“Paypal of renting” proptech startup Goodlord just landed millions more from investors Ribbit Capital, LocalGlobal and Global Founders Capital March 15, 2017 A startup aiming to be the Paypal of renting, making lettings easier for tenants, landlords and agents, has landed millions more in funding from top investors. Goodlord has landed £7.2m from Silicon Valley's Ribbit Capital and existing investors: Robin Klein's LocalGlobal and Global Founders Capital, the fund founded by Rocket Internet's Samwer brothers, following on from £2m raised in May [...]
FinnCap chief executive Sam Smith on IPOs, MBOs and the value of skin in the game March 14, 2017 FinnCap is a unique business grown from unusual circumstances. The leading City broker was established in 2007, when Sam Smith, its chief executive, orchestrated the management buy-out (MBO) of a small broking subsidiary of a private client stockbroking firm. Most significantly, FinnCap is now almost entirely owned by its employees – something that was a [...]
How to know when you’re ready to list on the stock market March 14, 2017 You don’t need to IPO to achieve rapid growth. Just ask Richard Branson. Founders generally also want to keep their equity close, both for control and so they can enjoy as big a percentage of any value growth as possible. But for some businesses, floating on the stock market can be the ideal way to [...]
Crude oil prices take a further hit as Saudi Arabia reports a rise in production in Opec report March 14, 2017 The price of crude oil has dropped sharply after a report by the oil producers’ cartel showed rising volumes being extracted in Saudi Arabia. Production of crude oil by Saudi Arabia rose by 263,000 barrels per day in February compared to the month before, according to the directly communicated figures reported in the monthly report [...]
Another year of profit losses for French Connection March 14, 2017 High street fashion shop, French Connection, has reported yet another year of losses. The figures French Connection said revenues for 2016 were £153.2m, down six per cent, compared to last year’s £164.2m. The company declared an underlying operating loss of £3.7m this year, compared to £4.7m last year. It has less cash this year and [...]
Sterling falls to eight-week low as traders take in Prime Minister Theresa May’s newly granted Article 50 powers March 14, 2017 Sterling has wiped out all of yesterday’s gains against the dollar as traders take in the imminent triggering of Article 50. Prime Minister Theresa May last night gained the consent of Parliament to start the process of leaving the EU. The pound fell to its lowest point since mid-January to reach lows of $1.2110 against [...]
Computacenter promises jam tomorrow as UK was “disappointing” this year March 13, 2017 IT infrastructure company Computacenter today said its UK performance for 2016 was disappointing but says next year will be “a year of progress overall” for the group. The figures Adjusted profit before tax fell by £0.5m to £86.4m, as adjusted revenues rose to £3.2bn from £3bn in 2015. The company declared a dividend of 22.2p per share, [...]
Clarkson hits choppy waters but sees plain sailing ahead March 13, 2017 Shipping broker Clarkson told investors in its preliminary results today that the outlook for profits in the medium term is good. The company said there “are now a number of indicators of improvement in the industry via measurable, if as yet relatively modest, demand growth and a slowing in the new capacity reaching the market.” [...]
Sterling sustains strength as First Minister Nicola Sturgeon signals second Scottish referendum March 13, 2017 Markets have stayed steady despite First Minister Nicola Sturgeon announcing she will seek a second referendum on Scottish independence. Against the US dollar sterling was broadly unchanged at the time of publication, sustaining gains of around 0.48 per cent, after reaching highs of $1.2240. The FTSE 100 meanwhile did not give up any gains, remaining [...]
Bitcoin’s back over $1,200 despite the Winklevoss twins’ ETF disappointment March 13, 2017 Bitcoin surged upwards overnight after it took a dive at the end of last week when the US Securities and Exchange Commission (SEC) denied approval for Tyler and Cameron Winklevoss to list a bitcoin only exchange-traded fund (ETF). The twins' hopes were dashed on Friday after the US regulator said it wasn't happy with the fact the [...]
