Cruise liner firm Carnival plans $1bn stock sale to stay afloat February 23, 2021 Cruise operator Carnival today announced that it would sell $1bn (£700m) worth of its stock through a public offering. The firm said that it would place 40.5m shares at $25.10 per share, a slight discount on yesterday’s closing price of $25.97. The offering, which is being run by Goldman Sachs, closes tomorrow. Carnival said that [...]
Medical cannabis company Kanabo enjoys supherb first day as listed company February 16, 2021 Medical cannabis company Kanabo Group’s share price soared today on its first day listed on the London Stock Exchange (LSE). Kanabo manufactures vaporised marijuana pods and inhalers for medical use. By mid-morning, the company’s share price had jumped some 66.64 per cent on its first day as a listed company. Kanabo CEO Avihu Tamir said: [...]
Bitcoin price tests $50,000 high as corporate adoption boosts legitimacy February 15, 2021 CryptoCompare data shows the price of Bitcoin (BTC) moved from around $39,000 to test a new all-time high near the psychological $50,000 mark. It has since correctly slightly to trade at $47,500 at press time. Ether (ETH), the second-largest cryptocurrency by market capitalization, started the week near $1,700 and moved up to a new all-time [...]
London experiences massive drop in Euro swaps trading post-Brexit February 11, 2021 Trading in euro-denominated swaps has dropped by nearly 30 per cent in London since the end of the Brexit transition period on 31 December, with trade primarily shifting to New York, Amsterdam and Paris. According to new data from financial research company IHS Markit, published earlier today, euro swaps trading in the City of London [...]
Mike Lynch: Live updates as British tech entrepreneur fights extradition to US February 10, 2021 British tech entrepreneur Mike Lynch, the founder of software firm Autonomy, today begins the second day of his fight against his extradition to the US. Yesterday, the court heard opening arguments from Lynch’s defence team and lawyers representing the US. Lynch is facing charges of securities fraud, wire fraud and conspiracy in the US related [...]
British investors should keep a wary eye on Chinese delisting in the Caymans February 6, 2021 The rise of China is one of the biggest geopolitical issues the West faces and our MPs are rightly becoming increasingly concerned about the regime’s continued human rights and security abuses. The latest threat, however, is very different and strikes at the heart of our financial system; a threat that is being facilitated by of one of Britain’s own [...]
GameStop’s stock slide speeds up as US senator steps in February 4, 2021 The slide in GameStop shares accelerated today as US officials warned they may step in to investigate the trading frenzy that has roiled markets in recent weeks. A surge in buying by amateur traders, fuelled by activity on social media, sparked big moves in shares of companies that were shorted by Wall Street hedge funds. [...]
Gamestop Explained: How Reddit investors took on Wall Street hedge funds February 4, 2021 Reddit investors have started to buy up stocks in a bid to cause a “short squeeze”.
SPACs: The blank cheque vehicles loved by Richard Branson, Tidjane Thiam and Wilbur Ross February 4, 2021 With backing from the likes of Richard Branson, former US commerce secretary Wilbur Ross, City grandee Martin Gilbert and even the boss of the LSE, the vehicles known as special acquisition companies (SPACs) provide a quick and easy way for private companies to go public.
Regulators to meet as brokers call time on Reddit-trader rollercoaster February 3, 2021 Hedge funds, small investors and their stockbrokers are bracing for tougher U.S. markets regulation, with officials expected to meet this week to assess the fallout from a social-media driven trading frenzy that has roiled stocks and silver prices. Mass buying by amateur traders over the past two weeks has driven wild price gyrations in companies [...]