The Manchester Prize has returned for its second year as the British government hopes to incentivise AI innovation in the clean tech sector with £2m of prizes. First announced by former chancellor Jeremy Hunt during the 2023 Spring Budget speech, the Manchester Prize is an annual competition for AI developers in the UK managed by ... Read more ›
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This week’s podcast guest is Sachin Dev Duggal, founder, CEO and self-described chief wizard, of Builder.ai. Duggal discusses the ways people commonly misinterpret AI, the importance of allowing diverse groups input in regulation and lawmaking concerning the technology and the personal journey he faced through legal challenges overseas. Builder.ai is a Microsoft-backed startup that uses ... Read more ›
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The UK’s financial regulator is interviewing 20 ‘finfluencers’ under caution in a crackdown on fraud. The Financial Conduct Authority (FCA) said it had launched a targeted action against people who may be illegally touting financial products on social media. The regulator warned there has been a significant increase in this practice, adding that these influencers ... Read more ›
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Pre-tax profit jumped 74% last year at the UK arm of Uber Eats, the food delivery subsidiary of the mobility giant. In the latest accounts for Uber Eats’ UK entity, the group reported pre-tax profit of £18.4m for the year ended December 2023, up from the £10.5m the year prior. Turnover at the company, which ... Read more ›
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Plural, the investment group run by government AI advisor Ian Hogarth, has led a $22m (£16.9m) round into a London startup using light to train large language models (LLMs). Oriole Networks, a spinout from University College London, has raised a total of $35m this year, having previously raised £10m in March. Founded in 2023, Oriole ... Read more ›
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Businesses and individuals alike are navigating a landscape marred by unpredictability. As the World Economic Forum warns in its most recent global risk report, our outdated digital infrastructure and subsequent services are struggling to keep pace with the growing demands of the modern world. As emerging technologies like AI, Blockchain and even 5G hit everyday ... Read more ›
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The London Stock Exchange Group has fired a US-based employee over a “concerning video” that violated its policy against racism and discrimination. In a LinkedIn post, the London Stock Exchange Group said it had been made aware of the video, and that the member of staff had been initially suspended while an investigation took place. ... Read more ›
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Ella d’Amato is the co-founder and CEO of I love it, a social commerce startup in which AI curates the shopping experience, with users recommending their favourite purchase, acting almost like sales people. In this week’s Founder in Five Q&A d’Amato discusses how AI is misunderstood, breaking into the industry with no university degree and, of ... Read more ›
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The CEO of Boohoo is to step down after the British e-commerce firm reported a sharp drop in the value of its overseas sales. John Lyttle, who has been at the helm of the London-listed business for the past five years and previously worked as chief operating officer of Primark, had presided over a roughly ... Read more ›
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New rules designed to protect consumers from the risks associated with buy now pay later (BNPL) payments will be introduced in early 2025, according to the Treasury. The government is preparing to introduce requirements for affordability checks and consumer protections to prevent at-risk customers from accruing excessive debt through the use of BNPL. Announced by ... Read more ›
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The UK Space Agency has committed a £1m grant towards a project developing solutions to refuel satellites from space tech companies Magdrive and Orbit Fab. The firms signed a memorandum of understanding (MoU) to collaborate on the technology in the hopes of making space technology more sustainable and ambitious. The agreement centres around Magdrive’s SuperMagdrive ... Read more ›
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The chief executive of Ofcom has warned social media firms that disciplinary action including hefty fines will soon be enforceable via the Online Safety Act. Speaking on BBC Radio Five Live on Thursday, Ofcom CEO Dame Melanie Dawes said enforcement of the Online Safety Act – a law passed last year to prevent the spread ... Read more ›
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Britain’s financial watchdog is launching an AI lab to bring together tech firms, academics and regulators to better understand the technology’s present and future impact on financial services. Announced in a speech by Jessica Rusu, chief data, information and intelligence officer at the Financial Conduct Authority (FCA), the AI lab will support the implementation of ... Read more ›
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Mario Draghi’s recent European Competitiveness report painted a gloomy picture of European investment, stating that the gap in private sector growth between the bloc and competitors like the US and China is quickly growing. The report argued that Europe risks being left citing the decisions of 30% of their companies with unicorn valuations to leave ... Read more ›
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An online dating advert has been banned by UK regulators after being accused of featuring “sexist and negative gender stereotypes”. The ad was posted to social media site Reddit by US-based dating service Seeking.com, a trading name of a firm called W8 Tech Cyprus. It depicted an older businessman who throws away a photo of ... Read more ›
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Orders are down across the board at London-listed Just Eat Takeaway as the directors bank on gross transaction value (GTV) boosts to carry firm to profitability. In a trading update for the third quarter of 2024, Just Eat Takeaway reported a drop in orders in all of its markets including the UK and Ireland, North ... Read more ›
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Zilch has seen a near doubling in its annual turnover as the London fintech pared back its losses ahead of a possible IPO next year. The company posted revenues of £57.1m for the year to end March, a jump of 90% compared to the previous year according to figures filed with Companies House, while pre-tax ... Read more ›
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Fintech group CAB Payments could delist from the London Stock Exchange as it weighs up a potential takeover proposal from US payments firm StoneX. CAB Payments said it received a non-binding proposal from the Nasdaq-listed firm at a price of £1.45 per share, valuing it at £368.5m. According to CAB Payments, the proposal came following ... Read more ›
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Amid the hype surrounding all the ways in which generative AI can be put to work to solve any and all problems, one Cambridge-based startup claims the technology can be used to reverse the ageing process. Founded in 2017, Shift Bioscience is exploring how generative AI models can be used to understand how the activation ... Read more ›
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Wise shares have jumped around 5% as the London-listed fintech reported a bump in income in line with expectations. The cross-border payments firm, which went public in London in 2021, said in a trading update that underlying income had reached £337m for the second quarter of the 2025 financial year, a 17% increase from the ... Read more ›
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Venture capital funding raised by UK startups dropped sharply in the third quarter of 2024, new research has found, adding further pressure for founders in search of new investment. British startups secured around $2.9bn in VC funding in Q3, a 50% drop from the previous quarter, according to the latest report from HSBC Innovation ... Read more ›
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Most popular sources
Business Insider
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21% 12 |
Wired
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10% 6 |
The Verge
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8% 2 |
Android Authority
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7% 4 |
Tech Wire Asia
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7% 3 |
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27.11.2024 05:38
Last update: 05:30 EDT.
News rating updated: 12:32.
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