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 [...]
New York Report: Stocks fall as government standoff drags October 7, 2013 US stocks fell yesterday, extending two weeks of losses, as a lack of progress in ending the partial US government shutdown or the debt-ceiling standoff kept investors nervous. The S&P 500 ended near its lows of the session in a volatile day and dropped for its 10th time in the past 13 sessions. The CBOE [...]
Twitter unveils $1bn float plan October 3, 2013 TWITTER aims to raise $1bn during its initial public offering according to documents made public last night. The social network’s S1 filing, the document filed with the US Securities and Exchange commission, revealed that the company is unprofitable, and that its losses have risen 41 per cent to $69.3m during the six months ending 30 [...]
New York Report: Shares drop as stalemate in DC lingers on October 3, 2013 US STOCKS dropped yesterday as investors worried that a budget stalemate in Congress would become entangled with much more critical legislation to raise the federal borrowing limit. The standoff between congressional Democrats and Republicans to pass an emergency funding bill, which has led to a third day of a partial US government shutdown, continued with [...]
“Sell” rating for Alcoa as aluminium prices fall October 3, 2013 Deutsche Bank has downgraded its rating on Alcoa's stock from "hold" to "sell", citing lower aluminium prices over the last two quarters as the reason for doing so. Thing aren't boding too well for the world's third largest producer of aluminium, which has 40 per cent of its revenue accounted for by primary metals business. [...]
Empire State shares climb in market debut October 2, 2013 SHARES of Empire State Realty Trust, owner of the Empire State Building, climbed in their first day of trading yesterday as investors bet the marquee property will be able to attract more tenants as New York’s technology sector continues to grow. The shares, which were initially sold late Tuesday at $13 a piece, rose as [...]
Billionaire Mark Cuban heads to insider trading trial in the US September 29, 2013 MARK Cuban, the billionaire who regularly sits courtside to cheer on his Dallas Mavericks basketball team, is heading to a court of a different kind today. The showdown in US district judge Sidney Fitzwater’s courtroom in Dallas is expected to last eight to 10 days. Once there, Cuban hopes to convince a federal jury that [...]
A City pro is out to save pensions September 29, 2013 Venture capitalist Edi Truell is injecting private equity thinking to the public sector. Michael Bow hears why. THE HIGH-OCTANE arena of venture capital is not a natural fit for the sedate world of town hall pensions. But just tell that to Edi Truell, the venture capitalist tasked with shaking up London’s £4.6bn public sector pension [...]