Latest deals and developments

  • Following Donald Trump’s cordial visit to China, Beijing announced an easing of limits of foreign ownership of financial services firms. This marks one of the biggest liberalisations since China joined the WTO in 2001 and will likely be capitalised on by the Trump administration

  • The British government is set to sign off on a $2 billion loan guarantee for Saudi Aramco – with London seeking to host the stock market flotation of the company. The flotation is a key element of Mohammed Bin Salman’s economic reforms aiming to wean the Kingdom of off oil

  • Morgan Stanley, Citigroup and Bank of America are among banks planning to use the offices of their EU subsidiaries to continue operating in the City of London following Brexit. The viability of their plan however, depends on the nature of the relationship post-Brexit and whether EU based firms can still operate as freely as they do now

  • Hasbro has made a bid for Mattel in a deal that would unify the two largest US toy companies. The traditional US toy industry has been hammered by the rise of Amazon and competition from the technology sector

  • Republican tax reform proposals have received mixed responses from business: with private equity and housing lobbies rallying against the removal of interest deductions whilst others have responded positively to the cut in the headline rate