Graff Diamond’s Hong Kong adventure ends in disaster May 31, 2012 IN an ideal world, ahead of the Jubilee weekend, we would now be looking forward to the listing of Graff Diamonds shares in London. Graff’s history is London through and through. Founder Laurence Graff started as a jewellery apprentice here in 1950 and then 12 years later opened his first two stores in the capital. [...]
Hopes of euro bailout lift stocks as Facebook dives May 29, 2012 US stocks rose yesterday as signs Greece would stay in the Eurozone were enough to spark buying in what has been a weak month for equities, while Facebook plumbed new lows on high volume. Wall Street has swung back and forth on shifting signals coming out of Europe. More than three issues rose for every [...]
The Facebook debacle deserves a reaction from London May 28, 2012 THE controversies surrounding the historic $104bn flotation of Facebook in the US should have reminded all of us that although the New York financial markets may currently be the place to go for technology flotations, they are not infallible. What is disappointing is that with so much wrangling about how the float was handled, very [...]
Investors have chance to snap up photo agency Getty Images May 22, 2012 PHOTO agency Getty Images could be on the market after its owners appointed advisers to consider a potential sale or IPO. Hellman & Friedman, the US private equity fund which bought the business for $2.4bn (£1.5bn) four years ago, is understood to be working with Goldman Sachs and JP Morgan Chase to help it decide whether [...]
Borrows set to reign at 3i after Queen leaves May 13, 2012 TOP City rainmaker Simon Borrows is set to be named this week as chief executive of 3i, Britain’s oldest private equity firm. Borrows, who joined as chief investment officer last summer, will take over from Michael Queen, who in March announced his intention to step down. The promotion of Borrows will surprise few in the [...]
Lingering euro worries weigh on Wall Street May 9, 2012 U S stocks fell for the fifth day in six yesterday as investors kept their focus on the turmoil in Europe, but news that Greece will receive its latest debt bailout payment helped cut losses late in the session. In the afternoon the Nasdaq briefly turned positive and the S&P rose to break-even after news [...]
NEW YORK REPORT May 7, 2012 INVESTORS brushed off Europe’s election results yesterday, as the S&P 500 rebounded from early losses to end nearly unchanged yesterday, despite the uncertainty surrounding the Eurozone’s ability to tackle its debt crisis. US financial stocks, normally highly sensitive to events that could unsettle the Eurozone’s fiscal stability, were not only the biggest gainers, but had [...]
The Hindenburg Omen isn’t a hit May 7, 2012 NAMES for technical indicators don’t get much more dramatic than the Hindenburg Omen – simultaneously referencing the German airship tragedy of 1937 in which 36 people lost their lives and bringing to mind haunting visions of the psychotic Damien from the infamous horror film, the Omen. Chris Beauchamp, market analyst at IG Markets, believes a [...]
Chesapeake set for probe May 2, 2012 US Senator Bill Nelson plans to ask the Justice Department to investigate Chesapeake Energy Corp for potential fraud and price manipulation, an aide to the lawmaker said. Chesapeake shares fell nearly 15 per cent to close at $16.74 on the New York Stock Exchange, their largest decline in over three years.
Dow ends at highest level in four years May 1, 2012 THE Dow closed at its highest level in more than four years yesterday after US manufacturing expanded at a faster pace than expected in April, easing jitters about a slowdown in the economic recovery. The Dow Jones industrial average gained 65.69 points, or 0.50 per cent, to 13,279.32 at the close. The Standard & Poor’s [...]