Oil giant Saudi Aramco recently had the world’s biggest IPO of US$25.6 billion. At that level it has a market valuation of US$1.7 trillion, beating Apple to become the world’s most valuable company.
Aramco did not say when shares would start trading on the Saudi stock market but two sources said it was scheduled for Dec. 11.
Saudi Arabia relied on domestic and regional investors to sell a 1.5% stake after lukewarm interest from abroad, even at the reduced valuation of $1.7 trillion.
Goldman Sachs tweeted today that credit bureaus are starting to add the Apple Card to their credit reports, starting with TransUnion.
In that “tax dodging” is using illegal means to avoid paying taxes, it’s not properly applied to Apple, a company that has long used international law to structure its business in order to pay the least taxes it—legally—can.
Apple is treating Apple Card as a service, not just a physical product, and will continue to add merchants to its 3% Daily Cash program.
Nike joins other companies in offering 3% cash back to customers who use the Apple Card on any of the company’s retail platforms.
Apple Pay Belarus begins its rollout starting with BPS-Sberbank, one of the oldest and biggest banks in the Republic of Belarus.
Apple has been wooing China for years now but it sounds like it’s an increasingly one-sided relationship as China is blocking Apple services.
Rabobank is the second-biggest bank in the Netherlands, leading in food and agriculture financing and sustainability-oriented banking.
Ekster recently sent Andrew a smart wallet called the Senate cardholder. He thinks it’s good for his Apple Card. Here are his thoughts.
Not only was Apple the first company to reach a market value of one trillion dollars, the company recently passed that milestone.
In the future Apple and other companies will have to pay taxes in each country they sell products and services in.
Apple is preparing a bond offering to raise money for share buybacks so it doesn’t have to dip into its cash hoard. The company hasn’t offered bonds since 2017.
We estimate the net proceeds from sales of the notes will be approximately $ , after deducting underwriting discounts and our offering expenses. We intend to use such net proceeds for general corporate purposes, including repurchases of our common stock and payment of dividends under our program to return capital to shareholders, funding for working capital, capital expenditures, acquisitions and repayment of debt.
Geoffrey Fowler compared an Amazon credit card with Apple Card to see which one is more private. The knee jerk response is to say Apple, and it’s true that Apple does have more privacy than others. But when it comes to the Apple Card, that privacy only appears under certain circumstances.
Despite a federal privacy law covering cards, I found that six types of businesses could mine and share elements of my purchase, multiplied untold times by other companies they might have passed it to. Credit cards are a spy in your wallet — and it’s time that we add privacy, alongside rewards and rates, to how we evaluate them.
Bottom line: Neither Apple nor Goldman Sachs collects or shares your data. But retailers and card networks like Mastercard can still collect and sell your purchase data.
French President Emmanuel Macron says it’s crazy that companies like Amazon, Apple, Facebook, and Google get a “permanent tax haven status.”
The reference to ‘tax haven status’ relates to practices used by Apple and others to funnel profits on European sales through Ireland, and then to claim large deductions for R&D costs incurred in the US. There have also been accusations that Apple assigns most of its European profits to a subsidiary which exists only on paper and which pays no taxes anywhere.
Want a clean Apple Card? Apple has a new support page that tells customers how to do just that.
Apple Pay is now available to customers of the country’s largest bank, Danske Bank. Both private and business customers can use it.
After months of beta testing and a soft launch earlier this month, Apple Card is now available to all Apple customers in the United States.
Redditor u/mdhardeman did some digging into the Apple Card. After running a test transaction they found that the card was listed as a Mastercard World Elite.
The Mastercard World Elite consumer credit cards are significantly more expensive to accept than a plain Mastercard credit card or basic rewards card. In exchange, the theory goes, Mastercard ensures that those cards only make it into the hands of premium consumers who, on average, spend more on many purchases and have a larger amount of disposable income. In exchange, Mastercard demands the higher reimbursement for the card issuers to be able to fund a benefits package that will attract heavy spenders to their World Elite card products.
Goldman Sachs uses your credit score, credit report, and your self-reported income when it evaluates your Apple Card application.