Snap is trying to raise $3bn in an initial public offering that could be the largest US tech IPO in years, according to documents that provide the first glimpse inside the owner of the messaging app Snapchat. Evan Spiegel, 26-year-old co-founder and chief executive, will own a stake worth up to $5.5bn, if the company succeeds in its aim of going public with a valuation of up […]
Tableau published fourth quarter and end of year results after the bell on Thursday. The Seattle-based data visualization firm reported a net loss of $21.1 million, or 28 cents per share. Non-GAAP earnings were 26 cents per share on top of $250.7 million in revenue, up 24 percent year over year. Wall Street was expecting just 13 cents per share with revenue of $230.3 million. Tableau’s shares […]
President Trump’s mocking tweets about the “failing” New York Times and its “dwindling” subscriber base miss the boost his election and early days in office are giving the company’s business. CEO Mark Thompson stopped short today of saying Trump was the cause of a record 276,000 net quarterly growth in digital subscriptions in the last quarter of 2016 and a continued surge this month, bringing the Times’s […]
Nickel rose on Thursday, outpacing other industrial metals, as speculators rushed to close bearish bets after the Philippines pressed ahead with an environmental crackdown on domestic producers. Nickel for delivery in three months on the London Metal Exchange rose as much as $250 to $10,500 tonne after Manila ordered the permanent closure of mines that produce about 8 per cent of the world’s nickel supply. The metal […]
Saudi Aramco is likely to list its shares simultaneously on more than one exchange but this is still under evaluation, Energy Minister Khalid al-Falih said on Thursday. Asked by reporters if Aramco would list first on the Saudi bourse and then on another exchange abroad, Falih said: “It will probably be done concurrently, but we have not announced. We are evaluating. All our options are open.” The […]
02 February 2017 MARC has removed the ratings on WCT Holdings Berhad’s (WCT Holdings) RM1.0 billion MTN Programme and RM1.5 billion Sukuk Murabahah Programme from MARCWatch Developing. The ratings were placed on MARCWatch Developing on November 4, 2016 to enable the rating agency to reassess WCT Holdings’ business plan and the impact on its credit metrics following a major change in shareholders after the group’s founding members […]
Image: Rick Rycroft/AP/REX/Shutterstock/@JohnJohnsonson By Ariel Bogle2017-02-02 06:27:02 UTC Telstra probably hoped the hashtag #TelstraOutage would be left behind in 2016. Sorry honey, no such luck. On Thursday afternoon, Australia’s largest phone network went down for some users following a fire at a Chatswood exchange, which impacted mobile and fixed services. While the outage was genuinely disruptive, many could not resist making the joke of the day. And […]
TOKYO Asian shares inched up to four-month highs while the dollar was finding its feet on Thursday after the U.S. Federal Reserve stuck to its mildly upbeat economic view but gave no hint of accelerating rate hikes. While strong economic data from the United States and elsewhere have underpinned risk assets, uncertainty and concerns over U.S. President Donald Trump’s policies have markets on edge. “With many of […]
Reckitt Benckiser, the maker of household goods including Cillit Bang and Dettol, is in advanced talks to acquire Mead Johnson in a deal that could value the maker of infant formula at about $16.7bn. The British-based company said on Wednesday evening it had offered to pay $90 per share in cash to acquire the US nutritional products maker, a near 30 per cent premium on Mead Johnson’s […]
February 2, 2017 by: Hudson Lockett in Hong Kong Thursday 02.00 GMT Overview Stock markets were mixed in Asia after the US Federal Reserve left interest rates unchanged but hinted at further rises this year. The Australian dollar gained against its US counterpart on data showing a record trade surplus, while oil pared back some of Wednesday’s gains. Hot topic The Australian dollar gained 0.6 per cent […]
By Rodrigo Campos | NEW YORK NEW YORK The S&P 500 edged higher on Wednesday to cap a four-day losing streak, buoyed by gains in Apple shares and after the Federal Reserve kept U.S. interest rates unchanged, as expected. Apple (AAPL.O) shares rose 6.1 percent to $128.75, its highest close in a year and a half. This made it the biggest positive influence on the three major […]
Blackstone-backed Invitation Homes began trading on Wednesday above its $20 a share initial public offering, as investors latched on to positive signals in the property rental market. The Dallas-based real estate investment trust, which allows investors to buy and sell shares in a company that owns single-family rental properties, raised $1.54bn from its IPO on Tuesday, the largest public offering since mid-2015, according to Bloomberg data. However, […]
