Cazoo staff in line to share £400m payout in IPO Darktrace valued at over $3bn ahead of float Spy chiefs plough £100m into British tech firms Digital GP app Babylon mulls $4bn US listing James Titcomb: Spare us the talk of democratising money – Bitcoin is about getting rich Sign up here for our daily technology newsletter D eliveroo has slashed its target valuation by almost £1bn after major City investors shunned the takeaway firm’s bid to go public. The Amazon-backed food delivery app has cut its float offer price to between £3.90 and £4.10 per share, blaming volatile market conditions. This values the company at up to £7.85bn – which is £950m less than when shares were initially marketed for between £3.90 and £4.60 each. It comes after a string of major British asset managers said they would not invest in the company amid concerns about its treatment of drivers and the control being retained by founder Will Shu, an American former … [Read more...] about Deliveroo slashes valuation by £1bn as City shuns public float
Maharashtra institute of technology
Global climate targets can only be reached with a major acceleration in clean-energy innovation , as many of the technologies required to bring down CO2 emissions are currently only at the prototype or demonstration phase. This is the conclusion of a joint report released Tuesday from the European Patent Office (EPO) and the International Energy Agency (IEA). "Around half the emissions reductions to get to net zero by 2050 may need to come from technologies that are not yet on the market," said IEA Executive Director Fatih Birol in a press release. The report "Patents and the energy transition: global trends in clean energy technology innovation" looks at trends in low-carbon energy innovation between 2000 and 2019 in terms of international patent families (IPFs). An IPF represents a unique, high-value invention for which a patent application was filed at two or more patent offices around the globe. Patent applications can be considered an early indicator of future … [Read more...] about Tech needed to halt climate change still underdeveloped
Rakesh Kumar Nayal runs a grocery store in the suburbs of Mumbai, a shop the 55-year-old has been running for the last 18 years. "The business is down by 25%," he said. "Only those people who have our cellphone numbers place orders with us, others are using online services like Grofers and D-mart. I have five employees and four hours of operations do not justify their salary or our expenses. Sometimes the police also harasses us to shut the shop. We bring our shutters down and do our business in this congested and airless shop. It is very difficult." Hundreds of retailers in Mumbai, India's financial capital, face similar challenges. Worst hit by the lockdown are stores that deal in non-essential services, as they aren't even allowed to open at all, even for four hours. The $300-billion-strong (€250 billion) Maharashtra economy went into a weekend lockdown on April 4 with a nighttime curfew, followed by a complete lockdown announced on April 14, in an attempt to control the … [Read more...] about India: Mumbai COVID lockdown spells trouble for businesses
At the beginning of March, it seemed that India had the COVID-19 pandemic under control. But a number of public events over the past few weeks have seen the virus take hold with devastating consequences. India's health ministry has announced yet another record number of cases and deaths in the last 24 hours, with 379,257 new cases and 3,645 new deaths. Live COVID updates from across the UK and around the world World Health Organization (WHO) experts and leading doctors say large gatherings have played a major part in a dramatic rise in cases. A religious festival lasting several weeks, which began on 11 March, saw more than three million people gather on the banks of the River Ganges. Pilgrims to Kumbh Mela, which is celebrated about once every 12 years by Hindus, believe a dip in the holy river will wash away their sins. Regional governments throughout the country have now asked those who have taken part to self-isolate and get tested. The chart below shows how the … [Read more...] about COVID-19 crisis in India: Record number of cases and deaths – but are mass gatherings to blame for COVID surge?
Pressure is growing to expand access and production to COVID vaccines, as the US announced Wednesday it would support a proposal to temporarily suspend intellectual property (IP) patents on vaccine technology. The proposal, originally brought by India and South Africa to the World Trade Organization (WTO) in October 2020, contends that allowing drugmakers in poorer countries access to the technology will speed up the production of vaccines. The US had previously opposed the waiver proposal, arguing it would stifle innovation. The EU and the UK have also opposed the idea. On Thursday, the EU cautiously said it is "ready to assess" how the proposal could ramp up global vaccine production. The term "vaccine nationalism" has long been used to describe how high-income countries have prioritized securing vaccines for their own populations, while lower-income countries must wait for doses. Health officials around the world have warned since the beginning of the pandemic that … [Read more...] about Will waiving vaccine patents end ‘vaccine nationalism?’