Alibaba share price means it will to smash tech float record September 18, 2014 Chinese e-commerce titan Alibaba last night priced its initial public offering at the top end of expectations, lining it up to raise a colossal $21.8bn (£13.3bn) in what will be the biggest tech float in history today. Alibaba will price its shares at $68 on the New York Stock Exchange, giving the firm a historic [...]
City traders on 24-hour alert over sterling September 18, 2014 TEAMS of staff at the Treasury, Bank of England, as well as sterling traders across a number of London-based banks were drafted in last night to staff 24-hour desks monitoring the fallout from the Scottish referendum. BNP Paribas, Barclays and Rabobank were among the institutions who staffed currency desks through the night so that their [...]
Analyst Views: What was your reaction to Merlin’s interim management statement? September 18, 2014 IVOR JONES | NUMIS Merlin has long-term growth potential driven by capital investment, a track record of excellent execution, and the potential to enhance its business with the application of yield management technology. All of these attractions are, we believe, reflected in the current share price and we reiterate our “hold” rating. MARK IRVINE-FORTESCUE | [...]
City flocks for a taste of Boris’s Big Breakfast with Dr Fox and Richard Desmond September 18, 2014 Auch, it was nye on impossible to talk of anything other than Scotland yesterday, but Boris Johnson made a good stab at it over breakfast – hosting the London’s Big Breakfast charity campaign at City Hall with Magic FM’s Dr Fox and The Mayor’s Fund for London. Richard Desmond was there chatting to primary school [...]
City Moves for 18 September 2014 | Who’s switching jobs September 17, 2014 DWF The law firm has announced the appointment of two partners to its London real estate team. Chris Seel and Nicola Giddens (pictured) join from Stephenson Harwood, where they were partner and senior associate respectively. BlackRock Lars Meisinger has been appointed regional chief operating officer, Europe, Middle East and Africa, for BlackRock Alternative Investors. He [...]
Dark pools might never recover from accusations at Barclays September 16, 2014 BANKS’ private trading platforms for clients have taken a serious knock since Barclays was accused in the US of misleading customers, analysts warned yesterday. The British bank is fighting the accusations made by New York Attorney General Eric Schneiderman, but its trading volumes have not recovered. Analysts at Bernstein Research fear the damage might be [...]
Monitise share price dips as mobile banking firm eyes move to FTSE September 15, 2014 Aim-listed Monitise could consider a move to the main London Stock Exchange market as soon as this financial year, the mobile banking and payments firm’s chief executive told City A.M. yesterday. “The fact that we’ve reiterated that we’re seriously considering [a move to a main listing] shows that we’re thinking imminently, hopefully within this financial [...]
Entrepreneurial spirit alive and kicking in UK September 15, 2014 ENTREPRENEUR of the year The City A.M. Entrepreneur of the Year award recognises those individuals or groups who set up a successful new venture and are now growing it as a profitable business. According to campaign group Startup Britain, more than 410,000 new businesses launched in the UK in 2014 so far – up from [...]
IG Group takes aim at incumbents with online stockbroking service September 14, 2014 SPREADBETTING firm IG Group is taking aim at Hargreaves Lansdown and Barclays Stockbrokers with the launch of an online stockbroking service today. IG, founded 40 years and with a majority of the market, has spent between £2.5m to £3m developing the service over the past two years in a bid to crack the lucrative market. [...]
Photobox boss Stan Laurent: The man driving Moonpig’s growth story September 14, 2014 By the end of April, it became clear to Stan Laurent that London’s doors were effectively closed to new consumer-facing internet companies. There had just been the perfect storm of disastrous market debuts from Just Eat and AO World, along with two profit warnings from Asos that triggered a sell-off in shares of fellow fashion [...]