Google will abandon Dutch and Irish tax loopholes, as rules shift on both sides of the Atlantic
Google says it will no longer use the controversial “Double Irish, Dutch sandwich” tax scheme, a set of loopholes that have allowed it to pay a single-digit tax rate on profits made outside the US, according to Reuters. In the widely used tax strategy, companies first transfer funds from an Irish subsidiary to a Dutch holding company, […]
The UK’s competition authority will investigate Amazon’s investment in Deliveroo
Amazon’s move to invest in the London-based food delivery platform Deliveroo will be investigated by the UK’s Competition and Markets Authority (CMA), the agency announced Friday, according to The Guardian. The CMA raised concerns earlier this month that Amazon’s £442 million investment would lead to higher prices and reduced quality of services for consumers, restaurants, and grocers. […]
Co-founder and former CEO Travis Kalanick steps down from Uber’s board
Uber co-founder Travis Kalanick will step down from the company’s board at the end of the year, cutting ties with the ride-sharing platform and selling the rest of his shares, according to Ars Technica. Investors ousted Kalanick as Uber’s CEO following a series of scandals and scrutiny of the company’s workplace culture in 2017, but he […]
French startup Majelan raises another €6m for its personalized podcast platform
The French podcast platform Majelan has raised an additional €6 million in funding, according to EU-startups.com, to develop its app offering thousands of podcasts in one place. The startup is also publishing original audio content to compete with established companies like Apple, Spotify, Audible, and Luminary. “Podcasts are growing in popularity in France, with more than […]
German court ruling effectively bans Uber from operating in Germany
A Frankfurt court has effectively banned Uber’s ride-hailing service in Germany, according to Reuters, in yet another major setback for the company after losing its license to operate in London. In Germany and much of the European Union, Uber exclusively works with licensed drivers through private hire vehicle companies, to comply with a 2017 decision from the region’s […]
Belgian firm Odoo raises $90m to develop and expand its business software platform
The Belgian firm Odoo has raised $90 million to fund product development and global expansion for its all-in-one business software, according to Tech.eu. Odoo Enterprise offers 30 applications to help businesses of every size run nearly every aspect of their company, from accounting to manufacturing, project management, marketing, human resources, and eCommerce, to name just a […]
The startup behind TikTok trials new music app, taking aim at Spotify and Apple Music
A new music streaming app from the company behind TikTok could soon challenge the dominance of Apple Music and Spotify, according to The Independent. TikTok’s parent company ByteDance has been trialing the app in Indonesia and India, nations with some of the world’s largest populations, where users are already familiar with the company’s video-sharing platform TikTok. Called Resso, […]
London startup Portify raises £7m, offering credit building and financial tools for self-employed and gig workers
The London fintech startup Portify has raised £7 million in a Series A funding round, for its platform to help gig economy and self-employed workers manage their finances, according to TechCrunch. In addition to financial planning with Open Banking to track and plan finances through a mobile app, the company also wants to help workers access credit […]
Waymo acquires the UK firm Latent Logic, using ‘imitation learning’ to help self-driving cars learn human behavior
Waymo has acquired the UK artificial intelligence firm Latent Logic, giving Alphabet’s self-driving car company its first foothold in the UK, according to The Guardian. With roots at Oxford University, Latent Logic specializes in a type of machine learning called imitation learning, which models the behavior of human drivers and pedestrians to help emulate and react to […]
Paris startup Outsight raises €18 million to develop 3D sensor cameras for smart cities and self-driving cars
The Paris-based startup Outsight has raised €18 million in seed funding, tying for the largest seed funding round in Europe this year, to develop AI-powered, 3D sensor cameras for drones, autonomous vehicles, and smart city infrastructure, according to Venture Beat. Outsight’s 3D Semantic Camera can not only perceive, but also interpret its surroundings and environment. It […]