It’s a €2bn bill. It gets presented with a month to go. That is not an acceptable way to behave and it’s not an acceptable sum of money.I am not paying that bill on December 1. If people think I am, they have got another think coming.
It was amazing. It was beautiful. You could see the darkness of space and you could see the layers of atmosphere which I had never seen before.It was a wild, wild ride. I hugged on to the equipment module and tucked my legs and I held my heading.
The board would like to thank Mr Nash for his significant contribution to the company during what has been a particularly challenging period.
Shares in travel website eDreams Odigeo have been suspended from trading by a Spanish regulator after they plummeted 59.1 per cent in a single day.
The company, which is based in Barcelona, listed just six months ago at €10.25, but plummeted to €1.023 today before the regulator called a halt to trading.
The fall came after Iberia Airlines, part of International Airlines Group, which also owns British Airways, said it would stop selling its tickets through the site. The airline alleged that eDreams had breached European law by "not fulfilling its obligations to transparently report total ticket prices to clients from the start of the booking process", according to Bloomberg.
The website has become something of a nightmare for investors almost since its listing in April: shares fell rapidly after it IPOd in April. In June, it said that because of changes to the way Google's algorithm worked, its 2015 earnings before interest, tax, depreciation and amortisation would be "difficult to discern".
eDreams was advised on its IPO by JPMorgan and Deutsche Bank, as well as London-based investment bank STJ advisors, which also advised Card Factory and Saga on their recent listing.
Yesterday, the Hailo taxi app had its day in the sun unveiling two new features; Pay Hailo and Hailo Hub.
However, the shadow of the company's withdrawal from the US after failing to successfully take on rivals such as Uber and Lyft still looms large. Things looked good for Hailo when it began its US venture three years ago, with an investment from Union Square Ventures of $30m and plenty of buzz after its success in the UK.
As rival taxi app Uber continues to expand across the globe, why was this British startup forced to back out of the US?
There may be several answers to Hailo's US plight. The first being that local knowledge is crucial in taxi markets and Hailo found it near impossible to replicate the success it had in London to New York.
New York's yellow cab drivers operate in a different environment to their black cab cousins in London. Fotune's Erin Griffith observes that New York's grid system is easier to learn than London's evolved cowpaths. With streets full of willing customers, few yellow cab drivers felt the need for Hailo's services.
Furthermore, while London cabbies equipped with smartphones are par for the course, this is less so in New York. Added to Hailo's woes was an increasingly competitive taxi market, with Uber being the dominant player. As a challenger brand, Hailo had to bring something to the table in terms of either price or service to make good in New York.
This failed to materialise, and Uber upped the ante with the introduction of its cheaper UberX service. Uber is able to offer cheaper prices because of strong volumes, which Hailo lacked.
To scroll past the map on a mobile, swipe down the right-hand side
Hailo operates in 20 cities, whereas Uber has a presence in 200. Hailo’s revenue in 2013 failed to breach $100m (£62m), and when it came to marketing, Hailo was way out its compared with its San Francisco counterpart. Ross Sleight, chief strategy officer at app developer Somo, writes:
We feel Uber won hands down. With Uber’s deep pockets and aggressive above the line campaign – all-over cab wraps, subway ads and highly tempting promotion codes – it swiftly owned the market with both customers and suppliers. The higher customer demand generated by marketing created more usage and more driver recruitment in a hyper growth virtuous circle.
These may be sound reasons why Hailo failed to break into the US market, but it would still be fair to say even in the UK, Hailo has not mirrored Uber's success in the US. The reason may be that Uber and Hailo are playing very different roles in the fight for the future of urban transportation.
Uber Co-Founder and CEO Travis Kalanick said last year:
In the beginning, it was a lifestyle company. You push a button, and a black car comes up. Who’s the baller? It was a baller move to get a black car to arrive in 8 minutes.
Uber was offering cashless payments long before Hailo Pay, and it challenged taxi monopolies, rather than accommodating them with new technology. A focused strategy in Uber's early years based around targeting cities with a booming nightlife and intense weather had the effect of popularising Uber by word of mouth, even before any well-funded marketing campaigns.
The key difference between Uber and Hailo is that Uber looks to solve the problems of urban living, whereas Hailo, at the moment, appears to do little more than ameliorate them.