Profits rise at ICE as it awaits its takeover of exchange rival NYSE November 5, 2013 ATLANTA-BASED InterContinental Exchange (ICE) said yesterday it expects to close its takeover of NYSE Euronext within days, and reported an eight per cent rise in third-quarter profit, helped by lower taxes and new clearing revenues. The derivatives exchange and clearing house operator said in December it would buy the owner of the New York Stock [...]
Twitter ups flotation price on huge demand November 4, 2013 INTENSE investor interest surrounding the imminent debut of Twitter has led the social media platform to boost its initial public offering (IPO) price range by 25 per cent ahead of Thursday’s highly-anticipated listing. The new price range of between $23 and $25 a share pushes Twitter up to a valuation of $17.4bn (£10.9bn) at the [...]
JQW planning £140m London public offering November 4, 2013 CHINESE e-commerce operator JQW has announced its intention to raise up to £15m in a flotation on London’s Alternative Investment Market (Aim) next month. JQW provides small and medium-sized Chinese business an online platform to advertise their products to other businesses. The company is hoping to use the funds raised to expand its business to [...]
Wall St The Week Ahead: Wall Street all a-Twitter over public offering November 3, 2013 TWITTER will be the talk of Wall Street this week when the social media company goes public in the stock market’s most anticipated initial public offering since last year’s Facebook. Twitter is expected to price its IPO on Wednesday evening and begin trading on Thursday on the New York Stock Exchange. Twitter has said it [...]
Exxon’s profit falls but output still increasing October 31, 2013 EXXON Mobil, the world’s largest publicly traded oil company, reported higher-than-expected quarterly results yesterday as output rose for the first time in more than two years, but refining weakness hurt earnings. Exxon and other large oil companies struggling to boost production in recent years have spent heavily on new projects. In the first nine months [...]
New York Report: Bernanke pulls Wall St lower with dim view October 30, 2013 US STOCKS fell yesterday, with the S&P 500 snapping a four-day streak of gains after the Federal Reserve said it had a weaker growth outlook for the economy, even as it held steady with its stimulus programme for the time being. Trading was volatile following the release of the statement, with the major US stock [...]
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. [...]