Cardiff City FC mull plan for a stock market float August 11, 2013 FORMER ENRC chairman Mehmet Dalman is pushing forward with plans to take newly promoted Cardiff City Football Club onto the stock market. The Square Mile veteran, who is chairman at the club, is understood to have met with capital market bankers to discuss plans for the club, which could include a market float. Hong Kong [...]
New York Report: Microsoft’s rise helps lead US shares higher August 8, 2013 US stocks advanced yesterday, snapping a three-day losing skid as a rally in Microsoft helped lift the technology sector. The three major US stock indexes all managed to shake off early losses as Microsoft shares climbed. The stock closed up 2.6 per cent at $32.89 in heavy volume. The S&P information technology sector index rose [...]
New York Report: Slow day on Wall Street as shares decline August 5, 2013 THE DOW and the S&P 500 dipped yesterday in the thinnest volume so far this year, following their record closing highs last week as a lack of major news left the market directionless. Although about 100 companies in the S&P 500 are still scheduled to report earnings, the season is winding down sharply after last [...]
Cuts lift NYSE Euronext earnings July 30, 2013 NYSE EURONEXT, which is being bought for $8.2bn (£5.4bn) by IntercontinentalExchange, yesterday reported a 38 per cent rise in second-quarter earnings, helped by cost cuts and one-off gains. The New York Stock Exchange’s parent said net income was $173m, or 71 cents a diluted share, compared with $125m, or 49 cents a share, a year [...]
Fed goes after Wall St giant July 25, 2013 US FEDERAL prosecutors yesterday criminally indicted a top Wall Street hedge fund over allegations that years of spectacular performance were partly based on insider trading. SAC Capital Advisors was charged by a court in New York on four counts of securities fraud and one count of wire fraud following a seven-year investigation by regulators. No [...]
Amex sees its earnings rise on higher fees July 17, 2013 CREDIT card company American Express reported a five per cent increase in quarterly profit as it charged higher fees and earned more commissions on its cards. American Express, which gets the bulk of its US billed business from affluent corporate customers, said cardmember spending increased eight per cent in the quarter, adjusted for foreign currency [...]
KKR in bumper bonus payout to co-founders February 24, 2013 THE FOUNDERS of private equity giant KKR pocketed a $34m (£22.5m) bonus and $100m share award each last year after a bumper 12 months for the New York-based firm, regulatory filings show. Cousins Henry Kravis and George Roberts – who founded the buyout shop with Jerome Kohlberg in 1976 – received a base salary of [...]
Man Utd CEO steps down February 21, 2013 FORMER JP Morgan banker Ed Woodward will take control of Manchester United this summer, replacing long-serving chief executive David Gill. Woodward helped the Glazer family with their purchase of the club in a £790m leveraged takeover in 2005 before joining the club shortly afterwards. Gill piloted the club through a difficult period which saw regular [...]
US startup incubator TechStars moves into Silicon Roundabout February 21, 2013 A COLORADO-BASED firm that nurtures technology startups has made its first move out of the US by launching in London. TechStars will launch a programme designed to help 20 small businesses develop, allowing them €85,000 (£74,000) made up of funding and convertible debt each. The startups will also receive mentoring from successful British technology startups [...]
Wall St drops as Fed minutes spark concern February 21, 2013 US stocks fell the most in three months and a key gauge of market volatility spiked yesterday after minutes from the US Federal Reserve’s most recent meeting suggested the central bank may slow or stop buying bonds sooner than expected. The minutes from the Fed’s January meeting showed many officials voiced concern last month over [...]