Luxury retail app Farfetch is heading to Wall Street for a multi-billion dollar listing August 20, 2018 E-commerce marketplace Farfetch, which is based in the UK and specialises in luxury brands and high-end fashion, today filed an intention to list on the New York Stock Exchange. No details were given on the amount it expects to raise or the offer price per share, however analytics firm Pitchbook valued the listing to take [...]
City A.M. shadow MPC unanimously votes to hold rates amid ‘Brexit fog’ October 31, 2018 Economists have urged the Bank of England to keep interest rates on hold at least until the “Brexit fog” has cleared. The bank's monetary policy committee (MPC) will meet on Thursday and is expected to leave rates unchanged at 0.75 per cent despite stronger-than-expected GDP growth and pay growth at its highest in almost a [...]
Bitcoin takes fresh dive in two-day cryptocurrency crash September 6, 2018 The value of bitcoin has continued to slide today after a crash sparked by yesterday's rumours that Goldman Sachs has scrapped plans for a cryptocurrency trading desk. Bitcoin value slumped 15 per cent over two days to $6,405 (£4,950) after the investment bank reportedly cancelled plans to open the new desk. Read more: Goldman Sachs reportedly ditches [...]
Saudi Arabia pulls the plug on Aramco float August 22, 2018 Saudi Arabia has ditched plans to list state oil magnate Aramco on both international and domestic stock exchanges, according to reports. Previously labelled as the biggest deal of its kind in history, senior industry figures told Reuters that the decision to call off the initial public offering (IPO) was made “some time ago”, and that [...]
The year crypto went crazy: what’s next for bitcoin in 2019? December 19, 2018 This was the year the world woke up to cryptocurrencies. When the Bitcoin price bubble burst in December last year, having hit almost $20,000 (£15,886) per coin in value, governments, banks and tech giants alike began to sit up and take notice. The City was faced with a decision: is Bitcoin a vehicle for fraud [...]
Bank of England: Hold fire until there is Brexit certainty says the shadow MPC September 13, 2018 City economists are all but certain that the Bank of England will hold interest rates steady today, only six weeks after raising interest rates and with the Brexit endgame fast approaching. The Bank’s rate-setting monetary policy committee (MPC) will announce its latest decision at midday, with all eyes on any tweaks to guidance around the [...]
Bank of England: Hold fire until there is Brexit certainty says the shadow MPC September 13, 2018 City economists are all but certain that the Bank of England will hold interest rates steady today, only six weeks after raising interest rates and with the Brexit endgame fast approaching. The Bank’s rate-setting monetary policy committee (MPC) will announce its latest decision at midday, with all eyes on any tweaks to guidance around the [...]
CEOs should get out of the board room spend time on the shop floor October 2, 2018 In a recent study, nearly 80 per cent of consumers stated that the average brand doesn’t understand them. This hints at a worrying disconnect in business, particularly at a time when changing attitudes among consumers and workforces mean leaders should be connected to what is going on outside of their office door. The day-to-day demands [...]
The creator of the Lion King just raised $1bn for a new Netflix | City A.M. August 7, 2018 The former Disney chairman who produced films such as The Lion King, The Little Mermaid and Aladdin has scored a total of $1bn (£772m) for his Netflix and Youtube competitor startup, in a seed funding round closed today. Led by Jeffrey Katzenberg alongside former Hewlett Packard and Ebay chief executive Meg Whitman, the startup temporarily [...]
HIKE: The shadow MPC says it is time for the Bank of England to raise interest rates | City A.M. August 1, 2018 The Bank of England is widely expected to hike interest rates tomorrow after delaying a move in May in light of a modest growth rebound and a tight labour market. City A.M.’s shadow monetary policy committee (MPC) believes the time is right on balance, although with a split between economists which is likely to be [...]