Tesla’s share price (TSLA) loses headwind as analysts cast doubt on Musk’s plans to take it private | City A.M. August 8, 2018 Tesla’s share price was down more than two per cent as markets opened in the US this afternoon, after analysts on Wall Street balked at its chief executive Elon Musk’s claims he could take the firm private. Trading was temporarily suspended yesterday following a string of tweets from Musk in which he said he was [...]
Centre for London: Capital maintains buoyant economy despite Brexit – but housing crisis and quality of life are causing a brain drain | City A.M. August 8, 2018 London’s economy has remained buoyant, with first quarter job numbers reaching an all-time high, a major new report has found. Job numbers in the capital reached 5.9m at the end of June, up 1.9 per cent on last year and the highest since records began. It compares favourably to the rest of the UK, where [...]
The BMW X2 – the sportier new version of the perennial X1 – is a fine addition to the German marque’s roster | City A.M. August 8, 2018 BMW loves to overwhelm with numbers. First we had the X5 SUV, followed by the X3. Then came the X6, X4 and X1. Later this year we’ll see a Range Rover-sized X7 (lord knows how big an X8 or X9 would be), but ahead of that, a more obvious gap has been plugged in the [...]
Walnut Unlimited have revealed that the average commuter spends 55 hours in traffic | City A.M. August 8, 2018 A recent study has shown that the average commuter misses out on 55 hours of “free time” a year due to worsening traffic conditions. The findings by polling agency Walnut Unlimited for the Go-Ahead Group,highlighted the inconvenience suffered by road users, with a commuter leaving home on average 13 minutes early to compensate for any [...]
Nomura writes to clients about Frankfurt move in ‘no deal’ Brexit preparation | City A.M. August 8, 2018 Nomura has reportedly written to clients informing them how the bank will move their business relationship from London to Frankfurt as it prepares for a chaotic “no deal” Brexit. Trading clients based in the EU are being asked to prepare for the move, which would allow the giant Japanese bank to continue serving clients even [...]
Apple denies reports that Siri is recording private conversations | City A.M. August 8, 2018 Apple has hit back at claims that its voice assistant Siri is recording conversations without user permission. In a reply to US lawmakers issued late last night, Apple said that its iPhones require users to give microphone access to Siri and third-party apps, with it being clearly stated if an app is listening at any [...]
Samsung to plug $160bn into new technology in major growth push | City A.M. August 8, 2018 Samsung will boost its investment into tech businesses by $160bn (£123.6bn) over the next three years, in an effort to prop up South Korea’s place in industry while advancing its profit. Samsung Electronics will primarily fund $22bn of that investment to underpin research into artificial intelligence (AI), 5G connectivity, electronic components for automotives and biopharmaceuticals. [...]
Saudi Arabian prince snaps up a $250m stake in Snap for 2.3 per cent | City A.M. August 8, 2018 Snap caught a second-wind after posting its results last night, when Saudi Arabia’s Prince Alwaleed bin Talal tweeted that he has invested $250m (£193.2m) into the company in exchange for a 2.3 per cent stake. The stake is valued at $10.8bn, despite Snap’s overall market capitalisation sitting at just $17bn. Shares in Snap jumped by [...]
Musk’s Tesla tweet ‘makes a mockery’ of trading rules | City A.M. August 8, 2018 Elon Musk’s tweets suggesting he would take Tesla private “makes a mockery of public markets disclosure”, a director of Fidelity Investments has said. Musk last night said he was considering delisting the electric car firm, offering shareholders $420 per share – around a fifth higher than the price at the time. His comments – made [...]
The art of investing: Don’t underestimate how artwork can be a force for cultural change | City A.M. August 8, 2018 The art world has changed significantly since Dutch painter Johannes Vermeer created his masterpieces more than 350 years ago. Even since Picasso, Matisse, and more recently Eva Hesse were putting brush to canvas, the art world has grown and evolved. The development of the internet has played a chief role in this evolution, as has [...]