Tag: United Kingdom

EnergySoftwareTechnology

Octopus Energy’s Kraken Platform Emerges as UK’s Tech Unicorn Amid Global Expansion

Kraken Technologies, the software platform behind Octopus Energy, is reportedly overtaking its parent company’s retail energy business in value. The platform, which serves over 70 million households globally, is preparing for a potential public listing as it expands its international footprint.

The Rise of Kraken Technologies

Kraken Technologies, the software platform developed by UK energy supplier Octopus Energy, is reportedly becoming more valuable than the retail energy business that created it, according to recent analysis. The platform, which manages everything from billing to electric vehicle charging for utility companies worldwide, has grown into one of Britain’s most valuable technology startups of the past decade.

by Carter Wells
GovernmentTechnology

UK Government Considers Reversing Offshore Ban on £8 Million Digital Procurement Contract

The UK government is reportedly reconsidering its ban on offshoring work for an £8 million procurement system contract. According to official notices, the Cabinet Office may permit supplier Goaco Group Ltd to subcontract advisory support abroad despite previous security restrictions requiring all work remain within the UK.

Potential Policy Reversal on Offshore Restrictions

The UK Cabinet Office has signaled it might allow a supplier to subcontract work offshore for an £8 million digital procurement platform contract, according to reports, despite previously prohibiting such arrangements due to security concerns. The potential policy shift involves maintenance of the Central Digital Platform (CDP), an online system where all UK contracting authorities publish procurement information.

by Carter Wells
AcquisitionsBusiness

Supreme Expands Wellness Portfolio with £20.1 Million SlimFast Acquisition in UK and Europe

British consumer goods firm Supreme has purchased SlimFast’s UK and European business in a £20.1 million deal. The acquisition comes as the meal replacement brand faces increasing pressure from pharmaceutical weight loss solutions. Supreme plans to integrate SlimFast into its expanding drinks and wellness division.

Major Acquisition in Weight Management Sector

British consumer goods company Supreme has reportedly acquired SlimFast’s UK and European operations in a £20.1 million deal, according to recent reports. The Manchester-based firm, which rescued Typhoo tea from administration last year, continues to diversify its portfolio with this strategic move into the weight management market. Sources indicate this acquisition positions Supreme to compete in a sector projected to reach £1.5 billion by 2027 despite growing competition from pharmaceutical weight loss solutions.

by Darren Holt
PolicyTechnology

UK Faces Tech Talent Exodus as Immigration Rules Tighten

Hundreds of tech entrepreneurs and AI specialists who relocated to the UK following Russia’s invasion of Ukraine are now reconsidering their futures. Proposed immigration changes could extend the settlement waiting period from five to ten years, creating widespread uncertainty among the very talent the government seeks to attract.

Immigration Policy Shift Threatens UK’s Tech Ambitions

According to reports, the United Kingdom’s technology sector faces potential brain drain as hundreds of Russian, Ukrainian, and Belarusian tech professionals reconsider their settlement plans following proposed immigration reforms. Sources indicate that many of these workers originally chose the UK specifically for its relatively swift citizenship pathway, which currently allows qualified migrants to apply for indefinite leave to remain (ILR) after three to five years.

by Carter Wells
BusinessFinance

UK Pension Funds Commit £3 Billion to Boost Housing and Private Equity Investments

Legal & General, AustralianSuper, and Nest have collectively pledged £3 billion toward UK private markets, focusing on residential housing and growing companies. The commitments come ahead of regional investment summits aimed at strengthening ties between institutional investors and policymakers. This significant capital injection reportedly aims to address housing shortages while generating financial returns.

Major Pension Funds Announce UK Investment Push

Three leading pension providers have reportedly committed approximately £3 billion to UK private markets, targeting rental housing, infrastructure, and fast-growing companies according to recent announcements. The investment wave comes ahead of government-backed meetings in London and Birmingham designed to strengthen relationships between institutional investors and policymakers.

by Carter Wells
GovernmentPolicy

UK Government Proposes Withdrawal from European Human Rights Convention

The UK political landscape faces a significant constitutional debate as opposition Conservatives propose withdrawing from the European Convention on Human Rights. This move, which follows similar calls from Reform UK, would mark a major shift in Britain’s international legal commitments.

Major Policy Shift on Human Rights Framework

The Conservative opposition has announced plans for the United Kingdom to withdraw from the European Convention on Human Rights, according to reports from political sources. This significant policy position, revealed by senior Conservative figure Kemi Badenoch, would represent one of the most substantial changes to Britain’s international legal framework in decades.

by Darren Holt