Deliveroo: Restaurant home delivery app raises $100m investment from DST Global and Greenoaks Capital as it looks to expand in Asia and Australia November 24, 2015 Deliveroo, the app which delivers meals from restaurants to your door, has raised $100m (£66m) to fund further expansion. Deliveroo today launches in Dubai, Hong Kong, Singapore, Melbourne and Sydney, thanks to $70m raised during the summer. It only launched internationally in April with locations in Paris and Berlin. This latest funding round, a series D investment, was [...]
Oil stocks drag down the FTSE ending its rally – London Report November 24, 2015 Traders’ concerns over miners and retailers yesterday pull down London’s main index, ending a week-long run. The FTSE 100 dropped 29.1 points to 6,305.5. Oil companies were struggled after Saudi Arabia indicated it will work to stabilise oil markets, sending the price pinballing. Producers ended lower, despite a late rally after the oil price bounced [...]
Tech unicorns face fresh bubble fear November 24, 2015 Traders are piling up short interest on early stage technology firms after a string of young companies made market-busting initial public offerings (IPOs). The so-called “unicorns” – companies which are valued at $1bn before they have launched onto the stock market – are being targeted by traders betting their share prices will fall. Although they [...]
London house prices: Buy-to-let investors looking outside the capital for best value as Brewin Dolphin warns sector is a “disaster waiting to happen” November 24, 2015 A rising number of buy-to-let investors are trying to get their hands on cheaper properties outside of London and the South East, new figures reveal today. Meanwhile, one London investment manager has warned BTL is a "disaster waiting to happen" due to a lack of understanding on recent changes in the tax rules. Figures released by [...]
The UK to crash out of global trading top ten by 2050 and won’t be able to keep up with emerging markets November 24, 2015 The UK is set to fall out of the top ten trading nations by 2050, pushed out by the likes of South Korea, Mexico and other emerging markets, according to a new report. Global merchandise trade is set to quadruple by 2050, down to increased economic integration and new technology. The UK is set to struggle [...]
City Moves for 24 November 2015 | Who’s switching jobs November 23, 2015 OCTOPUS INVESTMENTS The fund manager has appointed Tim Lambert as strategic partnerships manager, with an initial focus on the affordable housing sector. He joins from Parallel Capital, which he founded in 2011. Lambert has also worked as head of consulting at Ducalian, and has held roles at Citywise and Akiko. JP MORGAN ASSET MANAGEMENT The [...]
Carl Icahn just bought a seven per cent stake in Xerox, sending the struggling printer company’s share price soaring November 23, 2015 Carl Icahn just bought a seven per cent stake in Xerox, the billionaire investor revealed late this evening. Xerox shares leapt over 10 per cent on the news that Icahn had bought 8.2m Xerox shares for $86.5m, according to a filing with the US Securities and Exchange Commission. Calling the shares “undervalued”, Icahn said in [...]
Pfizer buys Allergan but deal fails to excite Wall Street – New York Report November 23, 2015 New York investors yesterday appeared largely unemotive by a mega deal between Botox-maker Allergan and Viagra producer Pfizer. The Dow Jones industrial average fell 31.13 points, or 0.17 per cent, to 17,792.68, the S&P 500 lost 2.58 points, or 0.12 per cent, to 2,086.59 and the Nasdaq Composite dropped 2.44 points, or 0.05 per cent, [...]
Biffa in secret sell off talks: Waste management firm to go on sale for £1bn? November 23, 2015 Waste management firm Biffa is has been courting prospective buyers, giving itself a price tag of £1bn, Sky News has reported. The company is this morning set to report its half-year earnings, reportedly up by 19 per cent to £67.2m, with full-year profit expectations revised upward to £119m. Biffa is rumoured to have asked any [...]
EIA: US oil reserves hit a 43-year high as WTI and Brent crude oil prices continue to fall November 23, 2015 The US’ oil reserves rose to its highest point since 1972 last year, but plunging prices are likely to start weighing down the record-high reserves. Oil reserves soared by nine per cent in 2014, to 39bn barrels, according to US energy forecaster Energy Information Administration, which also found that natural gas reserves hit an unprecedented [...]