LSE tries to turn tide on exodus of tech startups February 13, 2013 THE LONDON Stock Exchange is trying to tempt fast-growing tech firms away from Silicon Valley by launching a “high growth segment” with less onerous listing rules. The exchange said yesterday that companies with an annual growth rate of 20 per cent over three years will from next month be able to join the segment of [...]
High-frequency trading firm Getco struggles February 13, 2013 HIGH-FREQUENCY trading business Getco yesterday revealed an 82 per cent drop in profits for the first nine months of 2012 thanks to poor market conditions. The figures – the first time that the company has made its financial performance public – were contained in a filing to the US securities and exchange made as part [...]
Dow heads to highs ahead of key speech February 12, 2013 US STOCKS closed modestly higher yesterday, putting the Dow within striking distance of an all-time high, as investors looked ahead to President Barack Obama’s State of the Union address. Investors will be listening to Obama’s speech for any clues on a deal with Republicans to avert automatic spending cuts due to take effect on 1 [...]
Walgreens to raise curtain on partnership with Alliance Boots February 11, 2013 US pharmacy giant Walgreens and Alliance Boots are to meet with investors and analysts in the City tomorrow to update on the progress of its merger that will see the creation the world’s largest pharmacy group. The meeting, which will be followed by a site visit to Boots’ headquarters in Nottingham, led to speculation this [...]
US markets are quiet after six weeks of gains February 11, 2013 US stocks ended a quiet session with slight moves yesterday as investors found few reasons to keep pushing shares higher following a six-week advance, though the longer-term trend was still viewed as positive. The benchmark index is up more 6.4 per cent in 2013, putting both the S&P 500 and Dow industrials near multi-year highs. [...]
BlackRock makes $55m punt on Manchester United shares January 30, 2013 INVESTMENT giant BlackRock yesterday bought eight per cent of the available shares in Manchester United football club, worth around $55m (£34.8m) at yesterday’s closing price. A filing with the US Securities and Exchange Commission reveals the New York-based company has snapped up 3.3m shares in the Old Trafford-based business. The football club completed its IPO [...]
Record-breaking United pierce £2bn barrier after share surge January 28, 2013 MANCHESTER United have become the first outfit in world sport to be valued at more than £2bn, according to Forbes, following a surge in the club’s share price. United’s $3.3bn (£2.1bn) enterprise value is 50 per cent greater than their nearest challenger, American football team Dallas Cowboys, who are worth $2.1bn (£1.3bn) according to the [...]
Wandisco leads the way for UK technology flotations January 24, 2013 We have already seen the likes of Luxfer, Edwards and Manchester United list in New York when they might have been expected to grace the London flotation markets. Now there are rumblings that Intelligent Energy, a clean energy technology, might look overseas for a listing if it chooses to go for one. And my fellow [...]
Wall St inches higher despite Apple’s plunge January 24, 2013 THE smallest of gains gave the Standard & Poor’s 500 its seventh straight winning day yesterday, but the index failed to hold above the 1,500 line, restrained by Apple’s worst day in more than four years. Apple slid 12.4 per cent to $450.50 a day after it posted revenue that missed Wall Street’s forecast as [...]
BlackRock sees profits surge on equity demand January 17, 2013 FUND titan BlackRock soared to a three year share price high yesterday after posting a 24 per cent increase in profits, led by high demand for its exchange traded funds (ETFs). The New York based money manager, the world’s biggest with $3.8 trillion of assets under management, attracted $47bn of extra cash from investors in [...]