Saudi Aramco IPO rises to $29.4bn after company issues extra shares January 12, 2020 The value of Saudi Aramco’s gargantuan initial public offering (IPO) has increased to $29.4bn (£22.5bn) after the state oil company announced it had issued 450m more shares through its “greenshoe option.” The new shares mean that Aramco’s IPO has risen by almost $4bn, meaning it is now comfortably the world’s biggest IPO. Read more: Saudi [...]
Ministry of Defence nuclear infrastructure projects set for delays of up to six years January 10, 2020 Three infrastructure projects which are together critical to the UK’s nuclear deterrent are set for delays of up to six years due to the Ministry of Defence’s (MoD) “poor management.” According to a new report from the National Audit Office (NAO), the projects will be delivered between 1.7 and 6.3 years late, at an additional [...]
World leaders blame Iran for accidentally shooting down plane January 9, 2020 World leaders have lined up to blame Iran of accidentally shooting down the Ukrainian passenger plane which crashed outside Tehran with no survivors in the early hours of Wednesday morning. Prime Minister Boris Johnson said that “there is now a body of information that the flight was shot down by an Iranian surface to air [...]
Airbus “committed” to UK after no-deal fears assuaged January 9, 2020 Airbus’ chief executive has said that the aerospace company is still “committed” to the UK, in a turnaround from previous comments on Brexit. Speaking at the company’s New Year’s reception last night, Guillaume Faury said that he saw “great potential to improve and expand our operations in the UK this year.” Read more: Airbus announces [...]
Brexit: UK to leave EU with a deal on 31 January January 9, 2020 MPs today backed Boris Johnson’s Brexit Withdrawal Agreement Bill (WAB) by majority of 99, clearing the way for the UK to leave the European Union with an exit deal on 31 January. Parliamentarians voted 330 to 231 in favour of the bill, which implements an exit deal agreed with the EU last year. After three [...]
US stock markets hit record highs as Middle East tensions ease January 9, 2020 US stock markets hit record highs today as easing tensions in the Middle East soothed traders’ nerves after a week of drama. The Dow Jones and the S&P 500 both rose just over 0.5 per cent, to 28,900.74 and 3,270.63 respectively. Read more: European stocks hit record high as Iran tensions subside The Nasdaq was [...]
Total value of UK M&A deals rises by £15bn in 2019 January 9, 2020 The total value of mergers and acquisitions (M&A) deals completed by the UK financial services industry rose almost £15bn in 2019, even though the number of such deals dropped considerably. According to data from Big Four auditor EY, financial firms completed £39.8bn worth of deals last year, up from £24.9bn in 2018. Read more: Financial [...]
Revealed: The 20 best paid jobs in the UK January 9, 2020 The 20 best paid jobs in the UK have been revealed, with chief financial officers climbing to the top of the salary tree. On average, chief financial officers earn £112,666 a year, according to data from leading UK job search site Indeed. Read more: Salaries for UK financial services workers jump amid competition for talent [...]
UK SMEs chasing £50bn in late payments January 9, 2020 Small and medium sized businesses (SMEs) across the UK are chasing a combined £50bn in late payments. New research from digital banking platform Tide reveals that the average UK SME is chasing five outstanding invoices at once, wasting an hour and a half every day. Read more: HMRC collects £4.4bn from SMEs through investigation of [...]
Banks suspend currency exchange after Travelex cyber attack January 8, 2020 High street banks Barclays, Lloyds and Royal Bank of Scotland are without foreign currency services after a cyber attack against forex giant Travelex. The banks, who get their foreign notes from Travelex, said supplies were running short after last week’s attack, in which hackers warned the firm that unless it paid $6m (£4.6m) they would [...]
