Foreign flops at Purplebricks and Domino’s hit shares May 7, 2019 | City Talk International expansion is not as easy as it looks – just ask the boards of Purplebricks and Domino’s. Michael Bruce, found and chief executive of Purplebricks, is stepping down after a torrid year for the company. COO Vic Darvey is stepping into the breach. That means we’ve seen the poor performance recently claim 3 CEOs [...]
The green rush? The UK’s cannabis industry is reaching dizzying new highs May 7, 2019 Predicting the emergence of the UK’s next billion-pound industry is the dream of any investor. Yet what if, unbeknown to many of its citizens, the UK were already competing as a global leader in that market? When it comes to the burgeoning legal cannabis market, this is already the reality. According to the UN’s International Narcotics [...]
Asian markets bounce back amid US trade threats to China May 7, 2019 Asian stocks bounced back in morning trading, a day after an escalation in the trade war between the US and China sparked a sharp sell-off. Read more: Car maker shares fall on Trump's Chinese tariff hike threats China’s CSI 300 index ticked up just over one per cent in early trading, after dropping almost six [...]
Occidental updates Anadarko bid to remove shareholder vote requirement and beat Chevron’s rival offer May 6, 2019 US oil and gas company Occidental said its updated $38bn (£29.02bn) bid to take over Anadarko Petroleum was designed to make it more attractive than a rival offer from Chevron by removing the requirement for a shareholder vote. Occidental increased the cash component of its offer to 78 per cent on Sunday, meaning the deal [...]
Payment startup Thunes closes $10m Series A funding round May 6, 2019 Emerging economies payment start-up Thunes has completed a $10m (£7.64m) Series A funding round led by Alibaba and Airbnb investor GGV Capital. The funding will be used to expand Singapore-headquartered Thunes across Africa, Asia and Latin America. Read more: Buy now, pay later, budget better – Laybuy is shaking up the retail sector Thunes will also add [...]
US job growth surges with more than 260,000 added as unemployment rate falls May 3, 2019 The US economy saw another strong month of growth for April with 263,000 jobs added as it continued to bounce back from February's dramatic slowdown. The Labor Department revealed on Friday that there were more than 70,000 additional jobs created last month than analysts had expected, dispelling fears from earlier in the year of a [...]
Softbank mulls float for $100bn Vision Fund as it looks for fresh cash injection May 3, 2019 Japanese investment giant Softbank is reportedly considering an initial public offering (IPO) of its $100bn (£77bn) Vision Fund. The firm is mulling the bumper float as part of series of options as it looks to raise more funds for its investment arm, the Wall Street Journal reported, citing people familiar with the matter. Read more: Softbank [...]
Bitcoin price gains continue as it jumps to six-month high May 3, 2019 Cryptocurrency Bitcoin surged six per cent this morning to hit a six-month high, in a move that has left traders “dazzled”. Read more: Wirex market view: Bitcoin Cash is star of show Bitcoin climbed as high as $5,796 today, its highest level since 14 November, according to data from Bitstamp. It has since dipped to [...]
Oil companies need to disclose more information on climate-proofing – think tank May 3, 2019 Investors fly blind when trying to figure out what impact growing climate concerns may have on future production at oil and gas firms, an influential think tank has said. Companies, including those listed in London, are not disclosing “anywhere near enough information” for investors to take informed decisions on their long-term viability, Carbon Tracker said. [...]
Coca-Cola bottler sees strong first quarter growth May 2, 2019 Coca-Cola HBC AG – the world's third-largest bottler of the drink – today announced solid first quarter performance for 2019, as well as a special dividend for investors. Overall sales revenue rose 4.7 per cent to €1.41 bn (£1.21 bn) in the first three months of the year compared to the same period in 2018, [...]