ApprovedBusinessBusiness and finance

General Motors is getting smaller but more profitable

THE headquarters of General Motors (GM) tower over the other skyscrapers in Detroit’s city centre, a reminder that the carmaker still rules the American market. Yet GM’s domestic might increasingly contrasts with its position elsewhere in the world. Although most other carmakers see becoming ever bigger everywhere as the answer to the industry’s multiple challenges, GM is in retreat.

It, too, long vied with the world’s largest carmakers for the global crown. Along with Volkswagen, Toyota and Renault-Nissan, it made around 10m cars last year. Investors have been unimpressed. Although GM had record profits in 2015 and 2016 and has performed solidly this year, its share price has barely budged since its IPO of 2010, after the financial crisis had forced it into bankruptcy.

Such is the frustration that Greenlight Capital, a hedge fund with a 3.6% stake in GM, proposed splitting its shares into two classes—one keeping the current dividend and the other…Continue reading

Read more 0 Comments
ApprovedBusinessBusiness and finance

The prospects for the world’s biggest IPO

THE proposed sale of 5% of Saudi Aramco is not just likely to be the biggest initial public offering (IPO) of all time. “It’s like Gibraltar selling the rock,” as one expert on Saudi Arabia’s oil policy puts it. The world’s biggest oil company keeps the House of Saud in power, bankrolled 60% of the national budget last year, and is a paragon of efficiency in an economy otherwise mired in bureaucracy.

The elevation on June 21st of Muhammad bin Salman, the 31-year-old architect of the IPO, to crown prince is likely to add more momentum to a sale planned for the second half of 2018. The news will further sideline domestic critics of the IPO, some of whom wonder whether it would be better to borrow the money than sell the family silver. But the success of the IPO is not guaranteed. The tendency of MBS, as the prince is known, to micromanage the listing runs counter to the spirit of openness and liberalisation that he says he wants for Saudi Arabia. That could backfire on the IPO…Continue reading

Read more 0 Comments

Amazon Prime Gets You 50% off Razer Wildcat Controller for Xbox One, Windows 10 PC – Deal Alert

The Razer Wildcat controller is compatible with both Xbox One and Windows 10 PC. An elite level controller developed for tournament play with feedback from the best eSports athletes, it features four additional fully-programmable buttons for a personalized layout, a well thought out ergonomic shape and weight, reduced trigger travel distance for rapid fire, and much more. If you’re an Amazon Prime member, the typical list price has been reduced generously to just $74.99. If you’re not a Prime member but still want this deal, Amazon’s 30 day Prime free trial (signup page here) is quick to activate and gets you all of the same benefits with no financial commitment required (unless you decide to keep it). See this deal now on Amazon.

To read this article in full or to leave a comment, please click here

Read more 0 Comments