The UK’s biggest carmaker is extending its annual shutdown in April over Brexit disruption fears.
Downbeat comments from Wilbur Ross come ahead of critical talks next week
Labor Market Is Doing Fine With Higher Minimum Wages Predictions of job losses and slower economic growth haven’t panned out. Bloomberg, January 24, 2019 Almost three years ago, we got a chance to watch a real-time experiment of the impact higher minimum wages would have on job creation after some localities passed laws to…
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Just this morning, robotic process automation (RPA) firm Blue Prism announced enhancements to its platform. A little later, the company, which went public on the London Stock Exchange in 2016, announced it was raising £100 million (approximately $130 million) by issuing new stock. The announcement comes after reporting significant losses in its most recent fiscal year, which ended in October.
The company indicated it plans to sell the new shares on the public market, and that they will be made available to new and existing shareholders, including company managers and directors.
CEO Alastair Bathgate attempted to put the announcement in the best possible light. “The outcome of this placing, which builds on another year of significant progress for the company, highlights the meteoric growth opportunity with RPA and intelligent automation,” he said in a statement.
While the company’s revenue more than doubled last fiscal year, from £24.5 million (approximately $32 million) in 2017 to £55.2 million (approximately $72 million) in 2018, losses also increased dramatically, from £10.1 million (approximately $13 million) in 2017 to £26.0 million (approximately $34 million), according to reports.
The move, which requires shareholder approval, will be used to push the company’s plans, outlined in a TechCrunch article earlier this morning, to begin enhancing the platform with help from partners, a move the company hopes will propel it into the future.
Today’s announcement included a new AI engine, an updated marketplace where companies can share Blue Prism extensions and a new lab, where the company plans to work on AI innovation in-house.
Bathgate isn’t wrong about the market opportunity. Investors have been pouring big bucks into this market for the last couple of years. As we noted, in this morning’s article, “UIPath, a NYC RPA company has raised almost $450 million. Its most recent round in September was for $225 million on a $3 billion valuation. Automation Anywhere, a San Jose RPA startup, has raised $550 million including an enormous $300 million investment from SoftBank in November on a valuation of $2.6 billion.”
Average weekly outlay up £18 to £572.60 with extra spending paid for by borrowing or savings
Spending by UK households has surged to a 13-year high as increases in transport and housing costs and higher food bills took their toll, according to the latest official snapshot of family spending.
Average total spending rose to £572.60 a week in the year ending March 2018, which is the highest since 2005 once inflation is taken into account, said the Office for National Statistics.
My morning train reads: • Will Index Funds Really Take Over the World? Despite passive investing’s relentless progress, a few important impediments stand in the way. (CIO) • Bill Miller in the Wilderness — and Loving It (Institutional Investor) • Short-term Luck Versus Long-term Skill (Jim O’Shaughnessy) see also The Biggest Returns (Collaborative Fund) • Why everyone else seems to have…
Humio, a startup that provides a real-time log analysis platform for on-premises and cloud infrastructures, today announced that it has raised a $9 million Series A round led by Accel. It previously raised its seed round from WestHill and Trifork.
The company, which has offices in San Francisco, the U.K. and Denmark, tells me that it saw a 13x increase in its annual revenue in 2018. Current customers include Bloomberg, Microsoft and Netlify .
“We are experiencing a fundamental shift in how companies build, manage and run their systems,” said Humio CEO Geeta Schmidt. “This shift is driven by the urgency to adopt cloud-based and microservice-driven application architectures for faster development cycles, and dealing with sophisticated security threats. These customer requirements demand a next-generation logging solution that can provide live system observability and efficiently store the massive amounts of log data they are generating.”
To offer them this solution, Humio raised this round with an eye toward fulfilling the demand for its service, expanding its research and development teams and moving into more markets across the globe.
As Schmidt also noted, many organizations are rather frustrated by the log management and analytics solutions they currently have in place. “Common frustrations we hear are that legacy tools are too slow — on ingestion, searches and visualizations — with complex and costly licensing models,” she said. “Ops teams want to focus on operations — not building, running and maintaining their log management platform.”
To build this next-generation analysis tool, Humio built its own time series database engine to ingest the data, with open-source tools like Scala, Elm and Kafka in the backend. As data enters the pipeline, it’s pushed through live searches and then stored for later queries. As Humio VP of Engineering Christian Hvitved tells me, though, running ad-hoc queries is the exception, and most users only do so when they encounter bugs or a DDoS attack.
The query language used for the live filters is also pretty straightforward. That was a conscious decision, Hvitved said. “If it’s too hard, then users don’t ask the question,” he said. “We’re inspired by the Unix philosophy of using pipes, so in Humio, larger searches are built by combining smaller searches with pipes. This is very familiar to developers and operations people since it is how they are used to using their terminal.”
Humio charges its customers based on how much data they want to ingest and for how long they want to store it. Pricing starts at $200 per month for 30 days of data retention and 2 GB of ingested data.
Chancellor says ‘offer is on the table’ to avoid no-deal scenario
As world leaders gather in Davos, 5 Live gets the views of people in the Lancashire town of Darwen.