Knight Capital shares tank as it secures lifeline August 6, 2012 KNIGHT Capital said yesterday that a group of investors has rescued the firm in a $400m (£256.2m) deal that keeps the embattled leader in US equities market-making in business, but comes at a huge cost to existing shareholders. Chief executive Tom “TJ” Joyce said the new investors supported him and his management team, but it [...]
Knight in for $400 million lifeline after trading debacle August 6, 2012 Knight Capital Group looks set to enter into a $400m (£256m) financing deal with a group of investors, allowing the trading firm to open its doors today after a crippling $440 million loss. But it will come at a steep cost to shareholders, sources familiar with the situation said. Such a deal would help Knight [...]
Troubled Knight Capital nears a deal for funding August 5, 2012 US EQUITY traders will today give their verdict on stricken deal maker Knight Capital following an audacious last minute bid to save the firm, which last week lost $440m (£281m) due to a technical trading glitch. Several parties were locked in talks last night to provide a financing deal for the market maker, whose algorithmic [...]
Dark Knight pips Total Recall in US August 5, 2012 The Dark Knight Rises took the weekend box office title for a third time, beating back science fiction remake Total Recall. Dark Knight Rises brought in an estimated $36.4m from theatres in the US and Canada, distributor Warner Bros said yesterday. Total Recall finished in distant second place with $26m from Friday through Sunday.
Knight Capital looks for cash after $440m error August 2, 2012 US firm Knight Capital, the company behind a software glitch which led to trades being cancelled in New York on Wednesday, was scrambling to raise capital last night after it revealed the error had accidentally wiped $440m (£283m) off the company’s balance sheet. The New Jersey based equity broker, which placed the bad trades in [...]
Shares drop for fourth straight day on Wall St August 2, 2012 US stocks fell for a fourth day yesterday after European Central Bank President Mario Draghi disappointed investors hoping for immediate action to contain the Eurozone debt crisis. One of Wall Street’s top market makers, Knight Capital Group, was fighting for its survival after a trading glitch that roiled markets on Wednesday wiped out $440m the [...]
Team GB is doing brilliantly – but the British economy isn’t August 2, 2012 JUST as some had started to worry, Team GB delivered spectacularly yesterday, thanks in no small part to Bradley Wiggins, our new sideburned national hero. GB Plc isn’t performing as well, unfortunately. Manufacturing output is shrinking disastrously. The manufacturing purchasing managers index slumped from 48.4 to 45.4 in July – its lowest level since May [...]
Technical glitch forces NYSE to cancel trades August 1, 2012 THE New York Stock Exchange (NYSE) was forced to cancel trades in several shares yesterday after a technical glitch by market maker Knight Capital triggered dramatic stock price movements. The US exchange identified “irregular trading” in 140 shares in the opening 45 minutes of trade, but ultimately cancelled trades in just six shares. Most of [...]
Team GB is doing brilliantly – but the British economy isn’t August 1, 2012 JUST as some had started to worry, Team GB delivered spectacularly yesterday, thanks in no small part to Bradley Wiggins, our new sideburned national hero. GB Plc isn’t performing as well, unfortunately. Manufacturing output is shrinking disastrously. The manufacturing purchasing managers index slumped from 48.4 to 45.4 in July – its lowest level since May [...]
A truly unique home in idyllic surroundings July 26, 2012 This gorgeous Grade II-listed property with Capability Brown gardens is set in an idyllic country setting, with views towards the Exe Estuary and Lyme Bay. In addition to the main house, there is also a boat house, complete with a large open-plan kitchen, two bedrooms and reception room. The main house has four bedroom “suites”, [...]