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 [...]
Mr Men exchange market wisdom September 25, 2013 CHINA’S online shopping giant Alibaba has dumped Hong Kong in favour of New York for its upcoming initial public offering, but it seems that the Hong Kong stock exchange’s boss is remaining philosophical about his market’s way of doing things. While we’re used to bulls and bears in the financial world, more unusual are Charles [...]
Alibaba looks to US after Hong Kong talks end September 25, 2013 CHINESE e-commerce giant Alibaba Group Holding Ltd will pursue an initial public offering (IPO) in the US after talks with Hong Kong regulators broke down, a move bound to set off a dogfight between the two main US stock boards for the offering. The loss of the sale, which bankers have estimated to be worth [...]
Twitter leans toward NYSE September 24, 2013 TWITTER is leaning towards picking the New York Stock Exchange over Nasdaq for its highly-anticipated initial public offering, a person familiar with the matter said yesterday. A report earlier said Twitter had already chosen the NYSE, but sources close to the exchanges believe Twitter is yet to make its mind up. Big Board parent NYSE [...]
Winklevoss twins can see Bitcoin becoming a country’s currency September 17, 2013 CAMERON and Tyler Winklevoss, currently making headlines with plans to launch a Bitcoin fund, claimed yesterday that they could see the digital currency becoming a country’s official money. “The next step for Bitcoin is potentially becoming the currency of a country,” Tyler Winklevoss said. The twin brothers, famous for their history with Facebook, were speaking [...]
New York Report: Expectation of modest taper lifts US shares September 17, 2013 US STOCKS advanced yesterday on expectations the Federal Reserve will make only moderate changes to its stimulus that has been highly supportive of stocks and other assets at the conclusion of its two-day meeting tonight. The policy-setting Federal Open Market Committee began meeting yesterday to discuss whether to trim its bond purchases, also known as [...]
Glitches could lead Twitter to shun Nasdaq September 15, 2013 SOCIAL network giant Twitter is likely to favour a listing on the New York Stock Exchange (NYSE) over the Nasdaq on the back of glitches and problems with the exchange that marred Facebook’s initial public offering (IPO). Confidence in the Nasdaq is low after the stock exchange has faced a spate of technical glitches in [...]
New York Report: US stocks lifted as China posts upbeat data September 9, 2013 US STOCKS closed sharply higher yesterday, with the Nasdaq ending at its highest level since September 2000, as upbeat data from China boosted optimism about the health of the global economy. Sentiment was also lifted by merger activity and easing concerns about a potential Western-led strike on Syria. The S&P 500 closed higher for a [...]
Phones 4u sells off UK’s biggest mobile phone insurer for $160m September 5, 2013 HIGH STREET retailer Phones 4u yesterday dialled up a £100m deal to sell the UK’s biggest mobile insurer to a Wall Street-listed insurance giant. The phone shop’s parent company, Phones 4u Finance, will sell Crewe-based Lifestyle Services Group (LSG) to Assurant for $160m (£107m) after being approached by Assurant to buy the business earlier this [...]