Google to buy Motorola Mobility for £7.6bn August 15, 2011 Google Inc said it will buy Motorola Mobility Holdings for about $12.5bn (£7.6bn) in cash. The Mobility business includes Motorola’s smartphones and analysts are seeing the move as part of Google’s plans to take on Apple in the lucrative market. The $40 a share offer is at a 63 per cent premium to Motorola Mobility’s [...]
Stocks dive again as worries return August 10, 2011 Fear returned to Wall Street yesterday, sending the S&P 500 to another four per cent decline, triggered by worries that Europe’s debt crisis could engulf French banks and spill onto the US financial sector. Trading was once again marked by sharp moves on heavy volume. For a fifth straight day, the Dow industrials fluctuated in [...]
NYSE invokes special rule to calm markets August 10, 2011 The New York Stock Exchange and NYSE Amex Cash Markets have invoked a rule to smooth trading at the market open, as futures pointed to a sharp drop in the major indexes. Rule 48 allows the exchange to suspend price indications that help determine the floor price at the open during regular sessions. Bypassing the [...]
Wall St rebounds after volatile day August 9, 2011 US stocks rallied yesterday in a volatile session as investors struggled to decipher the Fed’s signals on the economy after a dizzying two-week slide. Buying accelerated into the close and the S&P 500 posted its best day in more than two years, following a drop of nearly 17 per cent over the past weeks. The [...]
US stocks plunge after panic selling August 8, 2011 US stocks plunged on yesterday, taking the S&P 500 down more than six per cent on growing fears of a recession, exacerbated by the loss of the country’s pristine triple-A credit rating. Panicked selling on heavy volume resulted in the S&P 500’s worst day since December 2008, with every stock in the benchmark index ending [...]
Buffett unit bids £2bn for Transatlantic August 7, 2011 A UNIT of Warren Buffett’s Berkshire Hathaway jumped into the bidding war over Transatlantic Holdings, offering to buy the reinsurer for $3.24bn (£1.98bn). Transatlantic’s board said yesterday it would “carefully consider and evaluate” the $52-per-share offer by Berkshire unit National Indemnity. Buffett’s bid tops two rival offers put before Transatlantic. Transatlantic has an agreement to [...]
Blackstone buys Emdeon August 4, 2011 Healthcare IT provider Emdeon has agreed to be taken private for $3bn (£1.84bn) by Blackstone, the latest in a slew of private equity deals in the healthcare space. The offer of $19 per Emdeon share represents a 17 per cent premium to Emdeon’s Wednesday close of $16.25 on the New York Stock Exchange.
Wall St sees worst selloff in two years August 4, 2011 Investors fled Wall Street yesterday in the worst stock-market selloff since the depths of the recession in early 2009, in what has turned into a full-fledged correction. The Dow and the S&P tumbled more than four per cent and the Nasdaq lost five per cent on fears that the US is staring at another recession [...]
Wall Street slides on manufacturing August 1, 2011 THE S&P 500 fell for a sixth day yesterday as time runs out for the government to pass a deal to avoid default and the economy showed further signs of stalling. The market pared losses late in the day before Congress was expected to vote on a debt deal backed by the White House, which [...]
CITY MOVES | WHO’S SWITCHING JOBS July 26, 2011 Cushman & Wakefield The world’s largest privately-held commercial real estate services firm has appointed Sophie Hodges as consulting manager in its Europe, Middle East and Asia business consulting team. Hodges rejoins from Ernst & Young, having previously worked at Cushman & Wakefield as a client solutions consultant from 2007 to 2009. In her new role [...]