Megabrew: AB InBev and SABMiller expect to seal the deal in October August 1, 2016 Anheuser-Busch InBev's £79bn takeover of SABMiller is expected to complete on 10 October, the companies said in a statement today. The brewers unveiled the agreed, expected timetable for the merger following the satisfaction of the pre-conditions, which were completed on 29 July after getting the all-clear from Chinese authorities. It is the first time a closing date has been given [...]
London-listed broker enhances its voice in US with another acquisition July 30, 2016 London-listed Tullett Prebon has announced a new US acquisition. The interdealer broker has agreed a deal for Creditex’s US hybrid voice broking business from Intercontinental Exchange (ICE), which owns the New York Stock Exchange. The team of 14 brokers, based in New York, provides voice broking and trading services for credit derivatives. Read more: US Department of [...]
The studio behind the James Bond franchise is reportedly in talks over a £300m takeover with a US property fund July 27, 2016 The UK's legendary Pinewood Film Studios could reportedly be sold within the week to an international property fund. The studios – where films including the Harry Potter series, the most recent Star Wars film and the James Bond franchise have been filmed – could be sold for more than £300m. According to Sky News, the [...]
Philip Morris International’s share price hit as the tobacco giant chokes on earnings below analyst expectations July 19, 2016 Big Four tobacco firm Philip Morris International's (PMI) share price was down almost four per cent on the New York Stock Exchange after it missed analyst expectations in its second quarter results today. The figures The Marlboro maker's cigarette shipment volume fell 4.8 per cent compared to the second quarter of last year, to 209.3bn [...]
The biggest tech IPO of the year is here – and Line popped July 14, 2016 The biggest tech IPO of the year is here, as Line goes public in a dual listing on the Tokyo and New York stock exchanges. The Japanese messaging firm is the sixth most used messaging app in the world, boasting 218m users. Priced at $32.84, shares popped nearly 30 per cent, opening at $42 per share [...]
Walgreens Boots Alliance posts a 15 per cent slide in net earnings, sending its share price lower despite beating expectations July 6, 2016 Walgreens Boots Alliance, the company that has controlled UK high street pharmacy chain Boots since 2014, has reported analyst estimate beating results but has failed to stop a share sell off. Shares were down by over three per cent in New York following the results announcement. For the third quarter the company reported earnings per share [...]
Roar: Dragon Capital brings Vietnam investment opportunity to the world – via London July 5, 2016 The London Stock Exchange today welcomes a new entrant at a time when several firms are understood to be postponing and calling off flotations after the UK’s Brexit vote. The flagship fund of investment management company Dragon Capital, Vietnam Enterprise Investments Limited (VEIL), today begins trading on the main market with a launch price of 250p. [...]
Analysts doubt London Stock Exchange merger will go through after Brexit vote June 24, 2016 Analysts have serious doubts over the London Stock Exchange’s merger with Deutsche Boerse after the UK voted for a Brexit. The companies themselves have said they remain “fully committed” to the £21bn deal, which shareholders are being asked to approve next month. LSE shareholders are due to vote on the merger on 4 July. But [...]
This unicorn is leaping on its IPO June 23, 2016 Tech bubble? What tech bubble? Twilio shares have surged on its IPO, leaping as much as 70 per cent on its debut on the New York Stock Exchange. Shares surged as high as $25.50 after pricing at $15 per share, giving it a market capitalisation of more than $2bn Read more: These are the seven [...]
Before the bell: What you need to know before the US market open June 23, 2016 Polls are open for the UK's European Union membership vote. Markets are betting people will opt to stay however and rallying around the world. Here's what you need to know before the US market open at 2:30pm London time. In the pre-market the S&P is up by 0.95 per cent, while the Nasdaq is one per cent higher. [...]