Friday newspaper round-up: Eddie Stobart, Uber, property funds, Saudi Aramco
By Michele Maatouk
Date: Friday 06 Dec 2019
(Sharecast News) - The Eddie Stobart transport business, famed for its red and green lorries, is teetering on the brink of collapse with its future due to be decided at a key shareholder vote in London on Friday. The vote will pit William Stobart, the third son of the company's founder, against his childhood friend and former brother-in-law, Andrew Tinkler. - Guardian
More than 3,000 Uber passengers reported sexual assaults in 2018, the ride-sharing company revealed in its first-ever safety report on Friday. Nine passengers were murdered and 58 riders were killed in crashes last year, the report said. These incidents, which include 229 rapes, represent just a fraction of the more than 1.3bn rides Uber facilitated in the US in the past year, but they come at a time when the company is increasingly under scrutiny for worker and rider safety conditions. - Guardian
Emmanuel Macron faces his ordeal by fire. French trade unions, the professional guilds, and political populists of Left and Right have combined to defeat his landmark reform of France's exorbitant pension system. It is a test of whether the sacred modèle français can be made fit for the 21st Century, and whether France's surging public debt ratio can be brought under control. A heroic attempt to tackle this rogue beast under the Chirac-Juppe government in 1995 ended in failure after three weeks of havoc. - Telegraph
More than £5,000 a second was withdrawn from British property funds in a year because of uncertainty over Brexit and high street woes. Between October 2018 and October this year, a net £2.97 billion was taken from 15 open-ended funds that offer daily liquidity to investors, analysis by Morningstar, the data firm, shows. - The Times
Saudi Aramco has priced its initial public offering at the top end of its range in what will be the world's largest new listing to date. The state-owned energy group will price its shares at 32 riyals - or about 648p - per share, the higher end of its indicative range, according to sources familiar with the decision, and set to raise $25.6 billion. This would beat the previous $25 billion record set in 2014 by Alibaba, the Chinese ecommerce company. - The Times
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