Travelex-owner Finablr to raise $200m in London listing April 16, 2019 The owner of foreign exchange company Travelex today announced its intention to raise $200m (£153m) in a float on the London Stock Exchange. United Arab Emirates-headquartered payments and foreign exchange business Finablr said it expects to raise $200m with plans for a free float of at least 25 per cent of the company. The company’s brands [...]
Citigroup results: Earnings trump expectations but revenue dips April 15, 2019 Citigroup sent mixed messages to Wall Street this afternoon after posting higher-than-expected earnings as well as declining revenues. Read more: Fearless girl statue comes to London Stock Exchange The New York giant’s share buybacks helped it post earnings per share of $1.87, trumping Refinitiv estimates of $1.80 per share and marking an 11 per cent improvement [...]
String of banks appointed as Travelex-owner Finablr weighs London float April 9, 2019 Payments company Finablr said today it was examining a London initial public offering (IPO) and had engaged a raft of top banks to act as underwriters and advisers. The United Arab Emirates-based company, which processed $114.5bn (£87.6bn) of payments in 2018, published a registration documents today and said it was weighing a $200m IPO. Read [...]
Pinterest’s valuation slips as it looks to raise $1.3bn in New York float April 8, 2019 Social media platform Pinterest plans to raise as much as $1.3bn (£995m) when it floats on the New York Stock Exchange this year. Pinterest will put 75m shares up for sale at its initial public offering (IPO), with a price tag of between $15 and $17 per share. Read more: Lyft IPO paves way for [...]
Morgan Stanley selected to steer Uber through $120bn IPO April 5, 2019 Morgan Stanley has reportedly been chosen to ensure Uber has a smooth ride through its initial public offering (IPO) after a string of volatile tech floats have set nerves jangling. The ride-hailing app has named the US investment bank as stabilisation agent for its eagerly-awaited IPO, Bloomberg reported, citing people familiar with the matter. Read [...]
Editors’ Notes: Philip Hammond outfoxes the Treasury committee in clash over end to austerity April 5, 2019 Three cheers for Philip Hammond! Yes, you heard that right – I may be alone, but I found myself applauding the chancellor last night when we got a sneak preview of his response to the Treasury Select Committee’s (TSC) fisking of the autumn Budget. Read more: Hammond says ending austerity will not mean spending splurge [...]
Goldman Sachs cuts the probability of a no-deal Brexit April 5, 2019 Goldman Sachs said today that the UK is less likely to leave the EU without a deal as cross-party talks continue. Economists at Goldman Sachs have said that they think the likelihood of the UK leaving the EU without a deal has fallen. Goldman Sachs’ number crunchers upped the chances of a modified version of [...]
PR agency Hanover snapped up by Canadian communications group Avenir April 3, 2019 Communications group Avenir Global has acquired London-headquartered public relations firm Hanover for an undisclosed sum. Hanover, which was founded in 1998 by John Major’s former press secretary Charles Lewington, posted revenues of £19m last year and has unveiled plans to double its size by 2022. Read more: Top financial PR firm cuts ties with Sir [...]
Amazon tops Linkedin list of top 10 companies to work for April 3, 2019 A list of the top 10 companies that are seen as most attractive for workers released by Linkedin this morning revealed a varied mix of preferences for job hunters in the UK. Amazon, which recently raised wages after coming under criticism for employment practices and warehouse conditions, took the number one spot, with firms such as [...]
Malaysia sells 1MDB-linked superyacht to casino operator for $126m April 3, 2019 The Malaysian government has sold a superyacht allegedly bought with money stolen from state fund 1MDB to casino firm Genting Malaysia Berhad for $126m (£95.6m). The 92m superyacht Equanimity is one of a number of assets allegedly bought by fugitive businessman Low Taek Jho with money embezzled from the fund, and the sale marks Malaysia’s [...]