Online retail sales have contracted at the sharpest pace on record this month, dragged lower by people cutting back on their spending because of higher interest rates and an uncertain economic outlook. Monthly internet sales dropped to a weighted balance of -78 per cent in the year to October, the biggest decline since 2009 and […]
Bitcoin reached a 17-month high on Tuesday amid rising speculation that US regulators will approve stock market funds that invest directly in cryptocurrency. The price increased more than 10 per cent to $34,872 a token, pulling back the losses seen in last year’s crash. The surge was driven by hopes that the Securities and Exchange […]
Aston University’s Vice-Chancellor has told Birmingham Tech Week that diversity is the region’s ‘superpower’, and it must be used to drive forward tech innovation. Professor Aleks Subic, Vice-Chancellor and Chief Executive of Aston University, closed the week-long event which is the UK’s largest regional tech festival and conference. Speaking at the black-tie dinner and awards […]
Major online firms including Amazon, Booking.com, Expedia and Tripadvisor have united to fight fake reviews. The group, which also includes workplace review site Glassdoor and review platform Trustpilot, will share information on deterring fraudsters. It follows concern that chatbot-like AI systems are being used to write bogus online reviews for profit. Fake reviews can damage […]
New research has found that 70% mid-market firms are currently planning, implementing, or have already implemented a sustainability strategy. More strikingly, as many as 9 in 10 are planning to invest at the same or an increased rate to put their sustainability efforts into practice, driven by the belief that strong ESG (Environmental, Social and […]
Amazon will relaunch its delivery drones in the UK next year, the shopping giant has confirmed. The company said it will begin using the unmanned, airborne vehicles for distributing goods from some of its same-day delivery sites – one of which will be in the UK. No location has yet been revealed. It’s part of […]
BT is branching out from its telco business into household appliances and a subscription service in a rebranding effort to accelerate customer growth. EE, BT’s mobile and retail division, will diversify its offerings by introducing household electronic goods, such as smart fridges and coffee machines, as soon as next year. The company is also set […]
UK SMEs are investing nearly half of their annual turnover on technology to counteract rising costs and retain competitiveness. That is the findings of the latest Barclays Business Barometer and according to the bank’s research, the most innovative SMEs in the UK are spending 48% of annual revenue on technology, with 45% doing so to […]
A growing number of social ventures are emerging from universities, aiming to make a real difference to communities across London and further afield. These companies need capital if they’re to grow, and a new project launching this autumn will lay the foundations for a self-sustaining social venture fund. The London Social Venture Fund will seek […]
Australian giant Fortescue has unveiled a £19 million innovation centre in Kidlington, Oxfordshire. The fourth-largest iron ore producer in the world says the facility will be home to 300 highly skilled workers, with up to 50 more jobs to be created across the next year. It adds to a pledge to create more than 1,000 […]