Deutsche Bank regains ability to sponsor Hong Kong IPOs with new hires September 2, 2021 Deutsche Bank AG has won back its ability to sponsor IPOs in Hong Kong after it temporarily lost the right in June when two employees left without replacements lined up, according to Bloomberg who first reported the news. The German bank hired three new senior staff and added Derek Chung, Ian Long and Albert Chang [...]
CMC Markets shares slump 26 per cent on trading activity dip September 2, 2021 CMC Markets expects to capitalise on long-term growth opportunities, despite experiencing a dip in trading activity on its platforms. Investors ditched shares in the company this morning, with CMC Markets shares sliding more than 26 per cent to 308p. In a trading update released today, the trading platform said: “The Group continues to have confidence [...]
Melrose shares pop as firm returns to profit September 2, 2021 Shares in industrialist Melrose jumped 5.0 per cent this morning as the FTSE 100 firm returned to profit after the pandemic. For the first half of the year the firm company that it had made an operating profit of £223m, back in the black after an £11m loss a year ago. Revenue crept up to [...]
Morrisons added to FTSE 100, Just Eat booted from blue-chip index September 2, 2021 British supermarket chain Morrisons is joining London’s premier FTSE 100 index, while takeaway delivery service company Just Eat Takeaway.com has been booted from the benchmark of blue-chip stocks. Engineer Weir Group will also leave the FTSE 100, while defence technology company Meggitt will be added. Meanwhile, on the index of mid-cap companies, the FTSE 250, [...]
Q&A: Why are heat pumps so important for the energy transition? September 2, 2021 | City Talk The world is now in the early stages of the transition from using fossil fuels, such as gas, to more sustainable power sources as part of the battle against climate change. Many countries have now set targets for achieving net zero carbon and the phasing out of internal combustion engine cars and the switch over to electric [...]
Grainger proposes placing of up to 67.38m shares September 1, 2021 Residential landlord Grainger has proposed a placing of approximately 67.38m shares, representing approximately 9.99 per cent of the company’s issued share capital. The company said the proposed placing was expected to raise £216m, including additional debt of approximately £144m based on Grainger’s LTV target range. Proceeds will be used to fund two recent acquisitions, Becketwell [...]
Surging tech megacaps power Nasdaq to another peak September 1, 2021 A surge among tech megacaps powered the Nasdaq to another record high during early trading on Wall Street today. The US’s tech-heavy benchmark has since fallen back from its fresh peak, but is still up 0.65 per cent to 15.358.32 points during mid-morning exchanges. The blue-chip S&P 500 jumped 0.18 per cent to 4,531.01 points [...]
Nearly all investors think inflation will rise faster than expected September 1, 2021 Almost all professional investors expect a larger than expected hike in inflation in the next year, according to a new study. Research from Tabula Investment Management reveals 95 per cent of investors think inflation will progress at a clip much higher than leading market commentators’ predictions. Investors expect inflation to surge ahead of expectations as [...]
QuickBooks owner Intuit in early talks for $10bn Mailchimp buyout September 1, 2021 Software developer Intuit, the firm behind TurboTax and QuickBooks, has reportedly entered talks with Mailchimp for a $10bn buyout. The deal’s discussions are still in their early stages, Bloomberg first reported, citing people familiar with the matter. There is room for the potential deal to fall through, or alternatively, a rival bidder may emerge for email [...]
SEC double hit: Robinhood comes under scrutiny for key revenue stream and share sale filing September 1, 2021 Trading platform Robinhood has told investors that the US financial watchdog is reviewing a filing of a share sale by a group of its shareholders, a day after its share price sank on two other bouts of bad news. The U.S. Securities and Exchange Commission (SEC) review prevents any sales being made off the filing [...]