Football flotations December 19, 2012 ■ In 1983 Tottenham became the first English football club to float on the London Stock Exchange (LSE). On 16 January this year, it was delisted by ENIC – the investment vehicle of billionaire businessman Joe Lewis. ■ Manchester United floated on the LSE in 1991 while under the chairmanship of Martin Edwards. The move [...]
US backlash grows over weapons sales December 18, 2012 WALL Street investors yesterday moved to distance themselves from America’s powerful gun industry amid growing public anger following the deadly shooting at Sandy Hook elementary school in Connecticut. In a pivotal move throwing Wall Street financiers into the heart of the US gun debate, private equity titan Cerberus Capital Management said it would sell the [...]
Wall street falls silent December 17, 2012 The floor of the New York Stock Exchange was silenced for a minute yesterday at 9.15am as traders paused to remember and mourn the victims of the Sandy Hook Elementary shootings in Connecticut. Twenty children and six adults died in the attack by a lone gunman, the second-deadliest school shooting in US history.
Banco Popular deal puts a spring in bankers’ steps December 6, 2012 THE problems of the Eurozone are far from over but some investment bankers involved in capital raising issues are hoping a type of normality is returning to their battered markets. The contrasting fortunes of two financial deals, at either end of the year, provide the backdrop to their growing confidence. At the start of 2012 [...]
Wall St ticks up as Apple stock climbs higher December 6, 2012 US stocks closed modestly higher yesterday, a day ahead of the key monthly jobs report, as a rebound in shares of Apple helped boost technology shares. Traders were reluctant to bet heavily a day before the Friday release of the November employment report. Just 5.62bn shares changed hands on US exchanges. Investors are also keeping [...]
UK firms have had mixed fortunes in the United States December 5, 2012 CADBURY SCHWEPPES Bought Dr Pepper/Seven Up in 1995. Then in 2000 bought the Snapple Group. Combined the two, but had to demerge its US fizzy drinks business by May 2008, so spun off Dr Pepper Snapple Group in a listing on the New York Stock Exchange. MARKS & SPENCER Bought the 155-store male outfitter Brooks [...]
US economic stalemate sees markets dip December 4, 2012 US stocks finished slightly lower in a quiet session yesterday as the back-and-forth wrangling over the “fiscal cliff” gave investors little reason to act. Trading volume was light as legislators continue to negotiate a deal to avoid a $600bn (£372bn) package of tax hikes and federal spending cuts that would begin 1 January and could [...]
E-currencies reach a major milestone November 28, 2012 FOR SOME, Bitcoin is an unregulated rogue currency for pornographers and drug dealers. For others, it is a victory for economic freedom, and a way of protecting business transactions from what they see as the inherent volatility of the banking system. But despite its contentiousness, the controversial e-currency is in rude health. Yesterday it reached [...]
Online shopping for an enterprising capitalist November 25, 2012 NOT many early-stage companies justify an equity research note. And few get described as “one of the most exciting growth stories in the market”. But the recently-listed Blur Group – led by Philip Letts – is deservedly attracting the right kind of attention. Only three technology firms have joined London’s Aim market this year. Blur’s [...]
Wall St trades higher ahead of Thanksgiving November 21, 2012 US stocks finished modestly higher yesterday, with the S&P 500 up for a fourth session although trading volume was one of the year’s lowest on the day ahead of the Thanksgiving holiday. Investors welcomed news that a ceasefire was declared to end the flare-up in violence between Israel and the Palestinians, though the lack of [...]