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February 19, 2020
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Reuters - Business

Thyssenkrupp shortlists buyout firms for elevator unit, Kone out

Reuters
FRANKFURT/DUESSELDORF, Germany (Reuters) – Germany’s Thyssenkrupp (TKAG.DE) has shortlisted two private equity consortia in the sale of its 16 billion euro ($17 billion) elevator unit, dealing a blow to Finland’s Kone (KNEBV.HE), which withdrew from the closely watched deal. Logo is displayed in an elevator at the KONE Academy of......
Reuters - Business

Kone out as Thyssenkrupp shortlists private equity for elevator division

Reuters
FRANKFURT (Reuters) – German conglomerate Thyssenkrupp (TKAG.DE) said on Monday it has shortlisted two private equity consortia in the sale of its 16 billion euro ($17.3 billion) elevator division, dealing a blow to Finland’s Kone (KNEBV.HE), which withdrew from the closely watched deal. Logo is displayed in an elevator at......
Reuters - Business

Italian fashion brands Liu Jo and Blumarine aim for IPO within two years

Reuters
FILE PHOTO: A model presents a creation by Blumarine during the Milan Fashion Week in Milan, Italy February 22, 2019. REUTERS/Alessandro Garofalo/File Photo MILAN (Reuters) – The holding company of Italian fashion brands Liu Jo and Blumarine aims to list on the stock market within two years, chief executive and......
Reuters - Business

Exclusive: Thyssenkrupp-Kone elevator merger would trigger legal war – Schindler

Reuters
FRANKFURT/DUESSELDORF, Germany (Reuters) – Swiss elevator maker Schindler (SCHP.S) would embark on an all-out antitrust offensive in the courts to stall any deal to combine Thyssenkrupp’s (TKAG.DE) lift division with rival Kone (KNEBV.HE), board member Alfred Schindler told Reuters. FILE PHOTO: Thyssenkrupp’s elevator test tower is pictured in Rottweil, Germany,......
Reuters - Business

Japan’s MUFG, Mizuho in London rehiring spree despite Brexit

Reuters
LONDON (Reuters) – Japan’s MUFG (8306.T) and Mizuho (8411.T) have hired a total of nearly 100 staff in London in the last 6 months, bolstering their trading and investment banking teams despite industry concerns over Brexit’s impact on financial services in Britain. FILE PHOTO: The full moon is seen rising......
Reuters - Business

Bankers in Asia brace for a virus-related deal drought

Reuters
HONG KONG/SINGAPORE (Reuters) – Bankers in Asia are bracing for a deal drought as efforts to limit the spread of the coronavirus epidemic have put key meetings and roadshows on hold. FILE PHOTO: A woman wearing a face mask crosses a road after the extended Lunar New Year holiday caused......
Reuters - Business

With Tesla stock envy, GM hopes to sell investors on its EV, tech future

Reuters
DETROIT (Reuters) – General Motors Co (GM.N) has watched with frustration and envy as the market value of electric carmaker Tesla Inc (TSLA.O) has ballooned to more than triple GM’s size, but Wednesday the Detroit automaker is expected to make the case that its EV and self-driving technology strategy deserves......
Reuters - Business

U.S. banks on Hong Kong Exchange’s ‘named and shamed’ list

Reuters
HONG KONG (Reuters) – Wall Street investment banks JPMorgan (JPM.N) and Morgan Stanley (MS.N) have been placed on the Hong Kong Stock Exchange’s “named and shamed” list after the $300 million initial public offering (IPO) of Chinese biotech company Akeso Inc. was sent back for not meeting the correct regulatory......
Reuters - Business

WeWork inks office space deal with SoftBank-backed Gympass: sources

Reuters
NEW YORK (Reuters) – WeWork has signed a deal to provide space to 250 employees of gym membership app company Compass in New York, the latest example of the U.S. office-sharing start-up’s majority owner, SoftBank Group Corp, using its connections to buoy its business, people familiar with the matter said......
Reuters - Business

SoftBank-backed CloudMinds slashes workforce amid cash burn: sources

Reuters
FILE PHOTO: The CloudMinds XR-1 robot performs for the visitors at the Mobile World Congress in Barcelona, Spain February 25, 2019. REUTERS/Rafael Marchante/File Photo TOKYO (Reuters) – SoftBank-backed cloud robotics and artificial intelligence startup CloudMinds is slashing its workforce as it burns through cash after repeated attempts to list on......
Reuters - Business

