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ASOS Strikes £295m Acquisition Deal with Failed Retail Group Arcadia

clothing store, shop, boutique

ASOS strikes £295m deal to buy four brands from the failed retail group Arcadia. ASOS is buying the Topshop, Topman, Miss Selfridge and HIIT brands but not their shops. The acquisition will be set out in two parts – ASOS is paying £265m for the brands and a further £30m for the stock. The acquisition …

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Air Jordans, Yeezys and Insider Information: the Teenage Sneaker Reseller that made $100k per Month

Streetwear hoarder On 25 February, Bloomberg Businessweek published a profile on Joe Herbert and his thriving sneaker-resale business, West Coast Streetwear. At just 19-years old, Joe has launched a lucrative resale business off the back of sneaker bots.  Sneaker bots are advanced software programs that allow Joe to automatically add shoes to his cart and purchase …

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A Unicorn is Born: Flutterwave Earns Unicorn Status and Announces New Partnership with PayPal

Flutterwave, the payment processing company, closed a series C funding round, raising $170 million. In doing so, it took the company’s valuation to a figure “in excess of $1billion”, earning it unicorn status. It also means the company has now raised over $225 million in funding since beginning in 2016. US hedge fund, Tiger Global, and …

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The Death of the High Street

What’s happening? There has been an odd increase of acquisitions in the retail industry recently, considering the range of retailers that have entered into administration such as Aldo and Benson Beds. Boohoo, a large online retailer, has recently entered into a deal to buy Debenhams for £55m after having bought other online businesses such as Oasis …

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Reddit vs Wall Street: Meme Stocks and Market Manipulation Kick off 2021

Here’s how the GameStop saga began and what could happen next… The Reddit campaign that fuelled Wall Street chaos On January 13, a Reddit forum called WallStreetBets began boosting GameStop stocks. The campaign, led by Redditors, aimed to champion the cause of retail investors and teach Wall Street a lesson by pushing up shares that short …

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Supreme Court Finally Rules Uber Drivers as Employees

Uber drivers have recently been ruled as workers, rather than as self-employed, in the highest court in the land of England and Wales – the Supreme Court. This decision could mean the thousands of Uber drivers are entitled to minimum wage and holiday pay. Former Uber drivers, James Farrar and Yaseen Aslam took Uber to …

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What Does Suez Tell Us About Modern Trade

In 1956 the closure of the Suez Canal resulted in international trade being brought to a standstill. The importance of Suez as a link between the Middle East, Africa and Asia meant that the global economy was reliant on vessels being able to pass through freely. In 1956 two thirds of the oil used by …

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Theranos Founder Elizabeth Holmes loses bid to dismiss criminal charges

lab, experiment, test

Theranos Founder Elizabeth Holmes loses bid to dismiss criminal charges. A federal judge has denied requests to dismiss the criminal charges filed against Holmes and former top executive Ramesh “Sunny” Balwani in connection with their blood-testing start-up. Holmes went to trial on March 9th, facing charges that she and Balwani defrauded investors and deceived patients …

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Snapshot Update: Latham & Watkins leads on Airbnb $3.5bn IPO

Airbnb’s initial public offering was the largest US IPO of 2020, with stock values doubling their predicted $68. Despite facing disappointing figures in the first two quarters of 2020, Airbnb made a surprising recovery as lockdowns began to ease and tourists opted to stay in houses instead of hotels. Partly due to 2021 optimism, Airbnb’s …

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