Sabre insurance reveals plans for £213m float with boss saying: “It’s not all young drivers in hot hatches” November 13, 2017 Quirky British car insurer Sabre today announced plans to raise £213m from a London stock market listing. The move will enable private equity firm BC Partners to realise part of its investment into the Dorking-based firm. BC, which paid £240m in 2013 for the firm, will retain a “significant stake” in Sabre post-float. Sabre specialises [...]
Brexit: Theresa May’s government to face Tory rebellion over EU Withdrawal Bill amendment November 13, 2017 The government is facing a Tory rebellion over its last-minute amendment to the EU Withdrawal Bill, which will put an exact time and date on Brexit. Update: David Davis has now confirmed details of a separate bill. Read more here. The amendment – which would enshrine the moment of departure as 11pm on 29 March [...]
Barclays is working with startup Flux to make your receipts digital and paperless November 13, 2017 Barclays is the latest major bank to turn to a startup as we approach the era of Open Banking, when high street banks will have to work even harder to keep up with newer and more digital rivals. The bank is working with Flux, a UK fintech, for making receipts digital, initially in a trial [...]
Qualcomm rejects Broadcom’s blockbuster $130bn takeover bid November 13, 2017 Qualcomm has officially rejected a blockbuster takeover bid by Broadcom worth $130bn. The deal – potentially the largest ever in tech and made a week ago – was unanimously rejected by Qualcomm’s board because the offer “dramatically undervalues Qualcomm” and also faces “significant regulatory uncertainty”. Read more: The biggest ever tech deal is go: Broadcom [...]
Lyft’s expanding to Toronto, its first market outside the US, hitting accelerator on international expansion plans November 13, 2017 Ride-hailing startup Lyft has unveiled its intensions for expanding outside the US for the first time just weeks after landing a sizeable $1bn led by tech giant and Google owner Alphabet. The Uber rival will head north of the border to Canada, specifically the city of Toronto, which also happens to be the location for [...]
Businesses issue Theresa May with Brexit ultimatum, warning they’re “extremely concerned” about progress so far November 13, 2017 Business groups have told Theresa May progress must be made in Brexit talks ahead of the critical European Council meeting next month, saying they are “extremely concerned” about what’s been achieved so far. The Prime Minister met with groups including the Confederation of British Industry (CBI) and the Institute of Directors (IoD), as well as [...]
Bitcoin price (BTC) back above $6,000 after plunging on volatile Sunday November 13, 2017 Bitcoin is recovering somewhat after two major plunges below $6,000 on Sunday. The cryptocurrency has been highly volatile (more than usual) in recent days after a split to increase capacity was called off amid a lack of consensus last week, It plunged to around the $5,600 mark early on Sunday morning and then again on [...]
The latest warning on initial coin offerings (ICOs) comes from the European Securities and Markets Authority November 13, 2017 Regulators in Europe are the latest to signal the alarm on initial coin offerings (ICOs) following a string of warnings from around the globe. The European Securities and Markets Authority (ESMA) has issued a warning to investors over the risks while also issuing guidance to firms over what rules they must follow if they are [...]
Bill Gates pledges $50m for London-based Dementia Discovery Fund to search for cure November 13, 2017 The world’s richest man, Bill Gates, has promised $50m (£38.2m) to a London-based fund that’s exploring new ways to tackle dementia. The Dementia Discovery Fund (DDF), first launched in 2015 and run by venture capital firm SV Health, is focused on discovering and developing new therapies that are not in the mainstream for fighting the [...]
Pound sterling tumbles against dollar and euro (GBPUSD GBPEUR) following no-confidence letter to Theresa May November 13, 2017 The pound tumbled against both the dollar and the euro in the early hours of today after a catalogue of woes hit the Prime Minister over the weekend. Sterling was 0.9 per cent lower against the dollar in early trading in London, at $1.3083, and 0.6 per cent lower against the euro, at €1.1239. Yesterday [...]