Exclusive: City investors know regulation is on the horizon for buy now pay later firms October 19, 2021 The Buy Now Pay Later sector (BNPL) has seen a surge of activity since the start of the pandemic as consumers turned to online shopping and welcomed the option to purchase trending items of clothing, beauty products and other goods without parting with all of their cash up-front. More and more BNPL options, including Klarna [...]
Weakening Chinese economy weighs on London markets October 18, 2021 A weakening Chinese economy weighed on London markets this morning as investor sentiment soured on concerns the global supply chain crisis will last longer than expected. The capital’s premier FTSE 100 edged down 0.12 per cent to 7,226.20 points during the opening session. China’s economy was dragged down by energy shortages, soaring commodity prices and [...]
THG founder Matthew Moulding to give up ‘golden share’ after £2bn mystery share plunge October 18, 2021 Online retail giant THG confirmed this morning that its founder, Matthew Moulding, has agreed to give up his “golden share” after the company’s shares plunged amid fierce scrutiny over its corporate governance. The “golden share” structure has been criticised by institutional investors who believe it can give founders too much control. THG’s structure has also [...]
Find your new home by the riverside at Leaside Lock, East London’s newest neighbourhood October 18, 2021 A new collection of contemporary studios, 1, 2 & 3 bedroom apartments in Bromley-by-Bow is launching 13th November, available with the London Help to Buy: Equity Loan* scheme on selected plots. As the prices in nearby Bow, Hackney Wick, Bethnal Green and London Fields have dramatically risen in recent years, many first-time buyers are finding [...]
West End bemoans business rates delays as reform heads for the long grass October 15, 2021 Central London bosses last night said another delay to business rates reform would be a “further blow” for beleaguered bars and restaurants. Chancellor Rishi Sunak has reportedly delayed a fundamental review of the levy, further rubbing salt in the wounds of West End businesses teetering on the brink after several lockdowns and fledgling return of [...]
ProCook mulls IPO as revenues soar October 15, 2021 UK kitchenware retailer ProCook has announced its intention to publicly sell its shares after revenue swelled to over £50m this year. The company, which sells kitchen supplies through its website and via 50 retail stores across the UK, said that if it proceeds with the listing it expects to begin trading on the main market [...]
Editorial: From fireworks to business rates, it’s time to move forward October 15, 2021 On the face of it, whether or not a fabulous yellow roman candle explodes like a spider across the stars for London’s New Year’s Eve celebrations is not the world’s most pressing issue. But in its own luminous way, the decision by the Mayor to cancel the capital’s midnight show for the second time in [...]
TradingView hits $3bn valuation amid retail investor boom October 14, 2021 TradingView has completed a $298m (£218m) funding round led by Tiger Global brining its valuation to an eye-watering $3bn. The website, which provides retail investors with free market data and insights, reported a 400 per cent jump in membership accounts and a 237 per cent increase in visitors over the past 18 months as lockdowns [...]
Three jobs to apply for this week (including a REALLY cool one at eClerx) October 14, 2021 Are you on the hunt for a new gig? Well, you have come to the right place. This week, we’re bringing you three brilliant (and interesting) roles that are available on City AM Jobs. So if you are looking for a new opportunity, get applying… Analytics Consultant, eClerx This role on the Solutions Consulting team [...]
£2bn loss in 15 mins: THG in the dark over what caused share price drop of 35 per cent October 13, 2021 THG said today it still has not figured out what caused the online retailer’s share price to nosedive by 35 per cent during a shareholder meeting yesterday afternoon, wiping £2bn off its value. The firm’s management stressed they had not revealed any new information that might have caused such a major swing in the embattled [...]