Author: Dave Antrobus

The shares of GB Group saw a notable rise of 11% after the release of their interim trading results. The company, specialising in identity verification and location services, reported approximately £137m in revenue for the first half of the year.This figure marks a slight increase from last year’s £132.4m and surpasses anticipations set by analysts. Such performance not only underscores the firm’s operational success but also highlights its potential for future growth in a competitive tech environment.Financial Performance Exceeds ExpectationsOn Thursday, GB Group shares experienced a significant surge, rising 11% in early trading. This boost came in response to interim…

Artificial intelligence is proving to be a game-changer in the fight against financial fraud. By analysing vast datasets, the U.S. Treasury Department has thwarted significant fraudulent activity.Within a single fiscal year, AI initiatives enabled the recovery of $1 billion worth of fraudulent checks, marking a significant increase from previous recoveries. This success underscores the rapidly evolving role of AI in financial security.The Treasury is actively expanding its use of AI, exploring additional data sources to enhance fraud detection.Collaborations with state agencies target fraud in unemployment insurance programs, representing a proactive approach to financial crime prevention.By broadening its AI capabilities, the…

The UK Space Agency has awarded a substantial grant to advance satellite refuelling technologies, marking a significant milestone in sustainable space exploration.Magdrive and Orbit Fab have signed a memorandum of understanding to collaborate on space refuelling solutions.Magdrive’s SuperMagdrive thruster aims to utilise space-sourced metal as a sustainable propellant.The funding is part of the National Space Innovation Programme, supporting innovative space technologies.This initiative signals a strategic move towards more efficient and economical deep-space missions.The UK Space Agency has allocated a notable £1 million grant to foster advancements in satellite refuelling technologies. This funding is awarded to Magdrive and Orbit Fab, two…

The Trump brand has expanded once more with the introduction of luxury timepieces. However, the journey to identify the company behind these watches leads to unexpected places.This investigation delves into the enigmatic entity responsible for Trump’s latest enterprise. A mailing address in a Wyoming shopping centre is the only tangible trace of this elusive company.Uncovering TheBestWatchesOnEarth LLCFormer President Donald Trump’s endorsement of ‘Swiss-made’ watches has intrigued many due to their luxurious appeal and high price tags. Yet, an investigation into these timepieces culminated in a shopping centre in northern Wyoming. This centre houses TheBestWatchesOnEarth LLC, a minimalistic office space, oddly…

Paddy Paddison, co-founder of Wildanet, has stepped into a significant position within the UK’s digital infrastructure sector. Appointed as the chief executive of the Independent Networks Cooperative Association (INCA), his role is pivotal in shaping the future of telecom in the region.Leadership Transition at INCAPaddy Paddison’s new appointment marks a strategic shift in leadership at INCA, succeeding its founder, Malcolm Corbett, who now takes on an advisory role. This transition signifies continuity and evolution as INCA continues to influence the telecommunications landscape.Mr Paddison aims to ensure the voices of INCA’s members are prominent in discussions relating to regulation, infrastructure, and…

N Brown has announced plans to leave the AIM market in favour of private acquisition. The move comes amidst dwindling interest in UK small-cap stocks, affecting its investment appeal.The company’s board deems the current public listing costly and unsuitable for its growth. The acquisition by a firm owned by Joshua Alliance aims to provide N Brown with the resources needed for future expansion.N Brown’s acquisition by a firm led by Joshua Alliance intends to boost the company’s growth by leveraging private resources. This acquisition, priced at 40p per share, values N Brown at approximately £187 million, which is a notable…

The Online Safety Act enforcement is imminent, necessitating social media companies to comply with new regulations.Ofcom CEO Dame Melanie Dawes emphasizes the urgency for social media firms to implement safety measures by Spring 2025.Companies failing to introduce proper safeguards may face fines up to 10% of their global revenue, with potential shutdowns for severe breaches.Ofcom collaborates with both large and smaller, risk-oriented companies to prepare for these regulatory changes.Legal experts stress the importance of strict penalties for non-compliance to ensure child safety online.The Online Safety Act, a legislation designed to curb the spread of harmful content on social media platforms,…

Britain’s financial regulator, the Financial Conduct Authority (FCA), has announced the launch of a new AI lab, highlighting its commitment to understanding AI’s impact on financial services.The AI lab will involve collaboration among tech firms, academics, and regulators to explore AI’s use and implications in finance.Jessica Rusu of the FCA emphasised the potential for AI to revolutionise financial services while acknowledging associated risks.The lab comprises four components: AI Spotlight, AI Sprint, AI Input Zone, and an enhanced sandbox for technology testing.The initiative reflects the FCA’s proactive stance in collaborating with technology developers to shape effective regulation.The Financial Conduct Authority (FCA)…

Goonhilly Earth Station, a prominent satellite facility in Cornwall, has secured a groundbreaking contract to facilitate communications for deep space missions. The agreement, signed at the International Astronautical Congress in Milan, is expected to enhance the United Kingdom’s space capabilities.Goonhilly Earth Station’s new contract with the UK Space Agency and international partners marks a significant advancement in space communications. The agreement, valued at up to £2 million this financial year, will support lunar missions and other deep space expeditions, bolstering the UK’s position in the burgeoning space economy.Sir Chris Bryant, speaking for the government, highlighted the importance of this contract…

The HS2 project, once shelved, may see a revival under the current government. Reports suggest phase 2a is back under consideration.Speculation abounds about the high-speed rail linking Birmingham and Crewe. Official announcements are anticipated.Reports indicate that the British Government under Prime Minister Sir Keir Starmer is considering reviving the controversial HS2 project, specifically phase 2a. This section, running between Birmingham and Crewe, aims to reassess the cost-benefit dynamics that previously led to its suspension. Sources suggest an official announcement may be imminent, highlighting a potential shift in strategic transport priorities.Additionally, the private sector may take the lead in constructing phase…