The US government shutdown drags on, but London never closes for business January 24, 2019 As the longest government shutdown in US history rumbles on – sparked by Donald Trump’s insistence to build a border wall that Democrats in Congress have refused to grant funding for – Wall Street and Silicon Valley have been left in serious IPO limbo. Staff at the Securities and Exchange Commission (SEC) have not worked [...]
Coffee to go: Starbucks set to trial London deliveries after US roll-out January 22, 2019 Starbucks will begin trialling a coffee-to-your-door service in London at the end of the month as it looks to tap into the $95bn (£73.7bn) global market for online food delivery. The company has teamed up with food delivery app Uber Eats in a bid to corner the market in the capital by offering delivery from a [...]
Just Eat boss quits in unexpected resignation January 21, 2019 Just Eat chief executive Peter Plumb is to step down from his role at the British takeaway ordering website with immediate effect, the firm revealed this morning. In an unexpected announcement Just Eat said that Plumb is to be replaced after 16 months at the helm on an interim basis by current chief customer officer Peter Duffy [...]
Hacking Wall Street: Are tech unicorns about to disrupt stock market flotations? January 21, 2019 Tech companies have changed the way we chat, bank, travel and date. Are they about to disrupt capital markets too? “In [Silicon] Valley there’s always been that mentality: how do we hack Wall Street?” says Rob Kniaz, a founder of tech-focused venture capital firm Hoxton Ventures. Two weeks ago reports broke that Slack, the workplace [...]
Uber, Lyft, Airbnb: Unicorn IPOs are coming in 2019 January 18, 2019 | City Talk 2019 is set to be an exciting year for IPOs. Some of the biggest floats in history are planned over the coming months. But the problem with IPOs is that the excitement wanes quickly, as 2018 proved. Here’s a look at some of the most hotly anticipated stock market debuts planned for 2019 and the [...]
What3words wants to replace your address with three simple words, but how do you market such a revolutionary idea? January 14, 2019 Erase. Damp. Name. No, I’ve not gone mad due to the latest Brexit drama – these three words make up my exact location as I write this article. This information comes from What3words, a technology startup that’s trying to revolutionise – wait for it – addresses. It has divided up the entire world into a [...]
Off road: Is the car industry in reverse? January 14, 2019 The automotive industry faces recession and decline. Driverless cars are on the horizon, but has the moment for motors already passed? The first Model T Ford rolled off the production line in 1908. Available in “any colour… so long as it is black”, in the words of magnate Henry Ford, the car marked a breakthrough [...]
Softbank shares up on reports it will scale back Wework investment amid tech rout January 8, 2019 Shares in Softbank rose more than five per cent this morning following reports it has scaled back its new investment in Wework. The Japanese conglomerate reportedly plans to invest $2bn (£1.6bn) into the shared workspace startup, down from the original sum of $16bn. The investment will no longer involve Softbank’s prolific $100bn Vision Fund, the [...]
Minicab and Uber drivers to lose exemption from congestion charge December 19, 2018 Minicab and Uber drivers will no longer be exempt from the £11.50 congestion charge from April next year, Sadiq Khan announced today as part of his push to curb pollution levels. TfL expects the changes to reduce the number of private hire vehicles entering the congestion zone each day by up to 8,000, a 44 per cent drop from current levels. [...]
Uber loses appeal over driver employment rights December 19, 2018 Uber drivers are directly employed by the firm, a Court of Appeal judgement declared, after the ride-hailing app failed to overturn an employment tribunal decision. The company, which claims its drivers are self-employed, appealed a tribunal decision that said that workers are employed by the company and are therefore entitled to minimum wage and holiday pay. The [...]