Coronavirus: New York Stock Exchange to shift fully to online trading from 23 March March 18, 2020 The New York Stock Exchange (NYSE) will temporarily close its trading floors and move fully to electronic trading from Monday, its owner Intercontinental Exchange said after an employee and a trader were tested positive for the coronavirus. They were last in the exchange building on 13 March, the company said today. The facilities to be closed [...]
HP doubles down on share buybacks as it defends against Xerox February 24, 2020 HP said today it would step up efforts to slash costs and buy back stock, as it seeks investor support to defend against a $35bn (£27bn) takeover offer from US printer maker Xerox. The announcement came after Xerox raised its cash-and-stock bid for HP earlier this month by $2 to $24 per share, ahead of [...]
Intuit to buy Credit Karma for $7.1bn February 24, 2020 Intuit said today it would buy privately held personal finance portal Credit Karma in a cash-and-stock deal for about $7.1bn (£5.5bn) as the Turbotax maker seeks to expand further into consumer finance. Credit Karma was valued at about $4bn based on its last funding round in March 2018, led by private equity firm Silver Lake. [...]
FTC demands merger data from tech giants February 11, 2020 The Federal Trade Commission (FTC) has issued special orders to Google, Amazon, Apple, Facebook and Microsoft to provide information on mergers that were too small to report to antitrust regulators, the FTC said today. The queries occur as the Justice Department, the FTC, state attorneys general and the House Judiciary Committee are investigating the big [...]
Iowa caucus: Pete Buttigieg wins Democrat vote by 0.1 per cent February 7, 2020 Pete Buttigieg narrowly won the Democrats’ presidential Iowa caucus, the state party said last night, after a long delay in releasing the results of the first contest in the race to pick a challenger to Republican President Donald Trump. Buttigieg, the moderate 38-year-old former mayor of South Bend, Indiana, edged out progressive US senator Bernie [...]
Boeing shares leap on reports the 737 Max could fly again within weeks February 6, 2020 Boeing shares surged more than three percent this afternoon on reports the troubled 737 Max passenger aircraft could fly again within weeks. US Federal Aviation Administrator Steve Dickson said on Thursday international air safety regulators were likely to agree on the design fixes needed to return the Boeing 737 Max aircraft to service. “On the [...]
$65bn Ponzi scheme king Bernie Madoff is dying, and wants to leave prison early February 6, 2020 Ponzi scheme king Bernie Madoff has said he is dying of kidney failure and has fewer than 18 months to live, and is seeking to end his 150-year prison sentence. Madoff’s lawyer said the 81-year-old is confined to a wheelchair, often requires oxygen, and suffers from cardiovascular disease, hypertension, insomnia and other chronic and serious [...]
Beazley’s annual profit balloons as premiums jump February 6, 2020 Beazley’s 2019 profit was boosted by higher insurance rates after a long period of erosion, sending the underwriter’s shares 6% higher to the top of UK’s midcap index. Beazley, part of the oldest insurance market in the world, was able to raise its premium rates last year after a string of industry-wide catastrophe claims led [...]
Republicans acquit Donald Trump in impeachment trial February 6, 2020 President Donald Trump was acquitted yesterday in his Senate impeachment trial, saved by fellow Republicans who rallied to protect him nine months before he asks voters in a deeply divided America to give him a second White House term. The businessman-turned-politician, 73, survived only the third presidential impeachment trial in U.S. history – just like [...]
Nightmare: Casper Sleep slashes IPO valuation again February 5, 2020 Casper Sleep slashed the valuation it is seeking in its initial public offering again today, as the money-losing online mattress retailer tries to lure investors in a tepid market for start-up IPOs following Wework’s debacle last year. The price cut underscores the recent mismatch between the valuations start-ups are able to achieve in private fundraising [...]
