Steel billionaire Lakshmi Mittal’s son-in-law Amit Bhatia is a Snap investor and he expects the IPO to boom March 1, 2017 Snap's impending float will be mega successful, according to a London investor in the messaging app. Amit Bhatia, steel billionaire Lakshmi Mittal's son-in-law and founder of Swordfish Investments, took part in a funding round in 2014 that valued the company behind Snapchat at $10bn (£8.13bn). "Far from looking to exit at IPO, I would look to add to my [...]
Estée Lauder: The woman behind the brand May 2, 2017 Estée Lauder's story could have started on the stage. Before her head was filled with visions of making women beautiful, the woman who would revolutionise the cosmetics industry wanted to be an actress. But, the business of beauty pumped through her veins. Stage Gem Estée toyed with becoming an actress, as she believed that “actresses [...]
Deutsche Boerse exec warns US and China will dominate if London Stock Exchange merger is blocked November 24, 2016 A Deutsche Boerse executive has warned rival firms from the US and China will dominate if the German’s merger with the London Stock Exchange falls through. The exchanges are expecting a statement of objections to their tie-up from the European Commission next month and analysts remain doubtful the deal will complete. Read more: Stock exchanges [...]
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 [...]
Barclays chairman John McFarlane: Moving euro clearing away from London threatens global financial services December 6, 2017 Moving euro clearing away from London could send shockwaves across the global financial community, forcing up transaction costs and causing capital requirements headaches, one of world banking’s most influential voices has warned. Speaking at TheCityUK annual dinner at London’s Plaisterers’ Hall, chairman John McFarlane said Brexit in March 2019 is a reality that needs to [...]
The big winners from an Aramco listing will be the bankers March 13, 2018 Britain’s bankers and City advisors are very excited about the mooted flotation of Saudi Arabia’s state-owned oil company Aramco. The potential fees – and therefore bonuses – generated are likely to be astonishing. It will be trebles all round, as they say in Private Eye. However, as an investment proposition there may be less to [...]
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 [...]
Saudi Aramco refutes claims IPO to be shelved as the Investment Association objects to the bending of London listing rules October 15, 2017 Saudi Aramco has refuted reports that its planned float is set to be shelved. The group was addressing claims in the Financial Times over the weekend that the oil giant was considering shelving plans for an international listing in favour of a private share sale to the world’s biggest sovereign wealth funds and institutional investors. [...]
Good chemistry: Germany’s Linde and US firm Praxair agree terms of $65bn merger December 20, 2016 Two chemical giants are nearing a $65bn (£53bn) mega-merger. Germany’s Linde today said it had agreed a “non-binding term sheet” with US firm Praxair. Under the deal, a new holding company bearing Linde’s name would be created. But the firms said the deal would represent a “merger of equals”. It marks the second German-US mega-deal of [...]
Prominent investor group the International Corporate Governance Network (ICGN) adds forceful objection to FCA’s Saudi Aramco listing plans October 12, 2017 A prominent investor group has strongly objected to controversial plans to allow sovereign companies such as Saudi Aramco lower transparency requirements to list in London, with a consultation by the City watchdog closing tomorrow. Under the plans put forward in July by the Financial Conduct Authority (FCA), state-owned companies such as Aramco will qualify for [...]