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Social media platforms should ‘open up’ algorithms to combat fake content, says Vĕra Jourová

European Commission Vice President Vĕra Jourová says tech companies need to work harder to eliminate fake accounts and the spread of disinformation online, following a report Friday from a NATO research group showing that fake content is still thriving on most platforms, according to Politico.  The report from the Latvia-based Strategic Communications Centre of Excellence showed […]

Regulators should prohibit cryptocurrencies like Libra, EU finance ministers say in joint statement

Regulators should prohibit cryptocurrencies like Libra, EU finance ministers say in joint statement

Digital “stablecoin” currencies like Facebook’s Libra project shouldn’t be permitted until regulators can assess and address the risks involved, according to a joint statement from Europe’s finance ministers. The statement solidifies past skepticism voiced by EU authorities, and likely amounts to a de facto ban on stablecoins—cryptocurrencies that, unlike bitcoin, are tied to an asset such as conventional currencies.  […]

UK startup Otta raises £850k in seed funding, to help job seekers find the most relevant opportunities

UK startup Otta raises £850k in seed funding, to help job seekers find the most relevant opportunities

The UK-based startup Otta has raised £850,000 in seed funding for its job search and recruitment platform, according to TechCrunch. The company’s platform prioritizes the needs of job seekers, an approach they say is long overdue in a recruitment market worth £35 billion in the UK and $150 billion in the US. They’ve now raised seed […]

Boris Johnson signals he could favor excluding Huawei from the UK’s 5G networks

UK Prime Minister Boris Johnson has signaled that he shares US security concerns over involving the Chinese firm telecom Huawei in Britain’s 5G network, according to The Guardian.  His statement suggests he could move to exclude the company from a role in building the network, in the clearest indication yet of his stance on the issue, […]

Fintech startup PixPay offers debit cards for teens, with tools for parents

The French fintech startup PixPay is offering a new alternative for kids and their parents to manage money, instead of cash or a conventional bank account.  Unlike with most other digital challenger banks such as Revolut, kids 10 years and up can create an account with PixPay, according to TechCrunch.  Often, conventional banks do little to meet […]

Telecel, MEST, and the IFC look to give African startups a leg up

There’s no doubt that Africa’s startup sector has been booming. Last year saw a four-fold increase in funding raised for African startups, with the total number of deals doubling. Startups across the continent raised over $725 million, soaring nearly 40 percent from $528 million the year before. There were also more large funding rounds over $5 million, with the […]

Paris-based startup Virgil raises €2.1m to help young professionals buy homes

The fintech startup Virgil has raised €2.1 million to provide funding for cash-strapped young professionals aiming to buy a home despite rising cost of living and stagnant wages, according to Tech.eu.  Virgil has now drawn investment from Alven Capital, LocalGlobe and Kima Ventures, along with angel investors such as Greg Marsh and Demetrios Zoppos, founders of onefinestay, […]

French startup Leavy.co raised $14m in seed funding, with an app to help travelers rent out their home while away

The Paris-based travel tech platform Leavy.co has disclosed a seed funding round that earned $14m earlier this year, according to TechCrunch. The company says it’s the most seed funding ever earned in a round by a travel tech startup. The platform allows travelers to rent out their home while away, and is geared toward millennials who […]

London revokes Uber’s license to operate, saying drivers were using fake identities

Uber has lost its license to operate in London, following findings that drivers had faked their identities to register on the platform, according to BBC News.  The city’s transit authority, Transport for London (TfL), declined to renew the company’s license at the end of a two-month probationary extension. The ridesharing platform had been warned that it […]

Investment in Europe’s tech startups surged 40 percent to a record $34.3 billion this year

European startups earned a record level of investment in 2019, drawing $34.3 billion in venture capital since the start of the year, according to the latest “State of European Tech” report from the London-based VC firm Atomico. It’s a 40 percent increase from the year before, and occurred even as US and Asian markets saw investment slowing.  […]