Articles about investment

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Capita forced to pay out £66m to investors over Connaught fund farce

Capita's investment business has been forced to pay up to £66m to investors by the Financial Conduct Authority (FCA) over its handling of the collapsed Connaught Income Fund. The Connaught Income Series 1 Fund opened in March 2008 and provided short-term bridging finance to commercial operators in the UK property market, and …
Kat Hall, 10 Nov 2017
Roadworks: fibre optic cable being laid

Revised 'Broadband 2.0' report: 6.7m Brits suffer 'sub-10Mbps' speeds

MP Grant Shapps has released the final version of his latest report into broadband speeds in the UK, which concludes 6.7 million people may not receive speeds above 10Mbps. In his foreword to the cross-Parliamentary Broadband 2.0 report, signed by 57 MPs, Shapps notes that Ofcom's current connectivity data "fails to …
Kat Hall, 31 Jul 2017
Piggy bank, image via Shutterstock

Microsoft wants to fling money at startups. Don't all rush at once

Microsoft is stretching out its foot to dip a tentative toe into the waters of early stage investment, under a revamp of its Microsoft Ventures programme. Announcing the plans to plough more money into startups, Nagraj Kashyap, veep at Microsoft Ventures, said: "In Microsoft’s history of engaging with and supporting startups, …
Kat Hall, 31 May 2016

Celebrities fronting startups again? Now we're interested!

Move over Stephen Fry: a retired Australian rules footballer, motivational speaker and reality television contestant is fronting a startup. As pitched by the Australian Financial Review, Jason Akermanis (a famous-in-half-of-Australia athlete and Celebrity Apprentice contestant ) has become the face of “unbreakable” crypto …
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Google Ventures ventures away from European investments

Google Ventures is to scrap its separate investment vehicle for Europe amid disappointing prospects in the region, according to reports. In a blog post following the renaming of the fund to GV this week, chief executive Bill Maris said the investment vehicle had poured cash into 39 companies in 2015. The outfit, which has …
Kat Hall, 7 Dec 2015
Data scientist image via Shutterstock

UK lawmakers warn Blighty to invest more in science, or else

The UK government is endangering "competitiveness, productivity and jobs", due to its systematic underinvestment in science and R&D, Whitehall's Science & Technology Committee has warned. A damning report on the UK's Science Budget said the UK has fallen below the OECD average for R&D investment in science and is "well below" …
Kat Hall, 9 Nov 2015
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It's the white heat of the tech revolution, again!

Worstall on Wednesday It's more normally Mr Orlowski around here shouting that Mariana Mazzucato is a poopyhead, but given that she's just been appointed to Corbyn's economic advisory team, perhaps it's time to add to the chorus? For Mazzucato is, as we all know, the economics professor who insists that actually government really invented the …
Tim Worstall, 30 Sep 2015
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SEC takes $30m pound of flesh in newswire-hacking scandal

A Ukranian investment company and its CEO are going to pay the US government $30m for trading on info swiped from press releases before they were made public. The US Securities and Exchange Commission (SEC) said Jaspen Capital Partners Ltd and CEO Andriy Supranonok illegally profited from investments made based on stolen press …
Shaun Nichols, 14 Sep 2015
Uber launch party by https://www.flickr.com/photos/5chw4r7z/ CC2.0 sharelalike attribution https://creativecommons.org/licenses/by-sa/2.0/

Uber holds out hand, hails another $1bn – mostly from Microsoft

Unlicensed taxi service Uber has plumped up its war chest with another $1bn, with much of the latest funding round reportedly coming from Microsoft. Citing anonymous sources, The New York Times reports that Redmond contributed "a substantial amount" of the $1bn, which brings the car app firm's total valuation close to $51bn. …
Neil McAllister, 31 Jul 2015
Taylor Swift

