Judge P2P firms on whether they’re profitable – not just on how much money they’ve lent October 19, 2015 Three years ago this week, the veteran venture capitalist Robin Klein made the case in these pages for greater support for UK high growth technology companies in their push into mainstream London capital markets. Over time, confidence grew and several good firms were helped onto the public markets through the London Stock Exchange’s High Growth [...]
Retail website StreetHub reveals $2.6m funding round led by Octopus Ventures October 19, 2015 StreetHub, a network of independent retailers, has announced a $2.6m (£1.7m) funding round, led by Octopus Ventures. The group also received investments from Index Ventures, which has stakes in online retailers Asos, Farfetch and Net-a-Porter, among others, as well as a number of other angel investors. The new funding round coincides with the launch of [...]
Public finance numbers could be back on track – London Report October 18, 2015 THE LATEST public finance figures, due out on Wednesday, are expected to have seen renewed year-on-year improvement in September after a particularly disappointing August. An improved September performance would help get the public finances back on track to reach George Osborne’s targets after taking a hit the previous month. Economists expect public sector net borrowing [...]
Best of the Brokers for 16 October 2015 October 16, 2015 To appear in Best of the Brokers, email your research to notes@cityam.com ASOS ASOS is still “overweight”, according to Barclays, but the broker says that while investor confidence remains low, thanks to under-performing the FTSE 250, it believes shares can “materially outperform” as sales accelerate on price investments, margins are unlikely to fall below four [...]
Aim awards 2015: Junior market reaches fever pitch at the London Stock Exchange October 9, 2015 Awards season is officially in full swing, and the team behind Aim at the London Stock Exchange sure know how to party. About 1,300 guests from Aim-listed companies, as well as brokers, bankers, analysts, corporate advisers and fund managers descended on Old Billingsgate to celebrate the secondary index’s 20th award ceremony, sponsored by PwC. Fancy [...]
Boris Johnson: £35m cost to host 2017 Tour de France in London better spent elsewhere September 29, 2015 Mayor of London Boris Johnson has taken responsibility for the capital's decision not to host the start of the 2017 Tour de France, arguing that it would be too expensive. Read more: London pulls out of hosting Tour de France Grand Départ in 2017 London had trumped competition from Manchester and cities in Germany to win [...]
London pulls out of hosting Tour de France Grand Départ in 2017 September 28, 2015 London will no longer host the start of the Tour de France in 2017 after Transport for London (TfL) pulled out. Read more: Global interest in the Tour de France rises The capital was awarded the right to stage the cycling showpiece for the third time in a decade by race organisers Amaury Sport Organisation (ASO), [...]
The Beatles’ John Lennon’s school detention slip up for sale September 24, 2015 There’s a divide amongst the City’s better known CEOs. First there’s the Cambridge mafia; those with old school ties, spotless school records and fine art collections. Then, of course, there’s the boys-done-good, who left school at 16 and worked their way up from the bottom. While you’re more likely to find the City’s university alumni [...]
Best of the Brokers for 17 September 2015 September 17, 2015 To appear in Best of the Brokers, email your research to notes@cityam.com ASOS Berenberg reiterated its “buy” rating on the online retailer, and reduced its target price from 4,700p to 4,100p. The broker said that while currency headwinds are a near-term concern, a strong pound is factored into management guidance, and “the increasing utilisation of [...]
Asos share price falls as etailer confirms Nick Robertson to leave after 15 years; Nick Beighton to take reins September 2, 2015 Asos' share price tumbled this morning as the etailer confirmed boss Nick Robertson is stepping down as chief executive of the company he founded 15 years ago. Chief operating officer Nick Beighton will take on the reins with immediate effect. Robertson will stay on as a non-executive director. Beighton has been at Asos [...]