Daimler, BMW to launch Uber rival as Lyft races toward IPO February 22, 2019 | City Talk The conversation around ride-hailing has this year centred on Lyft and Uber – the two tech unicorns racing to list on the US stock market. However, in the penultimate week before Lyft makes its IPO filing public, German carmakers Daimler and BMW have announced that they are set to enter the market as well, with [...]
Pound drops against dollar amid Brexit uncertainty February 22, 2019 The pound dipped to $1.29 against the dollar today after another week of ongoing Brexit uncertainty. Sterling dropped below $1.30 this afternoon as Theresa May was unable to renegotiate elements of the withdrawal agreement with the EU this week. Read more: Ofcom publishes no-deal Brexit draft broadcast TV licences May failed to reopen negotiations however, [...]
Picture perfect: Pinterest confidentially files for IPO in the latest up and coming tech float February 22, 2019 Pinterest has reportedly filed for an initial public offering (IPO), as Silicon Valley gears up for a busy year of tech startup listings. The online image search platform, known for the food and fashion photos its users post, is planning for a late-June listing and is seeking a valuation of at least $12bn, it is reported. Read [...]
Chickens come home to roost for Mike Coupe as Sainsbury-Asda deal dies February 22, 2019 | City Talk Mike Coupe was a happy chappy back in April. Notably he was caught on camera humming the lyrics to the gold digger's song – 'we're in the money' etc, after announcing a supermarket mega merger like no other. This week however the companies' complete lack of understanding of the Competition and Markets Authority has come [...]
A lesson for investors from the true life of Carlos Ghosn February 22, 2019 | City Talk Investors’ fondness for a good story is a theme we have often touched upon, here on The Value Perspective – though never in so literal a way as fortnightly Japanese manga magazine Big Comic Superior once managed. Back in 2001, it ran a comic strip chronicling the life of Carlos Ghosn, who rescued Nissan from [...]
Elon Musk denies claims Tesla is getting involved in bitcoin February 21, 2019 Elon Musk has said Tesla has no plans to get involved with bitcoin at the moment, believing that the cryptocurrency is not an efficient use of the company’s resources. The Tesla chief executive praised cryptocurrency as a potential replacement for paper money in an interview on FYI, a podcast by ARK Investment published today. “Crypto is [...]
FCA hands £415k in fines to investment groups over float collusion February 21, 2019 The UK’s financial watchdog has slapped two investment management groups with fines for breaking competition rules by sharing information ahead of an initial public offering (IPO). The Financial Conduct Authority (FCA) fined Hargreave Hale £306,300 and River and Mercantile Asset Management (Raman) £108,600. It said the firms had shared “strategic information”, including their intentions on pricing [...]
The rubbish revolution: How to profit from plastic policy changes February 21, 2019 It is estimated that eight million tonnes of plastic packaging end up in the world’s oceans every year. The plastic problem has jettisoned into social consciousness over recent years, helped by TV programmes like Blue Planet and Plastic Ocean. Now our lives are littered with concerns about the impact of this material on the environment. [...]
Silver prices hit Hochschild profits despite record production February 20, 2019 Hochschild saw good results last year, but struggled with the market conditions as silver prices faltered. The London-listed gold and silver miner, which operates in South America, increased gold production by two per cent to 260,000 ounces, while silver output was up three percent to nearly 20m ounces. Read more: Hochschild falls as miner sees [...]
Bitcoin set to match longest winning streak of 2018 February 20, 2019 Bitcoin is on course to match its longest winning streak of the past twelve months, gaining 10 per cent since last Wednesday. The cryptocurrency has had six consecutive days of gains – a rarity that it saw in July last year, a bright patch in a year when its value crashed by three-quarters. Prices are [...]