Chi-X boss covets top slot among bourses February 15, 2010 Pan-European share trading platform Chi-X Europe, Europe’s third-biggest trading platform after just three years in business, has broken into profit and aims to become Europe’s number one exchange, its new chief executive said. Chi-X has become profitable on a daily basis this year, making it the first European multilateral trading facility (MTF) to do so, [...]
Market technology firm Fidessa beats profit expectations February 15, 2010 Fidessa said competition between exchanges and new trading venues boosted demand for its systems software, enabling it to beat profit expectations and return cash to shareholders. The British IT firm, whose systems are used by brokers and banks, has benefited from a proliferation of trading venues and the increasing competition between European exchanges and multilateral [...]
Tui optimistic for summer as bookings rise February 15, 2010 TUI, owner of Europe’s largest travel company TUI Travel, was yesterday optimistic for 2009/10 as recent bookings showed holiday-makers do not want to miss out on summer breaks. “Bookings in the key source markets have improved notably in the past few weeks,” TUI said after impressing investors with a better-than-expected net loss for its fiscal [...]
Mobile firms unite to offer apps platform February 15, 2010 A GROUP of 24 telecom companies are clubbing together to build a mobile phone application platform in a bid to compete with Apple. The alliance – which includes O2, Orange and Vodafone – is hoping that its combined customer base of 3bn will allow it to steal market share from Apple’s App Store. Mobile applications [...]
Microsoft to launch new mobile service February 15, 2010 MICROSOFT boss Steve Ballmer yesterday unveiled Windows Phone 7 as the latest weapon in his fight against Google and Apple. The much-anticipated mobile operating system will start appearing on handsets in the second half of 2010, Ballmer said at Mobile World Congress, the industry’s annual trade fair. He added: “Windows Phone 7 marks a turning [...]
Accounting body sets out policy stance February 15, 2010 The world’s leading accounting standards setter yesterday bolstered its defences from political pressure and reinforced its role as an independent guide to investors rather than a tool for policymakers. The International Accounting Standards Board (IASB) sets accounting principles that are effectively law in over 100 countries but has been criticised for being aloof and slow [...]
BA shares surge on AA ruling February 15, 2010 SHARES in British Airways yesterday surged after the lucrative tie-up between the struggling carrier and potential partner American Airlines moved a step closer. The US Department of Transportation (DoT) proposed granting the Oneworld alliance immunity from anti-trust competition laws. It says the move would enhance competition within the airline industry where the SkyTeam alliance and [...]
Promethean confident of successful £500m listing February 15, 2010 EDUCATION technology company Promethean is confident of its ability to list at a market value of up to £500m in March despite a spate of aborted initial public offerings (IPOs). Research analysts from Gleacher Shacklock, Goldman Sachs and JPMorgan Cazenove began knocking on potential investors’ doors yesterday before the prospectus is published and bookbuilding begins [...]
Belgian train crash kills 18 commuters February 15, 2010 TRAINS between London and Brussels will remain suspended today, Eurostar said yesterday as an inquiry into a crash that killed at least 18 got underway. Some estimates have put the death toll from the head-on smash – which occurred ten miles south of the Belgian capital during morning rush-hour – at 25, with more than [...]
CITY MOVES | WHO’S SWITCHING JOBS February 15, 2010 HSBC Private Bank Bassem Snaije has been appointed as head of the London-based Middle East and North Africa (MENA) team at the private bank. Snaije joins from Cosmos Advisors and Pegase Partners Group in Paris, where he was a partner advising on private equity, real estate and M&A deals in the Middle East. He also [...]
