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Payments firm Transferwise has notched up a $5bn valuation following a share sale, making it one of the most valuable tech start-ups in Europe. The London-based fintech said on Wednesday it had completed a $319m secondary share sale led by new investor D1 Capital Partners and existing shareholder Lone Pine Capital. It added that existing…
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Google-parent Alphabet will post its second-quarter earnings on Thursday, with investors aware that the group has been the worst performing stock in the FAANG (Facebook, Amazon, Apple Netflix, Google) pack this year. Analysts expect Alphabet, led by chief executive Sundar Pichai (pictured), to report revenues of $37.37bn in the second quarter, down 4% from $38.9bn…
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Carlyle Group co-chief executive Glenn Youngkin (pictured, left) announced he is stepping down after less than three years at the helm. This move will see Kewsong Lee (pictured, right) taking over as sole chief executive of the private equity giant in the middle of the coronavirus pandemic. The abrupt exit, announced last Tuesday, leaves the…
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PayPal Holdings (PYPL) will report second-quarter results on Wednesday and optimism is high among investors after strong indications for improved performance. Analysts expect PayPal’s robust product portfolio, which includes One Touch, Xoom and Venmo, and higher customer numbers to be reflected on the firm’s bottom line. The second quarter coincided with the height of the…
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The value of the US dollar could be about to take a U-turn as it approaches its lowest level since March, based on technical indicators. The greenback – tracked by the US dollar index (DXY) – has been under downward pressure as a spike in coronavirus cases in the North American country and a massive…
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Trading platform Robinhood has scrapped plans to launch in the UK to focus on its core US market The San Francisco-based trading app plans to shut down the website it had prepared for the 250,000 users who had signed up to open a UK account, and will redirect London staff to support to its US…
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As we enter the third quarter of the year, the financial markets struggle to find direction as events leave investors with many questions and few answers. Market sentiment seems to be a mix of cautiousness and hope, as the price of safe-haven assets such as gold climbs higher while riskier assets go up as well,…
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Markets may have spiked since the height of the coronavirus lockdowns, but retail investors have repeatedly failed to place winning bets over this period. Amateur traders who use complex financial products – such as spread betting and contracts for difference (CFDs) – to play the markets are losing money than they were in January. The…
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For the first time in at least 20 years the number of active exchange-traded funds (ETF) launched is outpacing the debut of passively-managed funds as as issuers bet on investor demand for stock picking. So far in 2020, 68 actively-managed ETFs have been released against only 63 passively-managed ETF products, reversing a long-held notion that…
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The $6trn global market for exchange-traded funds (ETFs) is rapidly moving away from its ‘zero-fee’ model that has been the norm for the past two years. In just a few short weeks, the first and only fund that paid people to invest switched to a new owner and dropped its no-fee policy, while one of…
