Forget unicorns, it’s all about gazelles June 23, 2016 Investors, founders and journalists tend to become animated when discussing unicorns, those rare tech startups valued at over $1bn. Some consider these companies the pinnacle of success, while others claim they represent market froth and an impending correction. Research released this week by GP Bullhound found that in 2016 Europe as a whole has seven [...]
UK M&A slows further in second quarter as dealmakers await referendum June 23, 2016 A slow start to the year for UK mergers and acquisitions (M&A) activity continued into the second quarter with the EU referendum looming, new data released today shows. Some $18.3bn (£12.4bn) worth of UK-targeted deals have been announced so far in the second quarter of 2016, down 53 per cent from $38.9bn in the first three [...]
We French will continue investing in London’s world-beating tech sector no matter what June 23, 2016 We are French and, as such, we have a somewhat complicated relationship with the UK. Waterloo signalled the end of French global leadership, and started 140 years of British supremacy. Adding insult to injury, for a few years the French had to endure arriving in London on Eurostar at Waterloo station. But we fought side-by-side [...]
I’m a migrant and entrepreneur: We all deserve better than Brexit June 23, 2016 I’m a Polish migrant and a successful entrepreneur, and I proudly call London home. Having lived in Krakow, Dublin and New York, it was London’s dynamic intersection of cultures from all over the world (and the EU in particular) that made me want to put down roots here. But sadly that dynamism has started to ebb away [...]
EU referendum wipes more than $100 off the price of bitcoin June 23, 2016 The bitcoin price was hammered on Thursday, losing almost $130 (£89) over 24 hours, as Britons took to the polls to cast their ballots in the EU referendum. By 5.30pm (GMT) the price of a single bitcoin was trading down 3.7 per cent at $573, according to the Bitstamp market exchange. However the day's low, mostly prompted by the EU referendum's [...]
This unicorn is leaping on its IPO June 23, 2016 Tech bubble? What tech bubble? Twilio shares have surged on its IPO, leaping as much as 70 per cent on its debut on the New York Stock Exchange. Shares surged as high as $25.50 after pricing at $15 per share, giving it a market capitalisation of more than $2bn Read more: These are the seven [...]
EU referendum: Barclays puts a stop on new stop loss orders June 23, 2016 Barclays put a block on new stop loss orders this morning, just as the EU membership vote got underway. The move could be the bank's way of shielding itself from any wild swings in exchange rates that could happen shortly after the results of the vote are announced. City A.M. understands that the restriction on [...]
General Electric has offloaded its French consumer-credit unit to private equity firm Cerberus June 23, 2016 US conglomerate General Electric has moved a step further away from financial services after finding a buyer for its French consumer-credit unit. Private equity firm Cerberus Capital Management has made a binding offer for the business. The sale would represent ending net investment of approximately $4.6bn (£3.1bn) as of the end of the first quarter of 2016. It excludes the platform’s $2bn prime [...]
“We’ll acknowledge the Wembley goal” – City Brexiters unmoved by German tabloid Bild’s promises to the UK if we vote to stay in the EU June 23, 2016 When times are desperate, people make rash promises to get their way. And so it is with Bild, Germany's top selling tabloid, whose front page on Thursday morning was filled with compromises from the EU nation. After 50 years it said it would finally admit Geoff Hurst’s shot in the 1966 World Cup final did cross the line. [...]
A decision on the expansion of London’s airports will reportedly come within two weeks June 23, 2016 A decision on airport expansion will reportedly be announced within the next two weeks. According to PoliticsHome, the government has pencilled in 7 July for an announcement, just one day after the publication of the Chilcot Inquiry into the Iraq War. A source close to the matter told City A.M. that a decision is currently [...]