Jun 23, 2017
Week in Review, June 24
The bank undertook two fundaisings in 2008 as the financial crisis began to bite, one in June for £4.5bn and another in October for £7.3bn. Qatari investors subscribed to both. Vice Media's valuation ballooned to $5.7bn as private equity group TPG this week invested $450m in the youth-focused media company, writes Shannon Bond in New York. Vice's value has more than doubled in the past three years, giving it a bigger price tag than institutions such as the New York Times, with a market cap of $2.8bn, Tribune Media, which US television station owner Sinclair Broadcast bought for $3.9bn last month, and the Washington Post, for which Jeff Bezos paid $250m in 2013. This week, Ford dropped a new bombshell, saying that it would move production of the car out of Mexico and into China from 2019, in a move it said would save $500m and have zero impact on US jobs. Embraer, the Brazilian aerospace company, also showed off its E195-E2, the biggest of its new generation of regional jets.
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