Alibaba moves into smartphone market with £400m investment February 9, 2015 Chinese e-commerce giant Alibaba has bought a $590m (£388m) minority stake in Chinese smartphone maker Meizu. The move signals Alibaba’s first major foray into smartphone hardware as it looks to build a platform for its YunOS mobile operating system. In a joint statement, the two companies said they will collaborate “to achieve [...]
Obituary John Whitehead February 8, 2015 John Whitehead, a former senior partner and co-chairman of Goldman Sachs who helped make it a top-tier Wall Street firm and led its international expansion, has died, the investment bank said. He was 92. Whitehead joined Goldman Sachs in 1947 and worked his way to the highest rung of its corporate ladder before leaving after [...]
Yelp share price crushed as investors give slow growth a bad rating February 6, 2015 Yelp’s share price has crashed in early morning trading on the New York stock exchange, even after the business ratings service announced its first ever annual profit on Thursday. Stock in the San Francisco-based company is down by almost 20 per cent, at a price lower than $47 per share. Yelp's shares ended [...]
Twitter share price soars following massive increase in revenue February 6, 2015 Twitter’s share price is soaring in early trading on the New York Stock Exchange. Investors have shrugged off any concerns about slow growth in monthly active users and are instead being swayed by fourth-quarter revenue that came in ahead of expectations. Revenue at the social media company reached $479m (£314m) for the [...]
Singapore fund boosts stake in TV firm Nielsen February 5, 2015 SINGAPORE’S sovereign wealth fund GIC has increased its stake in data company Nielsen, and now holds five per cent of the firm’s common stock. According to a US Securities and Exchange Commission filing, the stake comprises of 18,788,010 shares, which has a market value of $16.7bn (£10.9bn). The amount paid by GIC to increase its [...]
Door and window manufacturer Eurocell unveils London listing… February 4, 2015 EUROCELL yesterday became the latest small company to announce its intention to sell shares to public investors and list on the London Stock Exchange. The Romford-based company, which specialises in the creation of PVC windows and doors, is owned by H2 Equity Partners, a private equity group, which is looking to sell off some of [...]
LendInvest IPO: P2P mortgage firm hoping to be City’s first public crowdfunding site February 2, 2015 Peer-to-peer (P2P) mortgage firm LendInvest is hoping to be the first crowdfunding business to list on the London Stock Exchange with plans afoot for its debut in the next 12 months. The group’s chief executive Christian Faes told City A.M. that while the business has yet to appoint bankers to work on it, he said [...]
Shake Shack share price goes supersize on stock exchange debut January 30, 2015 Shake Shack's share price has gone supersize on its stock market debut, rising almost 150 per cent from its initial public offering price of $21 per share. Shares in the fast food chain are trading at around $48.5 per share on the New York Stock Exchange under the ticker symbol "SHAK", valuing the company at more [...]
Alibaba’s growth misses target making Yahoo investors groan January 29, 2015 ONLINE media group Yahoo, one of Alibaba’s largest shareholders, saw its shares tumble 5.8 per cent yesterday after the Chinese e-commerce giant reported slower than expected growth. Alibaba’s revenue rose 40 per cent to $4.22bn (£2.8bn) in the quarter to the end of December, but missed analyst’s expectations of $4.45bn, sending its shares down 8.8 [...]
Microsoft share price plummets 10pc after profits fall January 27, 2015 Microsoft’s share price has plummeted almost 10 per cent in morning trading on the New York Stock Exchange, after profits fell in the second quarter. Shares opened at $42.96 after closing at $47.18 on Monday night. In its earnings report for the quarter ended 31 December 2014, the company revealed a 10.6 per [...]