UK artificial intelligence startup FiveAI lands £14m series B from Lakestar Capital, an early Facebook and Spotify backer September 6, 2017 The venture fund set up by an early backer of Facebook, Spotify and Skype has invested millions in a UK artificial intelligence startup that is planning on getting driverless cars on the road. Lakestar Capital has led the £14m series B round into FiveAI, the company working with Mclaren technologies and Transport for London on [...]
Baroness Bitcoin of Arabia: Michelle Mone’s delve into the world of cryptocurrency in Dubai apartment complex September 6, 2017 Baroness Michelle Mone, and her billionaire property mogul partner Douglas Barrowman, this morning open the sale of two 40-storey residential towers spanning 2.4m square feet in Dubai. Building a huge complex in the Emirates isn’t itself remarkable – the Middle Eastern playground for the rich is peppered with luxury apartments, largely paid for in state-owned [...]
China’s President Xi Jinping says emerging markets are ‘main engine’ of growth as services sector surprises September 5, 2017 Chinese President Xi Jinping today described emerging economies as the “main engine of global growth”, as economic indicators portrayed an economy making strong progress ahead of a crucial Communist party congress next month. Xi told fellow world leaders that emerging markets must “jointly seize the historical opportunity arising from the adjustment of world economic structure”, [...]
Gold prices have hit an 11-month high as North Korea tensions escalate September 4, 2017 London-listed gold miners shot up after gold hit an 11-month high today, as investors flocked to safe haven assets after tensions between the US and North Korea continued to escalate. Gold futures rose 0.7 per cent to just under $1,340 per ounce, their highest price since Donald Trump’s election win last November. That pushed gold [...]
Electric cars to charge ahead August 29, 2017 In late July, the UK government announced plans to ban the sale of new petrol and diesel-only cars in Britain from 2040[1]. It joined the Netherlands, Norway, India, and France to become the fifth country to commit to ending the sale of traditional internal combustion engine cars. However, while it has yet to commit to [...]
Just Eat investor Vitruvian and Hugo Boss backer Permira are managing two of the world’s most popular private equity funds August 28, 2017 Two London-based private equity houses currently hold the title of managing some of the world’s most desirable funds, according to data from private equity marketplace Palico. Investors who purchased stakes through the secondary market in Permira’s Europe IV fund and Vitruvian’s Investment Partnership 1 during the first half of 2017 were willing to pay a [...]
Chinese online mobile games developer Chengdu Skymoons Technology opens Edinburgh Studio August 23, 2017 Chinese online mobile games developer Chengdu Skymoons Technology has moved into its new permanent home within the technology incubator CodeBase after opening a studio in Edinburgh, its first in the west. Skymoons is a premier developer and publisher of online games for smart phone and tablet devices. Established in Chengdu in May 2014, Skymoons is [...]
‘We believe gold has entered a new bull market. Here are four reasons why’ August 23, 2017 Despite significant US dollar weakness, gold price performance has been muted recently. It has been held back by factors such as a rebound in real interest rates and increased stability in the Chinese yuan, which has dampened near-term investment demand for gold in China. But these are short-term factors, which do not change our view [...]
Edinburgh Airport signs ground-breaking Beijing partnership amid £80m expansion August 21, 2017 Edinburgh Airport has signed a ground-breaking partnership agreement with Beijing Capital International Airport, whilst also beginning work on an £80m expansion. Edinburgh Airport, Scotland’s largest carried 12.3m passengers in 2016 and is on track to surpass that record-breaking year in 2017. Since being sold to infrastructure fund Global Infrastructure Partners in 2012, it has grown [...]
IMF: China debt levels could lead to “crisis” if government does not act to deflate credit boom August 15, 2017 The surge in debt in China has the potential to cause a major crisis without “decisive policy action” to deflate an ongoing credit boom, the International Monetary Fund (IMF) warned today. In a report on risks facing the world’s second largest economy, the IMF said the rapid expansion in credit in recent years has helped [...]