Years of hard work yield success for London’s first couple of wine September 13, 2009 WHEN wine-lover Xavier Rolet, the new CEO of the London Stock Exchange, first saw the house known as La Verriere in southwest France in 1992, he knew he liked it. What he didn’t know was that the 100 acres of old, neglected vineyards on the mountainous property would become the site of a full-blown, deeply [...]
Weak dollar helps stocks on WallSt September 9, 2009 US STOCKS closed higher for a fourth straight day yesterday, sending the Standard & Poor’s 500 index to its best finish so far this year as industrial and technology companies gained from a weak dollar. The dollar’s fall to a 2009 low helped to make US products more competitive overseas. Earth-moving equipment maker Caterpillar, rose [...]
Burberry to hit the large caps as Reuters de-lists September 8, 2009 LUXURY goods group Burberry will replace Thomson Reuters on the FTSE 100 index tomorrow, after the news and financial data group de-lists from the London Stock Exchange. Thomson Reuters is delisting from the FTSE 100 as it wants to simplify its capital structure and eliminate the persistent discount at which the London shares have traded [...]
WHAT THE OTHER PAPERS SAY THIS MORNING September 8, 2009 FINANCIAL TIMES SCRUTINY THREATENS SUCCESS OF BAIKAL, SAYS LSERegulatory scrutiny over “dark pools” and the failure of most such platforms in Europe to make money mean that Baikal, the London Stock Exchange’s planned platform, “might not work”, says Xavier Rolet, LSE chief executive. “It’s not impossible that it might not work,” Rolet said. He said [...]
Oil surprise staves off Wall Street lull August 19, 2009 US stocks rose yesterday, shaking off a slide in China’s equity market as investors responded well to a surprise drop in crude oil stockpiles that might suggest an improving demand outlook. Exxon Mobil and Chevron led the blue-chip Dow industrials index’s advance. Exxon Mobil was up 2.3 per cent at $68.00, and Chevron gained 1.8 [...]
US stocks buoyed by Fed’s optimism August 12, 2009 US stocks powered higher yesterday as the Federal Reserve said it saw signs of a more stable economy. Stocks had been on track to close at their highest level in 10 months, led by technology and financials, but shares lost steam in the last half hour of trading. The Federal Reserve said the economy was [...]
Profit-taking sends US indices lower August 10, 2009 US STOCKS fell yesterday as investors booked profits following a four-week rally that took the broad S&P 500 index to a 10-month high on Friday. The drop comes ahead of an abundance of economic data due this week, including the Federal Reserve’s statement on interest rates and the economy, as well as government figures for [...]
SEC moots a ban of flash trades August 4, 2009 THE US Securities and Exchange Commission (SEC) is to launch a crackdown on so-called “flash” trades, extremely fast transactions made on electronic trading systems, due to concerns that the practice disadvantages some investors. SEC chairman Mary Schapiro said yesterday that she had told staff to find a way to “eliminate the inequity that results from [...]
WHAT THE OTHER PAPERS SAY THIS MORNING August 4, 2009 FINANCIAL TIMES BMW EYES TIE-UP WITH PEUGEOT FOR MINIBMW is examining whether to share platforms with PSA Peugeot Citroën for its Mini small car, it emerged yesterday, as the German premium carmaker returned to profit in the second quarter on the back of cost-cutting. Norbert Reithofer, BMW’s chief executive, said the company was talking to [...]
Former head of MetLife is to lead AIG August 3, 2009 BATTERED insurer American International Group (AIG) was yesterday set to name Robert Benmosche, formerly head of US life insurer MetLife, as its chief executive officer, according to people familiar with the matter. The board of the bailed-out insurance giant anointed Benmosche as its fifth leader since 2005 at a meeting yesterday, taking its fight to [...]