Uber’s rivals Ola, Didi Kuaidi, Lyft and GrabTaxi gang up on the rideshare app with “global alliance” December 4, 2015 Four of Uber's biggest competitors are ganging up on the cab hailing app, in a global alliance which they say will reach nearly half of the world's population. Taxi-hailing apps Ola, Didi Kuaidi, Lyft and GrabTaxi said they plan to start rolling out joint partner products in the first quarter of next year. Read more: Uber isn't breaking the law Uber has [...]
Uber’s $62.5bn valuation means it’s worth more than BT, Prudential and Barclays – and 86 other FTSE 100 constituents December 4, 2015 Uber is reported to have filed paperwork outlining plans to raise as much as $2.1bn (£1.4bn) in its latest funding round. Were the company to complete that funding round (and according to the Bloomberg report, the wheels are very much in motion for that to happen – with Tiger Global Management and T Rowe Price both [...]
Volkswagen UK market share plummets after emissions scandal as new UK car registrations rise December 4, 2015 Volkswagen sales in the UK fell 20 per cent in November, compared with last year, figures by the Society of Motor Manufacturers and Traders (SMMT) have shown – while the number of new cars sold in the UK rose. The embattled carmaker, which has been hit after it emerged software installed in some of its diesel engines allowed [...]
Berkeley Group share price rockets as it unveils an even more ambitious dividend target December 4, 2015 Shares in housebuilder Berkeley Group jumped more than six per cent this morning, after the housebuilder announced plans to raise its dividend target to £16.34 per share by 2021. In a statement this morning, the housebuilder's founder, Tony Pidgley – who won the Business Personality of the Year award at last month's City A.M. awards – said the [...]
FTSE 100 index opens down after dovish ECB decision, led lower on tourism stocks December 4, 2015 The FTSE 100 index opened lower today, still digesting the more-dovish-than-expected decisions by the European Central Bank that left markets disappointed. The UK's top blue-chip index opened 0.45 per cent down at 6,248 points. The FTSE 100 was led lower by Whitbread, which fell 2.51 per cent to 4,587.5p per share, after it bucked yesterday's trend [...]
Peter Hetherington appointed chief executive of online trading firm IG Group December 4, 2015 Online derivatives trader IG Group has appointed Peter Hetherington as its chief executive. Hetherington took on the role of interim chief executive at the company's AGM in October, after Tim Howkins's retirement in July. Before that, he was the company's chief operating officer, and has been a board member since July 2002. “I am delighted to take on the role of [...]
EU plans to cut stock market red tape could be a lifeline for small businesses December 4, 2015 Smaller companies may find raising cash on the stock market easier if EU plans to cut its own red tape come into force – providing a lifeline for cash-strapped startups unable to access bank finance. Companies hoping to list and raise less than €500,000 (£362,000) through issuing shares or bonds will no longer have to [...]
John Lewis hails record-breaking Black Friday week December 4, 2015 John Lewis has reported the best week of trading in its 151-year history, as frenzied demand for the latest wearable technology, toys and televisions over the Black Friday helped the retailer smash last year’s record. The department store group said it racked up £187.7m of sales in the week ending 28 November, which was up [...]
IPO giant Worldpay will start to offer loans to small business using big data December 4, 2015 Worldpay, the card payments processor that recently picked up the crown for the biggest London IPO of the year with a value of £4.8bn, is expanding its US small and medium sized business lending into the UK. The division, known as Worldpay Business Finance, will use its extensive data on its customers to offer them [...]
The UK’s financial services sector paid more than £66bn in taxes last year – PwC and City of London Corporation December 4, 2015 New figures out today show that the financial services sector contributed more than £66bn in taxes last year, amounting to 11 per cent of total government tax receipts. A new report from the City of London Corporation and PwC, based on a survey of 48 of the Square Mile’s largest firms, reveals that the financial [...]