SoftBank-backed Flipkart rallies $37bn valuation, just south of its target July 12, 2021 Indian e-commerce giant Flipkart, which is controlled by Walmart, has been valued at $37.6bn today, just shy of its target. The valuation comes ahead of an initial public offering (IPO), which it hopes will take place early next year. Flipkart rallied $3.6bn in the pre-IPO fundraiser, which spurred its valuation and was co-led by SoftBank Vision [...]
Woman found infected with two Covid variants at the same time July 12, 2021 A 90-year-old woman from Belgium was found to have two variants of Covid-19 in her system simultaneously. After undergoing laboratory tests, the two variants detected were the Alpha and Beta types, first identified in the UK and South Africa. Dr. Anne Vankeerberghen, from the OLV hospital in Aalst, Belgium, said: “This is one of the [...]
FTSE 100 sees fall brought on by mining and energy stocks July 12, 2021 London’s FTSE 100 fell on Monday brought on by energy and mining stocks on lower commodity prices, however gains by British company Admiral helped cut some of the losses. The motor insurer jumped 3.49 per cent to the top of the FTSE 100 after it announced that it expected a first-half profit owing to fewer [...]
Apple’s two UK divisions pay just £9m in UK corporation tax as sales top £1.1bn July 12, 2021 Apple paid just £9m in tax in the UK last year even as the tech giant weathered the pandemic to pull in sales of more than £1.1bn. In recently filed accounts the iPhone maker’s two UK subsidiaries — Apple Retail UK and Apple UK — posted revenue of £1.1bn and £372m respectively in 2020. Pre-tax [...]
Lightning strike in Jaipur kills eleven while taking selfies July 12, 2021 A lightning strike took the lives of 11 people and injured many more in Jaipur, Northern India, on Sunday. The victims were taking selfies on top of a watchtower in the popular 12 Century Amer Fort. 27 people were initially on the tower when the lightning struck, with some jumping to the ground as a [...]
Trustpilot revenues up almost a third as business accelerates post-pandemic July 12, 2021 Trustpilot Group reports jump in revenue in the first half of the year, as the consumer review website continues to experience a “re-acceleration” following the pandemic-related impact in 2020. The consumer review website saw its bookings surge by 37 per cent in the first half of 2021. The business, with a market capitalisation of £1.3bn, [...]
Plus500 reports ‘positive momentum’ despite customer growth slowdown July 12, 2021 Online trading platform Plus500 today reported positive momentum in its half year trading update, following a bumper 2020. The global fintech group, operating a trading platform for contracts for difference (CFDs), noted a “very strong period of customer acquisition” up to June this year. This followed an “unprecedented” performance in 2020, driven by the pandemic [...]
Young’s to sell most tenanted pubs for £53m, eyeing a freehold future July 12, 2021 Brewery Young’s has agreed to sell 56 of its 63 pubs in its Ram Pub Company estate for £53m, to add some ‘firepower’ to existing pub upgrades ahead of no restrictions. The brewery has made “attractive returns” investing and operating managed pubs and hotels, its boss said, which it will use the newly secured funds [...]
Tate & Lyle confirms break-up with £1.2bn sweetener division sale July 12, 2021 Historic foodstuffs brand Tate & Lyle will be broken up, it confirmed this morning, as it sells off the controlling stake in its sweeteners division for £1.2bn. American private equity firm KPS Capital Partners will take a 50 per cent stake in Tate & Lyle’s “Primary Products” business, which makes commodities like artificial sweeteners and industrial [...]
Romanian flier Blue Air set for possible £500m London listing July 12, 2021 Romanian airline Blue Air will reportedly list on the London stock market in the autumn with a valuation that could be worth up to £500m. The low-cost carrier, which the Times said could make £250m from the float, is looking to mimic the success of Hungarian flier Wizz Air. At the moment, the airline has [...]
