Cowardice over the housing crisis is pushing young Brits towards the spectre of 1970s socialism July 23, 2018 As the government creaks alarmingly under the weight of Brexit, it may seem odd – if not downright contrarian – to kickstart a discussion about the housing crisis. For many Brexiteers such as myself, Brexit is not a moment in time or a destination in itself. It is not a chance to relive the past, [...]
Luxury car maker Aston Martin has unveiled a flying car dubbed the ‘sports car for the skies’ | City A.M. July 19, 2018 Luxury fast-car manufacturer Aston Martin has unveiled a futuristic flying vehicle that has been dubbed the “sports car for the skies”. The three-seater hybrid electric vehicle was announced yesterday at the Farnborough Airshow, in a bid to compete with giants like Google and Uber in the race to revolutionise commercial air travel. Formally named the [...]
China’s Didi scores $500m and a $1.5bn spinoff deal ahead of an early 2019 exit | City A.M. July 17, 2018 Chinese ride-hailing service Didi Chuxing today announced $500m (£380.1m) in investment from the US parent of Booking.com, alongside rumours of a potential deal to sell off its car services unit for $1.5bn. Though the company has yet to comment on any plans for an initial public offering, it is thought that Didi will need to [...]
Rolls-Royce unveils ‘flying taxi’ at Farnborough Airshow July 15, 2018 Rolls-Royce has released plans for a flying taxi that could be taking to the skies in the early 2020s. The British manufacturer will unveil its designs for an electric vertical take-off and landing (EVTOL) vehicle at the Farnborough Airshow, which will be officially opened by Prime Minister Theresa May tomorrow. The air show is one of [...]
Last Week in the City: Trade wars begin July 6, 2018 Garry White, chief investment commentator, looks at the market-moving events that have shaped the UK equity markets this week (2 to 6 July 2018). The World Cup is “distracting” for participants in global markets, according to Citigroup. "We find that football is indeed distracting, subtly impacting market depth, traded volumes and execution cost,” the US [...]
Mobike refunds user deposits in China, in a bid to pedal away with market share July 5, 2018 Chinese bike-sharing company Mobike has said it will be ditching the traditional deposit scheme for all of its Chinese users, in a bid to win over the market amid fierce competition. Existing customers will be able to claim back their deposits from Mobike, which was priced at 299 yuan (£34). Mobike said in a statement [...]
My House: Legendary astrologist and spiritual teacher Shelley Von Strunckel tells us how her King’s Cross apartment gets her in the zone July 5, 2018 I used to live in a mews house in Marylebone and before that in a Victorian gothic mansion block. Now I live in a loft in King’s Cross that’s surrounded by water, which is one of the reasons I bought it – I find it soothing, but it’s also very good feng shui. I’ve lived [...]
European tech startups could reach $50bn valuations within the next few years, if they take the right steps July 5, 2018 Only six companies have managed to reach $50bn (£38bn) valuations since the turn of the millennium, and none of them were founded in Europe. So what does it take for a startup to become a tech titan? Firstly, a large gap remains between titans – companies founded after 2000 and valued at $50bn or higher [...]
Want tomorrow’s tech titans to be British? Here’s how to do it July 4, 2018 There’s an often-quoted adage, which goes something like this: “Uber, the world’s largest taxi company, owns no vehicles. Facebook, the world’s most popular media owner, creates no content. Alibaba, the most valuable retailer, has no inventory. And Airbnb, the world’s largest accommodation provider, owns no real estate.” What unites them all? Yes, they are all [...]
Uber relaunches in Finland as new laws embracing ride-sharing operators come into effect July 4, 2018 After ceasing operations in Helsinki last year, Uber is back in business after new transportation regulations came into effect this week. The ride-sharing company had suspended its services in Finland while it awaited the implementation of the new transport law, which allows for surge pricing, increased ability to roam outside of previously restrictive patrol areas, [...]