Banks warned over fintech payment firms September 26, 2016 The world's biggest banks risk losing control of digital payments to small fintech startups and global tech giants, the Boston Consulting Group (BCG) has warned. Banks have been told they have to “maximize security, minimise complexity, and add value beyond pure payments” if they want to survive in transactional banking. The BCG has slammed banks’ poor [...]
Deliveroo launches corporate service in fight against Uber and Amazon September 26, 2016 Deliveroo is ramping up its fight against rivals such as Uber and Amazon with a new corporate service squarely aimed at business workers. The food delivery startup will launch the new dedicated "Deliveroo for Business" service this week with British Land, Innocent Drinks, Survey Monkey and Eventbrite already on board. Read more: Cheers! Now Deliveroo's delivering [...]
Funding Circle: Global expansion almost doubles losses at fintech unicorn and peer-to-peer lender Funding Circle September 25, 2016 Losses have almost doubled at fintech unicorn and lending platform Funding Circle, Morning Wire understands. The peer-to-peer lending group is set to post a full-year loss of £36m when it publishes its accounts on Tuesday, after expanding into Europe and the US ate into profits. However, revenues at the firm, which was founded in 2010 [...]
EU funds for 600 startups have been unfrozen after Brexit pause September 25, 2016 Millions of pounds in funding for startups from the European Union that were put on hold after the vote to leave Europe have been unfrozen. Cash from the EU Regional Development Fund was paused by the Treasury almost immediately following the vote for Brexit putting at risk a shot in the arm for the country's tech [...]
Snapchat to change its name to Snap Inc September 24, 2016 Messaging startup Snapchat has announced plans to change its name to Snap Inc., reflecting its move into other products. "We decided to drop the “chat” and go with Snap Inc!," it said in a statement today. It coincides with the release of its first hardware product Spectacles — sunglasses that can record up to 30 second videos [...]
Snapchat unveils sunglasses with a built-in camera September 24, 2016 Messaging startup Snapchat revealed its first foray into hardware today, with the release of video-sharing sunglasses. The widely-anticipated device, which the company is calling Spectacles, can record up to 30 second videos at a time and will go on sale later this year priced at $130 (£100). It's also changing the name of the company to Snap Inc., Snapchat said today. "We’ve [...]
Four reasons Twitter is a prime takeover target September 23, 2016 With (more) rumours of a takeover sending share prices up by more than 20 per cent, Twitter’s run of bad luck may about to be over. But why would a firm known for its inability to make money be an appealing takeover prospect? Here's why the company might not be such a bad bet… 1. Its share [...]
Twitter’s share price just shot up on rumours Google and Salesforce are planning to buy it September 23, 2016 Twitter shares whooshed higher on the opening bell in New York after internet rumours suggested two of the world's largest tech companies might make formal bids for it. CNBC reported that Salesforce and Google may make a formal bid shortly, causing shares to jump 20.6 per cent to $22.38 in late morning trading in New York. Reuters later [...]
Amazon has just been fined 0.01 per cent of its second quarter profits for shipping dangerous goods September 23, 2016 Amazon has been fined £65,000 by Southwark Crown Court after it was convicted of breaching rules on dangerous goods. The online retail giant was found guilty earlier this week on four counts of causing dangerous goods to be delivered for carriage in an aircraft after it tried to ship lithium ion batteries (which have been banned from flights [...]
Humans do have a ‘sixth sense’ and scientists have just found the gene for it September 23, 2016 Are you always bumping into things? Do you wonder why you’re clumsier than your compatriots? It may all be down to genetics. Scientists in the US have discovered a gene in humans that controls the ability to sense where parts of your body are in space, which may explain why some of us are more [...]