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 [...]
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 [...]