HSBC could be in line for £22bn boost from break-up, researchers claim June 12, 2022 HSBC is missing out on £22bn of shareholder returns by not spinning off its Asian operation as a separate business, according to new research commissioned by the major investor pushing for a breakup of the bank.
City broker Britannia Global Markets cancels LME membership following March nickel price fiasco June 9, 2022 Derivatives broker Britannia Global Markets has said it is giving up its membership to the London Metal Exchange (LME), after the London market halted nickel trading in March in response to surging prices. Britannia said it had decided to cancel its Category 2 membership to the LME, which allows it to trade on behalf of [...]
Gas prices spike after explosion at US LNG plant leaves Europe scrambling for supplies June 9, 2022 Freeport LNG, which operates the largest US export plants producing LNG, will cease trading for three weeks, raising fears of supply shortages.
Tate & Lyle snaps up Chinese dietary fibre firm as Ukraine conflict pushes up costs June 9, 2022 Tate & Lyle has inked an acquisition of a dietary fibre business in China as the syrup maker hopes to shrug off inflationary headwinds. In an update on Thursday, the former sugar-making giant said it had acquired Quantum Hi-Tech, for an undisclosed sum, to expand its presence into Chinese and Asian markets. For the year [...]
Hedge Funds hit out at London Metal Exchange over ‘conflicts-of-interest’ in nickel price fiasco June 8, 2022 The Managed Funds Association (MFA), a powerful Washington lobby group, has accused the London Metal Exchange (LME) of failing to manage its “conflicts-of-interest,” as the market faces mounting criticism over its decision to halt nickel trading last March. In comments submitted to the LME, the industry body which represents hedge funds with £2.6trn worth of [...]
London Metal Exchange faces second lawsuit this week after Jane Street sues over nickel trading fiasco June 7, 2022 New York trading firm Jane Street Capital has followed its Wall Street rival Elliot Management in filing a lawsuit against the London Metal Exchange (LME), over its decision to halt trading of nickel and cancel trades in March. The high-frequency trading firm is suing the LME for $15.3m (£12.2m), after the Hong Kong Exchanges and [...]
Exclusive: UK median share price on LSE races past US stocks with energy firms performing worst after public listing June 6, 2022 IPOs are an exciting prospect for investors, as companies with strong potential are key to any investment strategy or as an attribute to a portfolio. However, the turbulent stock exchange market means that investors need to be very aware of where IPOs are launching and where they are likely to perform best to avoid an [...]
Our auto industry must let go of nostalgia even as it revives DeLorean June 6, 2022 Last week, we were bombarded with fond memories and childhood nostalgia as the famed DeLorean car make was revived. A new model, trading on those most powerful of marketing tools, will be released. Former Tesla executive Joost de Vries has bought the rights to the famous name and set up the gullwing-doored Alpha5 as a [...]
Feature: Big Tech’s big bet on India June 1, 2022 Alphabet has given the Indian market another vote of confidence this week, reportedly pumping fresh capital into Mohalla Tech, the parent firm behind short-video platform Moj and regional social network ShareChat. Though the companies are yet to confirm the $300m funding round, which is expected to take Mohalla’s value to a whopping $5bn, the reports [...]
Davos, once a rollcall of decision makers, has sagged under the weight of its ambition May 31, 2022 HAS Davos lost its mojo? While it was great to be able to stroll around taking in the Swiss air last week without struggling through crowds of Nobel Prize winners, CEOs and billionaires in snow gear, it also felt like a turning point. What sets the World Economic Forum annual meeting apart from other events, [...]