Record order for American July 20, 2011 AMERICAN Airlines has splashed out up to $40bn (£24.7bn) on an order for 460 Boeing and Airbus aircrafts, as the carrier works to overhaul its fleet. The firm, which claims the deal is the biggest-ever single aircraft purchase, is set to buy the planes between 2013 and 2022. It marks a departure from American Airline’s [...]
Zillow shares surge on first day of trading July 20, 2011 SHARES of real estate and housing data company Zillow tripled in value on their debut, after pricing above their expected range, as investors buoyed by a wave of successful internet IPOs shrugged off its ties to a weak housing market. Zillow’s initial pop in value overtook internet-and-IPO darling LinkedIn’s first-day share rise. LinkedIn only doubled [...]
Starbucks appoints former Clinton aide as its UK boss July 20, 2011 STARBUCKS has appointed Kris Engskov – a former top aide to Bill Clinton – as head of its UK business. Engskov (pictured right) is credited as being the inspiration for the character “Charlie” – a member of the White house inner circle in the US TV hit show the West Wing. He will take over [...]
Matrix slashes broking arm in jobs bloodbath July 20, 2011 THE City’s jobs bloodbath is threatening to decimate staff levels at smaller corporate finance firms this summer, industry sources warned yesterday. Finance house Matrix Group placed most of its 93-person investment banking team under review with a view to retrenching them as it struggles to cover its costs. Only its investment trusts, real estate and [...]
Barroso: Euro relies on leaders’ promises July 20, 2011 THE Eurozone will meet for a critical meeting on a second Greek bailout today in negotiations that could make or break the euro. European Commission president Jose Manuel Barroso said that it was time for Eurozone leaders to “make good” on their promise to save the single currency. “Most of the decisions to be taken… [...]
Why the City ought to be keeping a close eye on EU’s fight to fix Greece July 20, 2011 It is not going to be a pretty sight today in Justus Lipsius building in Brussels. At the crisis summit, Europe’s leaders will do something they previously reassured their taxpayers was a legal impossibility – bail out failed states in the Eurozone. Or at least, they will try to do this. Although they all agree [...]
Bankia shares fall in market debut despite bank discounting its listing July 20, 2011 SHARES in Bankia, the Spanish savings bank, dived below their already heavily discounted listing price on their first day of trading yesterday, after the government forced the regional bank to shore up capital or face nationalisation. The initial public offering (IPO) of Bankia, formed from a merger between Caja Madrid and six other regional Spanish [...]
Civica raises €600m in IPO July 20, 2011 Banca Civica, a Madrid-based bank formed from the merger of four savings banks, announced the pricing of its initial public offering (IPO) at €2.70 a share, the bottom of its price range. The IPO was priced at a 60 per cent discount to the bank’s stated book value, the same as its larger rival Bankia [...]
Eurostar sales rise four per cent July 20, 2011 Sales and passenger numbers at Eurostar grew by four per cent in the first half of the year, helped by the ash cloud disruption and a rise in US travellers. Cross-Channel train operator said total sales revenues increased from £404m to £421m and passenger numbers went up by three per cent from 4.6m to 4.7m. [...]
Full Glass-Steagall back on ICB agenda July 20, 2011 FULL separation of retail and investment banks is back on the agenda for the Independent Commission on Banking (ICB), City A.M. understands. In response to an avalanche of responses to its interim report urging the ICB to reconsider a full Glass-Steagall-style separation of banking operations, the commission is considering whether it should go further than [...]
