Historic IPO: India’s first woman-led unicorn could stoke a $4bn valuation August 3, 2021 Upcoming unicorn and beauty e-commerce startup Nykaa could be looking at a $4bn valuation once it makes the final touches to its initial public offering. The Mumbai-headquartered startup hitting a billion-dollar valuation would make it India’s first-ever woman-led unicorn. The country’s woman-led unicorn has emerged from former investment banker Falguni Nayar, who has bagged the [...]
Domino’s profits rocket as ‘Freedom Day’ ushers in more consumer cash August 3, 2021 Domino’s has seen its sales and profits rocket in the past six months, as the end of restrictions in the UK ushered in greater consumer spending power. The pizza group’s profits after tax pulled in £41.3m in the six months to 27 June, surging 117.4 per cent from its just £19m profit in 2020. Sales [...]
Meggitt shares keep flying high after Parker’s £6bn bid to buy August 2, 2021 British engineering firm Meggitt saw its shares rocket nearly 60 per cent on the London Stock Exchange this morning after US tech firm Parker tabled some £6.3bn for the firm. Shares were up an eyewatering 59.5 per cent just after opening but steadied to 54.6 per cent in its afternoon trading at 725.4p per share. [...]
Treasury appoints Unilever veteran to chair UK Government Investments August 2, 2021 The Treasury has appointed a Unilever veteran as its new chair of UK Government Investments, who will join the board in September. Vindi Banga is set to join UK Government Investments (UKGI), an arm of the Treasury, alongside his current role of chair at charity Marie Curie. The incoming chair is also a senior non-executive [...]
London’s One Palace Green mansion to be turned into luxury flats worth £100m August 2, 2021 London and Monaco residential property company REDD has bought One Palace Green on Kensington Palace Gardens, which it plans to turn into into a luxury residential scheme. Once complete, the Grade II listed mansion originally the London residence of the Howard family of Castle Howard fame, is expected to be worth more than £100 million. The property company [...]
SoftBank-backed Policybazaar files for IPO amid Indian digital economy boom August 2, 2021 Online insurance marketplace Policybazaar is to embark on an initial public offering that could rally $809m if it secures the loftier end of its price range. The SoftBank-backed startup follows a string of other tech-based emerging companies preparing to ride India’s booming digital economy wave. Policybazaar will sell off new shares, according to a public notice published [...]
Government to pump £5bn into speedier internet to accelerate Covid recovery August 2, 2021 The government is pumping £5bn into speeding up internet access to those in rural parts of the UK, in a bid to accelerate the country’s Covid-19 recovery. Millions stand to benefit from the government’s Project Gigabit fund, which seeks to upgrade digital infrastructure in hard-to-reach areas. The fund also looks to “fire up” high-growth sectors [...]
Pandemic fuels fresh business creation as entrepreneurs spy ‘unique’ opening August 2, 2021 The pandemic has been the core reason for some 26 per cent of new businesses opening this year, with most owners confident in turning a profit their first 12 months. The Covid-19 crisis has provided a ‘unique’ opportunity for entrepreneurs, according to new research from fintech firm Tide. With 65 per cent of fresh business [...]
Jack Dorsey’s Square to snap up Australian rival Afterpay for £21bn August 2, 2021 Payments firm Square is set to snap up buy now, pay later company Afterpay for some £21bn, in the biggest buyout of an Australian firm to date. Twitter co-founder Jack Dorsey, who also co-founded Square, said that the payments company and Afterpay have a “shared purpose”. The deal will peg the merging companies as a [...]
Bumble offers employees unlimited paid leave – as long as the work gets done July 30, 2021 Dating app Bumble has said its employees can take unlimited paid leave providing their manager approves it. It is understood that the app, which employs some 700 people, will allow time off so long as the work is still completed. The policy move follows the firm’s decision to shut down its office for a week [...]
