WeWork losses cast shadow over $9bn listing October 10, 2021 WeWork is set to report a loss of $1.5bn (£1.1bn) for this year, weeks before the company’s planned $9bn listing on the New York Stock Exchange, according to reports. City A.M. understands that the flexible office-space provider first made investors aware of its expected losses in an earnings report in August and again in an [...]
Burger King UK prepares for whopper £600m London listing October 10, 2021 Fast-food chain Burger King is preparing to float on the London Stock Exchange for around £600m, according to reports. Burger King UK is understood to be in advanced discussions with potential advisers, including Investec and Numis bankers, as the company readies itself to list next year, according to The Times, which first reported the news. [...]
Where to eat, drink and sleep in Manchester this Tory conference October 2, 2021 Conservative Party Conference, which starts tomorrow, is a useful opportunity for the London bubble dwellers amongst us to be reminded of the promise beyond the M25. It sometimes feels as if Manchester is more familiar to football-crazy kids in the Far East than to denizens of this country’s capital city. So for out of the [...]
Newspaper tycoon Lord Rothermere has until 28 October to make £800m Daily Mail offer September 30, 2021 Since negotiations are taking longer than expected, newspaper tycoon Lord Rothermere has been granted a one-month extension to make an offer for the group behind the Daily Mail, Mail on Sunday and Metro newspapers. A previous deadline was set for today but negotiations with the pension trustees at the Daily Mail and General Trust (DMGT) [...]
Chinese Uber rival Didi’s users drop by 30 per cent after US IPO saga – CityAM : CityAM September 16, 2021 Chinese ride-hailing giant Didi has lost 30 per cent of its app’s daily users since its $4.4bn IPO in New York at the end of June, in the latest blow to the company following Beijing’s harsh regulatory crackdown for an alleged data breach. Didi’s average daily users plunged to 10.9m in August from 15.6m in [...]
Ronaldo debut set to be must-see viewing on Wall Street September 11, 2021 Analysts expect Cristiano Ronaldo’s debut this weekend to be must-see viewing for New York investors – with a strong showing potentially giving Manchester United’s share price a boost. The football club’s share price rose sharply on the New York Stock Exchange when the return of the club legend was announced. And with success on the [...]
Federer-backed shoemaker aims for $6bn valuation from New York float September 8, 2021 A shoemaking company backed by Swiss tennis star Roger Federer is aiming for a valuation of more than $6bn in its upcoming US float. The company, known as On, filed for an initial public offering (IPO) in the States in late August, after its net sales jumped by 85 per cent in the first half [...]
Lee Wilson CA on helping some of business’s biggest players get to grips with cryptocurrency September 7, 2021 This article first appeared in ICAS’ CA magazine. Lee Wilson CA, Head of Finance at Elliptic, is helping some of business’s biggest players get to grips with cryptocurrency. He gives Ryan Herman a whistle-stop tour of an industry set to influence all our lives. One of the more surprising aspects of the pandemic has been the [...]
Cazoo shares rise on New York debut in fast start to firm’s ‘next chapter’ August 28, 2021 Used car platform Cazoo ended its first day of trading as a public firm up 7.6 per cent after the firm made its long-awaited stock market debut yesterday. The $8bn float, which makes serial entrepreneur Alex Chesterman’s latest project the most valuable US listed UK firm, came after it completed its merger with SPAC Ajax [...]
Cazoo cash: Newspaper tycoon Lord Rothermere moves closer to taking Daily Mail private August 27, 2021 The successful listing of used car business Cazoo means that newspaper tycoon Lord Rothermere moves a step closer to taking the company behind the Daily Mail, Mail on Sunday and Metro newspapers private. DMGT owned a stake in Cazoo and Lord Rothermere had said if the company could join the New York Stock Exchange successfully, [...]