From Xero to Hero: Gary Turner has his head in the cloud December 4, 2017 It is the dream of every startup to overtake the incumbent, dominant player in its field. Facebook swallowed Myspace; Uber is usurping taxis; Spotifykilled the CD. London’s fintechs are chipping away at just about every area of financial services. We are witnessing an era of great technological change. Some of the present disruption is quite [...]
Labour shadow chancellor John McDonnell quizzes UK chancellor Philip Hammond on Saudi Aramco November 14, 2017 Shadow chancellor John McDonnell has written to the chancellor to demand more information about talks taking place between the government and Saudi Arabia’s state oil company. Saudi Aramco is currently exploring its options for a flotation on a foreign stock exchange, and London and New York are the front-runners in the race to host the [...]
Sabre insurance reveals plans for £213m float with boss saying: “It’s not all young drivers in hot hatches” November 13, 2017 Quirky British car insurer Sabre today announced plans to raise £213m from a London stock market listing. The move will enable private equity firm BC Partners to realise part of its investment into the Dorking-based firm. BC, which paid £240m in 2013 for the firm, will retain a “significant stake” in Sabre post-float. Sabre specialises [...]
The government is offering Saudi Aramco a $2bn loan guarantee November 9, 2017 The UK government is finalising a $2bn loan guarantee for the most valuable company in the world – and one which it is currently hoping will list in London. UK Export and Finance (UKEF) is close to signing off a “significant” finance facility with Saudi Aramco, hoping it will be used to support making purchases [...]
Trump gives Saudi purge the thumbs up – days after saying Aramco should list in the US November 7, 2017 Donald Trump might be in Asia, but he’s still watching events in Saudi Arabia as they unfold – and has given the state his backing. Over the weekend, Saudi police arrested 11 princes and dozens of officials and businessmen, under the direction of crown prince Mohammed bin Salman and his father King Salman. Billionaire businessman [...]
“Strong case” for London Stock Exchange to win Saudi Aramco float says 10 Downing Street November 6, 2017 The London Stock Exchange (LSE) has a “strong case” for attracting the mega-float of part of state-backed oil giant Saudi Aramco, 10 Downing Street said today. A spokesperson for the Prime Minister said: “Obviously there are lots of big stock exchanges which have an interest in Aramco, including the London Stock Exchange, which we believe [...]
Snapchat owner Snap results: Analysts to look for positive growth in user engagement and ad revenue November 5, 2017 Analysts will be on the look out for some positive news from Snap this week as the company reports third quarter earnings, with user engagement and advertising revenue growth set to go under the microscope. The Silicon Valley tech firm and maker of messaging app Snapchat has floundered since its float on the New York [...]
President Donald Trump has spoken to Saudi king about Aramco listing in US on NYSE or Nasdaq November 5, 2017 Donald Trump has spoken with the Saudi king about listing oil giant Aramco in the US, the President has revealed, and it’s something the country is considering. Speaking on a visit to Japan on Sunday Trump said he “just spoke to the king a while ago and they will consider it”. It comes a day [...]
Billionaire Saudi prince with Twitter, Apple, Canary Wharf and London Savoy investments Alwaleed bin Talal detained in anti-corruption crackdown November 5, 2017 The billionaire Saudi prince Alwaleed bin Talal known for his investments in top tech firms such as Twitter and Apple, has been detained as part of an anti-corruption crackdown by the country’s crown prince Mohammed bin Salman. Shares in his Saudi-listed business Kingdom Holdings plunged more than nine per cent on the Saudi stock exchange [...]
Trump makes Twitter bid for Saudi Aramco to list on New York Stock Exchange November 4, 2017 After a very brief hiatus on Thursday, Donald Trump is back on Twitter. And he’s wasted no time in getting back to trying to Make America Great Again. First order of business: bolstering the New York Stock Exchange. Trump tweeted today that he would “very much appreciate” Saudi Aramco choosing New York for its IPO. [...]