China’s Baidu confirms Uber investment plan December 17, 2014 CHINESE internet giant Baidu confirmed yesterday it is buying a stake in fast-growing international car-hailing service Uber as the pair chase growth in one of the world’s largest transportation markets. The companies did not disclose how big a stake Baidu is taking, nor how much it is paying for the investment, announced jointly in Beijing. [...]
Snapchat picks up Credit Suisse banker who led Alibaba’s float December 9, 2014 SNAPCHAT made its money-making intentions clear yesterday with the appointment of a major investment banker from Credit Suisse. Evan Spiegel, the 24-year-old founder of the hugely popular messaging app, has brought in heavy-hitter Imran Khan, formerly the head of investment at Credit Suisse who led the bank’s team on Alibaba’s $25bn (£15.9bn) float this year. [...]
Snapchat hires Credit Suisse banker Imran Khan to lead strategy after billion dollar valuation December 9, 2014 Snapchat has made its money-making intentions clear with the hire of a major investment banker from Credit Suisse. Evan Spiegel, the 24-year-old founder of the hugely popular messaging app, has brought in heavy hitter Imran Khan, formerly the head of investment at Credit Suisse who led the bank’s work on the Alibaba IPO earlier this [...]
Who is the richest man in China? Alibaba founder Jack Ma tops Forbes list October 28, 2014 Alibaba founder and chief executive Jack Ma has been named the richest man in China, after his etail giant raised $21.8bn through its record-breaking IPO last month. Ma had already been named the richest man in the People's Republic by the Hurun Report, but the 50-year old former teacher has made it to the [...]
Mail.ru share price up as Arsenal shareholder Alisher Usmanov takes full stake in “Russian Facebook” VKontakte for $1.47 billion September 16, 2014 Moscow-based internet company Mail.ru has bought a remaining 48 per cent stake in the social network VKontakte, Russia's answer to Facebook, for $1.47bn (£909m) taking full ownership of the business. Mail.ru said in addition to the sale, all legal action among itself, United Capital Partners which sold the stake and VK founder Pavel Durov had [...]
Next generation finance: How London can cement its leadership in fintech August 19, 2014 The launch of Innovate Finance, a new body dedicated to supporting fintech (or financial technology) in the UK, at Canary Wharf this month highlighted London’s ability to become the global centre of the sector. They say there is no “fin” in San Francisco and no “tech” in New York – but there is certainly both [...]
Who is the richest person in China? Alibaba’s Jack Ma tops new list September 23, 2014 Alibaba founder Jack Ma is now the richest man in China – but he still falls outside the list of the world's 10 richest people. A report published today puts the 50-year old founder of Alibaba Group Holding in pole position among China's wealthiest for the first time, after the ecommerce giant's record breaking [...]
What the other papers say this morning – 05 November 2013 November 4, 2013 FINNACIAL TIMES Food prices face sting from bee decline The demise of the humble honey bee has long been bemoaned by naturalists. Now it is alarming traders as it threatens to send prices of nutty snacks and sweets sharply higher, as California’s almond orchards are hit by a decline in bee colonies. Morsi defiant as [...]
BP turns to Australia for cash with £327m Kangaroo issue August 29, 2012 BRITISH oil behemoth BP yesterday announced plans to sell Australian dollar bonds in a rare kangaroo issue. Kangaroo bonds are Australian dollar bonds sold by international issuers. The bond marks the first time that BP has tapped the Australian market for funding. The five-year issue was priced at A$500m (£327m) yesterday, with a coupon of [...]
Investors rush to buy Facebook shares January 6, 2011 GOLDMAN Sachs stopped taking orders for shares in Facebook yesterday, with analysts saying the firm was inundated with offers from investors wanting a piece of the action. Some said that would-be investors were prepared to subscribe for $3bn (£1.9m) of equity in the social networking site, twice as much as is likely to be required. [...]