Deliveroo’s fresh funding round brings valuation to over $7bn ahead of IPO January 17, 2021 Food delivery startup Deliveroo has secured $180m in new funding, pushing its valuation to over $7bn ahead of its long-awaited float. The Series H funding round was led by Durable Capital Partners and Fidelity Management & Research and indicates the strong demand from investors ahead of its IPO. The British unicorn is preparing for a [...]
Best of travel: A food odyssey across the South China Sea January 16, 2021 Throughout January we’re remembering better times and sunnier climes by reposting some of our favourite travel stories from the last decade. In this instalment, our Life&Style editor Steve Dinneen eats a path across the South China Sea. ••• Hong Kong’s most celebrated restaurants are the kind of Michelin-rated palaces to gastronomy that you can find [...]
In memoriam: Ian Taylor 1946-2020 January 16, 2021 Ian Taylor, who died in June of last year, ran Vitol for two decades. He was well-liked in the City not just for his business acumen, but for his philanthropy – which, it was revealed last week, continued after his death. Bloomberg reported he left £1m to the Royal Opera House and significantly more than [...]
Celebrate Burns Night 2021 with Mac and Wild at home January 15, 2021 Burns Night has always had a disproportionately significant place in the hearts of people who work in the City. There’s something about the combination of financial products and wearing kilts that just… works. There’s a reason why City A.M. has diligently printed a cut-out-and-keep version of Rabbie Burns’ famous Address to a Haggis every year [...]
Why it’s easier to spend bitcoin than £50 notes January 15, 2021 Recently a friend of mine came into possession of a number of £50 notes. If I told you too much I would have to kill you, but it apparently involved a number of Covid-19 tests, a trip to Pakistan, some Kashmiri carpets and a large man from Barbados. I know some interesting people. I thought [...]
Pubs and restaurants suffer festive flop as Christmas sales slump January 15, 2021 Pubs and restaurants were plunged into festive misery as tough Covid-19 lockdown restrictions prompted a slump in sales in Christmas. UK boozers and eateries saw total sales drop by almost three-quarters during what should have been the sector’s busiest trading period of the year. Drink-led pubs and bars were worst hit, with sales down 83.7 [...]
Everyman cinemas secures rent cuts as lockdown hits January 14, 2021 Cinema group Everyman Media today said it has secured further rent concessions from landlords as it battles closures during the latest national lockdown. The upmarket chain, which operates 35 venues across the UK, said it had also focused on reducing capital expenditure and operating costs. “We remain optimistic for the coming year post-lockdown and continue [...]
Us versus them will do nobody any good on the High Street January 14, 2021 While a new year symbolises a fresh start for many, you could be forgiven for thinking you had been planted in the film Groundhog Day but instead the calendar was stuck in 2020. Perhaps nowhere is this more the case than in the retail and hospitality industry, with Lord Sugar’s legal challenge to the planned [...]
Just Eat splurges £5m on Snoop Dogg as Covid delivers results January 13, 2021 Orders to Just Eat grew by 58 per cent in Q4 2020, marking the third consecutive quarter of order growth acceleration. Delivery orders in the UK grew by a whopping 387% in the fourth quarter of 2020 compared with the same period in 2019, as the UK again entered a national lockdown and coronavirus restrictions [...]
UK ‘to trial’ Covid-19 vaccine passports with new app January 13, 2021 The UK is said to be starting trials of a vaccine passport that could play a key role in efforts to inoculate the population against coronavirus. Thousands of Brits who have already received their Covid-19 jab will be offered a passport proving they have been vaccinated as part of a government-funded trial, the Telegraph reported. [...]