Amazon hits a trillion-dollar valuation September 4, 2018 Amazon has become the second ever US publicly-listed company to hit a $1 trillion market valuation. Amazon shares briefly passed over the $2,050.27 mark needed to break the milestone earlier this afternoon, before dropping back down to $2,035.56. It crossed the $2,000 per share threshold last Thursday, amid doubts from Wall Street that placed it [...]
Dating app Grindr is planning an overseas IPO August 30, 2018 The Chinese owner of gay dating app Grindr has revealed plans to spin off the company and list it on an overseas bourse. Kunlun Technology, which bought a 61.5 per cent stake in Grindr in 2016 before acquiring the remainder in January this year, published news of Grindr's upcoming initial public offering (IPO) overnight on [...]
Elon Musk launches fresh attack on British diver over ‘pedo’ comment August 29, 2018 Tesla chief executive Elon Musk has revisited his earlier controversial comments in which he called a British diver helping out in a rescue effort for a group of young Thai footballers a paedophile. In the midst of a Twitter spat last night regarding his interview with the New York Times at the beginning of this month, [...]
Clock’s ticking: Payday lender Wonga is ‘on the brink of collapse’ following a spike in customer claims August 26, 2018 Embattled payday lender Wonga is facing insolvency, just three weeks on from receiving an emergency £10m cash injection. The London firm is expected to appoint Grant Thornton to act as its administrator if its board decides Wonga cannot avoid falling into insolvency, Sky News first reported. Today's administration fears follow several enquiries from claims management companies [...]
Saudi Arabia pulls the plug on Aramco float August 22, 2018 Saudi Arabia has ditched plans to list state oil magnate Aramco on both international and domestic stock exchanges, according to reports. Previously labelled as the biggest deal of its kind in history, senior industry figures told Reuters that the decision to call off the initial public offering (IPO) was made “some time ago”, and that [...]
Jose Mourinho’s Manchester United future: Why former Chelsea manager could only ever be a short-term fix at Old Trafford August 21, 2018 The twin tenets of Manchester United’s ethos are stated in black and white in their investor prospectus of summer 2014, issued when the Glazer family put shares up for sale on the New York Stock Exchange. Under a section highlighting the qualities that made then-manager Louis van Gaal an attractive hire, it notes that the [...]
Vice Media’s online food brand Munchies is to expand its physical presence with a food hall venture August 21, 2018 Munchies, the online food channel owned by Vice Media, is to expand its presence in the physical world. The publisher has agreed to a brand licensing contract for a food hall at American Dream Meadowlands, a retail complex an under construction in New Jersey. Agreed between the online brand and the centre owner, Triple Five [...]
Luxury retail app Farfetch is heading to Wall Street for a multi-billion dollar listing August 20, 2018 E-commerce marketplace Farfetch, which is based in the UK and specialises in luxury brands and high-end fashion, today filed an intention to list on the New York Stock Exchange. No details were given on the amount it expects to raise or the offer price per share, however analytics firm Pitchbook valued the listing to take [...]
A-Team Mission: Make Bitcoin Mainstream August 14, 2018 What if Microsoft came together with Starbucks and the New York Stock Exchange (NYSE) on a mission to take Bitcoin mainstream? A strong enough signal that cryptocurrencies are going mainstream? Well they have! Resulting in a new platform dubbed Bakkt. Meanwhile what's the significance of the first international scientific conference, backed by the first peer-reviewed [...]
Spotify’s (SPOT) results get a rocky reception, as it hits subscriber growth at a €394m expense | City A.M. July 26, 2018 In its second financial report since going public, Spotify confirmed expectations that it won’t be profitable any time soon. The music streaming app, which listed on the New York Stock Exchange directly in April, revealed €1.27bn (£1.13bn) in revenue across its second quarter this afternoon, up 26 per cent year-on-year and in line with analyst [...]