Facebook cryptocurrency Libra dealt fresh regulatory blow by G7 October 14, 2019 Facebook’s Libra digital currency project must not go ahead until the social media giant demonstrates it is safe and secure, according to a G7 report. The world’s largest economies warned that cryptocurrencies such as Libra pose a threat to the global financial system and backers must ensure the coins are not used to launder money [...]
Uber challenger Bolt launches XL vehicle category in London October 14, 2019 Ride-hailing app Bolt is launching a new XL category of vehicles – with space for up to six passengers – in London today, in a bid to compete with rival Uber in its biggest European market. Bolt, which launched in London in June, is hoping its expanded offering, coupled with its comparatively low prices, will [...]
Softbank executive suggests Wework should stay private until it can ‘demonstrate cash flow’ October 8, 2019 The tech world has been rocked by a string of disappointing or cancelled IPOs this year, as companies failed to convert huge private valuations into success on public exchanges. One Softbank executive has suggested a novel solution: firms should wait until they can demonstrate suitable levels of cash flow before listing publicly. Asked about the [...]
Softbank boss Masayoshi Son ‘embarrassed’ by track record October 7, 2019 Softbank chief executive Masayoshi Son has admitted that he is “embarrassed and flustered” by his track record at the Japanese conglomerate. Read more: Softbank’s second fund hit by failed Wework listing In an interview with local media, Son said he felt that his accomplishments at Softbank had not yet lived up to his goals. “When [...]
Paypal first firm to drop out of Facebook’s Libra cryptocurrency October 5, 2019 Paypal has pulled out of an alliance attempting to launch Facebook’s digital currency Libra. The payment firm announced its decision on Friday in a statement but did not reveal why the decision has been made. The cryptocurrency and its digital wallet, Calibra, were revealed by Facebook in June. Read more: Libra co-founder hits out at [...]
Uber takes to the skies with $200 JFK helicopter taxis October 3, 2019 Uber customers in New York will soon be able to book helicopter flights to John F. Kennedy (JFK) airport using its app. The Uber Copter – currently available only to Uber premium members – will be offered to all Uber customers from 7 October. Read more: Uber Works app pairs gig economy workers with employers [...]
Uber Works app pairs gig economy workers with employers October 3, 2019 Ride hailing giant Uber has launched an app, Uber Works, to connect temporary workers looking for shifts with businesses trying to fill gaps in their rotas. The app will show workers what shifts are available in certain areas and how much they will be paid for each one, and aims to help businesses that struggle [...]
Airbnb hires Morgan Stanley and Goldman Sachs to lead stock market listing October 3, 2019 Airbnb is reportedly preparing to hire Morgan Stanley and Goldman Sachs to advise on its planned stock market debut next year. The short-term rental company is considering going public through a direct listing rather than an initial public offering (IPO) in mid-2020, according to Reuters. Read more: Airbnb plots direct listing instead of traditional IPO [...]
Ex-Freshfields lawyer says incident with married partner left her with mental health problems October 1, 2019 A former Freshfields Bruckhaus Deringer lawyer told a court today that an alleged incident of non-consensual sexual activity with a married partner at the firm had left her feeling “absolutely terrible” and in need of ongoing mental health support. The Solicitors Disciplinary Tribunal heard the lawyer give evidence from behind a screen about the allegations [...]
Airbnb ‘plots direct listing’ instead of traditional IPO for hotly-anticipated float October 1, 2019 Airbnb is said to be shunning a traditional initial public offering (IPO) in favour of a less conventional direct listing when it floats on the public market next year. The San Francisco-based tech giant is currently making preparations for a listing that would not involve creating any new shares, Bloomberg reported, citing people familiar with [...]