London coding security startup Snyk lands $22m series B from Accel September 25, 2018 Open source security startup Snyk today closed a $22m (£16.7m) series B funding round, led by Accel with participation from GV. Existing investors such as Boldstart Ventures and Heavybit also joined the round. With big names such as ASOS, Skyscanner and Auth0 among its clients, enterprise developers use Snyk to vet the security of [...]
What’s Next? Questions remain over autumn results after retailer’s summer boost September 25, 2018 There’s been no shortage of negative headlines surrounding UK retail in recent weeks with the woes of the sector hitting some high profile names in recent months including House of Fraser, Moss Bros last week, and John Lewis surprising the markets in reporting huge drops in profits. Earlier this year Next warned that trading conditions [...]
Blistering summer puts the heat on Zalando September 18, 2018 Online shopping giant Zalando suffered a 17 per cent drop in its share price this morning, as the firm cut its 2018 outlook for the second time in as many months. The German-based retailer now expects adjusted earnings before interest and tax (EBIT) between €150m and €190m (£133m-£197m), compared with the previous guidance at the low [...]
Blistering summer puts the heat on Zalando September 18, 2018 Online shopping giant Zalando suffered a 17 per cent drop in its share price this morning, as the firm cut its 2018 outlook for the second time in as many months. The German-based retailer now expects adjusted earnings before interest and tax (EBIT) between €150m and €190m (£133m-£197m), compared with the previous guidance at the low [...]
Boohoo snaps up Primark exec John Lyttle as new chief executive September 17, 2018 Online retailer Boohoo has announced it has snapped up Primark's chief operating officer John Lyttle to be its new chief executive. Lyttle will take on the role from 15 March 2019. Over his eight years at Primark, Lyttle oversaw a turnover growth of 158 per cent to £7bn, and has boosted operating profit by 116 per [...]
Boohoo snaps up Primark exec John Lyttle as new chief executive September 17, 2018 Online retailer Boohoo has announced it has snapped up Primark's chief operating officer John Lyttle to be its new chief executive. Lyttle will take on the role from 15 March 2019. Over his eight years at Primark, Lyttle oversaw a turnover growth of 158 per cent to £7bn, and has boosted operating profit by 116 per [...]
Danish billionaire to anchor £2bn float of p2p lender Funding Circle September 2, 2018 Billionaire Anders Povlsen – a stakeholder in fashion retailer Asos and City broken Numis – has agreed to anchor an up to £2bn floatation of the peer-to-peer lender Funding Circle. The Danish tycoon has agreed to buy a minimum 10 per cent of shareholding into Funding Circle during its floatation this autumn, when it plays [...]
Billionaire Anders Povlsen to back p2p lender Funding Circle IPO September 1, 2018 One of Britain's biggest landowners is set to buy a shareholding in peer-to-peer lending platform Funding Circle when it floats this Autumn. Danish billionaire Anders Povlsen who also owns stakes in fashion retailers ASOS and Zalando, will buy at least 10 per cent of the company up to a value of £1.65bn, Sky News reported. Read more: The [...]
Coinbase announces a new deal to let you pay for your Uber with crypto | City A.M. July 25, 2018 Coinbase has today revealed a new partnership that will allow you to pay for physical goods and services from your favourite retailers with cryptocurrencies. The deal, which will be powered by WeGift, enables Coinbase users to buy an electronic gift card, load it with cryptocurrency from their Coinbase wallet and then use them at over [...]
Last Week in the City: Markets Trumped by trade fears June 22, 2018 The week was dominated by trade war fears as Donald Trump said he would slap further tariffs on Chinese goods should there be any retaliatory measures. Despite this, Nasdaq hit a record high, although the Dow Jones Industrial Average erased all its gains in 2018 so far. The FTSE 100 fell 0.5% over the week [...]