The UKâs financial regulator is cracking down on âunfairâ and âunclearâ contracts for buy now pay later (BNPL) products as data reveals use of the alternative payment method has skyrocketed. The Financial Conduct Authority (FCA) has enforced a requirement for firms in the BNPL sector to present customers with clear, easy-to-understand contracts that inform people ... Read more âș
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In the latest episode of the UKTN Podcast, Nigel Toon, co-founder and CEO of Graphcore, discusses all things AI safety ahead of the UKâs inaugural summit. Toon â who will be attending the AI Safety Summit â explains the danger of letting commercial interests and Big Tech shape regulations, and why he believes the government ... Read more âș
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The role of AI and how to regulate it has become a topic of increasingly fierce political debate. Predictions about how the technology will impact society have ranged from apocalyptic to utopian, and as such it was to be expected that this would be an issue at the forefront of tech agendas at this yearâs ... Read more âș
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Oxford University Innovation and Parkwalk Advisors have closed ÂŁ3m for its latest fund backing early-stage startups. Shared exclusively with UKTN, the University of Oxford Innovation Fund was initially set up in 2014 to back tech and science spinouts from the university. The close marks the sixth Innovation Fund to date. The fund â known officially ... Read more âș
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The chief executive of Nordic challenger bank Lunar has poured cold water on a rumoured merger with British bank Monzo. Lunar CEO Ken Villum Klausen said the fintech is focused on its Nordic expansion and that speculation over a deal with Monzo in July was âoverhypedâ. Speaking to Tech.EU, Klausen said: âWe donât have any intention ... Read more âș
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UK tech founders have called on the prime minister to embrace artificial intelligence products in the public sector, open up datasets and provide more incentives for startups ahead of the AI Safety Summit this week. The letter to Rishi Sunak â signed by the founders of 25 startups including Faculty, Stability AI and Mind Foundry ... Read more âș
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Prime Minister Rishi Sunak has announced ÂŁ100m in funding for an accelerator that will use AI to find treatments for previously incurable diseases. The AI Life Sciences Accelerator will be deployed over the next 18 months and target areas where artificial intelligence has the greatest potential to improve healthcare. âAI can help us solve some ... Read more âș
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North of England venture capital firm Northern Gritstone has announced its final close of ÂŁ312m, with more than ÂŁ150m coming from local authority pension funds. The VC firm will use the funds to back tech spinouts and startups in Leeds, Manchester and Sheffield. âReceiving the endorsements of asset managers, mayors and pension funds shows the ... Read more âș
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Venture capital firm NordicNinja has today revealed the appointment of former Tech Nation chief operating officer Row Knapp in the same role. Shared exclusively with UKTN, Knappâs appointment to NordicNinjaâs team follows the Helsinki investorâs move to the UK in September along with the launch of its ÂŁ172m fund. âI think a good operator should ... Read more âș
5
The government must âinterveneâ to ensure banks work with crypto firms after several financial institutions recently enforced bans, according to the UKâs crypto trade body. Speaking to UKTN, Su Carpenter, director of operations at CryptoUK, called out banks for their ârisk averseâ approach to cryptoassets. Last month, Chase UK announced the bank would no longer ... Read more âș
2
Banking software company Thought Machine has cut dozens of jobs in a âcost reduction exerciseâ potentially affecting as many as 70 staff, UKTN has learnt. Thought Machine CEO Paul Taylor said in a company-wide email, seen by UKTN, that the fintech is âcurrently going through a cost reduction exercise and as part of the process ... Read more âș
2
The British Design Fund has invested ÂŁ150,000 into Holdson, which makes electrochemical polishing machines. Based in Huddersfield, the startupâs electrochemical polishing machines are used to eliminate any contaminants or imperfections on the exterior of metals. Aaron Holt, CEO and co-founder of Holdson, said: âWhile existing solutions are costly and slow, our patented process is up ... Read more âș
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Multifi, a London-based fintech that provides credit services to SMEs, has raised ÂŁ10m in loan capital. The fresh funds will go towards Multifiâs credit facility offerings for small businesses. Multifi offers SME loans of up to ÂŁ200,000. âBusiness finance is overly complex, often leading to immediate rejection for enterprises needing funding. We aim to revolutionise ... Read more âș
0
Embedded finance startup Railsr has secured a ÂŁ20m funding boost from its existing investors months after it was rescued from collapse. Railsr, which supports the implementation of financial services for businesses, received the funding largely from previous backers such as D Squared Capital and Moneta Venture Capital, first reported by Sky News. The funding, confirmed ... Read more âș
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The UK has long been an attractive destination for international job-seekers and despite concerns around declining immigration post-Brexit, it continues to attract vast numbers of foreign workers â including for UK tech jobs. Thatâs according to recent data presented by Indeed at a roundtable event held in its London HQ. The finding, led by analysts ... Read more âș
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The UK subsidiary of the German-based Rocket Factory Augsburg AG has received a ÂŁ3.5m funding boost from the UK Space Agency to launch from the Shetland Islands. Rocket Factory UK has also been granted âexclusive accessâ to launch its 30-metre tall rocket from SaxaVord Spaceportâs Fredo launch pad. âWe are eagerly anticipating our inaugural orbital ... Read more âș
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Jan Hauser is the co-founder and CEO of Applifting, a software and product development studio. Applifting was founded in 2014 by Hauser with Filip Kirschner and Vratislav Kalenda. It validates, designs and builds apps for companies, with clients including UK fintech startup Braid. Its main headquarters is in Level 39, a co-working space in Canary ... Read more âș
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The Online Safety Bill, which sets tougher standards for social media companies, has become part of UK law after receiving Royal Assent. From today tech companies such as TikTok, Facebook and Snapchat will be legally required to âprevent and rapidly remove illegal contentâ. The law is aimed at making the internet a safer place and ... Read more âș
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Prime Minister Rishi Sunak has said he will address artificial intelligence fears âhead-onâ as the government publishes a report committing to understanding the current and future risks of frontier AI. The government said its new report would âinform discussionsâ at the AI Safety Summit, set to be held in Bletchley Park next week. The report ... Read more âș
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UK venture capital funding continued to drop in the third quarter of 2023 but there were signs of stabilisation following a challenging investment year. VC firms invested $5.2bn (ÂŁ4.3bn) in UK companies between July and September, a $400m decrease on the prior quarter, according to data published by professional services firm KPMG. That marks a ... Read more âș
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Tech Wire Asia
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26% 10 |
Business Insider
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26% 4 |
Eurogamer.net
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6% 2 |
The Verge
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5% 1 |
Android Authority
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4% 1 |
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30.11.2024 02:33
Last update: 02:20 EDT.
News rating updated: 09:20.
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