US firm withdraws from Gaza aid operation amid backlash
First the head of the Gaza Humanitarian Foundation resigned, saying the operation could not adhere to 'humanitarian principles'.
Now the Boston Consulting Group, which helped establish the US and Israeli-backed aid distribution mechanism, is also jumping ship.
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Reuters
27 minutes ago
- Reuters
UK Market Exodus: Companies that have moved away from a London listing
June 5 (Reuters) - British money transfer firm Wise (WISEa.L), opens new tab became the latest UK listed firm on Thursday to say that it intends to move its primary listing to the U.S. from London. A growing number of companies have shelved or shifted plans to list in London, due to investor pushback and Brexit-related challenges that have pressured UK market valuations. Instead, they have opted for the U.S. and other markets, where they see stronger appetite and higher valuations. Cobalt: The Glencore-backed metals investor scrapped its plans for a London IPO (IPO-COBL.L), opens new tab on Wednesday, which, according to one source, was driven by a lack of demand. The company, valued at around $230 million, would have seen London's largest market debut since Air Astana's ( opens new tab listing in February 2024. Indivior (INDV.L), opens new tab: The drugmaker said on Monday it will cancel its secondary listing on the London Stock Exchange effective July 25, citing cost savings and a desire to align more closely with its U.S.-focused operations. The 1.25 billion pound ($1.70 billion) pharmaceutical firm will retain its primary listing on the Nasdaq. BHP: The world's largest miner by market value ($125.10 billion) made Australia ( opens new tab its primary stock market when it ended its dual-listing structure in 2021. The company was the second largest by market value in London when it left the stock market. Unilever (ULVR.L), opens new tab: The Ben & Jerry's maker in February picked Amsterdam as the primary listing for its ice cream business. The business, which generated a turnover of 8.3 billion euros ($9.47 billion) in 2024, will have secondary listings in London and New York. Glencore (GLEN.L), opens new tab: The Swiss miner said in February it was considering moving its primary listing from London. The company, with a market value of 34.5 billion pounds, said New York was at the top of the list under consideration. Shein: The online fast fashion retailer is working towards a listing in Hong Kong after its proposed initial public offering (IPO) in London failed to secure the green light from Chinese regulators, three sources with knowledge of the matter told Reuters in May. However, before its attempt to list in London, Shein had pursued a listing in New York, as part of its efforts to gain legitimacy as a global, rather than a Chinese company, and access to a wide pool of large Western investors. Ashtead (AHT.L), opens new tab: The second-largest equipment rental company in the U.S. said in December it plans to shift its listing to New York. With a market value of 18.3 billion pounds, Ashtead has been listed in London since 1986, and transformed into a major U.S. player in the early 2000s. Just Eat Takeaway ( opens new tab: The Amsterdam-listed food delivery company delisted from the London Stock Exchange in December, citing efforts to reduce administrative and regulatory costs. The company has a market value of 4.05 billion euros. Flutter Entertainment (FLTRF.L), opens new tab: The FanDuel-owner in 2024 moved its primary listing to the New York Stock Exchange (NYSE), just a few months after it added a secondary listing in the US. CRH (CRH.N), opens new tab: The building materials solutions provider, which has $61.29 billion in market value, switched its primary listing to the NYSE in 2023, while maintaining a standard listing on the London Stock Exchange. Arm Holdings: The UK-based chip designer chose Nasdaq over London for its 2023 IPO — the largest of that year. The company, now valued at just over $138 billion, was previously listed in London for 18 years till 2016, when it was taken private by SoftBank (9984.T), opens new tab in a $32 billion acquisition. ($1 = 0.8763 euros) ($1 = 0.7355 pounds)
North Wales Chronicle
an hour ago
- North Wales Chronicle
Wise latest to unveil plans to switch main listing from London to New York
The money transfer firm which listed in London in July 2021, said the move would 'help us accelerate our mission and bring substantial strategic and capital market benefits to Wise and our owners'. It wants to drive greater awareness of the brand in the US, which it said was the 'biggest market opportunity in the world for our products'. A primary listing on Wall Street would also give it 'better access to the world's deepest and most liquid capital market', it added. It said the change would benefit the group by 'expanding the pool of investors able to invest in Wise, in particular US domestic institutional and retail investors, the largest global constituent of investors, many of whom are currently unable to hold our shares'. Under the plans, the firm would be dual listed, with a secondary listing in London as part of its 'ongoing commitment to the UK'. Kristo Kaarmann, co-founder and chief executive of Wise, said: 'The UK is home to some of the best talent in the world in financial services and technology, and we will continue to invest in our presence here to fuel our UK and global growth.' It deals another blow to London's beleaguered stock market after a raft of companies have ditched their primary listing in London, including Paddy Power owner Flutter, mining group BHP, building materials group CRH and construction rental firm Ashtead, while a growing number of UK listed firms have also been bought out by foreign rivals or taken private. And on Wednesday, Glencore-backed metal investment firm Cobalt scrapped its plans to list in London, just two days after drugs company Indivior said it would cancel the secondary listing it had retained in London, having already switched its main listing to the US last year. Chinese fast fashion giant Shein has also reportedly ditched London for Hong Kong for its upcoming blockbuster initial public offering (IPO). Wise, which was launched in 2011 under original name TransferWise, said it was not turning its back on the UK. It said: 'Our confidence in UK talent and the tech ecosystem here remains undimmed. 'One-fifth of our employees are based in the UK and we plan to continue hiring and investing in our UK team.' The group said it would call a shareholder meeting in the coming weeks for investors to vote on the proposal.
Times
an hour ago
- Times
Karoline Leavitt doubles down in BBC war of words over Hamas
President Trump's press secretary has doubled down in a war of words with the BBC after claiming the broadcaster treated claims by Hamas as 'total truth'. Karoline Leavitt told reporters at a White House briefing on Tuesday that the broadcaster had been forced to repeatedly correct reports about fatalities at an aid centre in Gaza on Sunday. She acknowledged that US officials were investigating claims Israeli forces had killed Palestinians queueing for food at the distribution point, but added: 'Unfortunately, unlike some in the media, we don't take the word of Hamas as total truth. We like to look into it when they speak, unlike the BBC.' On Wednesday a report by Ros Atkins, a journalist for BBC Verify, said her claims contained 'misrepresentations and untruths'. The following day Leavitt responded on X, posting: 'Me: The White House doesn't take Hamas's word as total truth like the fake news BBC. Fake News BBC: We didn't do that! We just quoted the Hamas-run health ministry to run with our false claims.' Please enable cookies and other technologies to view this content. You can update your cookies preferences any time using privacy manager. Leavitt had shown a printout of BBC digital stories, claiming the corporation had edited the headline from claiming an Israeli tank had killed 26 people to claiming gunfire had killed 31. She said the BBC had corrected and taken down its story after reviewing video and finding a lack of evidence for its reports, and added: 'So we're going to look into reports before we confirm them from this podium. I suggest that journalists who actually care about truth do the same to reduce the misinformation that's going around the globe.' The broadcaster responded that it updated its stories throughout Sunday from 'various sources', adding that this was 'totally normal practice' and that all fatality figures were 'clearly attributed'. In his response on Wednesday Atkins said: 'Updated claims on fatalities were all clearly attributed to a number of sources in Gaza, including the Red Cross, which is an independent organisation.' He added that including clearly attributed claims from the Hamas-run health ministry was 'a necessary aspect of covering this conflict given Israel doesn't allow international news organisations into Gaza'. Atkins said the broadcaster did not remove or correct any material after viewing a video, which BBC Verify determined was unrelated to the aid centre incident, and that the articles remained online.
