Saudi Aramco holds talks to restart IPO plans July 2, 2019 Saudi Arabia has restarted plans to float its biggest asset, it has been reported, after the Saudi Aramco IPO was put on hold last year. The company, which is the world’s most profitable, has discussed a potential initial public offering (IPO) with bankers, according to Bloomberg. Read more: Saudi Aramco beats records as investors bid [...]
China wants to create a tech landscape where the US can no longer hurt it July 2, 2019 Global markets have rallied on the reignition of trade talks between the US and China, after the meeting between President Donald Trump and President Xi Jinping at the weekend. But analysts say China is already adapting to the changing business landscape, and that trade – and particularly, technological – relations will never be the same again. Meeting [...]
Facebook’s cryptocurrency Libra could run into tax trouble say lawyers July 1, 2019 Facebook’s new cryptocurrency Libra could face serious tax issues that could hamper its widespread takeup, according to City lawyers. Earlier this month, the social media giant confirmed plans to launch Libra which is intended to be a new global currency that can improve access to the financial system. Tax lawyers from Magic Circle law firm [...]
Investors ignore Japan at their peril July 1, 2019 In the seventeenth century, Japan experienced a long period of isolation from the outside world, known as sakoku. Now it is contending with a different type of seclusion, as international investors continue to ignore the archipelago. Japan is unloved and oversold by investors. The average exposure of 318 funds in the Investment Association’s global sector [...]
Opec agrees to extend oil supply cuts by nine months July 1, 2019 Oil cartel Opec agreed to extend supply cuts by nine months today, in an attempt to maintain the price of oil in face of soaring US production and fears of a global economic slowdown. Opec is meeting today in Vienna and is holding a further meeting tomorrow with Russia and other allies. Opec and its [...]
Senior women in finance call for female-led IPOs to triple July 1, 2019 Senior women from top financial institutions have called for the number of female-led businesses going public to triple by 2025. Leading women from major banks, law firms and insurance companies gathered at the opening of the London Stock Exchange this morning to call for change as part of a campaign by the WealthiHer Network. Read [...]
Long story short: What investors can learn from Carl Icahn and Netflix July 1, 2019 Seven years ago, shareholders in Netflix – the S&P 500 listed provider of online movies and shows – suffered a crushing loss as it disastrously attempted to raise prices and restructure. Roughly one million customers cancelled their subscriptions. Netflix’s share price plummeted to less than $53 from $300 in a matter of weeks, a loss [...]
FTSE 100 reaches two-month high as US-China trade war enters truce July 1, 2019 The FTSE 100 soared to a two-month high as European stocks rallied as G20 summit talks between President Donald Trump and Chinese premier Xi Jinping appeared to offer signs of progress. Trump said negotiations to end the economic dispute are “right back on track” after pledging to pause any new tariffs on Chinese goods in [...]
Low growth predicted in second quarter as Brexit uncertainty and rising costs bite July 1, 2019 Two of Britain’s biggest business groups have warned of dismal growth for the second quarter of 2019 as political turmoil and rising costs take a heavy toll on the UK economy. Downbeat forecasts for the health of the country’s private sector have been laid bare by two major business trade bodies, the British Chambers of [...]
Brexit stockpiling helps UK economy grow 1.8 per cent in early 2019 June 28, 2019 Brexit stockpiling gave a 1.8 per cent boost to the UK economy in the first quarter of 2019 compared to the same quarter last year, figures confirmed today. UK GDP rose 1.8 per cent in January to March compared to its corresponding 2018 quarter. That figure beat the 1.4 per cent quarterly growth between October [...]