CITY NEWS TBT
INTEL CAPITAL INVESTS IN
DISRUPTIVE STARTUPS
INTEL Capital, Intel Corporation’s
global investment organisation,
announced at the Intel Capital
Global Summit new investments
totaling US$117 million in 14
disruptive technology startups.
The 14 companies joining Intel
Capital’s portfolio are creating
powerful artifi cial intelligence
(AI) platforms; new ways to
see and analyse materials for
the built world and our bodies;
more effi cient and greener
manufacturing technologies; and
disruptive new approaches to chip
design.
“Intel has driven disruption for
the last 50 years, changing the
way we live by making compute
ubiquitous. Intel Capital is
continuing that legacy of disruption
with these investments,” said
Wendell Brooks, Intel senior
vice president and president of
Intel Capital. “These companies
are shifting the way we think
about artifi cial intelligence,
communications, manufacturing
and health care – areas that will
become increasingly essential in
coming years as the linchpins of a
smarter, more connected society.”
Intel Capital puts between
US$300 million to $500 million
into innovative companies
across a wide range of emerging
technologies making the
impossible possible.
HUAWEI POSTS
STRONG RESULTS
DESPITE WOES
HUAWEI released its
2018 Annual Report and
despite the recent media
storm surrounding the
networking giant. They
report sales revenue
rounded off at CNY721.2
billion, up 19.5% yearon
year; its net profi t
reached CNY59.3 billion,
up 25.1% year-on-year.
In 2018, Huawei invested
CNY101.5 billion (14.1%
of its sales revenue)
in R&D, ranking fi fth
globally in The 2018 EU Industrial R&D Investment Scoreboard.
At the release of its annual report, Guo Ping, Huawei’s Rotating
Chairman, said, “Information communications technology is rapidly
working its way into every industry. This has triggered a digital,
intelligent transformation – the driving force behind our digital
economy. Through heavy, consistent investment in 5G innovation,
alongside large-scale commercial deployment, Huawei is committed to
building the world’s best network connections. Throughout this process,
Huawei will continue to strictly comply with all relevant standards
to build secure, trustworthy, and highquality products. As we work
towards this goal, we have been explicitly clear: Cyber security and
user privacy protection are at the absolute top of our agenda. We are
confi dent that the companies that choose to work with Huawei will be
the most competitive in the 5G era.”
© sompong_tom - stock.adobe.com
HMRC GETS TOUGH ON DISGUISED REMUNERATION
HMRC
is gearing up to take
action against more than 40,000
businesses and individuals who
have taken part in disguised
remuneration schemes in order
to avoid their full tax liabilities.
HMRC’s new loan charge
against these tax avoidance
schemes, which came into
force on Friday 5th April 2019,
could see businesses slapped
with huge fi nes.
Disguised remuneration
schemes have proliferated
since the 1990s and typically
involve individuals receiving
the majority of their income
as a “loan”, usually via an
offshore trust in low or no tax
jurisdictions such as Cyprus,
Malta and the Isle of Man.
Individuals are typically
paid enough to use up their
tax-free personal allowance
and protect their entitlement to
state benefi ts, while receiving
the rest of their income as
a loan designed never to be
repaid, which means that Income
Tax and National Insurance
are avoided. Successive
governments have attempted to
tackle this form of tax avoidance,
which is estimated to cost
taxpayers hundreds of millions
of pounds per year.
QUOTE OF
THE MONTH
“The retail
business
is growing,
despite the fact
the market is
challenging right
now. We are
winning good
share because
we have a very
strong service for
retail to take to
their customers.
That was around
£420m last year.
There is more to
come this year
because vendors
are attracted
by that low cost
we have in the
business, which
helps drive
good value into
retailers. We are
expecting that
to grow another
10% this year
despite the fact
the overall retail
market is going
backwards.”
Alex Tatham,
MD of Westcoast
Read the full
interview on p18
April 2019 www.technologybusinesstoday.com 11
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