Santander’s added $100m to its fintech venture fund July 18, 2016 Santander is ploughing a further $100m (£75.3m) into its venture fund to invest in fintech startups around the world. The cash doubles the bank's UK-based venture investment fund, Santander InnoVentures, which has already invested in blockchain startups Ripple and Digital Asset Holdings. “A deeper investment in our fintech fund represents Santander's success in investing in disruptive new technologies that will help [...]
Arm founder bemoans “sad day” for British tech market as Japanese firm SoftBank makes play for chipmaker July 18, 2016 Arm Holdings founder Hermann Hauser has described the news that the chip manufacturer is likely to be sold to Japan's SoftBank as "very sad". SoftBank has made a £24.3bn bid for Arm, which was spun out of Hauser's Acorn Computers in 1990. Hauser now runs Amadeus Capital Partners, which he co-founded in 1997. "Arm is [...]
MPs call for post-Brexit digital plan – or risk UK’s fintech success July 18, 2016 The UK's position as a world leading centre for fintech is at risk if the government fails to address the issues facing the £20bn a year industry as a result of the vote to leave the EU, a leading group of MPs have warned. The government must act now to stop investor confidence in the UK's tech and [...]
Prime Minister and chancellor hail SoftBank’s Arm bid as a “vote of confidence in Britain” July 18, 2016 The Prime Minister and chancellor have today spoken out in support of SoftBank’s takeover bid for UK tech firm Arm Holdings. Cambridge-based Arm revealed today it had received a £24.3bn offer from the Japanese company, sending its share price up by more than 40 per cent. Read more: Paying an Arm and a leg? Chipmaker [...]
Paying an Arm and a leg? Chipmaker shares soar on news of £24.3bn SoftBank takeover bid July 18, 2016 British tech giant Arm Holdings has agreed to a £24.3bn takeover bid by Japanese telecoms group Softbank – and the new owners have big plans for growing the company. Shares shot up in early trading, then stuck there: shares in the Cambridge-based firm were up 42.6 per cent in late morning trading [stockChart code="ARM" date="2016-07-26 17:00"] Read [...]
How six City analysts reacted to Arm’s acquisition by Softbank July 18, 2016 Another ripe fruit was plucked from the tree of UK plc today, after Japanese lender Softbank announced it was acquiring Arm Holdings, the rockstar chip designer. Not surprisingly, shares in the company, whose clients include Apple and Samsung, shot up more than 40 per cent on the announcement of the news. But how did the City [...]
Another fintech startup – MarketInvoice – shakes off Brexit with millions in new funding July 18, 2016 Peer-to-peer lender MarketInvoice is another startup shaking off Brexit with a new multi-million pound round of funding as it nears the £1bn lending milestone. The London firm has raised £7.2m, led by Polish venture capital and private equity firm MCI Capital through its TechVentures Fund with further cash coming from existing investor Northzone, which boasts previous invesmtents in Spotify [...]
Post-Brexit Britain could become “data haven”, technology group says July 17, 2016 Brexit could transform Britain into a "data haven" for online firms if the EU opts for heavy-handed internet rules, according to an industry body. It comes as the European Commission mulls introducing laws which would control how the biggest tech firms use online platforms, such as search engines and social networks in Europe. The legislation would help address competition concerns. [...]
BT under pressure from Ofcom to offer discount services to pensioners and poorest families July 17, 2016 BT is under pressure from the regulator to offer a discounted service to pensioners and low income families. The firm wants to move to internet-based voice calls, and away from traditional telephone lines. This would be relatively low-cost and allow BT to make savings, The Telegraph reported. Read more: Telecom giants come to blows over airwaves But Ofcom [...]
Blockchain startup claims funding “milestone” and big name board members July 15, 2016 London-based blockchain startup Setl has named two new high-profile board members after closing its first private funding round. Rachel Lomax, the former deputy governor of the Bank of England, and Ed Richards, the former chief executive of broadcast regulator Ofcom, have joined ex-Barclays chairman Sir David Walker on the board. Setl also said it would be [...]