London AI startup InstaDeep bought by BionTech in half-a-billion deal January 11, 2023 London based AI startup InstaDeep has been bought out by biotechnology giant BioNTech in a half-a-billion pound deal. InstaDeep focuses on machine learning and artificial intelligence, and has raised nearly £100m across four seed rounds. The deal will allow BioNTech to use InstaDeep’s machine learning to “improve its drug discovery process, including developing personalised treatments tailored [...]
Nokia tech sales dragged by expired licences as it warns on consumer spending October 20, 2022 Nokia’s tech sales have continued to be dragged down by “expired licences that are in litigation” and pending renewal, the company said today. The Finnish telecoms company, which also warned of weaker spending from consumers amid a global economic downturn, reported today that sales from its technologies business has fallen nearly 20 per cent in [...]
Another British tech firm opts for a New York listing as UK’s science superpower dreams fade March 21, 2023 A Cheshire biotech start-up led by a former NHS doctor has floated in New York today after snubbing London’s market due to a dearth of specialised investors. Zura Bio, led by Oxford graduate Dr Someit Sidhu, announced it had merged with special purpose acquisition company (SPAC) JATT acquisition corp this morning in a deal that [...]
Forget tech, hospitality or transport: These are Britain’s most profitable sectors September 13, 2022 At the beginning of this year, the UK counted around 5.6 million private sector businesses. Described as the backbone of the UK’s economy, SMEs account for 99.9 per cent of all businesses in Britain. With house prices currently at a record high, it’s no surprise that business and property services are amongst the sectors making the most profit in the [...]
Huawei out of ‘crisis mode’ after years of US restrictions on Chinese tech giant December 30, 2022 Huawei, the Chinese technology giant, says it has emerged from “crisis mode” after years of US restrictions that have stifled its overseas sales, even though its revenue for 2022 failed to grow from a year earlier. “US restrictions are now our new normal, and we’re back to business as usual,” Eric Xu, Huawei’s current chairman, [...]
Dyson pours £100m into new Bristol tech centre as part of £2.75bn investment plan May 3, 2023 Dyson is pouring £100 million into a new technology centre in the UK, in addition to a new site in the Philippines and factory in Singapore, as part of its £2.75bn five-year investment plan. Dyson, which makes vacuum cleaners, fans and hair appliances, said today the new Bristol centre would be home to hundreds of [...]
Hunt reportedly set to retain SMEs 19 per cent tax rate amid fears for tech March 12, 2023 Small and medium sized enterprises (SMEs) are set to hold on to the 19 per cent rate of company tax amid concerns for the future of the UK’s tech sector, the Mail has reported. Chancellor Jeremy Hunt will hand small and medium businesses major tax breaks to boost investment in the spring statement this week, [...]
Exclusive: Tech chiefs look to win over pension funds on UK ‘sovereign wealth fund’ plans March 6, 2023 Tech and fintech industry chiefs have met with some of the City’s top pension funds as part of plans to create a UK “sovereign wealth fund” that could help unleash a wave of funding into the UK’s tech startups, City A.M. can reveal.
Online tech regulation needs to change business models, not censor content October 7, 2022 Molly Russell’s tragic story highlights why regulation is needed. But the Online Safety Bill is not the answer.
Spotify asks Apple to play nice, tiff between tech giants gets heated December 15, 2022 A podcast featuring Spotify’s CEO called Apple out for making the tech market unfair. Spotify has been campaigning for years to have free and fair market competition in the tech sector and have levelled accusations that Apple is harming developers and other streaming services. Over the years Apple has refused to allow competing app stores [...]