12 August 2019 - 18 August 2019

14th August 2019
Elizabeth Warren

Elizabeth Warren’s “Stop Wall Street Looting Act”

US democrat Elizabeth Warren recently published a piece of draft legislation titled the “Stop Wall Street Looting Act”, which mentions making private equity firms responsible for the debts of the companies they own. Impact on Businesses and Law firms Such a proposal is not within the scope of mainstream Democratic or Republican thought and is unlikely to become law. Nonetheless, it feeds into the debate surrounding the ethics […]
14th August 2019
Primakov / Shutterstock.com

Apple Begins Release of its New Apple Card

Last week Apple and Goldman Sachs quietly released their new Apple Card to a select few customers who had registered interest in the product previously. Apple Card is a virtual credit card working through Apple Pay, offering up to 3% cash back. While virtual, consumers can request a heavy-weighted titanium physical card. The product is supported by Goldman (and Mastercard, who is in charge of managing transaction data, […]

5 August 2019 - 11 August 2019

7th August 2019
The falling pound

The Falling Pound

Before Boris Johnson’s premiership, there were fluctuations in the value of sterling to the euro dependent upon Brexit developments, but it did hover against the euro at around €1.16. Johnson’s willingness to accept a no-deal Brexit has spurred the further depreciation of the pound which has now lost 4% against the US dollar since the start of July, just €1.09 against the euro at the time of writing. […]
7th August 2019

GlaxoSmithKline and Pfizer’s Consumer Health Merger

Last Thursday, GlaxoSmithKline (GSK) announced the completion of its £10 billion pound transaction with Pfizer to combine their consumer health care businesses into a world-leading over-the-counter (OTC) business. Under the agreement, GSK will have a controlling equity interest of 68% whilst Pfizer holding will have an equity interest of 32%. The venture will combine GSK’s consumer health brands, such as Sensodyne and Panadol, with Pfizer’s Centrum and Advil. […]
7th August 2019
US Federal Reserve

Managing Interest Rates in Uncertain Times

Last week, the Federal Reserve announced it was reducing interest rates by a quarter-percentage point. It’s the first time the US central bank has cut rates since the 2008 financial crash. Impact on Businesses and Law firms It might seem strange that the Fed is cutting rates even though the US economy is doing well. There are two reasons for the Fed’s pivot. First, interest rates are being […]
7th August 2019
Saudi Arabia Vision 2030

Saudi Arabia’s Sovereign Wealth Fund Investing in Babylon Health

Last week, it was announced that Saudi Arabia’s sovereign wealth fund, the Public Investment Fund (PIF), is investing $550 million in the health start-up Babylon Health. Babylon Health is a UK based start-up, which has developed a chatbot that checks the symptoms of patients and provides a remote consultation service with doctors via text and video messaging. Its chatbot is currently being used by the National Health Service. […]
7th August 2019
Hong Kong Protests

Enduring Hong Kong Protests Begin to Add to Economic Uncertainty

With Hong Kong’s protests now into their third month, the economic implications are becoming increasingly explicit. The demonstrations began in opposition to an extradition bill proposed by Carrie Lam’s government which is thought to put Hong Kong residents under the authority of the mainland Chinese courts, undermining the ‘one country, two systems’ agreement. Excessive force by the Hong Kong police, as well as violence by apparent pro-Beijing men […]
7th August 2019
London Stock Exchange

The London Stock Exchange Group’s Proposed Acquisition of Refinitiv

The London Stock Exchange Group (LSEG) confirmed it has agreed on terms to acquire Refinitiv in a US$27 billion all-share transaction. Refinitiv, which is currently owned by Blackstone and Thomson Reuters, is one of the world’s largest providers of financial markets data and infrastructure. The deal would make the LSEG – best known for running stock exchanges and clearing derivatives – a leader in market data and analytics, […]

29 July 2019 - 4 August 2019

31st July 2019
WeWork IPO

WeWork’s earlier than expected September IPO

The technology start-up providing shared workspaces is planning to go public in September, the Wall Street Journal reports. WeWork is meeting with Wall Street banks to help advise upon their IPO, after confidentially filing with US securities regulators last year. Meanwhile, WeWork is also trying to raise up to $6 billion through an asset-backed loan to ease the pressure on their IPO. There is controversy surrounding WeWork, with […]