Oxford biotech startup Nightstar Therapeutics plans US float September 3, 2017 Nightstar Therapeutics, a biotech startup that was created out of Oxford University, has proposed an initial public offering (IPO) on the Nasdaq stock exchange. The UK biotech firm develops gene therapies for rare eye diseases, and last week it said it aimed to raise up to $86m (£66m) in its US float. The new funds [...]
Proptech startup Habito lands £18.5m to make mortgages digital in series B led by Atomico September 3, 2017 A fintech startup focused on making mortgage applications easier has bagged millions more in funding from top investors. Atomico, the venture fund set up by Skype founder Niklas Zennstrom, led the £18.5m series B round with existing investors Ribbit Capital, Mosaic Ventures and Revolutionary (ad)Ventures also participating. It brings total funding for the startup – [...]
Cineworld-owned Picturehouse Cinemas narrows losses while staff approve fresh strike action September 3, 2017 Arty cinema chain Picturehouse chain reduced its losses in 2016, but faces further strike action in a dispute between staff and owner Cineworld. For the year ending 31 December 2016, Picturehouse Cinemas Ltd recorded boosted revenues of £28.7m, up from £17.8m the year before. But the cost of sales more than doubled from £6.5m to [...]
Former Tesco (TSCO) executives set to appear in UK court on fraud charges September 3, 2017 Three former Tesco executives will appear in court tomorrow, charged with fraud relating to the supermarket’s 2014 accounting scandal. The three men were charged by the Serious Fraud Office (SFO) last September, and pleaded not guilty to the charges at a hearing at the beginning of August. Read more: Co-op’s the latest supermarket to drop [...]
Sports Direct’s (SPD) shareholders gear up for revolt over Mike Ashley’s share buyback plans September 3, 2017 Sports Direct could face a shareholder revolt over its share buyback plan this week, as investors prepare to oppose the resolution at the retailer’s annual general meeting (AGM). Aberdeen Standard Investments will oppose more share buybacks on the basis that they hand too much power to Mike Ashley, chief executive and majority shareholder at Sports [...]
Where to find the biggest investment returns according to Coutts: Classic cars are better than luxury properties | City A.M. September 3, 2017 Splashing some cash on a classic car isn’t just good for your image, it’s actually the best asset in which to invest in terms of returns when it comes to desirable items. That’s according to banker to the Queen, Coutts, which has compiled an annual list of the best performing assets, taking into account such [...]
London house prices: More than a third of London properties have had their prices cut September 1, 2017 There was more evidence London house price growth is slowing down this morning, after new figures showed more than a third of properties on sale in the capital have had their prices cut. Some 37 per cent of London homes have been discounted since they went on sale, up from 32 per cent in March. [...]
Exorbitant interest rates have turned student loans into a ticking debt bomb September 1, 2017 Today the interest rate on student loans rises from 4.6 to 6.1 per cent. By comparison, the Bank of England held the base rate at 0.25 per cent last month. The highest level of interest you can get on a standard easy-access cash Isa is 1.03 per cent. You can take out a 10-year fixed [...]
DEBATE: With escalating tensions between the US and North Korea, is there a real risk of nuclear action? September 1, 2017 DEBATE: With escalating tensions between the US and North Korea, is there a real risk of nuclear action? YES – Sarah Kendzior, journalist and scholar of authoritarian states. Unfortunately, there is a real risk – and Donald Trump is more likely to use nuclear weapons than Kim Jong-un. Trump has been obsessed with nuclear weapons [...]
Frosty exchange between Michel Barnier and David Davis over Brexit divorce bill triggers alarm in City of London August 31, 2017 Deadlock over the size of the UK’s so-called Brexit bill has triggered fresh alarm in the City as fears grow that crucial talks on a new UK-EU trade and transition agreement will be shunted into next year. Bosses are warning that financial services firms will need to begin moving jobs and operations if they do [...]