Good morning readers! Here are Chroma’s top picks from today’s tech and business news. Enjoy the read and follow us for more on our LinkedIn page.
UK Space Agency funds tech for orbital awareness. “UKSA is giving over £1m to seven firms to help advance novel sensor technologies and the smart algorithms needed to interpret their data.”
British Airways is fighting for its survival and burning through $26 million a day, CEO Alex Cruz said. “We remain worried about the virus in the winter season. People are still afraid of travelling. We are having weekly changes to the quarantine list. All the data that we get are still pointing at a slow recovery process,” Cruz said.
E-scooter trial put on hold in Coventry five days after rollout. “Some residents also complained about them being discarded across the city and people going the wrong way. The authority made the decision to put the trial on hold while it reviews how e-scooters can be used ‘appropriately’.”
The UK economy grew 6.6% in July as lockdowns eased, but has recovered only about half of lost output. “Education grew strongly as some children returned to school, while pubs, campsites and hairdressers all saw notable improvements,” Darren Morgan, director of economic statistics at the ONS, said.
The Bank of England warns of an ‘unusually uncertain’ outlook, and policymakers are keeping negative interest rates on the table. “Despite a recent rise in business activity, bank officials expect economic output to be 7% lower in the third-quarter than at the end of last year.”