Moulton-backed litigation funder Manolete Partners raises £29m in London float November 30, 2018 A litigation funder backed by City veteran Jon Moulton has raised £29.4m in its London initial public offering (IPO). Manolete Partners announced its intention to float on London’s Aim market today. It said it had conditionally raised £16.3m before expenses from the placing of 9,285,714 new ordinary shares with £13.1m before expenses realised by selling shareholders [...]
Softbank sets indicative IPO price at £10.34 per share to value firm at nearly £50bn November 30, 2018 Softbank intends to sell shares for ¥1500 (£10.34) a piece in its initial public offering (IPO) next month, in the country’s biggest ever listing. The company didn’t give a price range, instead plumping for a single preliminary figure for the 2.41 trillion yen (£16.44bn) IPO, Reuters reported, showing the company is confident that demand will [...]
Oil bounces back following reports Russia is prepared to cut output November 29, 2018 Crude oil prices today clawed back losses following reports that Russia has accepted the need to cut its output. Brent crude, the global benchmark, rose steeply today to $59.26 a barrel after closing at $58.12 yesterday. US West Texas Intermediate also recovered, having fallen below $50 a barrel for the first time since October 2017. [...]
What millennials want: Not what you think November 29, 2018 | City Talk Everyone thinks they have millennials figured out. But a new report suggests we don’t know what we think we know about this critical demographic, especially when it comes to investing. And that’s a big deal for finance professionals. Think about it: Millennials are poised to inherit about $30 trillion in the next 30 years. If [...]
What happens when the ‘FAANG’ stocks lose their bite? November 29, 2018 | City Talk There can be little doubt about the stars of world markets in recent years. The US has led the way, with tech companies to the fore and, at the very front of the march, the so-called ‘FAANG’ stocks of Facebook, Amazon, Apple, Netflix and Google. Still, remembering the old stock market adage ‘Tall trees do [...]
The pound falls as May warns Parliament rejecting her Brexit deal would kickstart no-deal preparations November 29, 2018 The pound has fallen to a weekly low against the euro this morning as Theresa May was grilled by a Commons committee over her Brexit deal. The Prime Minister defended her withdrawal agreement in front of the House of Commons liaison committee just a day after the Bank of England's bleak no-deal forecast, in which [...]
Mortgage approvals rise to nine-month high while consumer borrowing growth slows, says Bank of England November 29, 2018 Mortgage approvals rose to a surprising nine-month high last month, while consumer borrowing increased at its slowest pace since May 2015, the Bank of England said today. While the Bank said mortgage market activity was “broadly stable” in October, households borrowed an extra £4.1bn against their homes and the number of mortgages approved rose to [...]
Dignity shares slide after regulator proposes funeral competition probe November 29, 2018 Shares in listed-funeral provider Dignity dropped 15 per cent today following an announcement by the Competition and Markets Authority (CMA) of a potential probe of the sector. The CMA today proposed a “major funerals probe after identifying serious concerns”. Shares in Dignity fell 15 per cent, from 864p to 847p following the news. The CMA [...]
Prosperity is the key to solving the migration crisis – and that starts with security November 29, 2018 Here’s some very good news: global prosperity is at its highest level ever. The Legatum Prosperity Index tracks 149 countries, and the 2018 results out this week see prosperity continuing to rise across the world, both over the last year and over the last 11 years. More countries are becoming prosperous and more people are living [...]
Instagram has become a scammer’s paradise November 29, 2018 Today, like every day, £87,000 will be lost to online scams, with social media platforms used as a key access point. Fraudulent activity is particularly prolific on Instagram, where scammers use the unregulated landscape and image-oriented design to pose as traders and con people out of thousands of pounds. Instagram’s success has been built around [...]