Investment banks in talks over possible merger with energy-focused boutique April 26, 2016 Investment banks Perella Weinberg and Tudor, Pickering, Holt and Co are understood to be in talks over a possible merger. New York-based Perella, which recently advised Deutsche Boerse on its proposed merger with the London Stock Exchange, is the bigger of the two banks. Tudor, Pickering, Holt and Co is an energy-focused boutique bank based in Houston, Texas. [...]
Investors race to McDonald’s as profits and share price jumps on first quarter results April 22, 2016 Hungry investors went large on their orders of McDonald’s this morning, hauling the world’s most famous fast food brand up by two per cent in pre-market trading after checking out some impressive first quarter results. McDonald’s worldwide revenues came in at a tasty $5.9bn (£4.1bn) for the three months to March. That was slightly slimmer [...]
Brexit vote could not see merged London Stock Exchange group’s headquarters moved from UK to Germany, sources close to deal confirm April 17, 2016 Sources close to the London Stock Exchange-Deutsche Boerse deal have dismissed the prospect of the merged company having its headquarters outside of the UK in the event of a Brexit. Under the terms of the proposed £21bn merger, set out last month, the headquarters of the holding company, UK TopCo, would be based in London. An [...]
US oil producer Goodrich Petroleum files for voluntary Chapter 11 restructuring April 15, 2016 Another US oil producer has been forced to file for bankruptcy protection under Chapter 11 this week as energy companies struggle amid low oil and gas prices. Houston-based Goodrich Petroleum filed for voluntary restructuring today to cut around $400m (£282m) debt from its balance sheet, leaving behind just $40m in debt related to a first lien reserve based loan [...]
Fitbit shares are on the move after a Wall Street analyst said this April 13, 2016 Shares in Fitbit have climbed after getting a bump from Wall Street analysts on Wednesday. Citigroup analysts raised revenue estimates for the fitness tracker firm which went public last year. Shares were up more than 10 per cent on the New York stock exchange. The analyst put a price target of $30, reiterating its buy rating, and said its stock [...]
New York Stock Exchange owner secures financing for £10bn London Stock Exchange takeover bid to rival proposed Deutsche Boerse merger April 4, 2016 The Intercontinental Exchange (ICE) is understood to have secured funding for a £10bn takeover bid for the London Stock Exchange (LSE). ICE, which owns the New York Stock Exchange, confirmed it was considering a bid in early March shortly after the LSE said it was in merger talks with Deutsche Boerse. The LSE and Deutsche [...]
Twitter 10-year birthday: A short history of Twitter and where is right now at 10 March 20, 2016 There have been uprisings (the Arab Spring), numerous faux pas (hello Ed Balls), and global events (World Cup anyone?) experienced together, but it was only 10 years ago when Jack Dorsey, Twitter co-founder and current chief executive, published the first ever tweet that changed the way we communicate – "Just setting up my Twttr". Since [...]
London Stock Exchange and Deutsche Boerse set to tell shareholders how proposed £20bn merger will save hundreds of millions March 13, 2016 The London Stock Exchange and Deutsche Boerse are this week set to tell shareholders how their proposed £20bn merger would save hundreds of millions of pounds. They are also expected to announce that LSE chairman Donald Brydon would stand down from the same position of the merged group after three years. City A.M. understands savings, as a [...]
London Stock Exchange chief executive Xavier Rolet could take home £16m from a deal with Deutsche Boerse March 7, 2016 London Stock Exchange Group chief executive Xavier Rolet could walk away with £16m if the London operator's proposed merger with Frankfurt-based Deutsche Boerse is successful. LSE revealed last month that it was in merger talks with Deutsche Boerse in a bid to create a dominant European exchange operator. The two exchanges confirmed that Rolet will step down [...]
Old Mutual could be broken up amid private equity takeover bids March 6, 2016 Old Mutual, the FTSE 100 insurance group, is reviewing options for a breakup following a joint takeover attempt for its wealth management division from private equity firms Cinven and Warburg Pincus. A breakup is one option being considered in a review of Old Mutual’s operations, and an update will be given on Friday along with [...]