Bring on the Music, Apple: Spotify ups the ante - and money pot

Music streaming biz Spotify has raised $115m (£75m) from an investor, part of the latest funding round which — according to reports — values the company at a staggering $8.5bn (£5.7bn). Swedish telephone biz TeliaSonera AB today confirmed it has handed over a further $115m to Spotify, with the company having been an investor …
Kat Hall, 10 Jun 2015
Workers in a Foxconn plant, credit: Steve Jurvetson from Menlo Park, USA

Foxconn joins the Cyanogen investment party

Chinese iPhone manufacturer Foxconn has joined Twitter, Qualcomm, Telefónica and others to swell Cyanogen’s round C funding to $110m. Neither company is saying how much Foxconn is investing, but before the announcement the round C stood at $80m. The money will go to build on the Cyanogen platform – which riffs on Android – “ …
Simon Rockman, 13 May 2015
Stack of dollars. photo by shutterstock

Slack raises $160m from investors, gets mega $2.8bn valuation

Workplace chat app Slack has confirmed it has raised $160m (£106m), valuing the company at $2.8bn (£1.9bn), according to reports. The Slack service allows employees to create and manage internal message boards for individual projects and departments. Previously the company was valued at a mere $1.2bn (£800m). In an interview …
Kat Hall, 17 Apr 2015
Snail photo Jurgen Schoner CC wikimedia

'Granola-eating tree hugger' takes plunge, becomes IoT upstart

Doing my own 'ting When I wrote my last startup-diary instalment I was still at my desk in the City a few days each week. In the months since then I and my co-conspirator in OpenTRV have both handed back the keys of the courtesy helicopters and Ferraris that all IT folks get there (uh huh…) and gone full-time on our planet-saving mission - halving …
Jeroen Hoencamp is the boss of Vodafone UK

Voda UK CEO says one thing about not-spots, Minister of Fun says another

Don’t hold your breath for better mobile phone coverage. While Vodafone UK CEO Jeroen Hoencamp is hopeful that the government will do its bit as part of the not-spots agreement, Minister of Fun Ed Vaziey claims he’s already done it. We asked Hoencamp how he felt about having signed up to the not-spots deal when all the …
Simon Rockman, 27 Mar 2015
Android 5.0 "Lollipop"

Cyanogen finds $80m in collecting tin after busking session

Bloatware-free Android version Cyanogen has some powerful friends. The company has passed around the investors' collecting tin and come up with $80m. Those friends are Twitter Ventures, Qualcomm, Telefónica Ventures, Indonesian telco Smartfren Telecom, Index Ventures, Access Industries (the US-based industrial group headed by …
Simon Rockman, 24 Mar 2015
Funnel of cash. Credit: via SXC – http://www.sxc.hu/profile/Leonardini

Bloody TECH GIANTS... all they do is WASTE investors' MONEY

Worstall on Wednesday The idea that the tech giants are simply going to waste the pots of cash with which they have been entrusted is certainly counter-intuitive, but it wouldn't surprise me at all if they did. For that's pretty much the fate of all investment: to be wasted. It's an odd claim, because there do appear to be successful examples of …
Tim Worstall, 25 Feb 2015
Bitcoin bloodbath

Bitcoin trade biz MyCoin goes dark, investors fear $387 MEEELLION lost

Investors fear they may be $387m (£254m) in the red after a Hong Kong Bitcoin biz fell silent. The investment and trading website MyCoin reportedly closed its Kowloon offices a few weeks ago, and the company has not yet responded to inquiries from The Reg and other publications. According to the South China Morning Post, …
Shaun Nichols, 10 Feb 2015
War of the Worlds

Elon Musk snowed under with Googley dollars for Space Internet

SpaceX has confirmed a meaty injection of cash from Google and Fidelity, after it was reported that the ad giant was closing in on an investment deal of up to $1bn with Elon Musk's firm. It means that Google and Fidelity now "collectively own just under 10 per cent of the company," SpaceX said in a brief statement, without …
Kelly Fiveash, 21 Jan 2015

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