Dexia rescue fears spark stocks slump November 23, 2011 EUROPEAN banking stocks were spooked yesterday over fears the €90bn (£77bn) deal to rescue Franco-Belgian bank Dexia could be about to unravel. Financial stocks fell in Britain, France and Belgium after a report that Paris and Brussels were at loggerheads over short-term funding guarantees designed to allow Dexia’s “bad bank” to come off emergency liquidity [...]
WHAT THE OTHER PAPERS SAY THIS MORNING November 22, 2011 FINANCIAL TIMES NOMURA STEPS UP ASSET SALE PLANS Nomura has approached big private equity firms about the possible sale of domestic businesses, including its real estate arm, as the Japanese bank moves to shore up its capital buffers. Several people familiar with the preliminary talks with parties including KKR and TPG said the bank was [...]
Pandora’s Europe turnover falls November 22, 2011 Danish jewellery maker Pandora promised a turnaround plan would start to show results next year, after posting a 32 per cent drop in quarterly operating profit. Pandora, which floated in Copenhagen last year, said its sales in Europe declined 28.6 per cent, while sales in the Americas grew 4.1 per cent and Asia Pacific fell [...]
Groupon share price soars after IPO November 4, 2011 US daily voucher site Groupon has seen its share price jump by more than 50 per cent in their first day of stock market trading. The shares rose as high as $31.14, or 55.7 per cent above the IPO price, in early trading on the Nasdaq, at one point pushing the market value of the [...]
WHAT THE OTHER PAPERS SAY THIS MORNING September 18, 2011 FINANCIAL TIMES FEARS OVER RETREAT ON VOLCKER BANK RULES The Volcker rule, which bans US banks from trading for their own account, is set to include exemptions that some officials fear will weaken its impact, people familiar with the situation have warned. In the wake of UBS’s $2.3bn (£1.4bn) loss last week, alleged to have [...]
Pandora Media sees profit rise August 25, 2011 Online music company Pandora Media posted better-than-expected quarterly revenues and profits yesterday in its maiden results as a public company. Just two months after joining the public market, Pandora said sales more than doubled to $67m (£41m) and its underlying profit was $0.20 per share. Shares in Pandora, which sells advertising for mobile phones and [...]
Pandora IPO adviser gets referred to Danish police over disclosure failure August 16, 2011 THE IPO of jewellery maker Pandora came under further attack yesterday when the Danish financial market regulator referred one of its advisers to the police. Denmark’s Financial Supervisory Authority said Nordea Bank Denmark had failed to report the fact that it held a large financial position in Pandora prior to its flotation last October. Nordea [...]
Best to keep hold of those hard hats August 11, 2011 Hang on to those hard hats for a little bit longer. To the relief of all concerned in the financial markets, yesterday saw stocks rally in most parts of the world. But these are anything but safe times. In Europe rumours of some form of ban on short-selling, confirmed late last night, lifted stocks. Such [...]
Evolution’s turn in the bid spotlight August 3, 2011 Evolution chief executive Alex Snow, a former rugby player for Harlequins, is said to have been looking less than enthusiastic about things recently. Like others in the small cap market in the City he has been bemoaning a lack of corporate finance activity, including a dearth of share offerings (the IPO of Nat Rothschild’s Vallares, [...]
Pandora pain lands a fresh blow to IPOs August 2, 2011 JEWELLERY maker Pandora was deserted by investors yesterday just ten months after it listed as it admitted spiralling sales had caused it to rip up its profit forecasts for the year. Shares in Pandora, known for its charm bracelets, plunged a record 65 per cent after it said sales had slumped 30 per cent in [...]