Michael Bloomberg says London will keep rising as a global capital at opening of new European HQ in the City October 24, 2017 Bloomberg founder and chief executive Michael Bloomberg said today that London would continue its rise as a global capital, regardless of how the UK’s relationship with the EU changes. The billionaire businessman and former New York mayor was speaking as he opened Bloomberg’s new European headquarters in the Square Mile. Read more: Twitter and Bloomberg [...]
Graze backer Draper Esprit boosts its portfolio value by 44 per cent October 24, 2017 Listed venture capital firm Draper Esprit, which has backed businesses such as snack producer Graze and fashion marketplace Lyst, announced in interim results this morning that its portfolio value had rocketed. The numbers Draper Esprit’s gross primary portfolio value – or the value of all its investment holdings, before deductions – was up 44 per [...]
The Equifax hack is being investigated by the Financial Conduct Authority October 24, 2017 The City watchdog has launched an official investigation into the massive hack of Equifax which exposed millions of people’s personal data. “The [Financial Conduct Authority] FCA announces today that it is investigating the circumstances surrounding a cybersecurity incident that led to the loss of UK customer data held by Equifax Ltd on the servers of [...]
Why we need to focus on fund research to fix capitalism’s ills October 24, 2017 | City Talk “We have met the enemy and he is us.” — Walt Kelly We blame capitalism for most of our modern ills, from climate change to phones that die every two years. Yet we rarely bother to read the sales pitch our accountant, banker, or adviser gives us for the funds to invest our hard-earned money [...]
Read: UK MPs letter demands info on Russia election and Brexit meddling from Facebook’s Mark Zuckerberg October 24, 2017 MPs have demanded answers from Facebook chief executive Mark Zuckerberg on the extent of Russian-linked adverts on the social media site during UK elections and the Brexit vote and their influence. The chair of the digital, culture, media and sport committee Damian Collins has asked the billionaire tech entrepreneur to provide examples of adverts purchased [...]
This property investment trust’s shares are up 28 per cent as it prepares to upgrade to a premium London listing October 24, 2017 Aim-listed K&C Real Estate Investment Trust (REIT) saw its shares shoot up by 28 per cent this morning, as it announced it would raise a new £150m and prepare for a listing on the premium section of the London Stock Exchange. The REIT, which invests in UK residential property, will raise the money by issuing [...]
If bitcoin isn’t a bubble, it’s a spookily good impression October 24, 2017 | City Talk “Proper excited about Mobile Cryptocurrency! I’m in, get involved!” So tweeted Harry Redknapp last week about a ‘mobile cryptocurrency’ called electroneum. On reading it, we could not help but think of the song famously associated with one of the serial football manager’s former clubs, West Ham United. All together now: “I’m forever blowing bubbles …” [...]
Monzo now supports Android Pay, but not Apple Pay just yet October 24, 2017 Monzo has added support for Android Pay, the latest new feature to be added by the digital challenger bank as it rolls out full current accounts. It's also the first digital wallet the fintech has added support for. “Our goal at Monzo is to make everyone's financial lives easier. That can mean helping you at [...]
A Facebook news feed experiment splitting it in two is freaking out media publishers October 24, 2017 Facebook has been forced to issue an assurance to media publishers that a potentially damaging change to news feeds being tested in a handful of countries will not be rolled out globally. The controversial change splits a users news feed in two, separating posts made by family and friends from that of content from publishers [...]
Suits you: Supermarket fashion is turning heads in the UK October 24, 2017 Cheap? Check. Convenience? Check. Choice? Check. Sainsbury’s launched a rival to Savile Row in outlets this week, giving shoppers a chance to buy suits with their weekly shop. The move is a classic example of how wafer-thin margins and the dog fight for market share is forcing supermarkets to turn towards different revenue streams – [...]