Goldman Sachs to companies: Hire at least one woman director if you want to go public

Reuters
NEW YORK (Reuters) – From June 30, Goldman Sachs Group Inc (GS.N) will only help take a company public if it has at least one diverse board member, as such companies perform better after listing, Chief Executive David Solomon said on CNBC on Thursday. FILE PHOTO: The ticker symbol and......
Reuters - Business

Goldman CEO says process on canceled WeWork IPO ‘worked’

Reuters
DAVOS, Switzerland (Reuters) – Goldman Sachs Chief Executive David Solomon called WeWork’s abandoned initial public offering (IPO) a great example of the listing process working on Tuesday, even if was “not as pretty as everybody would like it to be”. Goldman Sachs’ Chairman and CEO David Solomon attends a session......
Reuters - Business

Exclusive: China’s Ant aims for $200 billion price tag in private share sales – sources

Reuters
HONG KONG/BEIJING (Reuters) – Ant Financial [ANTFIN.UL] shares are being offered privately at levels which value the Chinese financial giant at $200 billion, two people with knowledge of the discussions said, lifting it up the ranks of the most valuable unlisted companies. FILE PHOTO: Employees are seen at the reception......
Reuters - Business

JPMorgan first major brokerage to rate Saudi Aramco ‘overweight’

Reuters
FILE PHOTO: Participants attend the official ceremony marking the debut of Saudi Aramco’s initial public offering (IPO) on the Riyadh’s stock market, in Riyadh, Saudi Arabia, December 11, 2019. REUTERS/Marwa Rashad DUBAI (Reuters) – JPMorgan (JPM.N) is the first major brokerage to initiate coverage of Saudi Aramco (2222.SE) with an......
Reuters - Business

JPMorgan profit gets boost from trading, underwriting

Reuters
FILE PHOTO: A view of the exterior of the JP Morgan Chase & Co. corporate headquarters in New York City May 20, 2015. REUTERS/Mike Segar/Files (Reuters) – JPMorgan Chase & Co (JPM.N), the largest U.S. bank, posted a 21% rise in quarterly profit on Tuesday, driven by strength in its......
Reuters - Business

Saudi Aramco raises IPO to record $29.4 billion by over-allotment of shares

Reuters
FILE PHOTO: The logo of Saudi Aramco is seen at Aramco headquarters in Dhahran, Saudi Arabia May 23, 2018. Picture taken May 23, 2018. REUTERS/Ahmed Jadallah/File Photo DUBAI (Reuters) – State-owned oil company Saudi Aramco said on Sunday it had exercised its “greenshoe option” to sell an additional 450 million......
Reuters - Business

Saudi Aramco raises IPO to record $29.4 billion through greenshoe option

Reuters
DUBAI (Reuters) – State-owned oil company Saudi Aramco said on Sunday it has exercised its “greenshoe option” to sell an additional 450 million shares, raising the size of its initial public offering (IPO) to a record $29.4 billion. FILE PHOTO: The logo of Saudi Aramco is seen at Aramco headquarters......
Reuters - Business

Saudi Aramco shares hit lowest since IPO, down 1.7%

Reuters
FILE PHOTO: A view shows branded oil tanks at Saudi Aramco oil facility in Abqaiq, Saudi Arabia October 12, 2019. REUTERS/Maxim Shemetov DUBAI (Reuters) – Shares of Saudi Aramco were down 1.7% in late afternoon trade on Sunday, hitting 34.55 riyals ($9.21) per share, its lowest level since it started......
Reuters - Business

Exclusive: China halts British stock link over political tensions – sources

Reuters
HONG KONG/LONDON (Reuters) – China has temporarily blocked planned cross-border listings between the Shanghai and London stock exchanges because of political tensions with Britain, five sources told Reuters. FILE PHOTO: A worker adjusts British and China (R) national flags on display for a signing ceremony at the seventh UK-China Economic......
Reuters - Business

Indian IPOs fall to four-year low as economy falters

Reuters
(Reuters) – Indian initial public offerings tumbled to a 4-year low by value in 2019 as the economy slowed, but some analysts are hoping for better in 2020 on the back of potential government reforms likely to boost stock markets. FILE PHOTO: A broker reacts while trading at his computer......

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