Covid recovery sluggish as UK GDP climbs just 0.1 per cent in July : CityAM September 10, 2021 The UK economy grew just 0.1 per cent in July as the post-Covid recovery continued to slow. New official figures released this morning showed a significant fall from June’s 1 per cent growth. The economy remains 2.1 per cent below its pre-pandemic peak in February 2020. Read more: Government borrowing smashes expectations but debt-to-GDP highest [...]
Bitcoin licks its wounds while Solana leads the altcoin charge September 9, 2021 Altcoins step up a gear as the market turns green again and Bitcoin settles its nerves.
Costa Coffee lifts wages by 5 per cent amid staff shortages – CityAM : CityAM September 9, 2021 Costa Coffee has boosted pay by 5 per cent and announced 2000 job vacancies as staff shortages hit the hospitality sector. From October 01, the company’s 14,500-strong staff will be given a pay uplift as the company prepares for a busy festive season. Fully trained baristas will see their pay go up by 64p per [...]
Facebook’s $400m acquisition of Giphy could be blocked based on fruitless antitrust claims – CityAM : CityAM September 9, 2021 The Competition and Markets Authority have threatened to dissolve Facebook’s £289m acquisition of Giphy based on fruitless allegations the merger would be anti-competitive. The only catch is: Facebook and Giphy are not competitors. Breaking up this deal on antitrust grounds will have international consequences. Regulators across the world are becoming increasingly hostile towards Facebook, as [...]
Alibaba-backed LinkDoc mulls private $200m fundraiser after frozen US IPO – CityAM : CityAM September 9, 2021 Chinese medical data firm LinkDoc Technology is reportedly looking to raise between $200m and $300m from a private fundraiser, weeks after it froze plans for a US float. LinkDoc, which is backed by Alibaba Health Information Technology, is also mulling a fresh initial public offering (IPO) in Hong Kong instead of across the pond, Bloomberg [...]
Insurtech Marshmallow reaches $1.25bn valuation and becomes UK’s second black-founded unicorn September 8, 2021 Digital car insurance provider Marshmallow has smashed the $1bn threshold after its latest Series B funding round, making it the second UK unicorn with founders of Black heritage. Marshmallow’s latest cash injection of $85m values the insurtech at over $1.25bn (£907m), joining the ranks of other recent UK unicorns Starling Bank, Gousto, Zepz and Zego. [...]
London calling: Landlords raring to return to 2019 rents as tenants battle for places September 8, 2021 Londoners looking for a new place to rent are struggling against a competitive market as the number of available properties has dropped by 58 per cent. While there are less properties available on the market for renters compared to August 2020, there has been a 55 per cent boost in the number of tenants searching, [...]
Did the IMF ruin El Salvador’s Bitcoin party? The president seems to think so September 8, 2021 Bitcoin suddenly found itself below $47,000 after a dramatic dip which El Salvador's president appears to blame the IMF for.
Britney Spears’ father files to end controversial conservatorship after 13 years September 8, 2021 Britney Spears’ father has filed papers in a Los Angeles court to unexpectedly terminate the conservatorship that has controlled the singer’s life for 13 years. The singer, who is 39, has unsuccessfully sought to remove him from the role twice in the last two years. But now Jamie Spears wrote that his daughter “is entitled [...]
Credit Suisse names new compliance chief after Greensill and Archegos scandals September 8, 2021 Credit Suisse has named Rafael Lopez Lorenzo as its new chief compliance officer less than six months after several senior executives left the bank, which is still recovering from the twin scandals of Archegos Capital Management and Greensill Capital. From 1 October Lorenzo, who is currently the head of group internal audit, will take over from [...]