China’s launch of a new technology focused stock exchange to rival Nasdaq on Wall Street has underlined the significance of state funding to the country’s fastest growing tech sector. Of the first 25 companies listed on Shanghai’s Starboard, 14 report state-owned investors among their top three shareholders . The first 25 listing, which raised $5.3bn,…
Challenger Bank owned by Sanjeev Gupta has invested over £60m in a property in London’s Mayfair whose main tenant is the industrialist’s family business. Wyelands Bank, which was acquired by the Indian-born entrepreneur in 2016, has persuaded customers from traditional high street banks by differing attractive savings rates. Wyelands’ annual results revealed they paid £64m…
The second quarter British economy shrank for the first time in seven years as stockpiling slowed and Brexit vagueness intensified and underperformed the Eurozone, the US and Japan where outputs continued to expand at rates varying from 0.2 per cent to 0.5 per cent. Output fell 0.2 per cent and down from a 0.5 per…
Coca-Cola known for its eponymous Caffeine-based drink, but the firm now appears to be experimenting with a different drug: cannabis. The drink giant is in talks with local producer Aurora Cannabis about developing marijuana-infused beverages. Although these drinks would not intoxicate customers but supposed to relieve pain. “Along with many others in the beverage industry,…
Hundreds of people gathered at the famous Abbey Road pedestrian crossing outside the EMI recording studios in London today. On August 8th 1969, one of the most-copied events in pop music history occurred, as The Beatles- John Lennon, Paul McCartney, Ringo Starr and George Harrison gathered for a brief photoshoot outside the EMI…
Burford Capital, litigation financing specialist lost half of its market value after Muddy Waters a prominent US short-seller took aim at a favourite of London’ stock market. The US hedge fund, headed by Carson Block, described Burford as a “poor business masquerading as a great one” in report that sent shares in the company down…
Tencent is to take a 10 per cent stake in Universal Music, which represents, artists from The Beatles to Taylor Swift, making their attempt to broaden its reach in the global music industry. French Media Conglomerate Vivendi Universal’s owner said it was in talks to sell the stake to Tencent in a deal that would…
Reliance teams up with BP to form a petrol station and aviation fuel joint venture in India where oil and natural gas seeks to expand in the one of the world’s fastest growing energy markets. The joint venture will be 49 per cent owned by Bp and 51 per cent by Mukesh Ambhani’s Reliance, will…
Spain took the brunt of the 2008 financial crisis as overnight the money dried up and the country’s speculative housing boom imploded prompting investors to flee. Even banks went to the wall with loss of millions of jobs. Tobias Buck arrive d in 2012, in the midst of country’s devastating financial crisis. Many young Spaniards…
A new research by the Institute of Fiscal Studies, based on tax returns submitted between2000-01 and 2015-16, show that people on the highest incomes are increasingly clustered in just a handful of parliamentary constituencies in and around the capital. Half of the top 1 per cent of income taxpayers in the UK live in just…