You can’t blame Brexit for the British car industry’s woes April 15, 2019 Quizzed by Nick Hewer on Honda’s decision to close its Swindon plant earlier this month on BBC radio, I suggested that blaming Brexit for the demise of the Japanese auto makers factory with the loss of 3,500 jobs was not the whole story. Certainly, Brexit plays havoc with the vehicle industry’s sophisticated just-in-time supply chain. [...]
Uber IPO: Six things you need to know April 13, 2019 After Uber unveiled its pitch to investors ahead of the company's initial public offering, here are six of the most significant things to know. Revenue is plateauing As Uber continue to prioritise growth over profits, the ride-hailing giant's revenue has plateaued. The firm reported an adjusted loss before interest and tax of $1.9bn for 2018, 15 per [...]
Uber files to go public as losses mount April 12, 2019 Ride-hailing giant Uber has filed to go public in New York in an initial public offering (IPO) that could be one of the largest technology floats ever, while still losing billions. The firm reported an adjusted loss before interest and tax of $1.9bn for 2018, and forecast its operating expenses “to increase significantly in the foreseeable future”. Its operating [...]
Uber investors buckle up for lower IPO price after Lyft shares veer off course April 11, 2019 Uber may be planning to price its shares more modestly than expected in its eagerly-anticipated float as it looks to learn from the torrid trading of its smaller rival Lyft. Analysts have warned the ride-hailing giant may need to lower its expectations for its initial public offering (IPO), after Lyft’s poor performance sparked fears big tech [...]
Fitness advice: How desk jockey office workers can combat the scourge of sitting, dubbed by some the ‘new smoking’ April 11, 2019 Most of my clients spend the majority of their waking hours at work. This invariably means hours chained behind a desk with very little movement. Throw in relatively poor nutrition and you have a situation where your lifestyle can start to really affect your health. Spread this scenario over many years and problems can grow [...]
Lyft shares hit new lows on reports of record $100bn Uber float April 10, 2019 Shares in ride-hailing app Lyft fell to record lows today following reports the float of arch-rival Uber could be one of the largest in history. Lyft’s shares plunged as much as seven per cent to $62.91, well below its opening price of $72. Read more: Uber IPO 'seeks to sell $10bn of shares' The fall [...]
Uber IPO: Ride-hailing firm seeks to sell $10bn of shares in largest tech float since Alibaba April 10, 2019 Uber could look to sell as much as $10bn worth of stock in its initial public offering (IPO), in a move which would make it one of the biggest tech floats ever. Read more: Morgan Stanley tapped to steer Uber through IPO If successful, the taxi app firm could hail the highest-value IPO since that [...]
Grab eyes $2bn more funding this year as it looks to create ‘app for everything’ April 8, 2019 Softbank-backed startup Grab is hoping to raise another $2bn (£1.5bn) in funding this year as it embarks on an aggressive expansion plan. The Singapore-based ride-hailing app has already raised $4.5bn in a fundraising round led by Japanese investment giant Softbank. Read more: Lyft takes a wrong turn as shares fall below float price But chief [...]
Pinterest’s valuation slips as it looks to raise $1.3bn in New York float April 8, 2019 Social media platform Pinterest plans to raise as much as $1.3bn (£995m) when it floats on the New York Stock Exchange this year. Pinterest will put 75m shares up for sale at its initial public offering (IPO), with a price tag of between $15 and $17 per share. Read more: Lyft IPO paves way for [...]
Morgan Stanley selected to steer Uber through $120bn IPO April 5, 2019 Morgan Stanley has reportedly been chosen to ensure Uber has a smooth ride through its initial public offering (IPO) after a string of volatile tech floats have set nerves jangling. The ride-hailing app has named the US investment bank as stabilisation agent for its eagerly-awaited IPO, Bloomberg reported, citing people familiar with the matter. Read [...]