Man United nets record income after growing sponsorship cash November 14, 2012 MANCHESTER United last night announced record revenues, allowing the football club to pay down some of the debt that has bedeviled it since 2005. The team play away at Norwich City this weekend but yesterday’s trading update was issued in the very different world of Wall Street, following the club’s August IPO on the New [...]
Starbucks snaps up Teavana November 14, 2012 Starbucks plans to acquire tea store operator Teavana Holdings for $620m (£391m) in cash, furthering its push beyond its flagship coffee business. Starbucks, the world’s largest coffee shop operator, said it will pay $15.50 per share in cash for Teavana, a 54 per cent premium to the firm’s closing price on the New York Stock [...]
Retail bump fails to curb a fall on Wall St November 13, 2012 US stocks sold off late in the session yesterday, led by a slide in Microsoft shares, though retailers were a notable bright spot after Home Depot raised its outlook. Microsoft was the most actively traded on Nasdaq, weighing on the tech-heavy Nasdaq Composite after the surprising departure of a key executive. The stock fell 3.2 [...]
Hoare Govett owner Jefferies sold in $3.6bn share deal November 12, 2012 INVESTMENT bank Jefferies, owner of UK corporate broker Hoare Govett, yesterday said it will merge with one of its largest shareholders, US holding group Leucadia National Corporation, in a deal valued at $3.6bn (£2.9bn). The bank, which has its European headquarters in the City, has agreed to approve an all share deal giving shareholders 0.81 [...]
Wall st plunges on fears over US economy November 7, 2012 THE Dow industrials lost more than 300 points in a sell-off yesterday that drove all major US stock indexes down over two per cent in the wake of the presidential election as the looming “fiscal cliff” debate and Europe’s economic troubles returned to the forefront. The Standard & Poor’s 500 Index posted its biggest daily [...]
NYSE Euronext profits fall amid trading slump November 6, 2012 THE OWNER of the New York Stock Exchange yesterday announced that net income fell by 42 per cent to $108m (£67.6m) in the third quarter, despite continued efforts to cut costs. NYSE Euronext has been hit by substantial declines in derivatives activity in its key New York, London and Paris markets. Equity trading volume in [...]
US shares rise in light trade as vote looms November 5, 2012 US stocks advanced modestly yesterday in light trading in one of the year’s quietest sessions on the day before the US presidential election. Whatever the outcome of the race between incumbent President Barack Obama and Republican challenger Mitt Romney, the election’s resolution will finally end the uncertainty that has kept the market stagnant for the [...]
Consumer and jobs data sees equities leap November 1, 2012 THE S&P 500 scored its best day in seven weeks yesterday as bullish consumer confidence and private-sector jobs data gave investors reason to cheer following superstorm Sandy’s devastating sweep through the US Northeast. Technology and materials sector shares led the advance in a day of mostly average volume. About 6.7bn shares changed hands on the [...]
New York climbs back to life as markets reopen October 31, 2012 THE NEW York Stock exchange re-opened yesterday after a two-day closure caused by Hurricane Sandy. Although much of the city remained without power, and a severely reduced transport system was in place, New York’s financial hub returned to life with many returning to work despite offices relying on backup power. After New York’s mayor Michael [...]
After the storm October 30, 2012 ■ Stock markets set to re-open today ■ New York may be without power for days ■ Obama and Romney halt campaign events NEW YORK began to pick up the pieces of Hurricane Sandy’s aftermath last night, after Wall Street was brought to a standstill for a second consecutive day. Millions still face power outages [...]