Twitter divebombs despite Trump bump: Shares in the tech giant plummet as losses hit $167m February 10, 2017 Twitter's slowest reported growth since going public wiped over a billion dollars off its value yesterday, with shares in the tech giant diving more than 12 per cent by the close of trading last night. The company’s poor performance does not appear to have been helped by outspoken and controversial US President Donald Trump, who is [...]
The new indifference: Why markets just don’t care about political risk February 9, 2017 The market reaction to excessive political turmoil has been extraordinary over the last year. Any investor with a crystal ball would have shunned risk assets, given the traditional relationship between political uncertainty and equity market volatility. But they would have been wrong. Incredibly, markets dismissed each event with increasing disdain. There is no sign of [...]
What do we know about Aramco’s boutique adviser? February 8, 2017 The world’s largest IPO in recent times is expected to take place next year, as the Saudi state oil firm known as Saudi Aramco is floated with an anticipated value of around $2 trillion. New-York based investment bank, Moelis & Co. has been reported as the sole independent adviser on the IPO, representing by far [...]
Singapore Exchange in talks with Saudi Aramco to beat London and others to secondary listing spot February 6, 2017 The Singapore Exchange is said to be in talks with Saudi Aramco as it bids to co-host what is expected to be the world’s largest ever stock market listing. London, New York, Hong Kong and Japan are also thought to be in the running for the secondary listing spot of the oil and gas giant. Read [...]
Snap has officially made public its filings for an IPO, and its warning investors about the impact of Brexit February 2, 2017 Snap, owner of messaging platform Snapchat, has finally made public its filing for an initial public offering (IPO). The company made many of its financial details public for the first time tonight as it prepares for a $3bn (£2.4bn) float. With a valuation of between $20bn and $25bn Snap could be going public as soon as [...]
Saudi Aramco will publish its finances ahead of what could be the world’s biggest IPO February 2, 2017 Saudi Aramco, which is plotting what is expected to be the world's largest initial public offering (IPO), will publish its annual financial statements before the float in 2018. The Saudi state-owned company will disclose 2017 annual statements prior to the listing, Bloomberg reported energy minister Khalid Al-Falih said today at a seminar in Riyadh. “Aramco applies [...]
Lloyd’s of London says it can manage a $200bn event: Here are four scenarios insurers used to test themselves January 31, 2017 Like the rest of the world, Lloyd's of London was caught unawares by the attack on the World Trade Centre in September 2001. The world has been hit by natural catastrophes since the tragic 9/11 terror attacks, but what would happened in a doomsday scenario where a number of apocalyptic events all occurred at once? [...]
It looks like Snapchat will IPO on the NYSE January 30, 2017 Snapchat parent company Snap has chosen the New York Stock Exchange for its hotly-anticipated IPO, CNBC is reporting. The NYSE triumphed in the battle with Nasdaq for the hottest tech float in quite some time. Snap is expected to file publicly for the IPO as soon as this week, Recode has reported, going public as early as March. [...]
Davos Diary: Prime Minister May’s reception as cold as the weather January 20, 2017 At the very least, this week’s Davos agenda had a weary air of familiarity about it: sustainability, artificial intelligence and income inequality all competing to be hailed the zeitgeistian focus of the world’s power-brokers’ power breakfasts. In that respect, little has changed. But if the Trump presidential machine rolls into town this time next year, I [...]
From Manhattan hot dog cart to Leicester Square and UK expansion: The story behind upmarket burger restaurant Shake Shack December 21, 2016 Upmarket US burger company Shake Shack started as a modest hot dog cart in Madison Square Park in Manhattan in 2001. This month, it opened a new flagship UK store in Leicester Square, its fourth this side of the pond, with two more – in Victoria and Canary Wharf – to follow early next year. [...]