Torrid summer boosts LSE September 29, 2011 LONDON Stock Exchange chief Xavier Rolet highlighted the group’s diversification agenda yesterday as he said equity trading volumes were up 12 per cent due to the market turmoil over the past five months. The LSE Group made £190.2m in revenues in the three months to the end of June, 14 per cent higher than a [...]
Moonpig founder to head Ark September 29, 2011 JUST a month after collecting a paper windfall of up to £40m from the sale Moonpig, Nick Jenkins has been named chief executive of charity Ark. The millionaire former Glencore commodities trader will be tasked with developing relationships with philanthropists to fund Ark’s programmes in Southern Africa, Eastern Europe, the UK and India. Jenkins has [...]
Man Group leads FTSE fallers after shock asset fall September 28, 2011 Hedge fund Man Group has ended the day almost 25 per cent, the biggest one-day plunge in its share price since November 2008, after shocking the markets with the scale of asset outflows over the past three months. UK stocks closed lower as confidence bled out of the market in the last hours of the [...]
Banks lead tentative FTSE recovery September 23, 2011 European markets made a tentative recovery this morning after world economic leaders promises to pile in liquidity if the dire state of equities did not pick up. There was carnage on global markets yesterday with commodities and shares driven down by fears over the Eurozone crisis and the spluttering US economy. Commodities also took a [...]
TRADER | OF THE YEAR September 21, 2011 MICHAEL HINTZE CQS CQS founder Michael Hintze emerged as the star trader this year. Not only did his hedge fund make strong returns, but in January Hintze donated £2m of his personal wealth to the National Gallery. COMMENDED Stephen Roth, Man Group SHORTLIST Alex Beard, Glencore Richard Evans, Morgan Stanley David Hitchens, Unicredit
PERSONALITY | OF THE YEAR September 21, 2011 There was a strong case for each of the business titans on the shortlist for City A.M.’s prestigious personality of the year award. Ivan Glasenberg, chief executive of Glencore, pulled off the largest-ever float in London earlier this year, while Burberry chief Angela Ahrendts has done an “outstanding” job since taking the helm of the [...]
Glasenberg buys more shares September 20, 2011 Glencore chief Ivan Glasenberg has bought another 1.5m shares in the commodities trader at 437.67p per share, adding to the £13.5m he bought on Monday and the £10m he spent last week. Glasenberg plans to use his dividend income to buy up shares, with yesterday’s £6.56m investment topping up his total spend to around £30m [...]
Glasenberg adds to stake in Glencore September 19, 2011 GLENCORE boss Ivan Glasenberg has made another show of confidence in the commodity trader, buying almost £13.5m of shares to add to his holding as part of a plan to use his dividend income to buy more shares. Glasenberg, who announced last week he had bought £10m of shares and would buy more, bought another [...]
Sany Heavy to launch Hong Kong listing September 19, 2011 SANY Heavy Industry, China’s largest construction machinery maker, aims to raise up to HK$26bn (£2.1bn) in what could be Hong Kong’s second-biggest stock offering this year, as it defies volatile markets to fund an expansion. Sany Heavy’s offering is one of several deals that are pushing through Hong Kong’s narrowing initial public offering window, with [...]
Facebook could delay $60bn float to second half of 2012 September 14, 2011 FACEBOOK will delay its initial public offering (IPO) until the end of next year so employees can focus on developing products for the social networking website, according to reports. Facebook, which is expected to have one of the biggest IPOs in history, plans to go public at the end of 2012, a later public debut than [...]