Royal Mail shares debut at 450p October 11, 2013 Royal Mail shares have opened at 450p (from the 330p sale price) as grey market trading begins this morning. The 36 per cent increase means that the Royal Mail is large enough to join the FTSE 100, with a market cap of over £3.1m. About 690,000 would-be investors are to receive a share allocation worth [...]
Shares plummet as Chemring profit takes hit from US shutdown and Middle East tension October 11, 2013 Aerospace defence group Chemring has announced a rather gloomy trading update for the third quarter, saying its profit is being dealt a blow from the US shutdown and tensions in the Middle East. (Release) 2013's anticipated operating profit the company says, going to be affected by the closure of a large number of government departments [...]
What you need to know before the open – 11/10 October 11, 2013 European markets are expected to build on yesterday's sizeable gains today, with asian markets seeing a three-week high, following US markets' second best day for the year. The optimism comes as debt talks get underway, with anticipation of a near agreement being made to extend the deadline for raising the US debt ceiling. Moreover, politicians [...]
Westpac to buy Lloyds’ Australian operations as bank exits the country October 11, 2013 Lloyds Banking Group says that it has agreed the AU$1.55bn (£0.9bn) sale of its Australian operations to Westpac Banking Corporation, as the bank begins to exit the Australian market. (Release) Lloyds will be selling Capital Finance Australia, a motor and equipment finance business, and the Australian division of corporate lender BOS International. The sale includes [...]
Shut out: Thousands denied stake in £3.3bn Royal Mail share sale October 10, 2013 ROYAL Mail will this morning be privatised in a deal worth £3.3bn – but tens of thousands of private investors will miss out on shares in the postal service due to extraordinary demand and a controversial allocation policy. Around 40,000 individuals who each applied for more than £10,000 worth of shares last night discovered that business [...]
Blackberry founders consider rival bid for mobile firm October 10, 2013 BLACKBERRY’S co-founders are considering a rival bid for the company after increasing their holdings in BlackBerry, a securities filing revealed yesterday. Former chief executive Mike Lazaridis – who ran BlackBerry from 1984 until last year when shareholder pressure and product delays forced him out – and co-founder Douglas Fregin are considering an offer for the [...]
Negotiations to extend US debt ceiling continue October 10, 2013 REPUBLICANS and President Obama were locked in talks last night in a bid to secure a deal to push back a looming US debt ceiling and the potentially disastrous consequences of defaulting on its debt payments. “After a discussion about potential paths forward, no specific determination was made,” the White House said following a meeting [...]
Energy row hots up as SSE blames policy for price rise October 10, 2013 THE ENERGY market debate hotted up once again yesterday, as big six supplier SSE said it would raise its bills by 8.2 per cent from next month – adding £104 on to the average annual bill – and blamed the majority of the increase on government policies. SSE said the cost of the government’s green [...]
Royal Mail: What happens now October 10, 2013 IF YOU BID FOR £10,000 OR LESS YOU GET £749.10 IF YOU BID FOR OVER £10,000 YOU GET NOTHING WHAT HAPPENS NOW TODAYConditional trading of Royal Mail shares begins, with the price expected to jump. Individuals who failed to receive their full allocation of shares can expect to see their cash put on account. TUESDAYUnconditional [...]
Lloyds offloads Australian firms October 10, 2013 LLOYDS Banking Group has agreed to sell its Australian operations to Westpac Banking Corporation for £900m, the state-backed lender said this morning. The sale, which further reduces Lloyds’ overseas footprint, will see the bank offload motor asset finance provider Capital Finance Australia and corporate lending business BOS International. The sale marks the end of Lloyds’ [...]