US stocks fall in Columbus Day light trade October 8, 2012 US stocks slipped in light trading yesterday, pulling back from recent five-year highs ahead of an earnings season expected to be weak. Trading volume was the lowest so far this year in a full session as the US government and the bond market were closed for the Columbus Day holiday. About 4.1bn shares changed hands [...]
What the other papers say this morning October 4, 2012 FINANCIAL TIMES Morgan Stanley warns on Wall St pay Morgan Stanley is preparing to wield its axe again with more job cuts and smaller bonuses planned for next year as the investment bank attempts to boost shareholder returns. In the latest sign of the pressure Wall Street is under to cut costs and address high [...]
Luxfer’s New York flotation shines light on London’s listing problems October 4, 2012 Another day, and another company that has its roots firmly in the UK decides to float in the US. In the past few weeks two companies normally associated with the UK market, Manchester United and Salford-based speciality metals group Luxfer, have chosen the US financial markets to list and raise new capital. The latest figures [...]
Salford-based Luxfer lists its shares in NY October 3, 2012 LUXFER Holdings, a speciality materials group, saw its shares rise on their first day of trading on the New York Stock Exchange yesterday, reaching 17 per cent above the offer price by mid-afternoon. The group is being brought to the US market by Jefferies, which recently led the successful flotation of Manchester United in the [...]
Gordon Brown pushes button on Wall St slide September 25, 2012 GORDON Brown was fond of claiming that the financial crisis “started in America”, placing the blame for the banking collapse solely on the excesses of Wall Street. So it was something of a surprise to see him welcomed to the New York Stock Exchange yesterday morning where he joined a list of luminaries – including tennis [...]
Direct Line adds directors for IPO September 25, 2012 ■ Insurance firm Direct Line Group yesterday hired two new executives as it prepares for its impending float on the London Stock Exchange. Glyn Jones, chairman of New York-listed insurer Aspen Insurance Holdings, has been appointed as the firm’s senior independent director. Meanwhile Mark Catton, who sits on the management committee of RBS Group, has [...]
Top tech boss: London still no Silicon Valley September 23, 2012 LONDON needs to do more to nurture growth in technology firms and become an attractive destination for them to go public, the head of one of the UK’s most successful internet firms said yesterday, warning that the US is a significantly better option for blooming British companies. Michael Acton Smith, chief executive of Mind Candy, [...]
London to ease flotation rules for tech firms September 20, 2012 THE GOVERNMENT yesterday proposed relaxing rules on fast-growing businesses to float on the London Stock Exchange (LSE), in an effort to prevent British technology firms fleeing to America. Science minister David Willetts announced the plans at Google’s innovation hub in London, saying he wanted to reform rules on free float – the proportion of a [...]
Coke bottler mulls London listing plan September 18, 2012 COCA-COLA Hellenic, the Athens based soft drink bottling firm, is exploring plans to ditch its main Greek listing and reactivate its London stock listing, in a move which would shrink the Athens stock exchange volumes by a fifth. The firm last night said it was exploring “all options”, including a listing on the New York [...]
Occupy protesters mark anniversary September 18, 2012 A FEW hundred Occupy Wall Street activists gathered in New York’s financial district yesterday but police kept them well back from the New York Stock Exchange, which they had threatened to surround as part of a day of protests marking the movement’s one-year anniversary. Occupy activists had pledged to disrupt the morning commute in lower [...]