The UK governmentās tech department has set its sights on cutting red tape with the launch of a new regulatory office that it hopes will fast track the approval of new technologies.Ā Announced last year as a key manifesto pledge from Labour, the Regulatory Innovation Office (RIO) will work with existing regulators to update rules ... Read more āŗ
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Vodafone has struck a billion-pound deal with Google as it looks to deepen its AI and cloud offering to customers. The British telco today unveiled the 10-year tie-up, which will include using Google Cloudās gen AI across its TV set top boxes and Google Cloudās Vertex platform to build machine learning models and AI applications ... Read more āŗ
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This weekās podcast guest is Gene Burros, global policy council for the Coalition for App Fairness (CAF). Burros discussesĀ how Apple and Google use their dominant position in the app store market to unfairly treat app developers and the legal battle taking place over this.Ā Burros joined CAF ā a group of app developers advocating for ... Read more āŗ
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SumUp revenues jumped in 2023 as the payments firm prepares for a share sale that could value it at as much as $9bn. The London-based business, known for its distinctive card readers, posted revenues of ā¬188m (Ā£156m) for the period, a rise of 26% compared to the previous year ā though its growth rate slowed ... Read more āŗ
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A former executive at the London-listed research company Oxford Instruments has joined the board of directors at the motion capture firm behind the holographic tour of the pop group ABBA.Ā Ā Ian Wilcock, who spent more than eight years at Oxford Instruments across numerous roles ā including managing director of resonance and member of the executive ... Read more āŗ
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The boss of a leading UK cloud provider to the financial services sector has said he finds it ābizarreā that many British banks and fintechs partner with big US cloud companies as he announced another successful year of growth. Gordon McArthur, CEO of AIM-listed cloud firm Beeks, suggested that it was not in the best ... Read more āŗ
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Confidence in the London markets has been tested again as a small-cap tech investor announced its decision to cease trading shares in October. London-based Quantum Exponential Group said in a company update that at a general meeting, the resolution to cancel the admission of shares on the AQSE Growth Market passed. Trading in Quantum Exponential ... Read more āŗ
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The CMAās cloud investigation drags slowly on. Itās such a big and complex topic that the regulator has given itself up to four more months to get it finished. TheĀ submissionsĀ made in response to the cloud enquiry are equally wide ranging and complex, including those from the chief protagonists of the investigation, AWS and Microsoft. As ... Read more āŗ
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This weekās UK tech funding deals include warehouse robotics company Dexory, novel cancer therapeutics developer Enara Bio, AI supply chain analytics startup Ameba and more. UKTN tracked 108.6m worth of UK tech investment this week (30 September to 4 October), a 26% week-on-week decrease across 10 funding rounds. Hereās your weekly roundup of UK tech ... Read more āŗ
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As many as a third of all payments fraud cases will not be covered under new reimbursement regulations due to be implemented next week, raising concerns over how the rules will incentivise behavioural changes of fraudsters and fraud detection specialists. Under the new Authorised Push Payment (APP) scams introduced by the Payment Services Regulator (PSR) ... Read more āŗ
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Billionaire Mike Ashleyās Frasers Group has joined backers of a Ā£40m investment fund targeting early-stage startups in the AI and data space.Ā London and Belfast-based VC firm Iona Star has raised Ā£22m in the first close of its new fund.Ā The Iona Star fund will target AI and data startups with investments between Ā£1m and ... Read more āŗ
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Charlotte Lucy Hall is the co-founder of Zinc, a startup providing background screening and reference checking technology for hiring managers. In this weekāsĀ Founder in Five Q&A, Lucy Hall discusses motivating a team by being vulnerable, running a startup with her significant other and why femtech is an industry to watch. What advice would you give ... Read more āŗ
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HSBC Innovation Banking has appointed Simon Bumfrey as its new interim CEO as it continues its search for a permanent replacement to outgoing chief Erin Platts. Banking industry veteran Bumfrey, 60, has served as head of relationship banking at HSBC Innovation Banking for the past year and had worked at its previous incarnation, Silicon Valley ... Read more āŗ
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Revolut has blasted recent measures from Meta to tackle digital fraud as ābaby stepsā as the fintech demands social media firms be made liable to reimburse victims.Ā Responding to the expanded partnership between Meta and UK banks, announced this week, Revolut has argued that financial institutions are unfairly being given the responsibility to refund fraud ... Read more āŗ
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British retailers are mounting a fresh lawsuit against Amazon after accusing it of āunlawfulā freezing of sales proceeds. The legal action claims the ecommerce giant has been wrongfully freezing the cashflow of sales made on its platform, with some retailers claiming as much as Ā£300,000 in sales have been unfairly blocked.Ā The legal action is ... Read more āŗ
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Monese has borrowed money from card company Pockit as it scrambles for fresh sources of funding after shareholder HSBC wrote off the value of its investment. The London fintech entered into a debt agreement in September, fresh company filings show, with Pockit acting as the lender. The size and terms of the deal were not ... Read more āŗ
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An Oxford-based biotech company developing ācutting-edgeā cancer treatments has been backed by US pharmaceutical giant Pfizer and research group the Francis Crick Institute.Ā Enara Bio on Thursday announced a $32.5m (Ā£24.7m) Series B funding round.Ā With more than three million estimated cancer patients in the UK and around 167,000 deaths annually, according to Macmillan Cancer ... Read more āŗ
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Ameba, a London-based AI startup developing supply chain insights software, has raised $7.1m (Ā£5.3m) in a seed funding round. Founded in 2023, the West London startup has developed an AI platform to automate the extraction of data from across supply chains to generate insights into the source and status of products. āBrands today face intense ... Read more āŗ
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Starling Bank has been fined Ā£29m by the UK financial watchdog for failings in its financial sanctions screening system. The Financial Conduct Authority (FCA) said on Wednesday that Starling, worth over $3bn, repeatedly breached a requirement to not open accounts for āhigh-riskā customers. According to the regulator, Starlingās jump in users from 43,000 in 2017 ... Read more āŗ
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UK banks have agreed to share āintelligenceā with Meta in an effort to combat financial scammers. Meta announced on Wednesday that the Fraud Intelligence Reciprocal Exchange (FIRE), which was launched as a six-month pilot in the Spring, will be expanded. The exchange agreement means participating banks share fraud intelligence with Meta, which uses it to ... Read more āŗ
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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 05:31
Last update: 05:25 EDT.
News rating updated: 12:23.
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