From the UK general election to Greek debt fears it was an obstacle course for cross-border IPOs in 2015 December 15, 2015 It may have been the year of the mega deal, but the capital markets have suffered in 2015, and it’s been a decidedly poor year for cross-border IPOs. Fears over China’s growth, elections, referendums, and defaults in Europe, as well as uncertainty over the Fed’s rate hike all contributed to a 39 per cent drop [...]
Good health cheers Dow at month’s start – New York Report December 1, 2015 Health and consumer shares bounced back yesterday while car sales suggested upbeat growth in November, giving the markets a positive start to December. The Dow Jones industrial average rose 168.43 points, or 0.95 per cent, to 17,888.35, the S&P 500 gained 22.22 points, or 1.07 per cent, to 2,102.63 and the Nasdaq Composite added 47.64 [...]
Viagra-maker Pfizer and Allergan will create the world’s largest pharma company after $160bn merger given formal go-ahead November 23, 2015 The largest pharma deal ever has been given the green light by the companies' respective directors after the boards of Pfizer and Allergan met yesterday to discuss the $160bn (£106bn) merger. The merger met with unanimous approval from the boards of Viagra-maker Pfizer, and Ireland-based Allergan, which manufactures Botox, and values Allergan at around $160bn, or $363.63 a [...]
Nike share prices jumps as sportswear giant announces $12bn share buyback programme and dividend increase November 20, 2015 Nike's share price opened five per cent higher on the New York Stock Exchange today after the sportswear titan announced it would be hiking its dividend by 14 per cent. Investors, also cheered by a $12bn (£7.9bn) share buyback programme and a two-for-one stock split, reacted with gusto to the new 32 cents per share [...]
Square IPO pop: Jack Dorsey’s shares soar 50pc on market debut calming tech bubble fears after low pricing November 19, 2015 Shares in US mobile payments company Square have made a spectacular debut, with shares opening at $11.20 on the New York Stock Exchange, 24 per cent above its initial pricing. They rocketed as much as 50 per cent, surpassing the $14 mark, before falling back down in afternoon trading to close at $13.16. The startup founded by [...]
Pfizer and Allergan speed up $150bn mega-merger talks November 19, 2015 Pfizer has hastened discussions with Allergan over a potential acquisition, according to reports. Ireland-base Allergan confirmed at the end of last month it was in talks to join forces with its US rival, but according to a source close to the matter the decision making process has picked up pace. Pfizer is said to be [...]
Villains of finance: How the world’s most infamous crooks tricked investors – and the tell-tale signs of ponzi schemes November 19, 2015 Victims of the biggest ever Ponzi scheme – Bernie Madoff’s $65bn (£43bn) fraud – are finally getting their money back after seven years, as another tranche of payouts is approved by US courts. The saga is not over yet, as an upcoming film called “Wizard of Lies” will shine a light on the story, starring [...]
Ladies who don’t lunch: Lady Barbara Judge talks first impressions and why moderation is boring November 19, 2015 Ping! A reply from Lady Barbara Judge drops in my inbox, exactly 15 minutes after I sent over an email asking her whether she would be available for a “ladies lunch”. “Dear Maike I would be glad to do it. The problem is to find a date. With best regards, Barbara.” Surprised and pleased at [...]
Paris attacks 2015: US markets open marginally higher November 16, 2015 US stock markets traded mostly higher on opening on Monday, helped by oil prices, following on from terror attacks in Paris on Friday that had caused Asian and European markets to fall on opening. The Dow Jones Industrial Average was 0.26 per cent up at 17,290 points as markets opened, while the S&P 500 was 0.32 per cent [...]
Megabrew is here: Now that SABMiller and AB InBev have reached a deal the real hangover begins November 11, 2015 Anheuser-Busch InBev’s £71bn takeover of SABMiller, the biggest ever British corporate merger, is poised to leave a bitter taste in the mouth with thousands of job cuts, a de-listing from the London Stock Exchange and the shuttering of SAB’s Mayfair offices all in the pipeline. AB InBev said the deal, confirmed yesterday, will result in $1.4bn (£920m) in efficiency [...]