Daily Archives: January 13, 2014

Tim Bradshaw

The taxi industry’s war on app-enabled chauffeur services such as Uber has broken out into physical combat on the streets of Paris. During a strike by French cab drivers who are protesting against the rise of what are locally called “voitures de tourisme avec chauffeurs”, several drivers and limos who crossed the picket line were attacked, with windows smashed and tires slashed. 

Richard Waters

After five years of trying, online investment management firm Wealthfront seems to have hit on a formula that works. Its assets under management jumped nearly five-fold last year to top $500m.

Of course, this hardly counts as a drop in the bucket in an industry where huge scale really matters. Vanguard and Charles Schwab count their assets in the trillions. But it hints at a fast-growing opportunity for new online financial brands if they can hit the right formula – as online credit firm LendingClub has also proved.