Investor Guy Hands on the Today programme: "Without renegotiating Brexit "the economy is frankly doomed <which means> steadily increasing taxes, steadily reducing benefits and social services, higher interest rates and eventually the need for a bailout from the IMF"
The boss of Pret says he believes working from home IS a long term trend and Pret is changing their business model to reflect changing customer behaviour with more focus outside city centres
@bbcr4today
@BBCBusiness
I am thrilled to be joining
@TheTimes
as their Technology Business Editor, starting in June.
It’s such an exciting patch, covering Tech and Media, telling stories that affect us all and that feature some of the biggest characters in business.
I've started
@TheTimes
business desk covering tech and media. If you’ve got a story you’d like exploring, get in touch and we can talk confidentially.
✉️: Katie.Prescott
@thetimes
.co.uk
📱Telegram:
@Katie_Prescott
Visa is suspending its Russian operations “Effective immediately, Visa will work with its clients and partners within Russia to cease all Visa transactions over the coming days. Once complete, all transactions initiated with Visa cards issued in Russia will no longer work…
Cut-price tech salaries in London ⬇️ “Developers are increasingly based here, while the marketing team remains in NY. Python developers, Buckland says, can command between $250-350k in New York, while the equivalent are paid about $75k in London” 🔗
It does piss me off that sections of the UK’s vital tech economy are grappling with a funding crunch - which is going largely unnoticed while the rest of the country blathers on about a football pundit’s political views.⚽️
I say a sad farewell to my lovely
@bbcbusiness
colleagues here & around the world. It has been a privilege to work with you these last 12 years and on so many different BBC programmes, docs and podcasts. I’ll miss you!
"I have to try and be positive about it from a business perspective. But from an honesty perspective, and in terms of what I actually see out there, the increasing levels of poverty in the UK is moving up the up the economic level".
While Bank of England says “SVBUK has a limited presence in the UK and no critical functions supporting the financial system.” Yes but, it plays a MASSIVE role in the tech start up ecosystem here. Someone told us yesterday (unsubstantiated) it catered to 60% of VC backed bizzes
"It's not just the 17% of children who suffer from malnutrition in the UK, it is now middle class people who will not be able to pay their mortgages, who are finding it difficult to make ends meet and it will move across the whole of society."
British technology companies wrote a thank you letter to
@Jeremy_Hunt
on Monday, as the safety of their deposits were assured with the sale of Silicon Valley Bank UK to HSBC. It read ⬇️
Wow. Punchy rebuttal from the UK's watchdog, says the European Commission is wrong: “Microsoft’s proposals, accepted by the European Commission today, would allow Microsoft to set the terms and conditions for this market for the next ten years...
BREAKING UK citizens can go to Spain without being quarantined from tomorrow - the Spanish foreign minister has just announced. No news on any change to quarantine restrictions for those coming back to the UK.
"The level of fraud in the UK is such that it must be considered a national security threat" a stark warning from UK Finance this morning. Over £609.8 million was stolen by criminals in the first half of this year. A drop but only "because last year was exceptionally high"!
BREAKING: Shell has announced its intention to exit its JVs with Gazprom. Includes the 27.5% stake in the Sakhalin-II LNG facility, 50% stake in the Salym Petroleum Development and the Gydan energy venture. It also intends to end its involvement in Nord Stream 2.
Tech-related press releases 🤯 Come on people. If you can't explain it in plain, simple English and I don't get it, it is unlikely readers will understand it. The jargon, the made up words....
People often ask about the difference between
@BBCNews
&
@thetimes
: there is a language barrier. Today my colleague was asked to do a "TickTock". This is not - as I presumed - a jazzy explainer video on a social media site. No. It's an account of events over the past 72 hours ⏲️
💥BREAKING: Europe has given the green light to Microsoft’s mega merger with Activision Blizzard, a hammer blow to the British competition watchdog that took the opposite view and blocked the tech giants’ tie up only last month
@TheTimes
@TimesBusiness
*HM Treasury statement - Silicon Valley Bank UK*
The Chancellor spoke to the Governor of the Bank of England this morning regarding Silicon Valley Bank UK, and they agreed to stay in close contact and for officials to continue to work closely together.
@campbellclaret
@BBCNews
Hi Alastair, I wrote this piece. The extraordinary queues recently at Dover are mainly down to capacity being down by a third as P&O ferries routes are out of action. This is why fresh meat companies want a priority lane.
