Coronavirus: Is the pandemic the final nail in the coffin for property funds? September 2, 2020 As the economy starts to reopen after lockdown, the commercial property sector is looking to bounce back from what has been a difficult year. But the vast majority of the UK’s open-ended property funds remain suspended after they were closed as the coronavirus outbreak took hold. And a recent consultation from the Financial Conduct Authority [...]
Dating app Bumble prepares for IPO above $6bn September 2, 2020 Dating app Bumble is the latest technology company to be reportedly preparing for an IPO that could come early next year. The app, which lets women make the first move, could seek a valuation of $6bn to $8bn, according to Bloomberg, citing people familiar with the matter. The report added that while Bumble is talking [...]
UK broadband speeds among the slowest in Europe September 2, 2020 The UK has tumbled further down the global broadband speed rankings to rate as one of the slowest countries in Europe. In an annual study of the average broadband speeds of 221 countries and territories, the UK dropped 13 places to rank 47th fastest in the world. Last year Britain placed 34th for average broadband [...]
Patreon valuation hits $1.2bn as it raises $90m in new funding round September 2, 2020 Patreon is now valued at more than $1bn as it announced it had raised $90m in a new funding round which it will use to expand internationally. Patreon, whose platform lets creators earn money from fans through a subscription service, said it had secured an additional round of $90m (£67.42m) in funding in a Series [...]
Facebook and Twitter take down Russia-backed accounts September 2, 2020 Facebook and Twitter have taken down a small network of accounts that were backed by a Russian influence operation, linked to interference in the 2016 US election. Facebook said the accounts were linked to Russia’s Internet Research Agency (IRA), which is close to the Russian government and accused of interfering in the 2016 US election. [...]
Moneyfarm records another year of losses and warns of more to come September 1, 2020 Digital wealth manager Moneyfarm reported another year of losses and warned the company could remain in the red for at least another year as it prioritises investment. The figures Moneyfarm reported a steady growth in revenue, up from £1.61m in 2018 to £2.72m in 2019. However the company posted losses of £13m and incurred a [...]
A quarter of women set up their own business due to coronavirus September 1, 2020 Coronavirus has acted as a huge catalyst for change for women, as one in four set up their own business in the wake of the pandemic. A study from professional women’s network Allbright found three quarters of women have been inspired to start a business after the pandemic, with a quarter already doing so. The [...]
German parliament launches investigation into Wirecard collapse September 1, 2020 German politicians will open a full inquiry into the collapse of Wirecard, forcing the government to address questions over its failure to avert one of the country’s biggest corporate frauds. Wirecard collapsed into insolvency in June and there have been growing questions over the failure of German authorities to pick up on numerous red flags. [...]
Boris Johnson joins professional networking site Linkedin September 1, 2020 Boris Johnson has joined business social networking site Linkedin, Downing Street said today. A spokesperson for the Prime Minister said it was “particularly important” for Johnson to connect businesses through the post-coronavirus economic recovery. “You can expect to see on there a mixture of written and video content from the PM which will promote UK [...]
Netflix to allow non-subscribers to watch some films and shows for free September 1, 2020 In another bid to attract new viewers, Netflix is now offering non-subscribers the opportunity to watch its series and films for free without creating an account. The streaming platform is currently offering the first episodes of series like Stranger Things, When They See Us, and Grace and Frankie. Netflix will prompt viewers to subscribe to [...]
