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This collection of articles explores the fallout of the war in Ukraine on Western companies operating in Russia
...The state-owned company is exploring building two European factories....
...Goldman Sachs has moved its top investment banker for European financial companies from London to Paris, as the Wall Street bank finalises its post-Brexit relocation plans....
...But CAB said it had “not been contacted, at any level, by the Central Bank of Nigeria regarding any investigation.” The company denied any wrongdoing....
...Shares in London-listed fintech group CAB Payments fell 54 per cent on Tuesday after it cut its projected revenues for 2023 by 17 per cent....
...The company made a similar effort to win over London black-cab drivers in 2016 but the option to hail “hackney carriages” was discontinued in 2017 after the number of active drivers plateaued in the low...
...“London Stock Exchange welcomes CAB Payments,” posted the LSE on July 6. It was “a very special moment for the company and the fintech sector,” according to FINTECH Circle....
...One banker said the collapse in CAB’s shares was “an absolute disaster” for a London market trying to sharpen its appeal to companies and wrestle more IPOs from New York....
...The sale price “reflects a mandatory discount of at least 50 per cent” to “fair value” under Russian government rules on exits for western companies, Yandex’s parent company said....
...CAB Payments raised £335mn ahead of its London listing on Thursday, with the admission of the cross-border payments company marking a bright spot for the city’s stock market amid a dearth of initial public...
...investment fund Temasek, which valued the company at $5.4bn....
...On Tuesday, shares in CAB plunged 72 per cent after the company warned on its profits....
...It is not enough to say that the company gets most of its revenue in Africa and that changing conditions could adversely affect results (Alphaville reached out to CAB but the company declined to comment)...
...A string of western companies have sought to offload their Russian arms since the country’s invasion of Ukraine last year and amid the subsequent sanctions imposed by the US and EU....
...June 15: CAB Payments Holdings Limited Confirmation of Intention to Float on the London Stock Exchange The Company has engaged Barclays Bank PLC, acting through its Investment Bank (“Barclays”) as Joint...
...Its manifest purpose is to let the company off the hook and insist that concussions and crushed limbs are the workers’ responsibility....
...“Europe needs different kinds of companies to IPO.”...
...Shares in UK financial technology company CAB Payments fell sharply in their first day of trading in London, underscoring the challenges the City faces to recover from a dearth of initial public offerings...
...CAB Payments’ chief executive, Bhairav Trivedi, said: “We think the market is resilient and opening up and we do think more companies need to show they’re committed to it”....
...The widely reported corporate exodus of major western brands in the immediate aftermath of the full-scale invasion was quickly replaced by the “stay and wait” approach of over 2,000 international companies...
...The move highlights some of the fallout western companies are feeling from the punitive measures against Moscow....
...Mirroring most officials and state company leaders, he has remained in his job, citing his obligation to Sberbank’s customers and refuting allegations of the bank’s involvement in supporting Russia’s war...
...The rise of Turkish aviation stands in sharp contrast to the picture in western Europe, where parts of the industry are in retreat....
...It’s like a ride in a Soviet theme park, designed to convey the vacuity and decadence of western youth....
...Two years into the war, those western companies still clinging on to their Russian assets have been counting on war fatigue in their home markets to ride out the initial wave of public outrage....
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