Netflix share price rockets on share split plan June 10, 2015 Shares in Netflix have reached a record high after the company revealed its share split plan at yesterday's annual shareholder meeting. Voters approved a plan that allows the internet streaming service to split its shares, paving the way for a 30-fold increase in outstanding shares to 5bn – a big rise from the current 170m. [...]
UK Oil and Gas Investments’s share sale raises £6m June 10, 2015 UK Oil and Gas Investments (UKOG) has raised £6m to fund its oil exploration in the Weald Basin. The Aim-listed company placed more than 200m ordinary shares at 2.25 pence per share. Ukog shares fell as much as six per cent to 2.35 pence per share in Tuesday trading, after the company confirmed it's in [...]
Krispy Kreme June 10, 2015 The findings Why it's interesting What Krispy Klreme said In short In September last year – DOUGHNUT retailer Krispy Kreme yesterday reported that its quarterly earnings rose 22 per cent as it posted stronger revenue, driven by sales at locations open more than 18 months. [...]
Bank of England Fair and Effective Markets Review: Tens of thousands more City workers to be covered by the senior managers regime June 10, 2015 The Bank of England (BoE) today unveiled a set of tough new market rules which will increase individual responsibility among banks' senior managers and lengthen jail sentences for market abuse. Read more: Why the financial system has the same qualities as cancer Recommendations from The Fair and Effective Markets Review include extending the senior managers regime [...]
London IPOs are down 43 per cent by volume from last year as JP Morgan wins battle of the bookrunners June 10, 2015 The volume of IPOs in London has hit $6.9bn (£4.4bn) so far this year – that's 43 per cent lower than this time last year. The 22 flotations which have taken place in London so far this year – which include Auto Trader's £2bn IPO, Revolution Bars' £100m listing and that hair-raising IPO of Integrated [...]
China National Nuclear Power: China just had its largest IPO since 2011 June 10, 2015 China National Nuclear Power (CNNPC to its friends) made its debut on the Shanghai Stock Exchange today, raising 13.19bn yuan (£1.4bn) in the process. The IPO is Shanghai's largest since 2011 (although to be fair it has been planning to IPO since 2012), when Power Construction Corporation of China listed. Priced at 3.39 yuan, shares [...]
Oil and gas fires up industrial production – but manufacturing output slides June 10, 2015 Industrial output rose by 0.4 per cent in April, according to figures from the Office for National Statistics (ONS), beating economists' forecasts of a 0.1 per cent rise. The bumper figure was driven by mining and quarrying which rose by 5.6 per cent – and this was helped along by oil and gas extraction which [...]
George Osborne to mandate government budget surplus in the “good times” – but when was the last budget surplus? June 10, 2015 George Osborne will say tonight that he intends to force future governments to run a budget surplus in order to "prepare for an uncertain future". In a major speech in the City of London tonight, the chancellor will announce that he will enshrine in law the need for future governments to run an overall budget [...]
Google’s Larry Page, American Express’ Ken Chenault, Three’s David Dyson: These are the UK’s top-rated chief executives, as voted for by their employees June 10, 2015 It's a tough business, being a chief executive these days – so a little bit of love from their employees never goes amiss. Now recruitment site Glassdoor has unveiled its list of the UK's highest-rated chief execs. Alas, the top-rated guy isn't even based here… The list, which is based on approval by their employees, [...]
Afren share price falls as it puts off another interest payment to bondholders June 10, 2015 Afren, the troubled oil producer whose share price plummeted 98 per cent last year, admitted this morning that it will use another 30-day grace period to put off an $11.9m (£7.7m) interest payment due yesterday. The Aim-listed company added that it was unlikely to make the payment, due on its 2020 bonds, at the end [...]