Door Dash eyes $27bn valuation as it rides tech IPO wave November 30, 2020 US food delivery startup Door Dash is aiming to raise as much as $2.8bn (£2bn) in an initial public offering that could value it at $27bn. The Softbank-backed app plans to sell 33m shares priced between $75 and $85 each, according to a regulatory filing today. The bumper listing will come amid a flurry of [...]
The best London takeaways, and the wines to drink with them November 26, 2020 The end is in sight: one more week until we are released back into the wild. While we all brace ourselves to get back into our favourite restaurants and bars across, I have been thinking about my favourite wines to pair with takeaway food for one last lockdown binge. Indian If like me you find [...]
Piece of Cake: Lockdown treats boost revenue 30 per cent at Cake Box November 23, 2020 Specialist dessert retailer Cake Box saw shares spike almost four per cent this morning, as it announced group revenue jumped just under a third in the first half of 2020. The cream cake specialist said group revenue hiked 30 per cent to £8.6m in the 20 weeks to 30 September — up from £6.6m in [...]
The four “M”s: why the 21st century belongs to Asia November 18, 2020 For a look into the future of the global economy, and where the power is shifting, consider technology developments in both China and India., In a mere decade, China’s e-commerce market has grown from less than 1% of global sales, into the world’s largest market in 2016, representing more than 40% of transactions by value. [...]
Editorial: London cannot be kept under lock and key a moment longer than planned November 17, 2020 Over the past fortnight, since new national lockdown restrictions came into force, there has been something of a suspicion abroad in London and the south-east that our part of the country has been collateral damage as a result of increasing cases and deaths elsewhere in the country. To our untrained eye, new data released Tuesday [...]
Private Equity vs venture capital: Opposite investment mindsets November 16, 2020 Private equity (PE) and venture capital (VC) firms have the same goal: maximising returns. Yet PE buyout and VC early-stage funds go about it in very different ways. Many prospective investors fail to appreciate that the two most popular alternative asset classes adopt often directly opposing methods to drive performance. VC’s deliberate diversification In asset [...]
Snakes and Ladders: Who is moving jobs in the City this week? November 4, 2020 Snakes and Ladders provides a roundup of the most important hires and job moves across the City, every Wednesday afternoon. Email citymoves@cityam.com to be featured. Firms are continuing to adapt to the challenges and opportunities presented by the pandemic as they vie to be in prime position to recover from the economic fallout of the crisis. This week, [...]
Prop 22: Uber and Lyft win California bid to class drivers as contractors November 4, 2020 Uber and Lyft have secured a major victory today after winning a vote in California that allows the ride-hailing apps to continue classing their drivers as contractors rather than employees. Voters in California yesterday passed Proposition 22, a state ballot measure that will enable companies in the gig economy to bypass labour laws. Roughly 58 [...]
New BBC drama turns spotlight on City work pressure November 3, 2020 The BBC is turning its attention to the City with a new drama that documents the lives of university graduates battling the pressures of a cut-throat career in finance. The series, called Industry, is set at the fictional investment bank Pierpoint, where five fresh-faced grads are subjected to gruelling hours and brutal bosses as they [...]
Softbank Vision Fund dealt another blow with boardroom exodus November 2, 2020 After a year of hefty losses, Softbank is now dealing with an exodus of executives at its $100bn Vision Fund. The Japanese conglomerate plunged to its worst ever annual performance in March after recording a huge $18bn loss for the Vision Fund. It bounced back in August after strong performances by its tech investments. Softbank [...]