Uber valued at $17bn in new funding round with Fidelity June 6, 2014 Mobile car booking service Uber has been valued at $17bn (£10.13bn) after raising $1.2bn of primary capital in a new fundraising round. The San Francisco-based firm – set up just four years ago by entrepreneurs Garrett Camp and Travis Kalanick – raised the cash via a group of institutional investors, mutual funds, private equity and [...]
IMF flags worry over UK house price increases June 6, 2014 THE INTERNATIONAL Monetary Fund (IMF) delivered the strongest warning yet from an international organisation about the risk of a property price bubble in the UK, though it said there have been few signs of a credit-driven bubble in house prices so far. “House price inflation is particularly in high London, and is becoming more widespread”, [...]
Christine Lagarde rules herself out of running for top EU job June 6, 2014 CHRISTINE Lagarde yesterday ruled herself out of the running to become president of the European Commission, saying she would instead see out her term as head of the International Monetary Fund (IMF). “I’m not a candidate and the reason I’m not a candidate is that I have a job,” Lagarde said. “It’s a job that [...]
Governments use Vodafone to tap phones June 6, 2014 VODAFONE yesterday revealed that government agencies in six unidentified countries use its network to listen to and record customers’ calls, showing the scale of telecom eavesdropping around the world. The US and Britain both came in for global scrutiny after Edward Snowden, a former contractor with the US National Security Agency (NSA), disclosed their vast [...]
Food and room sales lift profits at Fuller’s pubs June 6, 2014 BREWER Fuller, Smith & Turner yesterday reported a jump in profit before tax of 10 per cent to £34.1m, for the year ended 29 March. The company made strong gains from food and accommodation, with like-for-like sales rising in both areas by 10.4 per cent. Revenue climbed six per cent to £288m, while the final [...]
TBC Bank prices London listing at lower price June 6, 2014 GEORGIA’S TBC Bank has set the price for an initial public offering (IPO) of global depositary receipts to be traded in London at $13 (£7.74), valuing the company at around $640m. In a statement yesterday the bank said the total size of the transaction was $238.7m excluding shares offered as part of an over-allotment option. [...]
Challenger bank Aldermore hires two new non-executives June 6, 2014 ALDERMORE, the challenger bank founded by Phillip Monks in 2009, said yesterday it has hired two new non-executive directors to its board, including a former PwC partner. The bank named John Hitchins – who spent 38 years at the big four accountancy firm before retiring this summer – and Cathy Turner, who has worked at [...]
FTSE ends the day firmer after US jobs report June 6, 2014 UK SHARES advanced yesterday after a solid US jobs report came on the heels of fresh stimulus measures from the European Central Bank that underpinned European markets. Cyclical stocks, so-called because they are highly geared to the economic cycle, were in demand, with money managers St. James’s Place and Aberdeen Asset Management among the top [...]
Government gives green light to redevelopment of Shell Centre June 6, 2014 COMMUNITIES secretary Eric Pickles yesterday signed off on the planned £1.2bn redevelopment of the Shell Centre on the Southbank. The plans for the 1.45m square foot scheme – a joint venture between the Canary Wharf Group and Qatari Diar – have been masterplanned by architecture firm Squire and Partners, and comprise a mix of offices, [...]
Dip in profit at telecom firm KCom June 6, 2014 Telecoms company KCom Group reported a marginal fall in full-year pretax profit and said it expected to see a continued decline in some traditional carrier revenue.KCom Group, which provides communications services for customers such as British Airways and Virgin Group, said pretax profit fell to £49.9m for the year ended 31 March, from £50m a [...]
