Katie Prescott
@kprescott
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Technology Business Editor @TheTimes // former BBC Business correspondent. Mum of 2 wild girls. ✉️ katie.prescott @thetimes .co.uk
London
Joined June 2008
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I’ve no idea if this is for real but someone just sent me this -
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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"
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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
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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.
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Nissan has announced it'll keep car production in Sunderland - which is about 6,000 jobs and tens of thousands more in the supply chain.
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Over the next two days, the Times business team is taking a look at the cost of Brexit. Starting with services today. Do have a read 🔗
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140 UK tech companies have written to the Chancellor today to ask for support following the collapse of SVB UK ⬇️
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After ten years of working on
@bbcr4today
in various guises, from producer to business presenter, it’s my last day on the programme.
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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
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BREAKING: ·BP will exit its 19.75% shareholding in Rosneft.
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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…
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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” 🔗
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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.⚽️
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Errrrrr twitter can you help?....a French tin....a mysterious key.....a strange metal tag.....already tried and failed with the English tin opener
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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!
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"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".
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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
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"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."
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Four-day week trial sees jump in productivity. Imagine a regular 3 day weekend?
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For those listening to Today and wondering what is going on, we have been evacuated from New Broadcasting House because of an alarm
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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 ⬇️
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NEW: More tech moves into London this morning. Microsoft is opening an "AI Hub" in the capital run by ex GoogleDeepMind-er Jordan Hoffmann.
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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...
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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.
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"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"!
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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.
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Excl: Copyright is being eroded by lack of action to control AI, say Lords.
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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....
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Saying farewell to
@dominicoc
this morning as he presented
@BBCBusiness
for the last time on
@BBCr4today
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💥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
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Founders of fintech unicorn Revolut slam the UK as a place to do business:
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*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.
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I’ve been ill so severely on and off since October that I’ve started wearing a mask again on public transport to try and stop catching stuff 😷🦠
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** And offering home delivery. They opened a 'dark kitchen' about 6 weeks ago which just does that
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@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.
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Someone just coughed on my train back to South London and the whole carriage ERUPTED in laughter. It was a great moment.
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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
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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
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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.
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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 🎤
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Looking forward to Chairing the opening of
@LDNTechWeek
with
@RishiSunak
@klarnaseb
@carolyn_informa
among others
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NEW: British start-ups are at risk after Silicon Valley Bank UK went bust. Their founders describe the scale of the damage
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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
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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
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Until the City ‘gets’ tech, British companies will keep crossing the pond
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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
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We are being allowed back in - normal service resuming shortly
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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.
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A smorgasbord of food has reached this junior doctor at St George’s -
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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:
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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”. 🔗
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I like working with
@EmmaLBentley
because she asks me questions like: “what’s the meaning of life?” and “what’s it like being 38?”
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Excl: Here you go for everyone asking - more of the schedule and attendees at today’s Bletchley Park AI Safety Summit, not revealed publicly
@thetimes
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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….
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...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."
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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.
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...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
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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
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“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
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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
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Here's a bit of what we filmed at Chessington World of Adventures as it re-opened today
@BBCBusiness
@BBCNews
- lovely log flume shots!
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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
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This is how Dar es Salaam’s
@RamaniHuria
group is mapping out the East African city - with drones above and volunteer boots on the ground
@HOTTanzania
@openstreetmap
@DFID_UK
@WBTanzania
@hotosm
@TreanorSarah
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FT is reporting SVB UK had nearly £7bn in deposits when the BoE deemed it insolvent on Friday
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Realise that the only parties I go to these days are leaving dos and birthdays for the under 7s.
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Spectacular account of Philip Green “an analogue man in a digital world, sees his empire turn to rags” by
@olivershah
@thetimes
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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.”
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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 🔗
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🎥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
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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
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🔹👀 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.
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John Lewis says "Online now accounts for more than 60% of sales, from 40% before the pandemic"
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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
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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"
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