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 [...]
Here’s new Standard Chartered chief executive Bill Winters, bare-chested, doing a falsetto June 10, 2015 Remember that video featuring five top City executives making total prats of themselves while stripping off and singing that appeared on YouTube last April? We just thought we'd bring it up again, partly because it was funny, but mainly because it features new Standard Chartered chief exec Bill Winters – who started his job today [...]
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 [...]
Segro boss David Sleath: Hurry up with Airports Commission decision June 9, 2015 The chief executive of a FTSE 250-listed real estate investment trust (REIT) has written an open letter to the body charged with deciding whether to expand Heathrow or Gatwick, calling for an "end to indecision". Read more: Stop the dithering – Cameron needs to make an early call on airport expansion Segro's David Sleath urged [...]
Oil prices jump again as US forecasts fall in shale oil production June 9, 2015 The price of Brent crude rose more than 3.6 per cent to close to $65 per barrel this afternoon, after a forecast from the US Energy Information Authority suggested supply from the US' shale gas sector is likely to dip over summer. Meanwhile, West Texas Intermediate rose three per cent to $59.90, suggesting US oil [...]
Just Eat share price falls as it raises £445m June 9, 2015 Shares in Just Eat, the takeaway site which listed last April, fell 1.9 per cent to 416p this morning after it announced it had raised £445m through a placing and open offer. The company – listed in the UK but founded in Denmark – announced in May that it was planning to raise cash to [...]
UK trade deficit narrows to 13-month low as Eurozone GDP growth sticks at 0.4 per cent June 9, 2015 The UK's trade deficit – the gap between its imports and exports – narrowed to its smallest in 13 months in April, figures published today showed. The deficit more than halved to £1.2bn in April, compared with £3.1bn in March. Total exports rose 1.2 per cent between March and April, while imports fell 3.1 per [...]
Athens stocks jump as Greece submits new reform proposal to its creditors June 9, 2015 The European Commission (EC) confirmed today it has received a new reform proposal from Greece, which could finally unlock bailout money for the embattled nation. Read more: How to lose friends and alienate people – Tsipras faces backlash Reuters reported officials from the EC had confirmed receipt of the document, which was originally due on [...]
