Private equity floats at highest since 1998 December 21, 2014 NEW STOCK market listings of private equity backed firms like SSP, led by chief executive Kate Swann, rose to their highest level since 1998 this year, according to figures from the centre for management buy-out research, at EY and Equistone. There were 43 PE-backed floats across Europe in 2014, worth €44bn, according to the stats.
Saga on track to meet market expectations in full year results December 17, 2014 Insurance firm Saga issued a trading update yesterday and confirmed that the company’s new chief financial officer will take up his role in April 2015. The firm, which specialises in products and services for customers over the age of 50, announced that Jonathan Hill, previously at Bovis Homes Group, had been appointed to the position [...]
Quindell eyed for group legal action by rival law firm Your Legal Friend December 16, 2014 Embattled insurance outsourcer Quindell is being eyed for potential group legal action by a rival law firm Your Legal Friend. Liverpool-based Your Legal Friend, which was formerly known as Camps Solicitors, is appealing for investors burnt by their investment in Quindell to get in touch. The company's share price has lost around 75 per cent in [...]
With Lending Club’s IPO capping off another string of tech floats, is the sector in a bubble? December 14, 2014 Jasper Lawler is market analyst at CMC Markets, says Yes. Tech stocks are not seeing the same excesses as in the dot-com boom. But there are some clear parallels to be drawn, and lofty valuations support exercising caution. The dot-com bubble was characterised by the boom and bust of Pets.com, and in 2014 we’ve seen [...]
Quindell eyed in parliament as Lord Myners questions company’s activities December 12, 2014 Former City minister Lord Myners has asked the government whether it will investigate embattled insurance outsourcer Quindell, its board of directors or its financial advisers. The written parliamentary question, first reported by the Financial Times, was put to the government on 1 December. Myners said: To ask Her Majesty's government whether they are investigating Quindell and [...]
Former Quindell chair slashes his share holdings December 10, 2014 SHARES of embattled insurance outsourcer Quindell lost over a quarter of their value yesterday after founder and former chairman Rob Terry sold off most of his remaining stock. Since April, when mysterious US short seller Gotham City Research published a note questioning its business and profits, shares in the company have lost more than 80 [...]
China’s equities market connect off to slow start December 10, 2014 A LANDMARK policy that allowed greater access to and from China’s closed-off financial markets has failed to inspire in its opening weeks. The Shanghai-Hong Kong stock exchange connect allows foreign investors to buy shares listed on the Shanghai bourse for the first time ever. It also allows Chinese investors to purchase foreign assets via Hong [...]
Former Quindell chairman, Rob Terry, sells most of his stake, sending share price down by almost half December 10, 2014 Quindell klaxon, everyone: former chairman Rob Terry has sold off most of his remaining stake in the embattled insurance outsourcer, sending shares plummeting by almost half their value, to 24.1p. The company has been at the centre of a massive loss of confidence over the past few months. Since April, when mysterious US short seller [...]
Quindell stock rocked as PwC probes figures December 8, 2014 TROUBLED insurance outsourcer Quindell witnessed its share price plummet 16 per cent yesterday morning after it announced it had hired PwC to carry out an independent review into its accounting practices. Quindell said in a statement it had appointed the Big Four accountant to review its “main accounting policies and expectations as to cash generation [...]
Quindell share price plummets as it hires PwC to carry out review into accounting December 8, 2014 Shares in embattled insurance outsourcer Quindell plunged as much as 16 per cent as the market opened this morning, after it announced it had hired accounting giant PwC to carry out an independent review into its accounting practices. The company, whose shares have lost more than 90 per cent in value since April, said the review [...]