City hedge fund giant Crispin Odey backs emerging fintech startup Jumo December 13, 2018 City veteran and hedge fund titan Crispin Odey has backed UK-based fintech startup Jumo with a $12.5m (£9.9m) funding injection through his firm Odey Asset Management. The investment today marks the final close of Jumo’s most recent funding round, which raised $52m from Goldman Sachs as its lead investor. Other participants included the French Development [...]
Pinterest files for $12.7bn IPO: What it needs to do next April 18, 2019 Image curation site Pinterest will list in the US when the New York Stock Exchange opens later today at $19 per share. The unicorn’s share price, which had more than 250m active users and 2bn searches last year, is above the target range and a valuation that the website received in 2017. Read more: Get [...]
Facebook confirms launch of own cryptocurrency June 19, 2019 By Gary McFarlane from interactive investor. The social media giant announces its own cryptocurrency, called ‘Libra’ that aims to be ‘global money’. Facebook (NASDAQ:FB) has announced Libra coin, a cryptocurrency that aims to be global money and is set to launch in early 2020. A new app is joining the Facebook family called Calibra (https://calibra.com/), which will act as [...]
Just Eat faces pressure as Cat Rock says investors back calls for merger February 20, 2019 Activist investor Cat Rock Capital said today that it has the backing of fellow shareholders after calling for Just Eat to merge, in a fresh headache for the takeaway ordering website. US-based Cat Rock, which owns a 1.7 per cent stake in Just Eat, said that it had the support of investors after hitting out [...]
Huawei chief financial officer Meng Wanzhou can be extradited, Canada says March 2, 2019 Canada will allow Huawei chief financial officer Meng Wanzhou to be extradited to the US but the court must make a final decision. Meng was arrested in December by Canadian officials at the request of the US. She is wanted to stand trial on charges that include fraud after allegations she violated sanctions on Iran. Read more: New [...]
Lyft valued at $24bn as it prices shares at $72 ahead of New York float March 28, 2019 Ride-hailing app Lyft has priced its initial public offering (IPO) at $72 per share ahead of its float on the Nasdaq tomorrow, giving it a valuation of more than $24bn (£18.4bn). The pricing is at the top end of the firm’s target range, which Lyft increased earlier this week in a sign of strong investor [...]
Uber is responding to the Taylor review on the gig economy by launching its own advisory panel for drivers February 9, 2018 Uber has just unveiled its sop to the government after it (finally) responded to the Taylor review on the gig economy: easier ways for drivers to provide feedback. The ride hailing app said a new feedback programme, dubbed UberEngage, will give drivers “a voice in Uber”, allowing them to provide feedback on new products and [...]
Morgan Stanley shares climb as results beat expectations despite ‘slow’ start to the year April 17, 2019 Morgan Stanley shares have climbed after the US bank posted better-than-expected results in its fixed income trading and wealth management divisions. The bank reported $2.43bn profit in the first quarter of the year, beating expectations despite falling from $2.67bn the previous year. Read more: Morgan Stanley trading revenue hit by sharper fall than peers Fixed [...]
Starbucks delivery expands across central London while company continues green push March 20, 2019 Coffee drinkers across central London will be able to get their daily caffeine fix delivered straight to the office as Starbucks expands its delivery trials and starts tests of new greener cups in the capital, the company announced today. The coffee chain trialled Starbucks Delivers, its collaboration with Uber Eats, in parts of London last [...]
Brits want a human driver ready to take control in their driverless cars March 20, 2019 The majority of Brits are still sceptical about driverless cars ever being allowed to become truly “autonomous”, according to research. Just one-in-seven people think autonomous vehicles (AVs) should be able to travel without a human occupant ready to take the wheel, according to an Opinium survey. Read more: GM takes stake in British startup as [...]