Manchester United chooses NYSE for listing July 4, 2012 Manchester United has picked the New York Stock Exchange to make its stock market debut, ending months of speculation over where the world’s best-supported football club would list. After first eyeing a Hong Kong IPO, the former English Premier League champions had planned a $1bn (£638.1m) listing in Singapore in the second half of last [...]
Taylor Wimpey says UK housing market stable July 4, 2012 UK housebuilder Taylor Wimpey said it would post an improvement in all key financial metrics at its first-half results and joined peers in reporting that the UK housing market remained stable in the first half of 2012. In the short-term, if the stable market conditions continue, the group expects to continue posting a better performance [...]
FTSE edges up as Barclays chief quits July 3, 2012 The FTSE 100 edged up in early trading to continue two sessions of strong gains fuelled by hopes that the Eurozone could avert collapse. Significantly Barclays edged up slightly after chief executive Bob Diamond quit with immediate effect over the Libor rate-rigging scandal. Britain’s third-largest bank also accepted the resignation of chairman Marcus Agius on [...]
UK construction slumps July 3, 2012 British construction activity fell at its fastest pace in two-and-a-half years in June as underlying business conditions worsened and an extra public holiday hit output, a survey showed. The gloomy data will make grim reading for the government and Bank of England who are facing increasing calls to act and boost growth in an economy [...]
BlackRock to buy Swiss Re private equity business July 3, 2012 US investment management firm BlackRock is buying Swiss Re’s European private equity and infrastructure fund of funds franchise, it said. BlackRock said the terms of the all-cash deal, which also includes a strategic alternative investments deal with the world’s second-biggest reinsurer, were not being disclosed and it expected the deal to be completed by the [...]
Persimmon says new strategy paying off July 3, 2012 British housebuilder Persimmon said it had made an excellent start to its new strategic plan by completing more new homes, attracting more viewers and selling them for a higher fee, giving it confidence for the full year. Britain’s largest householder by market value followed other property developers by saying that market conditions had been relatively [...]
Diamond quits over rate fixing scandal July 3, 2012 Barclays chief executive Bob Diamond quit with immediate effect on Tuesday over an interest rate-rigging scandal, becoming the highest-profile victim so far in a probe that spans a dozen major banks across the world. Britain’s third-largest bank said that outgoing chairman Marcus Agius – who himself announced his departure a day earlier – would lead [...]
Cameron to launch parliamentary inquiry into banks scandal July 2, 2012 Prime Minister David Cameron says will establish full parliamentary inquiry into bank rate-fixing scandal. “I want us to establish a full parliamentary committee of inquiry involving both houses,” Prime Minister David Cameron told parliament, stopping short of giving further details on its full remit. “This committee will be able to take evidence under oath, it [...]
Eurozone unemployment rises July 2, 2012 The jobless total in the eurozone reached 11.1 per cent in May, marking the highest level since records began in 1995, official figures have shown. A total of 17.56m people are now unemployed, according to EU statistics body Eurostat. Spain, where one in four people is now out of work, suffered the highest unemployment rate. [...]
FTSE up as UK manufacturing decline slows July 2, 2012 The FTSE 100 edged up this morning as new data showed that the decline in UK manufacturing slowed in June. The manufacturing PMI – a respected survey of the sector – stood at at 48.6, up from 45.9 in May and well ahead of the consensus forecast of 46.5. New orders also rose strongly to [...]
