City grandee Bob Wigley sued over collapse of Yellow Pages-owner Hibu August 7, 2019 City grandee Bob Wigley has been named in a multi-million dollar lawsuit relating to his time as chairman of Yellow Pages-owner Hibu and the company’s collapse in 2013. The lawsuit, which was filed last week in the US, accuses Wigley and other directors and officers of the former FTSE 100 firm of deliberately crashing the [...]
Real wages rise as UK inflation stays at two per cent July 17, 2019 The prices in UK shops rose by two per cent in the 12 months to the end of June, official figures have revealed, with clothing and food costs rising most rapidly in the last year. Read more: UK unemployment stays at 45-year low as wages tick up The two per cent consumer price index (CPI) [...]
Foreign secretary Boris Johnson says Saudi Arabia’s sweeping reform programme is “hugely beneficial” to the UK too March 10, 2018 Boris Johnson said Saudi Arabia’s Crown Prince’s “sweeping reform programme” was “hugely beneficial” to the UK too, following bilateral meetings this week. At the end of a three-day visit from Mohammed bin Salman, the foreign secretary said: The Crown Prince’s sweeping reform programme is bringing positive economic and social changes to the country. These reforms [...]
Darktrace’s bright future: The CEO behind the company tipped to be the UK’s next tech unicorn March 12, 2018 In the heart of London, in the middle of the Strand, the office of Darktrace sits almost like a fortress; a sea of calm in the chaos and uncertainty that reigns in every global city. From here, maths whizzes and former intelligence officers have helped build a product sought after by multi-billion pound companies keen [...]
Hot UK cyber security startup Darktrace raises $75m series D at $825m valuation July 11, 2017 One of the Uk’s hottest startups has millions of pounds in fresh funding, pushing the firm’s valuation surging past the half a billion dollars mark. Cyber security startup Darktrace has raised $75m (£58m) in a series D round of funding, valuing it at $825m, almost double of what it was when it raised $65m this [...]
As Uber’s new boss Dara Khosrowshahi jets to London for licence talks with TfL, he faces a board battle with Travis Kalanick too October 1, 2017 Uber’s newly installed boss Dara Khosrowshahi is facing fresh trouble on home turf as he prepares to jet to London for crunch talks over its licence to operate in the capital. Having taken the driving seat at the top tech firm just weeks ago, Khosrowshahi is already facing multiple battles in a hangover from his [...]
Mike Lynch launches $150m lawsuit against Hewlett-Packard in UK High Court October 1, 2015 Another chapter in the never-ending saga that is Hewlett-Packard's fight with former Autonomy boss Mike Lynch, after Lynch announced today he was launching a $150m lawsuit against the US printer manufacturer in Britain's High Court. In a statement today, Lynch accused HP of making "many statements that were highly damaging to me and misleading to [...]
At the frontline: The cyber threat is becoming ever more subtle November 8, 2016 On any given day, typing the words “cyber attack” into Google News will give you a fresh medley of hacking stories. Hollywood and Edward Snowden may have romanticised the perpetrators of these crimes, but behind most of the headlines sit one or more business owners who are the victims of these devastating breaches. Darktrace and its 330 [...]
Darktrace is now worth $500m and has IPO ambitions October 3, 2016 One of the UK's hottest tech startups is now worth half a billion dollars and has ambitions to go public, City A.M can exclusively reveal. Darktrace, the cyber security startup which boasts backing from top Silicon Valley venture capitalists, Wall Street investors and former Autonomy entrepreneur Mike Lynch, was valued at $450m after a major round [...]
This UK cyber security startup just landed $65m July 6, 2016 A UK-founded cyber security startup backed by Mike Lynch, who sold his previous business to HP for billions, has landed millions of pounds in new funding from investors. Cambridge and San Francisco-based Darktrace has closed a $65m (£50m) round of funding lead by Wall Street private equity giant KKR. TenEleven Ventures and SoftBank's SB ISAT fund are new investors [...]