Felix Capital leads $5m Series A financing round for online jewellery brand Mejuri September 4, 2018 Jewellery retailer Mejuri has closed a $5m (£3.89m) Series A financing round led by London-based venture firm Felix Capital. Real Ventures, Incite Ventures, BDC Capital Women in Technology Fund, and Dash Ventures also participated in the round. The funding will allow the digital brand to establish more physical stores following the opening of its first showroom in [...]
South Africa falls into recession as agriculture and transport industries slump September 4, 2018 South Africa has fallen into recession for the first time since 2009 after second quarter statistics showed the economy contracted by 0.7 per cent. The country's official statistics agency – Statistics South Africa – said the decline in gross domestic product (GDP) was contributed to by slumps in the agricultural and transport sectors. Emerging market currencies [...]
UK gold refiner Baird & Co to open a centre in Ghana September 4, 2018 The UK's largest gold refinery, Baird & Co, is to establish a centre in Ghana to provide assaying services for the west African country. East London-based Baird & Co will establish an International Gold Assay Centre and laboratory in Accra, the capital, with Ghana's Precious Minerals Marketing Company (PMMC) to determine the purity of exports. Read more: Greatland [...]
Deutsche Bank to be taken off Eurostoxx 50 blue-chip index September 4, 2018 Deutsche Bank will be removed from Europe's top index of blue-chip companies, after a challenging year deals the bank a new blow. Germany's largest lender will be demoted from the Eurostoxx 50 index on 24 September, the bank said in a statement this morning. Deutsche Bank's share price has lost nearly 38 per cent of [...]
FTSE 100 to remain unchanged in reshuffle for first time in 12 years after ‘peaceful summer’ September 4, 2018 The FTSE 100 is set to remain unchanged following its quarterly reshuffle for the first time in 12 years. Despite some “low-hanging fruit”, with the likes of Rightmove, Royal Mail and Marks & Spencer all flirting with demotion, there are not expected to be any promotions or relegations from the exchange listing of London's largest [...]
Silver linings: Should investors look beyond gold for safe haven assets? September 4, 2018 When we think of a precious metal, it’s usually gold that springs to mind. While the yellow metal has a reputation for being a safe haven asset, far less attention is given to another valuable commodity: silver. Silver is often seen as gold’s poorer relation, but it still has qualities that give it “safe” status. [...]
Lehman Brothers 10 years on September 4, 2018 | City Talk It’s hard to believe that it’s almost ten years since financial markets globally underwent a cardiac arrest that brought the world economy to its knees. Financial markets had already been on a slow downward slope in the lead up to events in September 2008, over concerns about the stability of the global financial system that [...]
Gaming retailer Green Man prepares for £100m float as it targets ‘aggressive’ international expansion September 4, 2018 Online video game retailer Green Man Gaming has announced plans to float on the London Stock Exchange in order to “aggressively” expand into international markets. The company, which sells games for a number of consoles, including Sony PlayStation and Nintendo Switch, plans to list on the Alternative Investment Market (AIM) later this month with a [...]
Return of the (Crypto) Gold Standard? September 4, 2018 Perhaps the biggest criticism, indeed difficulty, with cryptocurrencies and tokens is price volatility. So how about a return to the ‘Gold Standard’? Enter asset-backed and ‘StableCoins’. One of the great promises of blockchain technology is the mobilisation of whole swathes of assets, from property through jewellery, fine art and luxury goods to commodities such as [...]
City PM’s Crypto Insider met with Thomas Coughlin, CEO of Kinesis & ABX September 4, 2018 A new cryptocurrency has been developed, presenting a unique way to digitalise two of the most stable stores of value through the use of blockchain technology. What makes money successful and sustainable is for it to be used as an efficient medium of exchange from one party to the next. Kinesis has introduced yield-bearing digital [...]
