The Nasdaq – a good catch in the market for a partner June 14, 2011 THE Nasdaq stock exchange, second only to the New York Stock Exchange (NYSE) in size, was founded in 1971 by the National Association of Securities Dealers. When it began trading on 8 February 1971, Nasdaq (National Association of Securities Dealers Automated Quotations) was the world’s first electronic stock market. It was also the first stock [...]
MEET THE ADVISERS April 14, 2011 DAVID WORMSLEY CITIGROUP ADRIAN CARTWRIGHT CLIFFORD CHANCE BANKING rainmaker David Wormsley, widely known in the City as “The Worm”, is leading Citigroup as joint global co-ordinator and bookrunner on the Glencore listing. As chairman of UK investment banking at Citi he has been at the heart of several high-profile deals, including a key role in [...]
CITY BIRDS SWOOP ON GULLS’ EGGS LUNCHEON May 17, 2011 THE City’s summer season is officially underway, marked by yesterday’s Macmillan Gulls’ Eggs City Luncheon at the Merchant Taylors’ Hall. The quirky institution serves guests green speckled gulls’ eggs – which are only in season for four weeks of the year – as they get stuck into some serious networking. “It is like Linked In [...]
BAT aims for new markets as smuggling dents growth March 28, 2011 BRITISH American Tobacco (BAT) yesterday said a rise in cigarette smuggling and the wider decline in smoking across the developed world continue to press down on growth. Group sales by volume fell three per cent during 2010, though price rises more than offset the decline to deliver a five per cent revenue rise to £14.9bn, [...]
WHAT THE OTHER PAPERS SAY THIS MORNING May 23, 2011 FINANCIAL TIMES UK BUILDERS SEE VALUE OF ORDERS COLLAPSE The value of work awarded to UK construction companies crashed during the past year, raising concerns that the impact of government spending cuts will be far worse than previously feared. The total value of new work awarded to the UK’s 50 leading construction companies fell by [...]
US bank could face law suit February 21, 2011 Letters have been sent to executives at the failed Washington Mutual Bank warning of legal actions and potential damages of over $1bn (£616.3m). The letters, sent by the Federal Deposit Insurance Corporation, are intended to encourage the executives to reach a settlement under directors’ and officers’ liability insurance. They are seen as a precursor to [...]
Oligarchs crush BP’s £10bn dream April 13, 2011 BP’S gamble on Russian oil seemed in tatters last night, paving the way for an explosive BP shareholder meeting today. BP had hoped to wow investors with the final version of its £10bn share swap with the government-run Rosneft at today’s meeting, after signing the deal in January. But Rosneft last night said it would [...]
Huawei sues Motorola over sale of unit January 25, 2011 CHINA’S Huawei Technologies has filed a lawsuit to block Motorola from selling one of its business units to Nokia Siemens Networks, demanding that the $1.2bn (£760m) deal be altered to avoid infringing on intellectual property rights. Nokia Siemens is seeking regulatory approval in China for its agreement to buy Motorola’s network equipment unit. Huawei wants [...]
Dresdner bankers set for bonus case March 8, 2011 COMMERZBANK faces a high-profile lawsuit from 104 of its investment bankers over a bonus dispute, after the Court of Appeal yesterday rejected the bank’s request to dismiss the case. Current and former bankers, who worked for Dresdner Kleinwort before Commerzbank took it over in 2009, are suing to recover €52m (£44.7m) in bonus payments from [...]
Dresdner bankers set for bonus case March 8, 2011 COMMERZBANK faces a high-profile lawsuit from 104 of its investment bankers over a bonus dispute, after the Court of Appeal yesterday rejected the bank’s request to dismiss the case. Current and former bankers, who worked for Dresdner Kleinwort before Commerzbank took it over in 2009, are suing to recover €52m (£44.7m) in bonus payments from [...]