Latest Economy News


Mastercard RD boss says Facebook digital currency has ‘good intentions’

Ken Moore said Mastercard believed the social network was trying to remove some of the challenges around cryptocurrency Facebook’s new digital currency has “good intentions” in wanting to remove some of the challenges around cryptocurrencies, a Mastercard executive has said. The social network has announced plans to launch its Libra digital currency as part of… Read More


NTT combines Dimension Data, NTT Communications, and NTT Security into $11 billion entity

New $11bn IT services entity to be headquartered in London Japanese telecommunications company NTT Corp has consolidated three of its key IT businesses into a single $11bn (£8.7bn) business. The new technology services arm is called NTT Ltd and is made up of Dimension Data, NTT Communications and NTT Security. In total 28 brands have… Read More


Sir Nick Clegg calls for Big Tech regulation but defends Facebook

Facebook’s VP of global affairs defended the company and said it had been the victim of a ‘tech lash’ of suspicion Facebook’s head of global affairs Sir Nick Clegg has reiterated his belief that increased regulation of tech firms can not be done solely by the internet companies themselves. Sir Nick said it should not… Read More


The UK tech sector produces a unicorn each month

The UK produced 13 firms valued at more than 1 billion US dollars over the past year The UK tech sector has produced one unicorn firm each month over the past year, according to new figures. The UK has created more unicorn tech companies, firms valued at more than 1 billion US dollars, than any… Read More


UK tech investment in fine health, fintechs flourishing

Despite growing scrutiny over the strength of its economy, the UK remains a safe bet for venture capital  A new report from trade organisation Tech Nation shows the UK is outperforming other European countries in terms of tech investment. Fintechs are the standout performers, attracting £4.5bn of funds between 2015 and 2018 – establishing the… Read More


Huawei boosted the UK economy by £1.7 billion in 2018

Oxford Economics report shows the Chinese firm added £1.7 billion to the UK economy in 2018 An independent report claims Huawei boosted the UK economy by £1.7 billion in 2018, as the debate over the company’s security continues. A study by Oxford Economics, commissioned at the end of last year, said the Chinese firm now… Read More


EU investment in British tech sector reaches record high despite Brexit

Investment into UK’s booming tech sector leapt to a record high of £1.89 billion in 2018, up from £1.66 billion in 2017 European investment in the British tech industry surged last year as the sector shrugged off Brexit uncertainty, according to a new report. Cash injected into the thriving tech sector from Europe jumped to… Read More


UK tech sector growth hits three year low, says KPMG

Brexit and US-China trade war blamed for loss of momentum in Q4 2018 While the UK tech industry is withstanding the worst effects of an adverse economic climate, escalating political uncertainty and global trade frictions are beginning to bite the buoyant sector, according to KPMG. In Q4 2018 the UK tech industry scored 52.4 on KPMG’s UK Tech… Read More



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