Deliveroo IPO, Jamie Dimon Threat Stokes Concern in London – Bloomberg
“The food delivery Deliveroo initial public offering should have been a beacon to lure tech firms against competition from New York and Hong Kong.”
“Instead, concerns over the company’s governance and the treatment of its riders combined to produce one of the worst market debuts in City history.“
JPMorgan’s Chief Executive Officer Jamie Dimon said last week
“For bankers in London, hopes for unhindered access to EU markets — via a process known as equivalence — have long gone”
” EU “has had, and will continue to have, the upper hand.””
““Paris, Frankfurt, Dublin and Amsterdam will grow in importance as more financial functions are performed there.””
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Brexit EU News: Deliveroo IPO, Jamie Dimon Threat Stokes Concern in London – Bloomberg — www.bloomberg.com The U.K.’s finance industry has taken a number of knocks in 2021
Rich Prepare for Next Lockdowns by Buying Homes With Everything – Bloomberg
“Tent-Ready Tennis Courts”
“In 2020, super-prime properties with tennis courts sold on average for 22% more than their court-less peers, according to Knight Frank research.”
Swimming Pools
“From 2015 through to the first three months of 2020 (before everyone knew what Covid-19 meant), about 26% of homes sold each quarter in Greenwich, Connecticut — one of the richest places in the U.S. — had a pool.”
“Indoor-Outdoor’ Rooms”
“Anna Czarnowska of Morpheus London, a high-end residential and hospitality design firm, says demand is rising for indoor spaces that have an outdoorsy vibe.”
“The accessibility of beaches and hikes often takes greater significance with residents increasingly more concerned about their health and living environment,” Robertson said.
“Multi-Generational Living”
“For the ultra-wealthy, having their near and dear close is now worth paying extra.”
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Real Estate: Rich Prepare for Next Lockdowns by Buying Homes With Everything – Bloomberg — www.bloomberg.com Resort-style luxury is in, whether that’s Instagram-worthy wine cellars or a penthouse bedroom that doubles as a garden.
AlJurf Gardens
A coastal community seamlessly integrated within the natural and raw beauty of AlJurf.
AlJurf Gardens harnesses nature’s raw beauty and combines it with refined heritage-inspired architecture and contemporary design to present a sanctuary of wellness and calm. Throughout the villa spaces, the refined and controlled raw beauty of nature is repeated in different scales, to showcase its exquisiteness across every typology of homes, gardens and courtyards.
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Find Out More About Living at AlJurf — al-jurf.jakk.me A coastal community seamlessly integrated within the natural and raw beauty of AlJurf. Welcome to your respite from city life. Welcome to your second home.
Billionaire Saudi Family Breaks Mold on Kingdom’s Secrecy – Bloomberg
“As the October public offering of BinDawood Holding Co. got underway, details emerged of some $76 million in previously undisclosed loans made by the Saudi company to family members. In a departure from the traditional secrecy associated with the kingdom’s family firms, Jeddah-based BinDawood revealed everything, put the IPO on hold and gave buyers the chance to take their money back.”
“As the loans were quickly repaid, the sale resumed and eventually raised about $500 million for the family, attracting $29 billion in bids along the way.”
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Billionaire Saudi Family Breaks Mold on Kingdom’s Secrecy – Bloomberg — www.bloomberg.com For Ahmad BinDawood, last year’s share offering in the eponymous Saudi grocery business was a chance to shape his legacy at the family firm he’s worked at since the age of eight, while cementing a $3.1 billion fortune built over the decades by his father and uncles.
Europe Is Heading Toward a New Financial Crisis – Bloomberg
“To ensure the viability of the common currency at the heart of the European project, the EU’s leaders will have to cooperate in ways they’ve so far resisted.”
“In 2012, European leaders agreed on what should have been a big part of the solution. They envisaged a full banking union, in which governments would take joint responsibility for supervising financial institutions.“
“The International Monetary Fund estimates that general government debt in the euro area will exceed 98% of gross domestic product by the end of 2021, up from 84% at the end of 2019.”
“Worse, individual countries’ obligations are accumulating on the balance sheets of their banks.”
“Aside from the financial risks they present, these sovereign exposures make banking union harder to achieve politically.“
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Europe Is Heading Toward a New Financial Crisis – Bloomberg — www.bloomberg.com Completing the EU’s banking union might be the only way to avoid the dreaded “doom loop.”
Crypto Exchanges Usher in Era of Round-the-Clock Stock Trading – Bloomberg
“Fractional shares and aftermarket trading are common features offered by U.S. brokerages, but for investors based outside of the U.S. the offerings provide ready access to the country’s $47 trillion stock market without having to jump through regulatory hoops or having to wake at odd hours to transact.”
“Binance serves many users around the world and we are very pleased to be able to help them participate in the equity market,” said Binance Chief Executive Officer Changpeng Zhao in a statement.”
Read more.
Crypto Exchanges Usher in Era of Round-the-Clock Stock Trading – Bloomberg — www.bloomberg.com
The era of round-the-clock stock trading is here if you know where to look.
Turkey’s missing $128bn triggers publicity campaign and police action
“The Republican People’s Party (CHP) said $128 billion of foreign reserves were used during former Finance Minister Berak Albayrak’s tenure to stabilize the Turkish lira.”
“Turkish President Recep Tayyip Erdogan said on Feb. 24 that the massive sum of money was channelled into the country’s fight against coronavirus.”
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Turkey’s missing $128bn triggers publicity campaign and police action | Arab News — www.arabnews.com ANKARA: Missing reserves of $128 billion from Turkey’s Central Bank has triggered a publicity campaign from the country’s opposition party demanding to know the money’s whereabouts and police action to stop the question from being asked. The Republican People’s Party (CHP) said $128 billion of foreign reserves were used during former Finance Minister Berak Albayrak’s tenure
Tracking Carbon Emissions Becomes Harder When Big Oil Isn’t Involved
“The fifth-largest multinational oil producer in the West had just inked a deal to sell everything it owned in Alaska.”
“The $5.6 billion sale would help reduce corporate debt, but that wasn’t the only boon. BP would be proudly shedding unwanted greenhouse gases, paving the way toward what would soon become its signature goal: zeroing out emissions by midcentury”
“Alaska’s North Slope, each barrel of oil that BP extracted had double the average emissions from its portfolio, according to one third-party estimate.”
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Selling Its Alaskan Oil Business Was a Green Win for BP—Not the Planet — www.bloomberg.com
BP sold its Alaskan oil business as a big step towards a greener future. But the CO₂ emissions under the new owner just didn’t disappear. Production rose, emissions increased and in many cases, it became harder to track.
Korea Workers Need to Make Space for Robots, Minister Says – Bloomberg
“To help with the transition of making space for Robots, the government is looking to expand its employment insurance program to 21 million people, or more than 40% of the population, by 2025.”
“Separately, the government is providing stipends for young people to encourage them to keep searching for work.”
“Automation and AI will change South Korea faster than other countries,” Minister of Employment and Labor Lee Jae-kap said in an interview Tuesday.”
Read more.
Korea Workers Need to Make Space for Robots, Minister Says – Bloomberg — www.bloomberg.com
South Koreans must learn how to work alongside machines if they want to thrive in a post-pandemic world where many jobs will be handled by artificial intelligence and robots, according to the country’s labor minister.