JP Morgan prepares to launch UK digital bank next year August 21, 2020 JP Morgan Chase is reportedly preparing to launch an online bank in the UK early next year. The investment bank is finalising plans to open its UK challenger bank in the first quarter of 2021, according to Sky News. It has signed up suppliers to provide cloud and digital banking infrastructure, including Amazon Web Services [...]
Keeping the algorithms in check March 22, 2021 Researchers are looking into the best ways to police algorithms to ensure AI doesn't do financial harm.
FTSE 100 and US stocks climb as investors regain poise September 9, 2020 The FTSE 100 and US stocks have risen after a bloodbath on global markets yesterday saw big tech names plunge. London’s blue-chip index rose 1.3 per cent to 6,009 points in afternoon trading. The FTSE 250 – the 100’s little brother – fell 0.2 per cent, however. Read more: Tesla shares set for worst day [...]
Amazon becomes most valuable company after overtaking Microsoft January 7, 2019 Amazon reclaimed its crown as Wall Street’s stock market darling this evening, passing Microsoft to take the lead in a three-horse race which has seen fellow tech giant Apple fall behind in recent weeks. Microsoft’s six-week run as the largest global company by market value was ended when the bell closed on Wall Street today [...]
SpaceX receives $2bn boost in latest funding round August 18, 2020 Elon Musk’s SpaceX has raised a further $1.9bn (£1.4bn) in funding, a regulatory filing on Tuesday revealed. It raises the equity value of the billionaire’s private rocket company to $46bn, Bloomberg reported ahead of the funding round last week. It is the largest single fundraising round conducted by SpaceX yet, according to PitchBook data. It [...]
France calls on EU to adopt digital tax in 2021 if OECD talks fail September 11, 2020 France has called on the European Union to implement a digital tax by the first quarter of 2021 if an agreement cannot be reached within the Organisation for Economic Co-operation and Development (OECD) framework. Speaking at a Eurogroup meeting of eurozone finance ministers in Berlin this morning, French finance minister Bruno Le Maire reiterated the [...]
Boohoo and Nike grilled over supply chain links to slave labour in China November 5, 2020 MPs this morning grilled fashion firms, including Boohoo and Nike, over potential supply chain links to slave labour and exploitation in China. The retailers’ sourcing and sustainability bosses were today called in to give evidence to the Business Select Committee, as part of an investigation into the extent to which the products of forced labour [...]
Just Eat Takeaway confirms ‘advanced talks’ to buy Grubhub June 10, 2020 Delivery giant Just Eat Takeaway today confirmed it is in advanced talks to buy Grubhub, in a bid to establish itself as a major rival to Uber in the US. Netherlands-based Just Eat Takeaway said it is “advanced discussions with Grubhub” for an all stock-purchase of the company. Grubhub, a US food delivery startup with [...]
Tech rout wipes $13bn off Softbank’s market value September 9, 2020 A run of bad days on the stock exchange has taken around $13bn off the market capitalisation of Softbank, after investors grew concerned at its exposure to risky tech bets. Softbank’s shares closed down three per cent as markets shut in Tokyo today, extending a slump that has seen its share price fall around 10 [...]
Jeff Bezos launches climate change fund with $10bn donation February 17, 2020 Amazon founder and chief executive Jeff Bezos has revealed he will be committing $10bn to the cause of fighting climate change, with the launch of the Bezos Earth Fund. The billionaire said in an Instagram post the fund would be used to provide grants to non-governmental organisations (NGOs), scientists and activists — or “any effort [...]