‘Serious First Amendment issues’: Tesla CEO Elon Musk’s lawyers slam SEC’s latest attack on tweets March 12, 2019 Lawyers for Elon Musk say that the US financial regulator's claims that the Tesla chief executive violated a previous settlement by posting a tweet has serious implications for First Amendment issues. Read more: Regulator accuses Elon Musk of misleading investors with new Tesla tweet The Securities and Exchange Commission (SEC) had asked a New York [...]
“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 [...]
Two rules to rule them all: Watch out for companies with dual class shares March 6, 2018 Despite the relentless push towards corporate governance, one trend is going against the tide, threatening the old rule: “one share, one vote”. Regulators are rethinking their rules by letting firms issue controversial dual class shares. Companies that adopt this structure will issue two types of shares to give preferential rights to one set of [...]
Shutterstock CEO Jon Oringer on putting profit first and selling his billionth image | City A.M. April 9, 2018 Many moons ago, there was a game called GoogleWhack. The objective was to return only one hit from a Google search query consisting of just two words. Naturally, with billions of pages indexed, it’s quite tough, and today, probably impossible. I propose a new, but similar, game using Shutterstock. Type in any two words, and [...]
Pret a Manger brushes off Jollibee takeover rumours | City A.M. September 19, 2017 Pret a Manger intends to push ahead with its plans for a possible float on the New York Stock Exchange despite speculation a multi-billion-dollar Filipino business is eyeing a takeover bid for the coffee and sandwich chain. City A.M. understands that Jollibee and Pret have not been in contact with each other on the potential [...]
Spotify is a sure hit as it pursues New York initial public offering January 31, 2018 With Spotify reportedly planning on floating on the New York Stock Exchange this spring, it’s a good time to look at how consumers view the brand in the UK. The music streaming service’s impact and growth over the past decade is impressive, all the more so as there haven’t been many global internet successes out [...]
New York Stock Exchange owner ICE told to sell London-based Trayport by UK competition watchdog October 17, 2016 The UK’s competition watchdog has ruled that US company Intercontinental Exchange (ICE) must sell London-based commodities trading software house Trayport. ICE, the owner of the New York Stock Exchange, bought Trayport last December for $650m (£534m), beating rival CME Group to the deal. Read more: ICE questions UK competition watchdog concerns over Trayport takeover In [...]
C: Citi shares rise after it takes humongous $22bn Trump tax hit but beats underlying earnings expectations January 16, 2018 Citigroup today announced an enormous $22bn (£16bn) charge from Donald Trump’s tax changes which pushed the US bank to its first loss since 2009, but distracted from otherwise above-expectations results. Banks with earnings overseas have been forced to account for a fundamental change to the way in which the US taxes profits. A tax credit [...]
Full stream ahead: With Spotify opting for an unusual IPO route, should investors be wary? March 20, 2018 Spotify, the streaming giant that prides itself on helping people discover music, is about to go public. The company plans to list on the New York Stock Exchange on 2 April, but it’s doing things differently – opting for a direct listing instead. This means that, instead of issuing shares, the private investors and [...]
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 [...]