A Decentralised Autonomous Organisation – “DAO” – has already raised a staggering $33m. What does that mean? May 9, 2016 The first Decentralised Autonomous Organisation (DAO) fund has now raised over $33m, making it the second-largest crowdfunding project of all time. DAOs enable people to buy tokens in Ether, the cryptocurrency of Ethereum. Token-holders (who are a bit like shareholders) are then able to invest in smart-contract projects that run on the Ethereum blockchain – operating [...]
Live: Pensions lifeboat says that it had concerns about the BHS pension scheme in 2012 May 9, 2016 The BHS' pension scheme was on the Pension Protection Fund's (PPF) radar as far back as in 2012, MPs were told today. Alan Rubenstein, chief executive of the PPF, also explained to a committee hearing that the scheme had a 23-year recovery plan at that point, which is significantly longer than would usually be allowed. Lesley Titcomb, [...]
Shareholder group not sold on Foxtons exec pay, advising a vote against at the AGM next Wednesday May 9, 2016 The shareholder spring set its sights on a new target today, with an influential shareholder advisory group recommending a vote against the remuneration report. The Institutional Shareholder Services (ISS) has taken issue with chief executive Nic Budden's paypacket, which included a 19 per cent increase in salary and a 20 per cent increase to potential bonus. [...]
Calling all startups: The FCA’s fintech accelerator is open for business May 9, 2016 Fintech startups will now be able to test out their ideas without fear of getting on the wrong side of regulators. A so-called sandbox has been launched by the Financial Conduct Authority (FCA) today offering a tech accelerator environment for young firms looking to disrupt finance. "Supporting innovation is an essential part of our role in promoting competition [...]
Sports car manufacturer Zenos Cars aims for £750,000 crowdfunding investment round May 9, 2016 High-performance car maker Zenos Cars is looking to raise £750,000 through crowdfunding site Seedrs to fuel its expansion. The campaign, which got underway at the end of last week, has already raked in over £102,000, 14 per cent of its goal. Zenos has sold 100 cars, which start at £26,995, since the company was founded three years ago. Read more: Classic [...]
All that food Instagraming means millennials face higher inflation than anyone else May 9, 2016 It looks like their obsession with Instagram-friendly "experiences" is coming back to bite Millennials – after new research suggested they're facing the highest level of inflation of any generation around today. The research, by Fidelity International, suggested Millennials (which the research defines as those under 30) were faced with the price rises of 0.9 per cent in the year to March, thanks to [...]
People really want to invest in equities but don’t know where to start May 9, 2016 Many people would love to try to boost their savings pot by having a go at investing in equities, but don't have a clue where to begin, research out today has found. According to the survey by equity crowdfunding platform SyndicateRoom, almost half (46 per cent) of people were keen to invest in shares on the public [...]
Nationwide becomes latest lender to up its mortgage loan age limit May 9, 2016 In yet another sign millennials are drawing on the bank of mum and dad (or perhaps, grandma and grandad), Nationwide raised its mortgage borrowing age limit from 75 to 85. It means a 60-year old who is able to afford the repayments can take out a 25-year mortgage, Nationwide said. The loan limit is £150,000 and it can [...]
Should you believe in unicorns? Tech start-ups have polarised investors with Bill Gates calling for restraint but others arguing new tech will change the world May 9, 2016 The sad demise of unicorns was widely predicted at the start of the year. Unicorns – or young, technology private companies valued at over $1bn (£693m) – drew vast sums of investment throughout last year and comparisons with the dot-com boom were drawn. There are around 170 companies with unicorn status, according to Fortune. Some are [...]
The blockchain payments app: How Circle plans to change the way we spend – and think about money May 9, 2016 You don't pay to send someone an email – to send information from one place to another. And merchants typically pick up the cost of actually making the transaction when you buy something online. And the founders of Circle – the free, blockchain-enabled payments app – don’t think you should pay to send money, either. [...]
