The Treasury is exploring the creation of a “digital pound” based on stablecoin technology, almost a year after the department stated its goal to establish the UK as a “global cryptoasset hub”. Economic Secretary to the Treasury Andrew Griffith told the Treasury Select Committee that the government was a “long way down the road… to ... Read more ›
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Cybersecurity company Darktrace has cut its revenue forecast after what the CFO described as a “very pronounced” slowdown in sales last month. Darktrace said it expected its revenue to increase by around 29% at the end of the financial year, down from the previous projection of as much as 34%. The company was listed on ... Read more ›
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A Conservative MP has called on the business secretary to review the takeover of Cambridge-based semiconductor startup Flusso by a Shanghai shell company with ties to the Chinese state. Alicia Kearns MP, chair of the Foreign Affairs Select Committee, said that the £28m deal “represents a significant economic and national security concern”. It comes after ... Read more ›
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London-based AI company InstaDeep has entered into an agreement to be acquired by the German tech firm BioNTech in a £562m deal. Founded in 2015, InstaDeep has become one of Britain’s most promising tech firms, scoring major money deals for its Series A and Series B funding rounds, including a $100m investment in January 2022 ... Read more ›
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Oxford-based autonomous vehicle software developer Oxbotica has secured new funding for its Series C with a $140m (£115m) investment, in a major boost to the UK self-driving vehicle sector. Oxbotica, which has developed a suite of autonomous vehicle software products, has become a notable player in the industry since it was founded in 2014. The ... Read more ›
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Truck manufacturer Tevva has received regulatory approval for its 7.5-tonne electric truck, paving the way for the company to begin mass production at its facility in Tilbury, a port town east of London. According to Tevva, it is the first British firm to be given EC Whole Vehicle Type Approval – a confirmation that the ... Read more ›
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London-based legal tech startup Apperio has today secured $7m (£5.8m) in funding as it seeks to expand its business in both the UK and the US. Founded in 2012 by Nicholas d’Adhemar, a former lawyer, Apperio provides legal spend analytics and matter-tracking software to law firms. The company was born out of d’Adhemar’s own experience ... Read more ›
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Cheshire-based medtech company QV Bioelectronics has secured a £2m funding boost for its “first-of-its-kind” brain tumour treatment. QV Bioelectronics has been developing technology called GRACE, an implanted medical device that uses electric field therapy (EFT). The technology works by exclusively targeting dividing cancer cells within the brain, avoiding healthy cells. The GRACE implant is currently ... Read more ›
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AutomatePro has raised £5m in Series A funding from investor YFM Equity Partners, through its British Smaller Companies VCTs, to expand its cloud software to the US market. London-based AutomatePro’s software provides automated testing and reporting for the cloud platform ServiceNow. Roshan Puri, investment director, YFM Equity Partners, said: “Intelligent automated testing is a key ... Read more ›
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Amazon has announced it will close three of its UK-based warehouses that collectively employ around 1,200 workers, though the US tech giant has also announced it will open two new fulfilment centres elsewhere. Warehouses in the Hertfordshire town Hemel Hempstead, the Yorkshire town of Doncaster, and Scotland’s Gourock have all been proposed for closure. A ... Read more ›
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Battery company Britishvolt is reportedly in talks to sell a majority stake as it continues to fight to stay in business, with company filings showing that it recently issued new shares to raise £67,143. On Monday, reports emerged that Northumberland-based Britishvolt asked for permission from investors to be replaced by a new investor in a ... Read more ›
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The UK retained its European dominance in fintech last year despite global investment in the industry decreasing in 2022 amid the economic slowdown, new data has found. The UK’s fintech industry body, Innovate Finance, found in its annual report that despite a slowdown in investment, Britain retained its position as the leading nation for fintech ... Read more ›
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The first satellite launch from British soil ended in failure after a technical fault in Virgin Orbit’s rocket meant it “fell short of reaching its target orbit”. Virgin Orbit said an “anomaly” that occurred in the second stage engine firing phase was the reason for LauncherOne failing to reach its intended orbit. Shortly after Virgin ... Read more ›
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The majority of angel investors in the UK have become more cautious and selective in their investments as macroeconomic worries slow UK funding, new data has shown. An annual survey of 246 UK-based angel investors, conducted by Portfolio Ventures, shows that the community of individual financiers has become more judicious with their cash. Some 53% ... Read more ›
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Co-Fund NI has invested £300,000 in Belfast-based IT company Kinsetsu, marking the Northern Ireland equity fund’s 100th investment. Overseen by Clarendon Fund Managers, the fund was established to support startups based in Northern Ireland as part of the Regional Angels programme. It invests with angels and private backers in investments ranging from £150,000 to £2m. ... Read more ›
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The government has made £7m in funding available to businesses developing technologies that decarbonise the freight sector by incorporating technology such as artificial intelligence (AI). Up to 36 small and medium-sized businesses will receive a share of the funding from the freight innovation fund in the next three years. “This fund will accelerate new ideas ... Read more ›
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Virgin Orbit has been given the go-ahead for the first orbital satellite launch from the UK, with the initial launch window starting on Monday at 22:16. Taking off from Spaceport Cornwall, Virgin Orbit’s Boeing 747 “Cosmic Girl” will climb to an altitude of 35,000 feet where it will drop its LauncherOne satellite payload. “We are ... Read more ›
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Insurtech scaleup Superscript has completed a £45m Series B funding round, in one of the first major UK tech investments of 2023. The London-based firm was founded in 2015 under the name Digital Risks. The company provides business insurance to companies through a flexible subscription service. Superscript has risen to relative prominence within the insurtech ... Read more ›
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Rishi Sunak, in what appears to have become a right of passage for a Conservative prime minister, has revived talks with semiconductor company Arm in the hopes of securing a London initial public offering (IPO). Sunak met with both Rene Haas, chief executive of Arm, and Masayoshi Son, CEO of Arm’s parent company SoftBank, according ... Read more ›
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The viral popularity of ChatGPT, a language model chatbot, has thrown generative AI into the mainstream. The technology, developed by OpenAI, has captured the imagination of more than a million users. From asking for cocktail recipes to penning a love song, users have been experimenting with ChatGPT’s instant conversational responses. However, it is the potential ... Read more ›
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15.06.2026 13:05
Last update: 13:00 EDT.
News rating updated: 20:01.
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