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 [...]
Sunak says investors have nothing to fear over tougher tech M&A regulation September 15, 2021 Chancellor Rishi Sunak said proposals from the UK’s competition watchdog for tougher scrutiny of M&A deals in the startup industry are reasonable and not intended to discourage early investors in UK tech companies. “I don’t think people need to be that anxious about it,” he told reporters at a tech event in London. “No one [...]
Leaseholder victory: Countryside to remove ground rent doubling terms after CMA action September 15, 2021 Developer Countryside Properties has struck out terms meaning ground rents double every 10 to 15 years, after a watchdog’s instruction Leaseholders’ ground rents will stay at the amount charged when they first bought their home, following action by the Competition and Markets Authority (CMA). The Big Four developer has voluntarily given formal commitment to removing [...]
Deliveroo launches free delivery offer for Amazon Prime members September 15, 2021 Amazon Prime members in the UK and Ireland will be able to get free unlimited delivery through a fresh partnership with delivery platform Deliveroo. All new and existing members of the online retailer’s speedy service will now be able to access a year’s Deliveroo Plus membership for free. Customers can use the offer on orders [...]
Super efficient DAOs can change the world, and they’re only just starting September 14, 2021 DAOs are just getting started with seemingly limitless potential, says Dr Chris Kacher.
CMA extends deadline to probe Facebook’s $400m Giphy deal September 10, 2021 The Competition and Markets Authority (CMA) has today extended the deadline of its investigation into Facebook’s $400m acquisition of Giphy until December 2021, according to the CMA website. The changes to the schedule of the regulator’s investigation follows criticism levelled at it by the social media giant Facebook after the CMA said it may force [...]
PCR test providers need more regulation, says competition watchdog September 10, 2021 The UK’s competition watchdog has warned that greater regulation of the PCR Covid testing market is required amid fears that competition alone “will not deliver the right outcomes for consumers”. The Competition and Markets Authority (CMA) said that without such provisions, testing firms could begin to compete on grounds other than quality, leading to a [...]
Hot on the heels of Revolut, Monzo targets buy now pay later September 10, 2021 British challenger bank Monzo is plotting a move into the buy now pay later (BNPL) market, amid exploding demand for the services since the onset of the pandemic. The digital bank is reportedly prepping to announce the launch of a new BNPL product as soon as next week, the Evening Standard first reported, making it [...]
Which companies can help Europe achieve its “Fit for 55” plans? September 10, 2021 Last month, the European Commission released its “Fit for 55” proposals. These set out how the European Union should reach its legally-binding target to cut net greenhouse gas (GHG) emissions to 55% below 1990 levels by 2030. That target will be an important milestone on the road to reach net zero emissions by 2050. The [...]
Petrol station firm EG Group mulls ‘potential $15bn sale’ September 9, 2021 Petrol station forecourt giant EG Group is reportedly mulling options for its future, including a potential sale. Bloomberg reported that a deal to sell the company, which is backed by the billionaire Issa brothers and private equity firm TDR Capital, could fetch as much as $15bn. The firm could also go for an initial public [...]