LSE accepts €4.3bn offer to sell Borsa Italiana to Euronext October 9, 2020 The London Stock Exchange has confirmed it has accepted a €4.3bn offer from Euronext for Borsa Italian, Milan’s stock exchange. LSE and Euronext entered into exclusive talks in September after Deutsche Boerse and Switzerland’s SIX bowed out of the race for the Milan bourse. Refinitiv The deal follows after the European Commission formally stated it [...]
Morgan Stanley beats expectations as investment banking income climbs July 15, 2021 US bank Morgan Stanley smashed analysts’ expectations for second quarter earnings and revenue, driven by record levels of capital market activity boosting its investment banking business. Revenue at the banking giant came in at $14.8bn, much higher than the $13.98bn estimate. Earnings per share hit $1.85, topping analysts’ estimates of $1.65. Read more: JPMorgan profits [...]
Gambling firm 888 Holdings continues momentum as revenue soars April 28, 2021 888 Holdings saw revenue rise by 56 per cent year-on-year during the first quarter of 2021 as the gambling firm continued to grow its casino and sports betting markets. Revenue shot up to $272.5m during the first quarter compared to $164.6m throughout the same period in 2020, outperforming board expectations. The rise was led by [...]
Google owner Alphabet smashes earnings estimates on digital advertising boom July 27, 2021 Google parent company Alphabet sprinted past revenue expectations for the second quarter, as the pandemic-induced surge in online shopping powered companies’ digital advertising spend. The tech giant posted revenue of $61.88bn in the three months to 30 June, up 62 per cent from the same period last year, and miles in front of Wall Street estimates [...]
Gas prices rise amid Yamal-Europe pipeline turbulence and Ukraine tensions February 2, 2022 Gas prices have recovered from a mini-slump this month after flows in the Yamal-Europe pipeline were halted in both directions.
Analysis: UK more bullish on energy sanctions with EU’s Russian dependency raising supply fears February 27, 2022 The West has ramped up sanctions against Russia but only the UK appears eager to push for new limits to Russian energy supplies.
City Moves: Who’s switching jobs in the Square Mile this week? May 12, 2021 City A.M.‘s Millie Turner provides a roundup of the most important hires and job moves across the City, every Wednesday afternoon. Email citymoves@cityam.com to be featured. Capital Group strengthens UK sales team Investment firm Capital Group, which has £1.7 trillion assets under management, has expanded its UK financial intermediaries team this week by hiring a new managing [...]
More money into stocks in the past five months than the last 12 years, BofA says April 9, 2021 Investors have injected more money into equity funds in the last five months than over the last 12 years, according to Bank of America data. An eyewatering $576bn has been invested since December, over the peak of the GameStop surge, and topped the $452bn that had been raised over 12 years. The Bank of America’s [...]
Buy2Let Cars parent company under investigation by serious fraud watchdog April 9, 2021 The Serious Fraud Office (SFO) has launched an investigation this morning into the Buy2Let Cars parent company Raedex Consortium for an unauthorised customer investment scheme. The SFO, the National Crime Agency (NCA) and the City of London police searched two premises in connection to the scheme and arrested one person yesterday. The person was interviewed [...]
London IPO activity off to a flying start with busiest January since 2006 February 3, 2021 London markets shook off the January blues with a rush of IPOs, a trend that is set to continue through the year. Building on the momentum seen towards the end of last year, it was the busiest January for the City since 2006. It raised $2.2bn from four listings, including Moonpig and Dr Martens, according [...]