Lufthansa believes the rapid growth phase of Gulf airlines is coming to end, which could help to ease some of the pressure in a highly competitive industry, its chief executive said on Wednesday. Speaking after signing catering and maintenance deals with Abu Dhabi-based Etihad, Lufthansa CEO Carsten Spohr said there were signs Gulf rivals were reaching the limits of their recent growth. “I’ll leave that to the […]
China’s stock market regulator has accelerated approvals for initial public offerings in recent months but market watchers say that long-awaited deregulation of the process is still years away. IPO fundraising in Shanghai and Shenzhen has totalled Rmb87bn ($13bn) since November, the biggest three-month total since the second quarter of 2015, when China’s stock market bubble reached its height. The surge of new offerings reflects the relative stability of China’s […]
By Naomi Tajitsu and Maki Shiraki | YOKOHAMA, Japan YOKOHAMA, Japan Nissan Motor Co has taken a step back into gasoline hybrids with its Note e-Power model, which the Japanese automaker hopes will act as a gateway for drivers who will later shift to all-electric cars. The move will also trim Nissan’s costs. Nissan’s battery-electric Leaf, the industry’s first mass-market, all-electric car launched in 2010, is the […]
Wednesday 06:00 GMT Overview Stock markets across Asia were mixed after disappointing earnings and weak US data pushed Wall Street lower overnight. European bourses are expected to open higher, with spreadbetters predicting the UK’s FTSE 100 will add 34 points to 7,133 and Germany’s Dax to gain 70 points to 11,605. The rebound comes after Wall Street climbed sharply off its session lows on Tuesday, and index […]
Newsflash for American high school students — choose friends wisely, or they may end up costing you your education. In fact, new mathematical modeling from Arizona State University, Northeastern Illinois University, and the University of Texas at Arlington documents the exact statistical tipping point when positive parental influence — found to be the leading indicator of academic performance and whether or not a student will eventually graduate […]
Elliott Management, the activist investment group, has called for the removal of Klaus Kleinfeld as chief executive of Arconic, the specialist metals and components company created last year by the break-up of Alcoa, arguing that “current management’s persistent failure . . . has destroyed considerable shareholder value”. The fund manager, Arconic’s largest shareholder with direct control of 10.5 per cent of the group’s shares, and a further 1.6 per cent through […]
Apple returned to increasing revenue in the holiday quarter and said the growth rate could accelerate in the coming months, as iPhone sales rebounded strongly in North America, western Europe and Japan. However, despite forecasting revenues to grow as much as 6 per cent in the current quarter, its outlook fell just short of Wall Street’s estimates amid continuing sales declines in China and foreign currency headwinds. […]
Capital Group, one of the world’s biggest investment groups and a cornerstone backer of upstart stock exchange IEX, wants the incoming Trump administration to stymie high-frequency traders by overhauling one of the US equity market’s biggest but controversial regulatory planks. Matt Lyons, global head of trading at $1.4tn Capital Group, was a big supporter of the anti-HFT exchange made famous by Michael Lewis’s book Flash Boys, making […]
Written by Anees Jillani | Published:February 1, 2017 12:31 am Pakistani Prime Minister Nawaz Sharif (File Photo) Since January 4, a five-member Bench headed by the second seniormost judge of the Supreme Court of Pakistan has been hearing for three hours every day petitions alleging corruption by Prime Minister Nawaz Sharif, filed by the chairman of the Pakistan Tehreek-e-Insaaf (PTI) Imran Khan, and the head of the […]
By Liana B. Baker and Jessica DiNapoli U.S. brand management company Iconix Brand Group Inc (ICON.O) is exploring a sale of its majority stake in Peanuts Worldwide LLC, which owns the rights to cartoon strip characters Snoopy and Charlie Brown, according to people familiar with the matter. The move sent shares of Iconix up more than 5 percent. It comes three months after U.S. insurance company MetLife […]
The US stock market suffered its largest decline this year, alongside investors snapping up protection against a possible rise in volatility, pointing towards the nervousness over the recent rally. The S&P 500 dipped 0.6 per cent to 2,281, its biggest one-day fall since December 28. The Dow Jones Industrial Average was down 0.6 per cent to 19,971, while the Nasdaq Composite dropped 0.8 per cent to 5,614. […]
|By Arabian Post Staff| FGB, one of the leading banks in the UAE and the largest by market capitalisation, achieved a record group net profit of AED 6.03 Billion for the full year 2016, compared to AED 6.01 billion in 2015. Full year 2016 earnings per share amounted to AED 1.32, compared to AED 1.31 in 2015. Commenting on the results, Abdulhamid Saeed, FGB’s Managing Director and […]
