Coinbase lands fresh valuation at over $8bn October 30, 2018 Cryptocurrency exchange Coinbase today revealed it had raised an additional $300m (£236m) of investment in a series E round led by Tiger Global Management. The move takes the company’s valuation to over $8bn, at a significant leap from its last valuation of $1.6bn last summer. The round was supported by Y Combinator Continuity, Wellington Management, Andreessen [...]
Market falls: cause for alarm or calm? October 26, 2018 | City Talk Stock markets globally have been falling since the end of September. Economic worries including a potential trade war between the US and China, currency crises in Turkey and Argentina, debt problems in Italy and rising interest rates have seen stocks globally begin to fall from record highs. As the chart shows, since 31 August emerging [...]
Don’t let national security fears risk closing Britain for business October 26, 2018 The UK government’s National Security and Investment consultation, which closed last week, has an aim that is not just laudable, but essential. The government is seeking to protect vital national assets, whether emerging technology or critical infrastructure, from falling into the wrong hands – from organised crime groups to rogue states to certain major powers. [...]
Blackrock’s European regional headquarters to stay in the UK after Brexit October 24, 2018 Wealth management firm Blackrock is poised to keep its largest European regional operations headquarters in the UK after its exit from the European Union, moving "only very few" jobs to other offices on the continent. The world's largest asset management firm currently manages operations for the Europe, Middle East and African (EMEA) region from its UK [...]
The one-word secret of the greatest investor you’ve never heard of October 24, 2018 | City Talk Type a phrase such as ‘world’s greatest investors’ into Google and Philip Carret’s name is unlikely to crop up. And yet, as the following chart shows, for sheer longevity of success, he is one of just a handful of investors who can be mentioned in the same breath as Warren Buffett. That is why his [...]
Seven top tips if you want to retire early October 24, 2018 Picture this: a life of lie-ins and long holidays – all when you’re still spritely enough to enjoy the free time. For many of us, the prospect of retiring early will seem like a pipe dream. It’s true that there is no magic formula – whether you can afford early retirement is usually a question [...]
Merian Global Investors targets Asia expansion with Ping An partnership October 23, 2018 Merian Global Investors has signed an agreement with Hong Kong asset management firm Ping An as the firm targets expansion into Asia. The London-based asset management business agreed a Memorandum of Understanding with Ping An this morning, which will allow the firms to work together on fund distribution, marketing and investment advisory services. Read more: FTSE [...]
St James’s Place shares slump despite £100bn funds under management October 23, 2018 Shares in wealth manager St James's Place slumped this morning despite the revelation that the company had hit a record breaking £100bn in funds under management. The firm announced that assets under management rose to £100.6bn, up 11 per cent since the beginning of the year, however shares slipped 4.6 per cent on news of slower quarterly growth. [...]
Ex-Barclays wealth management boss says all banks will use artificial intelligence in next five years October 18, 2018 All banks will use artificial intelligence (AI) in the next five years, according to former Barclays wealth management boss Akshaya Bhargava, as institutions prepare for the $30 trillion (£28 trillion) "great wealth transfer" from baby boomers to millennials. Bhargava, who set up AI fintech platform Bridgeweave after leaving the British bank two years ago, said financial [...]
Proxy advisor Pirc warns shareholders against Ashmore Investments CEO taking ‘creeping control’ of the company October 17, 2018 Proxy firm Pensions & Investment Research Consultants (Pirc) has advised shareholders to oppose a controversial Ashmore Investments' proposal over concerns that chief executive Mark Coombs could take "creeping control" of the company. The share buyback proposal, which will be voted on at the fund house's annual general meeting on Friday, could increase Coombs shareholding from 38.61 per cent [...]