Markit share price soars on first day of US trading June 19, 2014 Markit, the UK financial data provider, saw its shares leap as much as 14 per cent yesterday during its debut on the Nasdaq Stock Exchange in New York. Markit, which raised $1.3bn (£762m) from the float, closed up 11.25 per cent at $26.70 after launching its shares at $24, the mid-point of its price range, [...]
Spirit lines up banks for $40bn financing of bid for T-Moble US June 19, 2014 US MOBILE operator Sprint has lined up eight banks to finance its proposed purchase of T-Mobile US, edging closer to a deal that would merge the third- and fourth-biggest mobile operators in the country. The debt package exceeds $40bn (£25.3bn) and includes a bridge loan of roughly $20bn from Japan’s Softbank, as well as a $20bn [...]
Facebook suffers worst crash in four years June 19, 2014 Facebook suffered a temporary outage yesterday between 9am and about 9:40am, its first meltdown since 2010. The outage prevented users around the world from reaching the site. During the crash, users were greeted with a message that read: “Sorry, something went wrong.” It added that it was “sorry for any inconvenience this may have caused.”
It’s a real family affair during this week’s £300m FDM float June 19, 2014 SOME say that, much like working with children and animals, one should avoid working with one’s other half. But this week’s float of IT services firm FDM has been a real-life example to the contrary. Not only are the chief exec Rod Flavell and COO Sheila Flavell of FDM married, but two of the bankers advising [...]
Charles Stanley profits decline June 19, 2014 Charles Stanley’s takeover of Evercore Pan Asset helped lead full year profits to a 33 per cent decline, it said yesterday. The takeover and other hires for regional office plus the expenses for building Charles Stanley Direct led pre-tax profits down by £3m to £6.1m for the year ending March. Charles Stanley, which offers advice [...]
Liontrust roars back into market June 19, 2014 Liontrust Asset Management yesterday gave a bullish outlook for growth at the company after doubling of pre-tax profits last year. The asset management firm, which returns to the FTSE All Share on Monday for the first time since 2008, said incoming pension saving changes and more scope to sell funds overseas meant it was well [...]
Gottex on the acquisition trail June 19, 2014 Hedge fund group Gottex Fund Management is targeting a $6.5bn (£3.8bn) boost to its assets, around half of which will come from acquisitions in Asia and the US, its chief executive said. EIM Group chief executive Joachim Gottschalk told Reuters he expected to announce a new deal in Asia within six months. “It’s the US [...]
Home repair work for Kier June 19, 2014 CONSTRUCTION company Kier yesterday secured a £140m maintenance contract with one of the largest housing associations in London and the east of England. The four-year deal with Genesis Housing Association covers 33,000 properties, and has an option to be extended for a further six years. Kier will carry out kitchen and bathroom replacements at the [...]
GE offers Alstom 50:50 alliance June 19, 2014 US GIANT General Electric yesterday proposed an alliance with French energy firm Alstom based on 50:50 joint ventures that would ringfence sensitive nuclear activities. It was the latest shot in a two-month-long tussle with Germany’s Siemens and Japan’s Mitsubishi Heavy Industries (MHI) for control of Alstom’s energy business. GE said it had signed a memorandum [...]
Bond studio wins licence to grow June 19, 2014 Pinewood Studios, home to the most recent James Bond film Skyfall, has been granted permission to expand following an appeal. The site will now double in size at a cost of £200m. New streetscapes form part of the 15-year plan for the site, where Star Wars Episode VII is currently being filmed.
