Monzo backer Accel raises $575m fund for European and Israeli startups May 16, 2019 London venture capital stalwart Accel has today announced its sixth fund for Europe's early-stage startups, closed at a final raise of $575m (£440m). The fund will be managed by a core investment team based in its London office, seeking out entrepreneurs across the continent and in Israel in both consumer and enterprise sectors at series A stage. Accel [...]
City Moves for 16 May – Who’s switching jobs at BCG Digital Ventures, Finastra and CISI? May 16, 2019 Today's City Moves includes BCG Digital Ventures, Finastra and CISI. BCG Digital Ventures BCG Digital Ventures (BCGDV), the global corporate venture, investment and incubation arm of Boston Consulting Group, has announced that Ella Rabener will join BCGDV in London as a partner and managing director in June. With this addition, the company, which specialises in [...]
Wework reports $264m loss ahead of stock market debut May 15, 2019 The We Company, the parent company of office space provider Wework, reported losses of $264m (£205m) in the first quarter of this year ahead of its highly anticipated stock market debut later this year. Net losses fell by $10m from $274m last year as revenue continues to double annually and the number of large customers [...]
Trump backs out of Christchurch online terror pledge May 15, 2019 The United States has refused to join other nations in signing a pledge to tackle the spread of violent and extremist content online. The White House said while it supported the document’s overall goals, it is “not currently in a position to join the endorsement”. Named the Christchurch Call, the statement asks governments and companies [...]
Non-Standard Finance pushes forward with £1.3bn hostile takeover of Provident May 15, 2019 Sub prime lender Non-Standard Finance has dropped the number of acceptances needed to push forward with its £1.3bn hostile takeover of rival firm Provident Financial. NSF said in a statement that its offer was now unconditional in terms of acceptances by investors, with 5 June the last date on which the takeover may be declared [...]
Euronext profit falls in first quarter as acquisitions make a dent May 15, 2019 Profit fell at European exchange Euronext in the first quarter of 2018, as the consolidation of its purchases of Ireland’s stock exchange and software company Commcise proved costly. Read more: Norway all but hands victory to Euronext in Oslo Bors battle Euronext, which received the green light to buy Norway’s Oslo Bors exchange on Monday, [...]
Brexit could be cancelled if you vote down May’s deal, cabinet ministers tell MPs May 15, 2019 Brexit could be abandoned entirely if MPs vote down Theresa May’s deal for a fourth time next month, one of the cabinet’s leading Leave advocates has warned. International Trade Secretary Liam Fox urged MPs to “carry out their part of the bargain” which was struck with voters when the they backed a referendum in 2016 [...]
Launch of $2.5bn Asian bond a ‘vote of confidence’ in London Stock Exchange May 15, 2019 A $2.5bn (£1.9bn) bond from the Asian Infrastructure Investment Bank (AIIB) was welcomed by the London Stock Exchange (LSE) today, with its launch dubbed “a vote of confidence in the UK”. Read more: London Stock Exchange boosts income and notes improved listing environment The five-year bond will list on the LSE’s main market on 17 [...]
Judge dismisses appeal over $210m Gauguin painting deal May 15, 2019 Swiss art collector Ruedi Staechelin has lost his appeal to avoid paying a $10m (£7.77m) commission fee to Simon and Michaela de Pury for their role in the sale of one of the world’s most expensive paintings. Staechelin sold Paul Gauguin’s ‘When Will You Marry?’ to the Emir of Qatar for $210m in 2014, using [...]
OnePlus 7 Pro review: OnePlus went all out on its first super-premium phone, and created something incredible May 15, 2019 OnePlus takes the war on bezels very seriously. Having valiantly whittled down the notch of last year’s OnePlus 6T to a single-lens nipple-nubbin, zealous OnePlus engineers have obliterated it completely in the newly launched OnePlus 7 Pro. Announced this week, the company’s very first premium, no-holds-barred flagship is nothin’ but screen – top to bottom, [...]