Fashion platform Lyst raises $85m ahead of public listing May 12, 2021 Fashion platform Lyst has raised $85m ahead of its initial public offering as users jumped to 150m. New investors in the ecommerce app include funds managed by Fidelity International, Novator Capital, Giano Capital and C4 Ventures, alongside existing backers Draper Esprit, 14W, Accel, Balderton Capital, Venrex and LVMH. Entrepreneur and strategic advisor Carmen Busquets, who [...]
Tui’s half year revenues drop by nearly €6bn but summer holiday bookings surged in April May 12, 2021 Travel giant Tui took in €700m in sales in the half year to 31 March, down from €6.6bn the year prior, as borders remained closed, and summer holidays looked in doubt as destinations were lockdown. Shares in Tui slumped 3.3 per cent to 413p per share this morning. However, the travel company has since seen a slight [...]
Why you shouldn’t try to time the top of the market May 12, 2021 At the end of March, the S&P 500 index of US large companies was valued at 34 times its earnings over the past 12 months. This is more expensive than at the peak of the dotcom bubble at the end of 1999, when the figure was 31 times. And it’s a long way above the [...]
CEO of Flutter sports betting platform FanDuel steps down May 12, 2021 Sports betting and gaming group Flutter Entertainment has confirmed this morning its FanDuel chief executive officer will exit the top position after four years leading the sports gaming platform. Despite handing in his notice, Matt King has chosen to remain with FanDuel until a successor has been found. “It has been a privilege to lead FanDuel [...]
Guinness owner Diageo restarts £1bn capital return plan after strong recovery May 12, 2021 Shareholders in drinks giant Diageo are set to receive billions of pounds in share buybacks as the firm’s Covid recovery enabled the restart of its return of capital programme. Diageo, the owner of Guinness and Smirnoff, this morning said it was restarting its capital return programme after a strong financial recovery, led by North America. [...]
US investment giant to take London-listed UDG Healthcare private in £2.6bn deal May 12, 2021 UDG Healthcare, the Dublin-based health services group, is set to go private after a subsidiary of US private equity giant Clayton, Dubilier & Rice made a £2.6bn cash offer to buy the firm. Nenelite, an Ireland-based affiliate of Clayton, Dubilier & Rice, today announced the proposed deal, which is subject to shareholder approval and is [...]
BT results: Will the telecoms giant ring the changes after Covid? May 12, 2021 The City will turn its attention to BT tomorrow morning, when the blue-chip telecoms giant will announce its results for the full year. The former state monopoly has seen its share price recover in the last year, but it’s been a tough year as the pandemic took its toll on revenue and profit. Here’s what [...]
Catering group Compass sounds optimistic note despite pandemic eating into sales and profit May 12, 2021 Catering company Compass Group suffered a sharp drop in revenue and profit in the first half of the year but sounded a positive note on its future prospects this morning. Compass’ revenue dropped 32.4 per cent from £12.48bn to £8.44bn in the six months ended 31 March due to the impact of coronavirus restrictions on [...]
Sharing about Mental Health Awareness Week? Beware targeted advertising preying on your weaknesses May 12, 2021 This year the theme of Mental Health Awareness Week is on nature and the enormous benefits it has for our mental health and wellbeing. In a year cut off from loved ones, with our lives pushed online and limited availability of real-life hugs, the wild green spaces of South West London have been fundamental to [...]
eBay moves into finance to help SMEs navigate Covid cashflow crisis May 12, 2021 eBay UK has today announced a new finance programme to help small businesses rebuild as startups across the country face a Covid-driven cashflow crunch. Capital for eBay Business Sellers (CEBS) will offer financing products to support the 300,000 SMEs that sell through the platform to 29m active monthly buyers. The launch follows new research released [...]