Lots of questions about who is affected by the collapse of
#SVBUK
. We don’t know. The Treasury was on a fact finding mission about this yesterday. But to give you a sense of it, here are some of the stories I’ve heard over the weekend
Hugely emotional morning ahead as more than 40 former post office owners will find out if their criminal records will be wiped clean after years of fighting. They were convicted on the basis of a flawed software system known as Horizon which showed up shortfalls in accounts
The world feels messed up when on the one hand I’m reporting on
@elonmusk
$20bn share sale via the whim of Twitter, and on the other
@JohnSimpsonNews
reports that £200,000 is needed to save an area of Afghanistan from starvation.
Anyone who has ever read a World Service news bulletin - or had to announce Dara Khosrowshahi as the new boss of Uber at 5am - will understand the value of the BBC’s Pronunciation Manager 🎤
Business groups FURIOUS about the vote result. British Chambers of Commerce “businesses failed by Westminster” 🍽Food & Drink Federation “another body blow” CBI “enough is enough” FSB “Stop playing games” ⚙️Make UK “farce” ✈️ADS & 🚘SMMT “jobs at risk”
@BBCBusiness
Tech PR: discuss. It's amazing and worrying how many companies can't explain what they do in plain English. 🤯use analogies if necessary or at least explain the significance
I’m making a World Service programme about career changes & the pandemic. Has lockdown made you rethink what you want to do with your life? Pushed you into something else? I’d love to hear your stories
#journorequest
This is the 4am group of hardcore and BRAVE Take That fans waiting through a stormy night outside Radio 2 for a glimpse of the band
#howdeepistheirlove
#ponchos
. My generation is so fearless.
Africa’s missing maps: Africa is urbanising at break-neck speed, so how do people keep track of where anything is or flood risks? It's a job for cartographers, armed with drones. Listen to our first mapping programme here:
CMA ‘an aggressive chihuahua’ -
@DavidSacks
“If you’re a start-up and you’re trying to consider where to put your Europe office, I would not choose the UK any more”. 🔗
Deputy Enterprise Editor
@hannahprevett
welcomes a room full of entrepreneurs to the News Building, who’ve all been featured by the paper. Quite a group….
...They would replace a free, open and competitive market with one subject to ongoing regulation of the games Microsoft sells, the platforms to which it sells them, and the conditions of sale."
In the first bankruptcy hearing, FTX administrators said a "substantial amount of assets have been stolen or are missing" from the business. Cyber hacks continue and FTX has hired a cyber security business.
...This is one of the reasons the CMA’s independent panel group rejected Microsoft’s proposals and prevented this deal." - Sarah Cardell, Chief Executive of the CMA
People who don't pay their mortgage during the pandemic SHOULD have a note of that on their credit rating, according to the boss of Nationwide. But "not a big black mark" This is people who take up 'mortgage payment holidays'
@BBCBusiness
@BBCr4today
“Can you file a piece for the radio 4 8am bulletin?”.....”errrrr you’ll have to ask the baby and she’s not really on board”. Working from home....not working for me
Here’s a taste of what it’s like travelling in one of the
@wayve_ai
“hands-free” cars around the crazy roads behind Kings Cross (with CEO
@alexgkendall
)
Link here:
British driverless car start-up raises $1bn
I'm working on a piece about how businesses can start getting back to errrr business. If you're thinking about this or have plans to do so I'd love to hear from you
@bbcbusiness
#journorequest
ARM finally confirms it plans (initially at least) to float in NY over London in a massive blow to the UK government’s ambitions to make Britain a “science and technology superpower.”
Very excited about this. On Thursday 23 March
@hannahprevett
and I are hosting
@thetimes
Tech Summit, in partnership with
@SlackHQ
Registration and further details are here 🔗
🎥Sartorial nightmare now we have to once again use radio mics on TV at work. They were banned during Covid. Once again shoving a wire down your dress 10 seconds before a live. Something the blokes don’t have to worry about
Rolls Royce says that these mini nuclear power stations will be supplying the UK's grid by 2029 and that the first to be built will be put in former nuclear sites either in Cumbria or Wales.
@BBCr4today
@BBCBusiness
🔹👀 STILL MIA: The UK’s semiconductor strategy that the tech sector has almost universally pleaded for. It was due in the autumn. No news today as hoped! Meanwhile the US and Europe have put tens of billions behind their microchip industries.
Really excited to be presenting the inimitable
#WakeUpToMoney
@bbc5live
on Monday🎄Yes, yes it’s October…but we’ll be talking about Christmas with a company that thinks about it all year round 🛒 And we’ll look at what’ll happen to Morrison’s as it is auctioned this wknd
It is good to finally see the numbers: "As at 10 March 2023, SVB UK had loans of around £5.5bn and deposits of around £6.7bn. For the financial year ending 31 December 2022, SVB UK recorded a profit before tax of £88m. SVB UK’s tangible equity is expected to be around £1.4bn"