The payments landscape can be — and frequently is — shaped by both innovations and regulations. And with the news that businesses in the United Kingdom have just two weeks left to prepare for the Oct. 1 enactment of the Employment (Allocation of Tips) Act 2023 (referred to as “the Tipping Act”), companies that pay...
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UK’s CMA Says Google’s Ad Tech Practices May Violate Competition Law | PYMNTS.com
The United Kingdom’s Competition and Markets Authority (CMA) said Friday (Sept. 6) that it has found that Google may have harmed competition by using its dominance in online display advertising to favor its own ad technology services. The regulator added that it will accept comments on this “statement of objections” before deciding whether the company has...
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UK, US, EU Sign First International AI Treaty
The UK has signed the world’s first international treaty on artificial intelligence — alongside the European Union, the United States, and seven other countries. The agreement commits signatories to adopting or maintaining measures that ensure the use of AI is consistent with human rights, democracy, and the law. These measures should protect the public against...
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UK Competition Watchdog Accepts Meta’s Proposed Changes to Ad Data Use
Meta’s new approach to handling advertiser data has been approved by the U.K. Competition and Markets Authority. This comes ahead of the rollout of a new digital markets competition regime, which will grant it more power to quash the monopolistic behaviours of big tech companies. As well as approving Meta’s commitments, the CMA has also...
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AI Statistics 2024: $25m+ Investment Surge in U.S. and UK Businesses
A new report has found that 8% of U.K. and and 7% of U.S. decision-makers plan to spend over $25 million (£19.5 million) on AI initiatives this year. This comes after many investors voiced their concerns about the technology’s capabilities and their potential return on investment. According to the 2024 State of AI report from...
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UK Government Announces £32m of AI Projects
The U.K. government has announced a £32 million investment into 98 AI projects that promise to cut train delays, speed up prescription delivery, and reduce supply chain emissions. This comes days after it was revealed that the £1.3 billion earmarked for AI supercomputers had been scrapped. The companies receiving financial backing include V-Lab, which is...
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Cash App Exiting UK to Increase Focus on US
Cash App says it will exit the British market as it focuses on the U.S. The mobile payments service announced Thursday (July 19) that it was shutting down Cash App UK on Sept. 15 after six years. “We do not make decisions like this lightly, as we know they impact our customers, our partners, and...
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How UK SMBs Can Prepare for 5G Rollout
With many UK businesses prioritising digitisation, a strong network connection is becoming a key driver of the nation’s economy. This is why the UK government has invested £40 million in extending 5G coverage to all populated areas of the nation by 2030. A reliable network connection is arguably most crucial for small and medium businesses....
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Top 5 Cloud Trends U.K. Businesses Should Watch in 2024
As business data demands increase, cloud providers and their customers find themselves having to consider the implications of increasing storage costs, security risks and environmental footprint. Such impacts are of particular importance to U.K. organisations, as it is the largest cloud market in Europe. TechRepublic spoke to U.K. cloud experts to identify the top five industry...
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GB News set to axe 40 jobs after channel posts heavy losses
GB News has announced a round of redundancies with 40 jobs set to be lost at the broadcaster amid mounting losses, it’s reported. The job cuts come after the channel posted a pre-tax operating loss of £42.4m for the year to the end of May, 2023, up from £30.7m in the previous 12 months. GB...
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UK Store Closures Put Spotlight on Digital Shoppers
One of the U.K.’s oldest retailers, Marks and Spencer (M&S) announced last week it plans to shutter 110 stores during the next five years. This news comes only weeks after reports that the British division of The Body Shop was closing nearly half of its 198 U.K.-based stores and reducing its headcount by 40 percent....