France threatens TTIP as senate demands removal of ISDS February 5, 2015 The French senate is demanding that one of the most controversial parts of the Transatlantic Trade and Investment Partnership (TTIP) be removed. In a move that could put the future of the US-EU free trade deal in jeopardy, French senators on Tuesday opposed the inclusion of the Investor-State Dispute Settlement (ISDS). The ISDS is a [...]
Burger chain gears up for $568m float January 20, 2015 EMERGING gourmet burger chain Shake Shack said yesterday it expected its initial public offering to price at between $14 and $16 a share, giving the company a market value of up to $568m. Shake Shack, which grew from its origins as a hot dog stand in New York’s Madison Square Park, has adopted a cult [...]
Lending Club IPO: World’s largest online marketplace preparing for $4bn US stock listing December 1, 2014 Lending Club, the world’s largest online marketplace directly connecting borrowers and investors, now intends to raise as much as $800m (£508m) in its upcoming initial public offering in New York. In an updated prospectus yesterday, the peer-to-peer (P2P) lender revealed it plans to price its stock between $10 and $12 a share, giving it a [...]
RBS to put Aldgate office block up for sale with £90m price tag November 27, 2014 The Royal Bank of Scotland is close to putting one of its office buildings in Aldgate up for sale, as it looks to cut costs and tap into booming demand for property in London’s Tech City area. The bank has lined up agents at DTZ to sell Aldgate Union on Whitechapel High Street, with offers [...]
Uber vs Hailo: Why has the UK taxi app been unable to replicate its US rival’s success? October 24, 2014 Yesterday, the Hailo taxi app had its day in the sun unveiling two new features; Pay Hailo and Hailo Hub. However, the shadow of the company's withdrawal from the US after failing to successfully take on rivals such as Uber and Lyft still looms large. Things looked good for Hailo when it began its US venture three [...]
EU urged to boost controls on bankers’ pay as investigation finds 39 institutions “circumventing” new rules October 15, 2014 European regulators have been urged to bring in more stringent checks on bankers' pay after an investigation suggested a number of institutions were "circumventing" new European Union rules. The European Banking Authority (EBA) has called for the EU and the European Commission to introduce supervisors to ensure banks keep within the EU Capital Requirements Directive. [...]
Property conference targeted by residents, unions and campaigners hoping to #BlockBoris October 14, 2014 For those planning on attending the annual property conference Mipim this week, the fact it is in dreary old London rather than sunny Cannes is not the only change in normal proceedings. The trade show, which expects to welcome 4,000 property delegates to its Olympia location, is being targeted by groups including anti-gentrification campaigners, empty [...]
London’s tech firms raise record $1bn of venture capital investment October 5, 2014 London tech firms attracted a record $1bn (£626m) of venture capital investment in just the first nine months of 2014. The mammoth figure is more than 10 times what tech groups raised from venture capital firms (VCs) in the whole of 2010. Fundraising in London’s tech sector is currently up over 30 per cent on [...]
Conservative party conference: David Cameron promises £7bn in tax cuts for 30m people October 1, 2014 David Cameron yesterday fired the general election starting gun, issuing an emotional and impassioned speech in which he pledged to increase the tax-free personal allowance by £2,000 and raise the 40 per cent income tax band to £50,000. The tax giveaways are set to benefit 30m people, but will cost the Tories £7bn if they [...]
Brussels finance boss tells City: I’m on your side September 29, 2014 THE EU’s top finance regulator Michel Barnier yesterday tried to win over London’s traders during a speech in the square mile, insisting he does not want to harm the City. “The European Commission has no interest in undermining the UK, and no interest in threatening London’s place as the largest European financial centre,” he said. Barnier had [...]