LVMH raising its Tiffany offer to 15,8 billion dollars

The French luxury group LVMH (LVMH) is raising its Tiffany (TIF) offer to 15,8 billion dollars, writes the Reuters and Financial Times. According to the news, the new takeover offer is close to 130 dollars a share. This would give the market value of Tiffany to 15,8 billion dollars including the 350 million net debt.

This new offer would mean that the LVMH would be able to have more information about the financials of Tiffany. On the other hand, they have not entered an exclusivity agreement.

The French luxury group LVMH is trying to expand to the US markets with the offer of the 1837 founded US company. Tiffany´s shares has been increasing during the talks and yesterday the closing was down 0,14 % to 123,33 dollars in New York.

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US Senate backing Hong Kong protesters

The US Senate has passed a bill to support the protesters in Hong Kong on Tuesday. The bill is also a signal that the violence in the streets of Hong Kong must be stopped.

The US and China are having trade talks and it is expected that the Hong Kong situation will be integrated to the US  China trade deal. The months long demonstrations in Hong Kong have become more violent during the recent weeks.

 

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Brexit: Leaders tv-talk – no news

The UK Brexit tv-talk with the leading politicians, the Prime Minister Boris Johnson and the Labour leader Jeremy Corbyn did not revealed anything big surprises. Related to Brexit, the main difference was clear in the ITV´s tv-debate on Tuesday.

Prime Minister Boris Johnson repeated that the Conservatives want a quick Brexit deal while the Labour leader Boris Johnson said the party would like to have another referendum. This could also mean that the party might be able to cancel the years long Brexit agreement.

One of the topics was also the national health system, NHS and the funding around it. The parties have different views about the future of the NHS.

Prime Minister canceled on Monday the planning of the lower corporate tax saying the funds will be forwarded to the refinancing of the NHS. The corporate tax will stay at 19 %, the PM said.

The Labour Party has said earlier that they would like to create a state-owned drug company to keep medicine prices down.

Both leaders were on Monday at the CBI (Confederation of British Industry) event and Jeremy Corbyn said that the Labour Party would like to nationalise the railways, electricity companies, water companies and the Royal Mail.

The polls after the tv presentation showed that the gap between the parties have become smaller and the Tories will lead by 51 % of votes and the Labour 49 %. The poll was made by YouGov tonight.

The UK will have the general elections on the 12th December and if no majority or alliance could be made, the UK could be heading to second election in 2020.

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Ralph Lauren family sold shares worth 7,9 million dollars

The US design and fashion house Ralph Lauren´s (RL) owners, the Ralph Lauren Family, has sold over 71.000 company A common stocks with the price difference of 111,31 – 112,49 dollars on Thursday 14th. The stocks were worth of 7,9 million dollars.

The information is based on the SEC filing. Today the company shares are trading at 110,43 dollars, down 2,58 % in New York.

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Easyjet to offset all carbon emissions

The UK budget carrier Easyjet (EZJ) is the first carrier to offset carbon emissions from all of its flights. According to the company, Easyjet has long-term targets in mitigating climate change and since 2000 the company has reduced its emissions per passenger kilometre by over 33%.

Easyjet is investing 25 million pounds in projects that help to offset carbon. According to Bloomberg, these include for example the top-rated projects like planting trees, increasing energy-efficiency and building water wells.

For longer-term development the company is co-operating with Airbus, Rolls Royce and Safran to develop new technologies for flying. This include for example the research related to electric aircraft. Easyjet is also committed to the use of sustainable aviation fuels (SAFs) as they will be more commercially available.

Easyjet was trading up 5,3 % to 1344,50 pounds in London today. The market cap of the carrier is 5,3 billion pounds.

 

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Saudi Aramco IPO between 1,6 -1,7 trillion dollars

The Saudi Aramco IPO moved forward on Sunday with the information that the company valuation would be between 1,6 – 17, trillion dollars. According to the news, Aramco is selling 1,5 % of its shares in this IPO with the price range on 30 – 32 riyals per share.

The oil company is expected to raise new capital between 24 – 25,6 billion dollars and would then be the world biggest IPO ever.  This could beat the Chinese e-commerce Alibaba IPO which was 25 billion dollars in 2014.

It is expected that this IPO will be popular among the retail investors in Saudi Arabia and they are offered 0,5 % of the company. Institutional investors can subscribe until December the 4th.

The shares will not be offered in Japan, Canada or the US. Aramco is listing the shares in Riyadh Stock Exchange.

Aramco´s IPO is one of the biggest before the Christmas time and closing for the year. The Chinese Alibaba is also trying to arrange its second listing in Hong Kong Stock Exchange this year.

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Facebook to move to Hudson Yards, New York

The US tech company Facebook (FB) is increasing its presence in New York. The company has agreed to rent three towers totalling 139.000 m2 in the three developing buildings in the west side area of Manhattan, Hudson Yards. According to the information, the employees are moving already next year to the new offices.

The Hudson Yards has got several real-estate certifications for its sustainable buildings, materials and public transport. The area has already Leed Platinum for Hudson Years 10 and the Eastern Yards has got Leed- Neighborhood Development Gold (Leed ND).

The area is expected to gain more than 20 million visitors annually.  The area is having over 14 acres of public plazas, gardens and over 100 different shops and high-end retailers. The shops include for example luxury brands like Dior, Tiffany and Watches of Switzerland.

Facebook shares closed down 0,02 % to 193,15 dollars in New York on Thursday.

 

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