Goldman Sachs introduces gender quota for floats January 26, 2020 Goldman Sachs will not take a company public unless there is at least one “diverse” candidate on the board. Speaking at Davos last Thursday, the bank’s chief executive David Solomon said: “From a governance perspective, diversity on boards is a very, very important issue.” The push for diversity will be focused primarily on women. Solomon [...]
Addison Lee’s lenders plan to take control of struggling cab firm January 26, 2020 Addison Lee’s banks are set to take control to fend off the threat of an administration. A sale of the taxi operator has ground to a halt because of debts of more than £250m. The Telegraph reported that the firm is looking to finalise a deal with a group of at least eight lenders to [...]
Just Eat shares fall as CMA probes Takeaway.com merger January 24, 2020 Shares in Just Eat fell three per cent this morning after the UK’s competition regulator launched a last-minute investigation into the proposed merger between delivery giants Just Eat and Takeaway.com. Takeaway.com said that it would revise its timetable by one week, meaning that unless the Competition and Markets Authority (CMA) barred the move, shares in [...]
Uber ramps up British charm offensive with sweeping Nissan deal January 24, 2020 Nissan and Uber have signed a deal that will provide the ride-hailing giant’s drivers with a fleet of new electric cars, as Uber attempts to lay on the charm with on British authorities. The Japanese car maker will provide 2,000 new Nissan Leaf cars, made at the firm’s factory in Sunderland, to Uber at a [...]
TfL banned Uber over concerns it could not prevent breaches by its drivers January 23, 2020 A letter released today revealed that TfL stripped Uber of its licence in London because of “serious doubts” it would be able to prevent breaches that put the public at risk. The letter from TfL to Uber, dated 25 November, detailed some of the breaches that TfL was concerned about, which included drivers providing services [...]
As Vodafone quits, who’s left at Facebook’s Libra project? January 22, 2020 Vodafone has withdrawn from the organisation overseeing Facebook’s efforts to launch its Libra digital currency, making it the latest in a string of big companies to abandon the project. Facebook’s Libra project has faced intense scrutiny from regulators and politicians across the world over the social media giant’s plans for the launch of the stablecoin [...]
Davos 2020 live: Carrie Lam ‘disappointed’ by rating downgrade January 21, 2020 Please manually refresh this page for our latest Davos 2020 updates. The World Economic Forum at Davos is focusing on sustainability this year. US President Donald Trump is set to make a special address, despite his impeachment beginning in the Senate. Environmental activist Greta Thunberg hosts a panel session. Read more: What is Davos 2020? [...]
Uber sells Indian food delivery business to Zomato January 21, 2020 Uber today said it has sold its food delivery business in India to local rival Zomato in an all-share deal worth a reported $350m (£268m). The deal gives Uber a 10 per cent stake in Zomato, which is backed by Ant Financial, a fintech affiliate of Chinese conglomerate Alibaba. The companies did not disclose the [...]
Uber boss Khosrowshahi met with TfL commissioner to discuss London ban January 20, 2020 Uber’s chief executive met privately with TfL’s boss in recent days amid a brewing legal battle over the US ride-sharing firm’s future in the capital. Dara Khosrowshahi met TfL commissioner Mike Brown to discuss the dispute, Sky News reported. The meeting, which had not been disclosed, happened while Khosrowshahi was on his way to Davos [...]
European Investment Bank backs Uber rival Bolt with €50m January 16, 2020 The European Investment Bank (EIB) is to provide Bolt with €50m (£43m) financing to the help ride-hailing app develop its technologies. The financing, supported by the European Fund for Strategic Investments (EFSI), is to boost Bolt’s product development in areas where technology can improve the safety, reliability and sustainability of its services. Read more: Bolt [...]