UK drug company Acacia Pharma plans £150m flotation on London Stock Exchange September 14, 2015 The UK's life sciences sector received yet another boost this morning, when Cambridge-based drug company Acacia Pharma announced its plan to float on the London Stock Exchange next month. The firm, which specialises in developing new treatments for debilitating conditions arising from surgery, intends to sell a 25 per cent stake of the company [...]
London won’t dominate forever: These are the top five international finance centres of the future September 4, 2015 London won't dominate forever: These are the top five international finance centres of the future Every market's success depends on financial stability, infrastructure development, taxation and economic strength. At the moment, western cities such as New York and London dominate as international financial centres, but increasingly hotspots are emerging in the developing world and [...]
US markets S&P 500 and Dow Jones rebound after China crash August 25, 2015 US traders seemed to regain their optimism during the first few minutes of today's session, following a day during which markets across the pond yo-yoed wildly. The S&P 500, which ended yesterday more than three per cent down, rose more than two per cent to 1,931 .5 points in the first minutes of trading, while [...]
Middle East stock markets plummet August 23, 2015 Low global oil prices as well as a decision by credit ratings agency Fitch to cut its outlook for Saudi Arabia weighed on stock markets in the Middle East today. The Dubai Financial Market fell almost seven per cent to 3,451.48 points, while Saudi Arabia's benchmark exchange was also down seven per cent to 7,441.33 points. [...]
Bob Diamond snaps up stake in New York trading outfit South Street August 16, 2015 Former bank chief turned investor Bob Diamond has snapped up a stake in New York-based repo-trading outfit South Street Securities, diversifying his portfolio since his exit from Barclays three years ago. Diamond, who was pressured to bow out of Barclays in the wake of the Libor scandal, has been actively engaged in his emerging markets [...]
Alibaba share price plummets on disappointing revenue figures August 12, 2015 Alibaba's share price is set for a continued slump after its revenue and sales growth came in weaker than expected in the first quarter. The figures The Chinese e-commerce company's stock opened over seven per cent down on the New York Stock Exchange this morning after it reported a 28 per cent increase in revenue [...]
NY Times gets a boost from its 1m subscribers August 7, 2015 THE NEW York Times Company beat analysts’ expectations yesterday, reporting a 78.5 per cent rise in profit in the second quarter thanks to cost-cutting measures and an increase in digital advertising revenue. The company has been slashing costs and investing in its online and mobile platforms in recent months to offset falling print ad revenue, [...]
Gold price hits five-year low: Is it all over for the precious metal? July 27, 2015 With prices at five-year lows, Annabelle Williams asks whether the precious metal is truly hammered The gold price has been hammered in the last few weeks, leaving the precious metal at the lowest prices for five years. Gold took a nosedive last week when an unknown entity – with considerable power, perhaps a [...]
Ferrari moves into the fast lane with US IPO July 23, 2015 Luxury Italian sports car maker Ferrari is set to move into the fast lane after filing for an initial public offering (IPO) on the New York Stock Exchange. Read more: Fiat Chrysler to spin-off Ferrari Its parent company, Fiat Chrysler, didn't say how many shares it plans to sell or at what price however the new [...]
Twitter share price soars after hoax news story on a fake “Bloomberg” site fools investors July 14, 2015 Twitter's share price was sent soaring over eight per cent today as investors fell for a hoax news story claiming the social media network was considering a $31bn takeover. Read more: G4S share price plummets after fake press release “reveals” £400m profit overstatement The report was posted on bloomberg.market this morning; a site appearing to impersonate [...]