WeWork is postponing IPO to October earliest – WSJ

The US office rental company WeWork is postponing its planned IPO untill October at earliest, says the Wall Street Journal.

According to the newspaper, the company has faced so many valuation concerns that the company is postponing the IPO.

In August WeWork indicated that the listing would be with 3-4 billion dollars. The company also informed about plans to raise debt up to 6 billion dollars.

The recent speculation about the unicorns techvaluation have raised some concerns about the market values in general and the corporate governance practises related for example privacy issues.

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New sport utility car from the UK? – FT

According to Financial Times, the UK may have a new sport utility car vehicle production, when one of the country’s richest man  Jim Ratcliffe is considering to start the production in Wales.

The newspaper says that the new factory would be in Wales where the US manufacturer Ford is closing its factory. It is expected that this would bring new jobs and new life to the UK automotive industry.

The auto sector is having 82 billion pounds turnover annually and the industry employs directly 186.000 people and over 850 000 indirectly. The UK auto export is about 12 % of the total export of the country.

 

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Hong Kong to make rival offer of London Stock Exchange – FT (updated)

The Hong Kong Stock Exchange is making a rival offer of London Stock Exchange, LSE. According to Financial Times, the deal would be worth of 32 billion pounds.

According to the Hong Kong Exchanges & Clearing Ltd CEO Charles Li they considered the offer for months. He says that the combination would be rationale for many reasons and one of them is the assets trading in euros, dollars and renminbi.

– First, LSEG is one of the most well-known, highly respected and successful exchange groups in the world. Based in London, it is a global offshore centre for Eurodollars. Likewise, HKEX is one of the top Asian exchange groups based in Hong Kong, the world’s leading offshore market for Renminbi. A combination of two markets of this size and significance has never been done before and would create a globally-connected exchange group that serves as the leading international platform for financial assets denominated in US dollars, Euro and Renminbi, the CEO Li says in his blog today.

The HKEX has offered 20,45 pounds a share in cash and 2,495 new HKEX shares, which would make a 23 % premium to LSE´s closing price yesterday, the Financial Times says. The shares of LSE are trading up about 8 % to 7368 pounds in London.

 

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Apple to integrate a new phone and content – Apple TV+

The US ecosystem provider Apple (APPL) has today announced the new iPhone 11 and news related to Apple TV service. The company is integrating the iPhone and tv content so that all new iPhone buyers get one year free tv stream from Apple.

– Customers who purchase any new iPhone, iPad, Apple TV, Mac or iPod touch starting September 10 can enjoy one year of Apple TV+ for free. Beginning November 1, customers can initiate the one-year free offer in the Apple TV app on the device running the latest software, the company said in the press release.Apple-tv-plus-launches-november-1-the-morning-show-screens-091019According to the iPhone launch the new iPhone 11 will cost 699 dollars and the Pro-model starting 999 dollars and iPhone 11 Pro Max 1099 dollars. The new models should be available from September 20th.

The Apple TV service will cost 4,99 dollars per month.

In Wall Street, the Apple news were taken positively and the company shares were trading up 0,11 %, while for example the other streaming service providers were down: Disney (DIS) shares were trading down  -2,71 % as well as Netflix (NFLX)  -3,52 %.

The general Dow Jones index was trading slightly down -0,14% and technology Nasdaq-index  -0,50%.

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US to tighten terror sanctions in the financial markets

The US is tightening terror sanctions in the financial markets. According to the Treasury Secretary Steven Mnuchin and the Secretary of State Mike Pompeo, the Trump Administration is tightening terror sanctions in the financial markets.

– The US is continuing to protect the US and the people from terrorist attacks. The Government has taken new actions related to terrorist organizations, regarding individuals and entities, in the financial markets, the Treasury Secretary Steven Mnuchin said today in the White House press conference.

The press conference was arranged due to the changes in the White House national security. According to the tweet by President Donald Trump he will name the new National Security Advisor next week while John Bolton resigned today.

 

 

 

 

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Tesla considering Germany as a new factory site

The US electric car manufacturer Tesla (TSLA) is considering Germany´s North Rhine-Westphalia as a possible factory site in Europe. According to Rheinische Post the company has had negotiations with the local authorities regarding the issue.

According to Bloomberg, Tesla has said that Germany would be the leading choice for the European Gigafactory.

North Rhine-Westphalia is the biggest state in Germany and in the middle of German industrial manufacturing sites. The local area capitol is Dusseldorf.

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