Wall St surges as confidence picks up September 1, 2010 WALL Street posted its best day in eight weeks yesterday as investor mood brightened after better-than-expected factory data from the United States and China. Investors jumped on stocks across the market, with more than six shares rising for every one that fell on the New York Stock Exchange, while on the Nasdaq, nearly five stocks [...]
Wall St stages comeback as bargain hunters move in August 25, 2010 US stocks staged a comeback yesterday, breaking a four-day losing streak by major indexes, as key technical support triggered bargain hunting that offset weak economic data. The S&P 500 index sagged as much as one per cent after data showed new single-family home sales slumped to a record slow pace in July. But positive momentum [...]
TOP FOREX STAR TAKES TIME OUT FROM RBS August 24, 2010 A BLOW for the Royal Bank of Scotland – and, by extension, to the rest of us – as one of the most celebrated foreign exchange traders in the City hops out of the bank’s revolving door. Mark Barnes stepped up to the role of global head of forex trading at RBS last year, and [...]
Manhattan’s new breed of design hotels August 22, 2010 YOU could argue that New York does hotels better than any city in the world. Historic luxury landmarks, hipster crash-pads, fashionable design hotels, groovy boutiques, high-tech business places – it’s got more, and better, examples of each than pretty much all of its rivals. But even the best needs a shake up. The Big Apple [...]
MasterCard buys DataCash August 19, 2010 MasterCard will buy British payment services provider DataCash Group for £333m in cash to expand its e-commerce business. The world’s second-largest credit and debit card payment processer, said it will pay 360p per share, a 54 per cent premium to DataCash’s Wednesday closing price. MasterCard said the deal would increase its ability to process payments [...]
Wall St slips on fear growth has stalled August 19, 2010 US stocks plummeted to their lowest close in nearly a month yesterday as the latest batch of data amplified concerns the economy is stuck in neutral. The selloff was broad, with five stocks falling for every one rising on the New York Stock Exchange. Sectors most sensitive to growth were hit hardest. Manufacturers 3M, United [...]
GM files for IPO and plots dual listing August 19, 2010 General Motors took a big step towards repaying a controversial taxpayer-funded bailout by declaring plans for a landmark stock offering that represents a critical test for the Obama administration. The car maker said it planned to list the shares on the New York Stock Exchange and the Toronto Stock Exchange in an initial public offering [...]
GM files for its historic flotation, expected to raise up to $20bn August 18, 2010 GENERAL Motors (GM) will press ahead with an historic initial public offering (IPO) that is expected to raise almost $20bn. The firm filed papers with the Securities and Exchange Commission last night that confirmed the long-expected flotation. Trading in GM shares is expected to start sometime between late October and the 25 November Thanksgiving holiday. [...]
FINANCE BOSS SAYS SORRY FOR HITLER GAG August 18, 2010 AN UPDATE on the saga of Stephen Schwarzman, the Blackstone Group chief executive who ruffled a feather or two recently by comparing the plight of the private equity industry to the Second World War. The ever-outspoken Schwarzman, peeved at the ongoing battle between US politicians and the sector over increasing its tax burden, claimed: “It’s [...]
Poison pill hits BHP’S $39bn bid August 17, 2010 CANADIAN fertiliser firm PotashCorp yesterday snubbed a mammoth $39bn (£25bn) indicative offer from mining giant BHP Billiton, moving swiftly to shield itself by invoking a “poison pill” defence outlawed in the UK. PotashCorp, which described the $130-a-share cash offer from BHP as “grossly inadequate”, launched a shareholder rights plan defence, giving it the ability to [...]