps, plumbing new depths. The average UK adult checks their phone 85 times a day, according to new research. And no where appears to be out of bounds, either, the study of 2,000 commissioned by mobile game studio Project M found. Read more: With consumers glued to [...]
Samsung operating profit to go up in flames to the tune of £2.5bn in the next two quarters after Galaxy Note 7 discontinuation October 14, 2016 South Korean electronics giant Samsung said today it expects to take a $3bn (£2.46bn) hit to its operating profit over the next two quarters because of the discontinuation of its Galaxy Note 7 smartphone. The announcement brings the total losses from the debacle to around $5.3bn. In a market update earlier this week, the company [...]
Wake up, policy-makers: The fintech paradigm shift could change everything October 13, 2016 Nowhere within the financial firmament does enthusiasm abound more right now than in the arena of fintech. Just as it has disrupted and revolutionised our social interactions and shopping habits, the internet is breeding new ways to cut the cost of transacting and pair those with capital with those seeking it. Peer-to-peer lending and crowdfunding [...]
This UK startup using AI for compliance just raised millions October 13, 2016 A UK tech startup which uses artificial intelligence to ensure compliance rules are followed by financial firms has raised millions of pounds from top investors. ComplyAdvantage has raised $8.2m (£6.7m) in a series A round of funding led by Balderton Capital to fuel expansion into the lucrative US market. The regulatory tech firm, or regtech (an offshoot of [...]
What Brexit? UK startup funding has bucked a global slowdown October 13, 2016 Cash being ploughed into the UK's tech startups has defied a global slowdown as the impact of Brexit turns out to be limited – so far, at least. Venture capital investment inched up 10 per cent to $834m in the third quarter of the year, fueled by high profile rounds for several star startups including Deliveroo and Darktrace. [...]
The government is seeking closer ties with business to battle cyber threat October 13, 2016 UK authorities are ramping up efforts to help British business fight the ever-growing threat of cybercrime. The government will seek greater engagement with chief executives and board level executives on cyber security to push it higher up the corporate agenda. The newly opened National Cyber Security Centre (NCSC) in London, part of multi-billion pound government plans to invest [...]
The “forgotten middle” is essential for creating Britain’s truly digital workforce October 13, 2016 The pace of innovation in technology is as exciting as it can be daunting. While the "digital native" generation seems to have little trouble keeping up with new tech developments, a lack of investment in digital skills is fostering a society of "digital consumers" rather than "digital creators". Last week, secretary for culture, media and sport Karen Bradley [...]