What the other papers say this morning – 30 October 2013 October 29, 2013 FINANCIAL TIMES Whitehall slow to pay suppliers Ministers are breaching their own rules on paying government suppliers, according to figures seen by the Financial Times. EU rules say departments must pay firms that have supplied them within 30 days. The Ministry of Defence has had to pay £21,000 in the last year because of late [...]
Profits rise for Burger King as costs drop 90pc October 28, 2013 BURGER King Worldwide, known for its Whopper hamburgers, yesterday said it plans to introduce fewer seasonal and limited-time menu items in a bid to help restaurant operators improve profits and speed up service. Burger King, which reported a better-than expected third-quarter profit, has recently added a string of attention-getting products ranging from bacon sundaes and [...]
New York Stock Exchange runs trial as Twitter flotation nears October 28, 2013 TWITTER took part in a test run of its highly anticipated market debut on the New York Stock Exchange (NYSE) over the weekend, ahead of the real event which is expected to take place on 7 November. The simulated initial public offering (IPO) – the first trial of its kind on the NYSE – was [...]
City Matters: Tangible steps forward in the UK-China relationship will deliver real benefits October 20, 2013 WITH both George Osborne and Boris Johnson flying the flag for British business in China last week, it is worth taking stock of this increasingly important UK-Sino relationship. As the government rightly recognises, the UK and London need to be plugged into fast-growing global markets like China in order to succeed in the global race. [...]
Inside Track: Let’s not overstate London’s appeal for tech flotations October 17, 2013 There’s nothing wrong at all with recently-floated technology companies like Macromac, Netscientific or Centralnic. These three groups, plus 18 others, have all floated on the London stock market over the course of the year and form part of the backdrop to a generally improving climate for flotations and fund-raisings in this city. But they do [...]
New York Report: S&P hits record high as US deal cheers investors October 17, 2013 THE S&P 500 closed at a record high yesterday as investor confidence grew following a last-minute deal to avoid a US default, but weaker-than-expected results from heavyweights IBM and Goldman Sachs pressured the Dow. The S&P 500’s intraday record of 1732.92 broke the all-time high set 19 September. Over 80 per cent of stocks traded [...]
Tech champion says London is equal to New York for flotations October 16, 2013 LONDON has reached parity with New York when it comes to opportunities for companies seeking to float, according to Tech City chief Joanna Shields, despite UK gaming giant King’s decision last month to list in the US. “I think the conditions are right… I think we have parity. In many ways we’re competitively advantaged over [...]
New York Report: Wall St soars as Washington nears debt deal October 16, 2013 US stocks closed more than one per cent higher yesterday after Senate leaders said they had a deal to reopen the federal government and raise the debt ceiling, which would avoid the threat of a debt default. US Senate majority leader Harry Reid and Senate republican leader Mitch McConnell said senators had come to an [...]
Twitter picks NYSE for float October 15, 2013 TWITTER said last night it will list on the New York Stock Exchange, dealing a blow to the Nasdaq, which traditionally handle banner tech floats. The social network also showed that it kept up its pace of revenue and user expansion in the just-ended third quarter, and it is now set to kick off its [...]
New York Report: Default worry preoccupies US markets October 15, 2013 US stocks fell in a volatile session yesterday as the impasse over the debt ceiling in Washington continued with very little sign of progress towards a resolution. Despite some key corporate earnings, traders held off on making big bets given the political uncertainty. Selling accelerated during the afternoon after Senator Richard Durbin said Senate negotiations [...]