Nov 30, 2017

Theresa May battles Trump for Aramco IPO listing

President Trump and British Prime Minister Theresa May during a news conference in Jan. 2017. PhotoL Evan Vucci / AP

British Prime Minister Theresa May yesterday pitched London's stock exchange as the best location for the massive IPO of state oil giant Saudi Aramco next year, a move that comes two weeks after President Trump publicly urged the kingdom to select the U.S. for the offering slated for 2018.

Why it matters: The international venue selected for the listing will bring huge fees to the exchange that wins the IPO of 5% of the company, which Saudi officials hope will raise tens of billions of dollars to help fund the kingdom's economic diversification and modernization efforts.

Making her case: "I think London is extremely well placed, not only from its importance as an international financial centre, also technically well placed in relation to Aramco," she told reporters just ahead of her visit with top Saudi officials in Riyadh, according to the Mirror.

  • The outcome of the very public courtships — not to mention behind-the-scenes appeals — also carry geopolitical ramifications, forcing the Saudi rulers to make a choice between the U.S. and the U.K. (or perhaps another venue like Hong Kong) at a time of tensions between Trump and May.

Separately: Yesterday May rebuked Trump for retweeting anti-Muslim hate videos from British far-right leader Jayda Fransen.

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World coronavirus updates

Data: The Center for Systems Science and Engineering at Johns Hopkins; Map: Axios Visuals

New Zealand now has only one novel coronavirus patient in hospital and just 22 active cases in the country, top health official Ashley Bloomfield confirmed at a briefing. He's "confident we have broken the chain of domestic transmission," with no new cases reported for most of May, he added.

By the numbers: Brazil on Monday recorded for the first time more deaths from the novel coronavirus in a single day than the United States, Reuters notes. Brazil reported 807 deaths from COVID-19 in the past 24 hours, compared to 620 in the U.S. for the same period.

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Global: Total confirmed cases as of 10:30 p.m. ET: 5,494,287 — Total deaths: 346,229 — Total recoveries — 2,31,722Map.
  2. U.S.: Total confirmed cases as of 10:30 p.m. ET: 1,662,302 — Total deaths: 98,218 — Total recoveries: 379,157 — Total tested: 14,604,942Map.
  3. World: Italy reports lowest number of new cases since February — Ireland reports no new coronavirus deaths on Monday for the first time since March 21 — WHO suspends trial of hydroxychloroquine over safety concerns.
  4. 2020: Trump threatens to move Republican convention from North Carolina — Joe Biden makes first public appearance in two months.
  5. Public health: Officials are urging Americans to wear masks over Memorial Day.
  6. Economy: New York stock exchange to reopen its floor on Tuesday — White House economic adviser Kevin Hassett says it's possible the unemployment rate could still be in double digits by November's election — Charities refocus their efforts to fill gaps left by government.
  7. What should I do? Hydroxychloroquine questions answeredTraveling, asthma, dishes, disinfectants and being contagiousMasks, lending books and self-isolatingExercise, laundry, what counts as soap — Pets, moving and personal healthAnswers about the virus from Axios expertsWhat to know about social distancingHow to minimize your risk.
  8. Other resources: CDC on how to avoid the virus, what to do if you get it, the right mask to wear.

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Updated 38 mins ago - Politics & Policy

Pro-Hong Kong resolution at British university fails after Chinese student opposition

A protester waves the Hong Kong colonial flag during a July 2019 demonstration against the extradition law to China. Photo: Ivan Abreu/SOPA Images/LightRocket via Getty Images

A student resolution expressing support for the Hong Kong pro-democracy movement was voted down at the University of Warwick in England, after opposition from mainland Chinese students.

Why it matters: The charged politics of China's actions in Hong Kong are spilling over to university campuses thousands of miles away, raising questions for students and university administrators about how to protect democratic values.