IT consultant ordered to pay £50,000 after being accused of stealing Soho House members’ personal details
London house prices: Asian homebuyers cash in on pandemic decline and weak pound June 7, 2021 Foreign buyers from primarily East Asian nations are cashing in across London’s new build market as a result of a pandemic decline in property prices, coupled with a weaker pound. According to new research by the defect management firm BuildScan, fluctuating exchange rates during the pandemic added to the appeal of the London property market [...]
City A.M. TV: A Market Snapshot June 7, 2021 US non-farm payrolls once again demonstrated their ability to move markets.
iPhones to capture 40 per cent of smartphone market value next year, research shows June 7, 2021 Sales of iPhones will bring in over $200bn in 2022, accounting for nearly 40 per cent of the total smartphone market. A new report from Juniper Research shows that iPhones will dominate the market despite representing less than 20 per cent of devices sold next year. Apple has managed to consistently convince users to buy [...]
Foreign investors now own 66 per cent of London-listed shares, data shows June 7, 2021 Foreign investors have upped their stake in British industry this year to a record 66 per cent, extending the global ownership of London-listed stocks. Investors in 107 countries were identified in new analysis of UK shareholder registers by investor relations consultancy Orient Capital. Foreign holdings of UK shares have risen steadily over the last decade, [...]
Empiric Student Property sees rentals rise even with lockdown learning June 7, 2021 Empiric Student Property, which owns and operates student accommodation, has seen rentals rise despite the impacts of the pandemic on students, while applications from Chinese students have spiked. Applications for the upcoming academic year show encouraging growth, the company said this morning, as Chinese applications grew by 21 per cent, despite the ongoing tension between [...]
Wall Street opens higher as jobs report eases inflation concerns June 4, 2021 Wall Street’s main indexes opened higher today after data showed modest US jobs growth in May, easing concerns about an early tightening of monetary policy. The Dow Jones Industrial Average rose 0.3 per cent at the open, while the Nasdaq Composite gained 0.65 per cent. The S&P 500 added 0.5 per cent as it continued [...]
Bill Ackman’s Spac closes in on $40bn deal with Universal Music June 4, 2021 Billionaire Bill Ackman’s blank-cheque company is closing in on a deal to buy a 10 per cent stake in Universal Music Group for roughly $4bn (£2.8bn). Pershing Square Tontine Holdings is in talks with Universal’s French owner Vivendi over the deal, which would value the record label at around $40bn. Vivendi, controlled by billionaire Vincent [...]
Backlash over Russian oligarch’s £1bn UK broadband bet June 3, 2021 Campaigners have called for greater scrutiny over foreign investment in the UK telecoms market after a Russian oligarch backed a £1bn plan to upgrade the country’s broadband network. Letter One, an investment company founded by billionaire Mikhail Fridman, is a key investor in a project by new broadband firm Upp to deploy full-fibre connections in [...]
What does a €50 carbon price mean for European companies? June 3, 2021 Earlier this month, the EU carbon price moved above €50 per tonne for the first time ever. The price is now more than double its level prior to the pandemic, with a sharp rise in recent months. What is the EU carbon price? The EU Emissions Trading Scheme (ETS) is designed to put a price [...]
Prosus snaps up Stack Overflow in $1.8bn edtech deal June 2, 2021 Prosus has bought Stack Overflow, an online community for software developers, in a $1.8bn deal as it seeks to capitalise on the demand for online learning. Prosus is one of Europe’s most valuable tech companies and investors and is the largest shareholder in Chinese tech giant Tencent. It is its first acquisition in the edtech [...]