Author: Arabian Media staff
When €19bn software group Visma last month chose London as the venue for its future initial public offering, it signalled a success for the UK capital in more ways than one. The decision was an obvious boost for the UK’s beleaguered capital markets, where IPOs have become vanishingly rare — let alone ones of multibillion-pound tech companies. However, it was also a milestone for Visma’s British backer, Hg: the London-headquartered private equity firm that has quietly built itself into a specialist software investor and is on track to surpass $100bn in assets under management this month. That is bigger than…
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Good morning. Donald Trump announced a trade deal with Indonesia yesterday. Indonesia will be hit with a 19 per cent tariff on exports to the US — the initial threat was 32 per cent — and in return it will buy American oil, aeroplanes and farm goods. This is the closest thing to a real agreement since the deal with Vietnam. But neither Vietnam nor Indonesia have confirmed Trump’s claims. Should we buy them? Email us: unhedged@ft.com. InflationBoth headline and core inflation picked…
Deutsche Bank chief executive Christian Sewing has become embroiled in a €152mn lawsuit that alleges he was involved in a decade-old cover-up of financial crisis-era transactions.A new civil case in Germany brought against Deutsche by Dario Schiraldi, a former senior banker, claims that Sewing presided over a flawed internal audit which formed an important part of the evidence used to convict Schiraldi in Italy in 2019.Schiraldi’s conviction was overturned in 2022 and he is seeking damages for alleged harm to his career caused by the criminal proceedings and outcome. Five other Deutsche bankers convicted and then acquitted in Italy are…
The enormous US deportation programme is enriching companies as detainees complain of poor treatment Source link
Image: Supplied With its pristine beaches, Swahili culture, and rising appeal as a luxury destination, Zanzibar is positioning itself as a leading player in sustainable tourism. In this exclusive interview with Gulf Business, Mudrick Ramadhan Soragha, Minister of Tourism of Zanzibar, outlines the island’s vision for high-value, low-impact tourism, discussing everything from strategic partnerships with Gulf nations and rising GCC visitor numbers to eco-resorts, cultural conservation, and a new digitally enabled airport terminal. Zanzibar is gaining attention as a premium beach and cultural destination. How is your tourism strategy balancing luxury development with the need to preserve the island’s natural…
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Consumers involved in landmark “no-win, no-fee” legal claims against Britain’s biggest banks over mis-sold car loans may be charged as much as £175 an hour if they withdraw from the lawsuits.Claimants in cases against Lloyds, Barclays, Close Brothers, Santander UK and other lenders could be hit with significant “exit fees” by law firms and claims management companies (CMCs) if they pull out of their case more than two weeks after joining. While “no-win, no-fee” promises — where a claimant only pays a…
Stay informed with free updatesSimply sign up to the Agriculture myFT Digest — delivered directly to your inbox.Brussels will propose that fruit, vegetable and milk in schools should be “Made in Europe” as part of a wider push to favour domestic industries from defence to agriculture.The European Commission will say on Wednesday that milk, fruit and vegetables bought through its schools scheme should be produced in Europe, in a signal to schools to buy more locally, according to a draft proposal seen by Financial Times. The scheme funds about €220mn worth of produce per year.The “Made in Europe” clause reflects…
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.A dispute between the government of Vietnam and renewable energy developers over subsidies is threatening to disrupt power supplies, a move that could hit manufacturers that have moved to the country in droves from China.Vietnam has become a critical link in global supply chains in recent years as manufacturers, including Apple, Samsung and Intel, relocated as part of a “China plus one” strategy to hedge their operations against geopolitical risk. But the country’s electricity supply has struggled to keep pace with a…
One scoop to start: Brandon Lutnick, son of US commerce secretary Howard Lutnick, is nearing a roughly $4bn deal with an early bitcoin supporter to buy billions of dollars in the digital tokens using a vehicle backed by Cantor Fitzgerald.And another thing: Securities and Exchange Commission head Paul Atkins has pushed out the chief US audit regulator, who came under fire for imposing tougher sanctions on big accounting firms during her tenure.Welcome to Due Diligence, your briefing on dealmaking, private equity and corporate finance. This article is an on-site version of the newsletter. Premium subscribers can sign up here to…
General Motors is under pressure to clarify its plans for the future of a key manufacturing hub in South Korea, as the country’s trade talks with the Trump administration to mitigate steep car tariffs remain unresolved. GM Korea’s two carmaking plants produce affordable compact vehicles, principally for the North American market, accounting for nearly 17 per cent of the group’s US vehicle sales. That puts the Detroit auto company at the heart of Donald Trump’s trade war, with executives counting on Washington to strike a deal with Seoul that would lower a 25 per cent tariff imposed in April. If…