Investors balk at Slack’s earnings debut on Wall St September 4, 2019 Shares of workplace technology giant Slack fell more than 15 per cent in after-hours trading tonight, following the company’s first set of quarterly results published since its markets debut in June. Slack, which is the creator of its eponymous workplace messaging app, said it had suffered a significant impact on its revenue due to the [...]
Global stock markets rise as Trump and China dial down trade war rhetoric August 26, 2019 US and European stock markets climbed into the green today after US President Donald Trump calmed investors by saying China was seeking an end to the two sides’ raging trade war. Read more: Trump announces tariff hikes as US-China trade war escalates At the G7 world leaders’ summit in France, Trump said: “We are having [...]
Workspace firm IWG in talks to list standalone US business in New York August 24, 2019 Founder of International Workplace Group (IWG), Mark Dixon, is in talks with investment banks to create a spin off its US business to be listed as a separate company in New York, according to Sky News. Dixon’s standalone business would become a publicly traded rival to WeWork, which is targeting a valuation of $50bn from [...]
BT lines up £100m sale of Dutch infrastructure in bid to simplify business August 18, 2019 BT is said to be preparing the sale of more than £100m worth of infrastructure in the Netherlands, marking the latest step in its radical simplification plan. Boss Philip Jansen is set to offload telecoms towers and broadband cables that serve the firm’s Global Services business customers in the country, the Sunday Times reported. Read [...]
US stock markets jump after China hints at stimulus August 16, 2019 US stock markets have opened significantly higher after China sewed hopes of more stimulus and a rally in government bonds slowed down. Read more: FTSE 100 follows European stocks upwards after it reopens The tech-heavy Nasdaq index was the biggest climber, rising one per cent shortly after the opening bell. The S&P 500 had risen [...]
Burford Capital ditches finance chief in response to activist pressure August 15, 2019 Under-fire litigation funder Burford Capital today announced it would appoint a new chief financial officer and seek a US listing following last week’s attack from shortseller Muddy Waters. Burford said its chief finance officer Elizabeth O’Connell will be replaced by Jim Kilman, formerly vice chairman of Morgan Stanley Investment Banking, with immediate effect. O’Connell is [...]
Bayer share price surges amid report it could settle Roundup weedkiller lawsuits for $8bn August 9, 2019 Bayer’s share price rocketed by as much as 11 per cent today as a report emerged that the German giant had proposed to pay $8bn (£6.59bn) to settle 18,000 lawsuits relating to its Roundup weedkiller. Read more: Judge reduces Bayer weedkiller damages Bayer later trimmed gains back to 5.8 per cent on Germany’s Dax stock [...]
Fintech star Revolut goes live with zero-fee Nasdaq stock trading service August 1, 2019 Digital bank Revolut has today launched its commission-free stock trading service, more than a year after it was first announced. The platform will present a fresh rival to London startup Freetrade, in addition to larger services such as those run by Etoro. Read more: Metro Bank finance director quits to take role with Revolut Enabled [...]
China’s Nasdaq rival Star Market see shares surge on first day of trading July 22, 2019 Shares shot up on the launch of China’s new Nasdaq rival – the Star Market – today. Shanghai Stock Exchange’s tech-focused stock market aims to use Shanghai’s credentials as a global financial hub as a springboard to success, with 25 firms listed on it already. Read more: Google terminates Project Dragonfly, its censored Chinese search [...]
Voyager Air grounds plans for London Stock Exchange listing July 18, 2019 An aircraft leasing firm has stalled its planned initial public offering (IPO), becoming the second major company in a fortnight to put off its float in London. Voyager Air has halted its ambition to raise $200m ($160m) through an IPO on the London Stock Exchange, blaming “currently unfavourable” market conditions for the move. Read more: [...]