Glencore chairman withdraws from dwindling Saudi investor conference October 17, 2018 Glencore chairman Tony Hayward has become the latest business leader to pull out of next week's Saudi investor conference as the backlash over the alleged murder of journalist Jamal Khashoggi intensifies. The mining and trading giant's chairman joins International Monetary Fund managing director Christine Lagarde and Societe Generale chief executive Frederic Oudea in withdrawing from [...]
Uber considers minority stake sell-off for self-driving unit October 17, 2018 Uber is reportedly considering multiple offers for minority shareholdings in its self-driving unit, as the company attempts to resolve any high-cost ventures before it goes public next year. Sources told the Financial Times that Uber had received interest from several investors looking to buy a minority stake in its Advanced Technologies Group (ATG), which could see [...]
Lyft onboards JP Morgan, Credit Suisse and Jefferies to lead its IPO October 17, 2018 US ride-hailing firm Lyft has hired JP Morgan, Credit Suisse and Jefferies as underwriters for its upcoming initial public offering (IPO), slated for an early 2019 debut. A source familiar with the matter told Reuters late last night that the three banks have been brought on board to lead the listing, after Morgan Stanley and Goldman [...]
Uber launches new UK safety features as employment appeal looms October 17, 2018 Ride-hailing firm Uber has today launched a slate of new safety features in the UK and 23 other European countries, as it heads towards a court of appeal hearing regarding workers' rights at the end of the month. The Uber app will now house a safety centre from which passengers and drivers can share their trip details [...]
IMF pulls out of Saudi investor summit as more details of journalist’s disappearance emerge October 17, 2018 International Monetary Fund managing director Christine Lagarde has become the latest global figure to withdraw from a high-profile Saudi investor conference next week following the disappearance of journalist Jamal Khashoggi. The chief executive of French bank Societe Generale, Frederic Oudea, also dropped out on Wednesday. But SoftBank, whose $93bn Vision Fund was half-funded by Saudi [...]
Uber set to be valued at $120bn when it goes public next year October 16, 2018 Ride-hailing giant Uber could be valued at $120bn (£90.8bn) as part of its upcoming public listing in 2019, skyrocketing from its last valuation in August. Several US banks have raised Uber's valuation ahead of its intended initial public offering (IPO), sources told the Wall Street Journal, which has been suggested for an early 2019 slot. Should [...]
HSBC, Credit Suisse and Standard Chartered join boycott of Saudi conference over missing journalist October 16, 2018 The chief executives of HSBC, Credit Suisse and Standard Chartered have become the latest business leaders to withdraw from a high profile Saudi investor conference next week. The banking trio have joined a plethora of influential figures and businesses to pull out of the three-day event following the disappearance of journalist Jamal Khashoggi. The US [...]
Google joins the list of firms deserting Saudi conference over missing journalist October 16, 2018 Google became the latest name in a long list of high-profile companies to drop out of an investment conference in Saudi Arabia late last night, amid building criticism of the state's handling of a missing journalist. A well-known critic of Saudi Arabia's policies, US resident and Washington Post journalist Jamal Khashoggi was last seen entering [...]
Finance chiefs desert Saudi business summit as backlash to missing journalist intensifies October 16, 2018 The global boycott of a high-profile Saudi investor conference gathered pace yesterday as the bosses of JP Morgan, Ford, Blackstone and BlackRock led an executive exodus following the disappearance of journalist Jamal Khashoggi. The US resident and critic of the Saudi government has not been seen since entering the Saudi consulate in Istanbul on 2 October. [...]
JP Morgan boss Jamie Dimon latest to pull out of Saudi investor conference October 15, 2018 JP Morgan boss Jamie Dimon and Ford chairman Bill Ford have pulled out of a Saudi investor conference as political tensions surrounding missing journalist Jamal Khashoggi rumble on. US President Donald Trump said he would immediately send his Secretary of State Mike Pompeo to meet the Saudi King Salman, after the Kingdom denied any knowledgeof Khashoggi's [...]