As loss-making Snapchat sets its valuation at up to $22.2bn, would you have to be mad to invest in its IPO? February 17, 2017 Chris Beauchamp, a senior market analyst at IG, says Yes. As the latest tech IPO to come to market, Snap, the parent company of Snapchat, offers the usual combination of coolness, hype and dubious fundamentals. The IG grey market in Snap continues to suggest that the stock will see a pop on the first day [...]
Berkshire Hathaway “A” shares have officially topped $250,000 February 15, 2017 These shares are so expensive, you need a mortgage just to buy one: last night "A" shares of Berkshire Hathaway, the vehicle founded by legendary investor Warren Buffett, rose above $250,000 dollars for the first time. The company's shares closed 0.8 per cent higher last night, at $250,419. That means shares have surged more than [...]
Lazy people rejoice: Jaguar and Shell team up for in-car cashless petrol payment February 15, 2017 Here's a treat for those often in a hurry. Jaguar and Shell have teamed up to launch the first in-car payment system for petrol. So you'll actually be able to pay for your fuel through an app on the car's touchscreen at Shell service stations. You drive up, use the car's touchscreen to select how much [...]
AIG’s share price Trump bump halted by worse than expected losses February 15, 2017 Insurance giant AIG reported a worse than expected quarterly loss of $3bn after having to ramp up reserves to cover possible claims against commercial policies it has already written. The group said it had set aside an additional $5.6bn in its fourth quarter trading statement, published overnight. AIG also revealed plans for a $3.5bn share [...]
For successful businesses, failure is not an option – it’s a requirement February 14, 2017 Urgent memo to executives everywhere: please stop saying things like “failure is not an option”. You’re engaging stakeholders – not saving Private Ryan. And if you are fostering a fear of failure among your people, you probably aren’t winning either. Let’s look at winning in today’s world, where it is increasingly crucial to spark emotional [...]
The worrying tale of how my business made $515m more than Snapchat last year February 14, 2017 The marketing and media agency I co-founded likely made at least $1bn more profit than Uber last year. We also made $515m more than Snapchat and $450m more than Twitter. This isn’t because we did anything particularly remarkable. We just stuck to the basic business principle that it’s better to make money than lose it. [...]
Apple stock just got a major upgrade from Goldman Sachs (it’s very confident about the iPhone 8) February 13, 2017 Apple's stock has closed at an all-time high after Goldman Sachs has upped its price target for the tech giant, indicating confidence in the company's upcoming 10th anniversary iPhone. Apple's shares closed 0.89 per cent higher at $133.29 a share. Goldman Sachs predicts Apple's share price could hit $150 over the next 12 months, up from previous estimates [...]
Now Sonos is hiking prices because of the weaker pound February 13, 2017 Trendy speaker maker Sonos has become the latest cult tech giant to announce it is increasing prices on its UK catalogue thanks to the weaker pound “Our prices are defined regionally,” the company said in an email to its customers. “In the UK, this includes local taxation and import duties, but we pay for everything we make in [...]
Now Santander lets you make payments using just your voice February 13, 2017 More proof that voice control is the future… Santander is now letting customers make payments just by asking their phone, along with several other new functions that work in a similar way to Apple's Siri or Amazon's Alexa Users of the bank's SmartBank app can use their voice to check their account balance, report a lost [...]
We should roll back the barriers to growth post-Brexit – not employment rights February 13, 2017 For years, some of the people I’ve encountered on the Westminster circuit have argued that one of the principal reasons for the UK to leave the EU is employment law. For this hardy bunch, and their tight circle of business supporters, rolling back employment legislation always seemed to be the answer to everything that ails Britain. [...]