United share price boosted by £750m kit deal windfall July 14, 2014 MANCHESTER United’s share price surged yesterday following confirmation of the Premier League club’s record-breaking £750m shirt deal with German sportswear giant Adidas. The 10-year agreement, which takes effect from the 2015-16 season, is the most lucrative of its kind in any sport and worth more than double any other shirt deal in football. United’s share [...]
Sheer satisfaction: Zendesk founder Mikkel Svane on providing better customer service July 13, 2014 Harriet Green talks IPOs, big data and radical taxis with Zendesk’s founder Mikkel Svane. An O2 survey last year found that 70 per cent of people wouldn’t forgive a company for bad customer service. Two thirds also said they’d share their experience with an average of eight friends and family members. Mikkel [...]
PokerStars boss David Baazov mulls secondary London listing July 7, 2014 The boss of the world’s biggest-listed online gambling group yesterday flagged his interest in a secondary listing in London or New York. David Baazov, chief executive and chairman of Canadian-quoted Amaya Gaming, said the business was plotting a dual listing in future. He added he was weighing floating shares either on the London Stock Exchange [...]
New York Report: Dow breaks 17,000 barrier July 3, 2014 The Dow Jones Industrial Average yesterday smashed through 17,000 points for the first time ever in intraday trading, after an encouraging report on US job creation helped to reassure investors that economic growth could support stock benchmarks at all-time highs. The Dow rose 0.41 per cent, to 17,045.43, the S&P 500 index was up 0.6 [...]
Barclays’ Antony Jenkins must show dealmakers some love June 30, 2014 On the day that Barclays felt the full brunt of allegations about its so-called “dark pools” from a New York attorney general, its corporate finance arm in Europe was reporting a significant success. The London Stock Exchange (LSE) announced a merger deal and with it a near £1bn rights issue, solely underwritten by Barclays. This [...]
London Stock Exchange to buy Russell Investments for £1.6bn June 26, 2014 The London Stock Exchange went on the front foot yesterday to clinch the group’s biggest takeover in its 200-year history, landing a £1.6bn deal to challenge the dominance of its US rivals. The group will buy American index provider Russell Investments from Northwestern Mutual Insurance Company, after beating New York-based rival MSCI in a hotly [...]
Alibaba picks NYSE over Nasdaq June 26, 2014 CHINESE e-commerce group Alibaba has decided to list on the New York Stock Exchange (NYSE) where it is expected to raise up to $20bn (£11.7bn) in one of the largest US technology floats. Alibaba, which handles over 80 per cent of online retail transactions in the world’s second-largest economy, will list under the ticker “BABA” [...]
Barclays’ Antony Jenkins under fire as share price plunges 6.52 per cent June 26, 2014 Barclays shares dived yesterday as shareholders panicked that the lender could face another huge legal bill over claims it lied to investors using its dark pool trading facilities. It is the latest in a series of scandals hitting the bank, and these claims are particularly damaging as the alleged wrongdoing occurred on the [...]
London Report: FTSE flat as Barclays fall is countered by housebuilder climbs June 26, 2014 BARCLAYS Bank’s shares plummeted 6.5 per cent yesterday as the FTSE index ended flat despite a rally in housebuilders on Bank of England comments. The FTSE 100 closed on 6,735.12 up 0.02 per cent or 1.5 points. The market was also underpinned by the London Stock Exchange Group, which surged 6.1 per cent after unveiling [...]
Barclays sued for dark pool securities fraud: What is a dark pool? June 26, 2014 Barclays in the US is being sued for fraudulent behaviour, following a complaint filed by New York attorney general Eric Schneiderman. He claimed that the bank had misrepresented the participants of its dark pool, leaving institutional investors exposed to high frequency trading “predators”. A dark pool is a covert trading location where all trades are anonymous [...]