THE DOT COM WORLD June 3, 2011 ● LINKEDIN The most recent of the blockbuster dotcom IPOs, professional-networking site LinkedIn saw its share price more than double in value on its listing date of May 19. Shares rose as much as 171 per cent in the first day’s trading on the New York Stock Exchange and closed at $94.25, 109 per cent [...]
Groupon files for up to $750m IPO June 2, 2011 DISCOUNTING website Groupon has filed for an initial public offering on the New York Stock Exchange to raise up to $750m (£457m). Hot on the heels of business networking site LinkedIn, Groupon is exploiting the booming demand for internet companies on US capital markets – and their consequent high valuations. Groupon launched only in 2008 [...]
Coca-Cola considers a listing in Shanghai June 1, 2011 COCA-COLA, the world’s largest soft-drink company, said yesterday it is holding talks with the Chinese government over a possible listing in Shanghai, joining other global firms in testing the waters for a listing in China. Coca-Cola has said it will commit $2bn (£1.22bn) of investment into China and last October opened three new plants in [...]
Wall Street sell-off on recovery fears June 1, 2011 WALL Street ended a four-day rally with its worst session since August yesterday and could suffer more losses in coming days as investors faced more signs the economic recovery is fading. All 10 Standard & Poor’s sectors ended more than one per cent lower and all 30 stocks in the Dow industrials fell. Banks were [...]
Coca-Cola considers Shanghai listing June 1, 2011 Coca-Cola Co, the world’s largest soft-drink company, said it may explore a possible listing in Shanghai, joining other global firms in testing the waters for a China listing, along with its increasing presence there. Coke has said it will commit $2bn (£1bn) in investment into China and last October opened three new plants in Inner [...]
WHAT THE OTHER PAPERS SAY THIS MORNING May 26, 2011 FINANCIAL TIMES HSBC EMBROILED IN INTERNSHIP ROW HSBC has been accused of nepotism after its legal department implied it offered work experience only to the sons and daughters of its own executives. Richard Bennett, group general counsel, sent a letter rejecting a young woman who had sought unpaid work in his department. “HSBC does not [...]
Minerva gets £194m cash takeover bid May 26, 2011 TROUBLED property developer Minerva yesterday confirmed it has received a preliminary cash offer valuing it at £194m. The bid for the Walbrook developer is from a consortium of firms led by Jamie Ritblat’s Delancey Real Estate Asset Management. One Minerva investor told City A.M. the bid is “an interesting offer”, saying: “Something has to happen [...]
Manufacturing dip affects US shares May 24, 2011 US stocks dipped in light volume yesterday as lingering concerns about a slowdown in growth more than offset gains in energy shares. Investors kept trimming large-cap technology positions, pushing the tech-heavy Nasdaq Composite lower. The S&P energy sector index rose 1.3 per cent, while its industrials index slipped 0.6 per cent, sending the market down [...]
Yandex float priced at top end of range May 23, 2011 RUSSIAN internet search firm Yandex yesterday appeared to be cashing in on a surge in demand for technology companies in the United States, despite fears of a new dot.com bubble. The firm, dubbed as the “Russian Google”, now plans to sell shares above its initial price range, at between $24 and $25 per unit. It [...]
Strauss-Kahn getting to work on his trial defence May 22, 2011 FALLEN IMF chief Dominique Strauss-Kahn worked on his defence against sexual assault charges yesterday at a Manhattan apartment where he is under house arrest following release from jail. Under strict bail conditions, Strauss-Kahn, 62, was not allowed to step outside the apartment at 71 Broadway, in the heart of New York’s financial district. The building [...]