UK entrepreneurs hit out at plans to toughen takeover rules

  • Startup founders and venture capitalist in the UK are alarmed by proposed new laws to scrutinize foreign buyers buying and investing in British firms. 
  • The laws would impact firms operating in 17 so-called ‘sensitive industries’ such as artificial intelligence, quantum computing, and data. 
  • Any prospective major investors or buyers would need to pass the scrutiny of a new Investment Security Unit.
  • Charles Delingpole, CEO of anti-fraud startup ComplyAdvantage, warned the move would “effectively give the government a veto” over any foreign acquisition. 
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Venture capitalists and founders in the UK have expressed alarm at government plans to limit foreign companies from buying up British firms, warning such a move could be “risky for the startup ecosystem”. 

On Wednesday, the UK government announced a proposed overhaul of takeover laws that give it greater power to scrutinize foreign acquisitions of and investment in UK companies in

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Japan Telecom Firms Challenge $40 Billion NTT Takeover Bid

Japanese telecoms firms appealed Wednesday to the communications ministry over a planned $40-billion takeover of the country’s biggest mobile carrier by its government-backed parent, warning it would “prevent fair competition”.

NTT announced in September its plan to buy out remaining shares in NTT Docomo, in a potentially record-breaking deal.

NTT currently holds 66 percent of NTT Docomo’s shares, and its chief executive argues the move would enhance “competitiveness and growth”.

But on Wednesday, 28 Japanese telecom companies including Docomo rivals SoftBank Corp and KDDI sent a joint letter to the communications minister protesting against the move.

Making Docomo a wholly owned company “will create a powerful force that dominates the market”, they argued.

Japanese telecoms firms argue a takeover of NTT Docomo would prevent fair competition Japanese telecoms firms argue a takeover of NTT Docomo would prevent fair competition Photo: AFP / Behrouz MEHRI

“It will prevent fair competition in the telecoms market and user benefit created through competition could be lost.”

The

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Technology takeover: Senior housing seizes a new internet world

Where COVID-19 forced them into isolation, a senior housing complex now has the tools to connect digitally

CLEVELAND — Scranton Castle sits in Cleveland’s Clark Fulton neighborhood. The apartment building is a tight-knit community of senior citizens, the majority of whom are Hispanic.

“We are all helping each other, and I make sure everybody is wearing their mask, especially in tight spots, like the elevator and hallways,” said Angel Torres, who not only lives at Scranton Castle, but works there too.

More coronavirus stories can be found here

Keeping COVID-19 from sweeping through the property is priority No. 1, but the trade-off has been isolation from the outside world.

“The inability to connect with their friends and family has impeded them from truly feeling themselves,” Marilee Santiago, who is the Director of Education and Training for the MetroHealth Institute of H.O.P.E., said.

Every Tuesday, tables and plexiglass shields go up

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