John Ashcroft

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£45m float for LoopUp, the British start-up taking on Silicon Valley

Trendy tech start-up LoopUp is set for a £45million stock market listing – netting the founders around £3.5million.<p>The company, which offers …

Marketers see Periscope as Twitter’s glimmer of hope

Twitter’s disappointing revenue forecast last week is emblematic of its growing struggles, but Periscope could be the floundering social media …

Advertising Industry

Apollo Is Negotiating a Deal to Buy Cloud Company Rackspace

Apollo Global Management (apo) is in discussions to acquire U.S. cloud services provider Rackspace Hosting (rax), people familiar with the matter …

Rackspace

UK Could Be Left With A €25 Billion Bill As It Leaves The EU

Tens of billions of euros of spending pledges need to be settled as part of the UK's Brexit negotiations.<p>The UK government could still be paying into the European Union budget even after it has formally left the union, because it has already pledged tens of billions of pounds towards projects and …

Alibaba Group
Amazon

Target moves to restock Amazon-branded products

Four years after pulling them from the shelves and its e-commerce site, Target is once again carrying Amazon-branded products, reports Bloomberg.<p>The mass merchant is currently selling Amazon Kindle e-readers, Fire tablets, and Fire TV devices on Target.com, and expects to stock the items in-store …

eCommerce

Forget contactless cards. You will soon be able to pay with your veins

The death of the plastic credit card could be a step closer as high street names including McDonald's and the Co-op prepare to test a breakthrough finger-scanning payment technology.<p>FingoPay, developed by British start-up Sthaler, uses a biometric reader to scan the veins of a shopper’s finger, …

FinTech

Airbnb raising $850 million, valued at $30B

SAN FRANCISCO - Home sharing giant Airbnb is adding $850 million to its coffers, according to reports of a filing with the State of Delaware.<p>The capital raise would value the company at $30 billion, second only to ride-sharing powerhouse Uber, which is worth $68 billion. So far, Airbnb has raised …

San Francisco

Bitcoin Emerges From Bitfinex Hack Even Stronger

Bitfinex hack victims will take a 36% haircut on their holdings.<p>This is far better than the 100% haircut that Mt. Gox users took.<p>We're witnessing …

Startups
European Union

Tesla will burn through $1.1 billion in cash this quarter

Tesla disclosed $1.1 billion in third quarter cash requirements in payments and planned expenditures on Friday, about a third of the cash on hand mid-year, in a new sign of pressure on the electric vehicle maker.<p>The company is finishing construction of a massive battery factory in Nevada, the …

Tesla

SmartPath wants to help your employees manage their finances

Managing your finances can be tough, especially if no one has ever taken the time to sit down with you and explain how it all works. SmartPath, a Y-Combinator backed company, aims to help low-income people, and the 75% of Americans who live paycheck to paycheck, better manage their finances by …

Personal Finance

One of the biggest warning signs of the financial crisis is flashing again — but this time is different

The Libor, or London Interbank Offered Rate, measures the interest rate at which banks lend to each other at different durations, and its sharp jump was a harbinger of the financial crisis.<p>An increase in the Libor, the typical thinking goes, means that banks see lending to their fellow financial …

Bank of America

Brexit was nothing compared to what's coming

But over the next couple of years, it's going to get a whole lot worse. As economies worsen, there will be more social unrest, more angry people, and crazier politicians. Somebody will try to come along on a white horse to save us all, but she usually makes it worse.<p>Are we at a point right now …

Stock Markets

Walmart and Jet.com are due to announce a $3 billion deal

Walmart and Jet.com have agreed to a deal worth "around $3 billion" and will make it official Monday, Recode's Jason Del Rey reported Sunday afternoon, citing anonymous sources.<p>The deal, which was first reported by The Wall Street Journal last week, would be the largest US e-commerce company …

Enterprise Tech
Business Development

Apple Buys a Machine-Learning Startup For a Reported $200 Million

Apple has bought a machine-learning startup called Turi in a deal reported to be worth around $200 million.<p>According to Geekwire, which first …

Machine Learning
Venture Capital

Suspended – Medium

BBVA Shuts In-House Venture Arm, Pours $250M Into New Fintech VC Propel Venture Partners

BBVA — the Spanish banking giant that acquired Simple in the U.S. and last year made a $67 million investment in still-stealth mobile-only bank Atom in the UK — is changing up how it plans to invest in fintech startups in the future.<p>The company is shutting down its in-house venture arm, BBVA …

Venture Capital

PayPal Overhauls Its Mobile App

PayPal’s mobile app is getting a massive overhaul today, representing the first time in the history that the company has rebuilt its app from scratch. With the redesign, PayPal is focused on offering a more extensible framework under the hood that will allow it to add new features in the months to …

FinTech

Venmo Processes $1 Billion in January

If there was ever a question if <b>Venmo</b> has achieved mainstream status, today’s news has the answer: The startup – owned by online payments processing …

FinTech

The world’s first crowdfunded bank? Monzo wants its customers to invest

Boss Tom Blomfield says this is just the latest example of how his challenger bank will be different from any bank before.<p>On the 1 March Mondo will …

FinTech

We've ranked the UK's four digital challenger banks

As the dust settled on the 2008 financial crisis, the Bank of England started a process that would eventually open the door for a new type of bank to …

Delinquencies on peer-to-peer loans are rising

<i>This post has been updated.</i><p>Some people who have been borrowing money from lending startups have been falling behind on their payments.<p>Data from lending data service Orchard Platform shows that delinquency rates on loans issued by fintech startups have been creeping higher over the past few months. …

Loans

BBVA continues its fintech acquisition run, buys Holvi, an online-only business bank

Spanish banking giant BBVA has made another M&A play as it looks for a bigger role in the next generation of financial services: today the company has announced the acquisition of Holvi, an online-only bank for entrepreneurs and SMBs based out of Finland. (“Holvi” means “vault” in Finnish.)<p>Terms of …

Small Business

Mondo Bank Raises £1 Million in 96 Seconds. Sets Equity Crowdfunding Record

If you were able to purchase shares of Mondo Bank on Crowdcube – Congratulations. But if you blinked and did not register at exactly 1PM GMT sorry.</i> …

Venture Capital

UK’s Atom Bank makes first acquisition, Grasp, to hone its youth-focused user experience

A day after Finnish online bank Holvi got acquired by BBVA, here comes yet more consolidation in Europe’s fintech landscape. Today, Atom Bank — a still stealth, online-only startup, coincidentally also backed by BBVA — announced its first acquisition: Grasp, a design and development house based out …

FinTech