Emma Walmsley, the first woman to lead a major pharmaceutical company, will step down as CEO of GSK on December 31 after over eight years, with Luke Miels set to succeed her. Despite strategic successes like spinning off Haleon, GSK's share performance has been underwhelming, with only modest growth and a significant decline since Walmsley's appointment.
Glencore has decided to keep its stock listing in London after a review, citing insufficient value in moving to the US despite potential benefits, amid its recent financial losses and strategic considerations. The company remains committed to the London market, with future review possibilities, and highlights the complexities of cross-border listings and their implications.
London Stock Exchange Group is considering implementing 24-hour trading to meet increasing demand from small investors, with discussions ongoing about the technological and regulatory aspects of such a move, amidst a broader trend of global exchanges extending trading hours.
Ashtead, a major equipment hire firm, plans to move its primary stock listing from the London Stock Exchange to the US, citing its significant North American operations and the desire to attract US investors. This move is part of a trend of large companies shifting away from the UK market, raising concerns about the UK's investment appeal. Despite the relocation, Ashtead will maintain a UK listing and continue its investment plans in the UK. The decision comes amid lower-than-expected profits due to US market conditions and follows criticism over executive pay.
Bill Ackman plans to delist Pershing Square Holdings from Euronext Amsterdam, focusing solely on the London Stock Exchange due to higher trading volumes and ethical concerns about Amsterdam's treatment of tourists and minorities. Ackman also aims to move Universal Music Group's listing to the US to enhance liquidity and market presence, leveraging Pershing Square's contractual rights to facilitate this transition by next year.
Fast fashion giant Shein is preparing for a potential IPO in London, which could value the company at around £50 billion ($64 billion) and raise over £1 billion ($1.3 billion) from new shares. This move could revitalize the London Stock Exchange, which has seen several companies leave for other markets. Shein initially aimed for a New York listing but faced political opposition in the US. The UK Labour Party has expressed support for companies like Shein investing in Britain, emphasizing the need for high regulatory standards.
Shein, the Singapore-based online fashion giant, is expected to file for London's largest ever IPO, valued at over $63 billion, after facing obstacles in the U.S. due to political tensions. The move would significantly boost the London Stock Exchange, though it faces scrutiny over labor rights and environmental issues. Both current UK government officials and opposition leaders have shown support for the listing.
Chinese fast fashion giant Shein is planning to list shares on the London Stock Exchange, potentially valuing the company at $66 billion. This move comes as Shein faces scrutiny in the US over its business practices and links to China. The company has been criticized for its environmental impact and alleged use of forced labor. Shein recently launched a resale platform in France to improve its green credentials and plans to expand it to the UK and Germany. The UK listing could boost London's financial market, but the company may face regulatory challenges.
Online fashion firm Shein is preparing to file a prospectus with Britain's Financial Conduct Authority for a potential London IPO valued around 50 billion pounds ($63.70 billion), following regulatory challenges in the U.S. Shein is addressing governance and compliance concerns amid scrutiny from British lawmakers.
Online fashion firm Shein is preparing to file a prospectus with Britain's Financial Conduct Authority for a potential London IPO valued around 50 billion pounds ($63.70 billion), following regulatory challenges in the U.S. British lawmakers are also scrutinizing Shein's suitability for the listing.
Bitcoin briefly surpassed $71,000, driven by new institutional product offerings and demand from traditional desks. The London Stock Exchange approved a marketplace for trading BTC and ETH exchange-traded notes, leading to strong upside momentum for BTC. Projects linked to Coinbase Ventures recorded the most gains, with an average 10% increase, while the broader CoinDesk 20 index rose 4.47%. Despite waning ETF inflows, market analysts are not concerned, as long-term investors may have partially profited from their positions.
The London Stock Exchange has been given approval by the FCA to accept applications for Bitcoin and Ethereum exchange-traded notes (ETNs) for professional investors, marking a new market segment in the UK. Unlike spot Bitcoin exchange-traded funds in the US, ETNs are classified as debt securities and provide exposure to the assets. This move comes amid slow crypto adoption in the UK, despite Prime Minister Rishi Sunak's desire to make the country a "crypto hub." The FCA's openness to crypto investment products signals a potential shift in regulatory stance.
The London Stock Exchange (LSE) has announced its decision to accept applications for the admission of Bitcoin and Ethereum Exchange Traded Notes (ETNs) starting in the second quarter of 2024, following the UK’s Financial Conduct Authority (FCA) decision to allow crypto asset-backed exchange-traded notes. The LSE has outlined stringent requirements for the admission of these crypto ETNs, emphasizing physical backing, non-leveraged structures, and the necessity for reliable and publicly available market prices for the underlying crypto assets. The initiative is designed exclusively for professional investors and represents a controlled expansion into the Bitcoin and crypto sector within a strict regulatory framework.
