Team GB is doing brilliantly – but the British economy isn’t August 1, 2012 JUST as some had started to worry, Team GB delivered spectacularly yesterday, thanks in no small part to Bradley Wiggins, our new sideburned national hero. GB Plc isn’t performing as well, unfortunately. Manufacturing output is shrinking disastrously. The manufacturing purchasing managers index slumped from 48.4 to 45.4 in July – its lowest level since May [...]
US stocks take a breath ahead of Fed meeting July 31, 2012 US stocks fell yesterday with traders’ sights set again on today’s Federal Reserve statement on the economy and a possible new round of stimulus. The Nasdaq, which underperformed on Monday, was the smallest decliner among the three major US stock indexes in yesterday’s session, thanks in part to Apple shares’ gain of 2.6 per cent [...]
MANCHESTER UNITED LAUNCHES US LISTING July 30, 2012 MANCHESTER United has brushed off market concerns by kicking off a $383m (£243.8m) initial public offering in the United States last night. Just a week after reports said the football club had put the brakes on its float due to lukewarm investor interest, Manchester United said in a filing it hopes to sell 16.67m Class [...]
Stocks suffer from euro fear on Wall Street July 23, 2012 US STOCKS fell for a second straight session yesterday, as Spain appeared closer to needing a national bailout and poor corporate results weighed on the market. Weak results from McDonald’s added to the cautious tone on Wall Street. Materials stocks were among the day’s weakest, hurt by across-the-board declines in commodities prices. Still, stocks ended [...]
Man Utd could list as early as next week July 19, 2012 MANCHESTER UNITED is expected to file for an initial public offering (IPO) in New York as early as next week for pricing in early August, after earlier attempts in Britain, Hong Kong and Singapore failed to reach expectations. The club had originally aimed to proceed with the listing in early September, but has moved its [...]
JP Morgan loses $4bn on trades July 13, 2012 JP Morgan Chase & Co, the biggest US bank, posted $4.4bn of losses from its “London Whale” trades, but also said some of its traders might have tried to conceal bad credit bets in the first quarter. The disclosure was the first indication the bank has made that the problems in its Chief Investment Office [...]
Fifth straight day of decline for the Dow July 11, 2012 THE DOW and the Nasdaq lost ground yesterday as minutes from the Federal Reserve’s June meeting showed policymakers are open to the idea of more economic stimulus, but that conditions might need to worsen first. The S&P 500 ended unchanged, breaking a four-day losing streak, after paring losses into the close. Technology and industrials led [...]
Global worries hit as Wall St awaits earnings July 9, 2012 STOCKS in the US slipped in light trading yesterday, weighed down by weak economic data from Asia and signs of economic trouble in Europe, underscored by higher Spanish and Italian bond yields. Yesterday’s decline, the third in a row for the S&P 500 index, comes as quarterly earnings reports get under way. Investors are anxious [...]
Wall St edges lower ahead of non-farm data July 5, 2012 US stocks edged lower yesterday as economic stimulus measures by major central banks failed to excite investors before a US jobs report expected to show tepid growth. After the S&P 500 index’s strongest three-day run this year, investors stepped back, leaving the broad index and the Dow modestly lower and the Nasdaq essentially flat. Trading [...]
Manchester United chooses NYSE for listing July 4, 2012 Manchester United has picked the New York Stock Exchange to make its stock market debut, ending months of speculation over where the world’s best-supported football club would list. After first eyeing a Hong Kong IPO, the former English Premier League champions had planned a $1bn (£638.1m) listing in Singapore in the second half of last [...]