Post-Brexit passporting questions hang over fintech too July 5, 2016 The question of passporting hangs over fintech startups as well as banking in a post-Brexit world. Half of fintech firms in the UK stand to lose access to the European market handed to them by passporting. A snap survey of around 100 members of industry body Innovate Finance following the referendum result found half are authorised [...]
Before the bell: What you need to know before the US market open July 5, 2016 The Bank of England has slashed its capital requirements for UK banks, the pound is at a new 31 year low, and Australia's central bank has held interest rates unchanged at 1.75 per cent. Here's what you need to know before the US open at 2.30pm London time. US futures are pointing south after coming back from [...]
Fitbug turns to crowdfunding as it takes aim at corporate fitness July 5, 2016 Wearable fitness tracker maker Fitbug is turning to crowdfunding as it seeks to raise £2.6m. Crowdfunding platform SyndicateRoom is offering investors enterprise investment scheme (EIS) shares, on the same terms of institutional investors. Fitbug, which is listed on the London Stock Exchange’s alternative investment market (Aim), has already raised £852,000 through institutional investors. This leaves up to £1.76m [...]
Roar: Dragon Capital brings Vietnam investment opportunity to the world – via London July 5, 2016 The London Stock Exchange today welcomes a new entrant at a time when several firms are understood to be postponing and calling off flotations after the UK’s Brexit vote. The flagship fund of investment management company Dragon Capital, Vietnam Enterprise Investments Limited (VEIL), today begins trading on the main market with a launch price of 250p. [...]
The infatuation with hoodies and beanbags should be consigned to history July 5, 2016 When I tell someone that I run a young tech company, I always get the same reaction. That slight recoil as they get their head around the fact that I don’t conform to the stereotype (or prejudice, by another name). First, I’m often wearing a smart shirt. The Zuck’s now famous t-shirt and hoodie approach has [...]
Columbia Threadneedle commits to London as asset managers plan Brexit discussions July 4, 2016 Fund manager Columbia Threadneedle has committed to keeping its European headquarters in London after Brexit. The company confirmed it has “begun the process of applying to expand the scope of our Luxembourg-based management company to enable us to establish an asset management presence in the EU”. Read more: Brexit is not proving an asset to [...]
Trading suspended on UK real estate fund after post-Brexit vote outflows July 4, 2016 Trading has been suspended on Standard Life Investments’ UK real estate fund in response to increased outflows. The suspension, which came into force at midday on Monday, is in response to “exceptional market circumstances” after the UK’s Brexit vote. Read more: Commercial real estate share prices hit as future of City looks uncertain The company [...]
Crowdcube is eyeing a massive new round of investment via crowdfunding July 4, 2016 Crowdcube is defying the Brexit jitters raising its own new round of funding via, where else, but its own round of crowdfunding. One of the early pioneers of the equity crowdfunding concept, the site has revealed ambitious new plans to raise more than £5m from investors. “In just five short years we have firmly established our position as [...]
Sons of London’s Sepand Oboudiyat on cow bellies, Italian artisans and fast fashion July 4, 2016 "Bob Diamond wouldn’t hire a guy who had bad shoes," Sepand Oboudiyat informs me. And the latter has done very well out of the City’s predilection for fine footwear. The founder of new men’s shoe brand Sons of London has only been trading for seven months, but he’s already seen 75 per cent growth month-on-month. Sitting at [...]
Week ahead: Brexit fears set to hang over FTSE earning reports July 4, 2016 The market is bracing itself for a slew of Brexit induced profit warnings this week as we enter the early stages of reporting season. After the UK’s shock vote to leave the European Union triggered a sharp sell off, the FTSE 100 has rebounded strongly – pushed on by international earners. The blue-chip index ended [...]
