Zoom revenue surges on continued pandemic video-conferencing demand September 1, 2020 Video-conferencing provider Zoom last night blasted through analyst revenue and earnings expectations for the second quarter as the coronavirus pandemic continued to drive demand for its services. Shares of Zoom, which have surged almost four-fold this year, leaped 38 per cent in pre-market trading, having hit a record closing high of $325.10 yesterday. Video-conferencing platforms, [...]
London Stock Exchange celebrates AIM’s 25th anniversary June 16, 2020 The London Stock Exchange (LSE) will this week celebrate the 25th anniversary of AIM, its sub-market for smaller and growing companies. Since its launch in 1995 over 3,800 companies have been admitted to AIM, raising a combined £118bn in equity capital, according to new research by audit firm Grant Thornton. In 2019, AIM-listed companies contributed [...]
Total value of UK M&A deals rises by £15bn in 2019 January 9, 2020 The total value of mergers and acquisitions (M&A) deals completed by the UK financial services industry rose almost £15bn in 2019, even though the number of such deals dropped considerably. According to data from Big Four auditor EY, financial firms completed £39.8bn worth of deals last year, up from £24.9bn in 2018. Read more: Financial [...]
Ericsson shares soar as 5G sales boost profit July 17, 2020 A rise in 5G network sales and software revenue helped Ericsson report higher-than-expected quarterly core earnings today, as it stuck to 2020 and 2022 financial targets. The Swedish company has experienced a recovery under Borje Ekholm – a former CEO of Investor AB- who took the position in 2017, having been chosen to steer the [...]
M&A set for torrid second quarter as deal volumes are expected to contract further May 6, 2020 UK M&A deal volumes are expected to contract further in the second quarter of 2020, after falling to a 35-year low last month. A Mark to Market survey of M&A professionals found that 95 per cent of respondents anticipate deal volumes in the UK to fall in the second quarter. Of those, 56 per cent [...]
Slumping economy, surging stock market– what’s going on? May 18, 2020 While tens of millions of Americans were losing their jobs, the stock market in April produced its best monthly return in over 30 years. We look at what’s behind this apparent disconnect. 36 million Americans filed for unemployment claims over the past eight weeks. US GDP plunged by 4.8 per cent in the first quarter [...]
Thomson Reuters defends boss following reports of hunt for successor October 21, 2019 Thomson Reuters has thrown its support behind chief executive Jim Smith following reports the company has hired an executive search firm to pick his successor. The media conglomerate is said to have appointed search firm Spencer Stuart to draw up a shortlist of candidates, with co-chief operating officer Neil Materson slated as an internal contender. [...]
Why Hong Kong’s bid for London Stock Exchange was doomed from the start October 8, 2019 For the last month the chief executive of the Hong Kong bourse has been selling his £32bn takeover offer for the London Stock Exchange (LSE) as if it were the perfect love match. “We complete each other,” Charles Li told banking delegates in Canary Wharf. His amorous talk, however, has not been enough to convince [...]
London Stock Exchange third quarter income climbs as CFO set to retire October 18, 2019 London Stock Exchange today posted robust gains in its third quarter for its first set of results since rejecting a hostile £32bn takeover bid from Hong Kong. Total income climbed 12 per cent year on year to £587m in the three months to the end of September. Read more: Why Hong Kong’s bid for the [...]
Hong Kong stock exchange drafts in bankers to aid charm offensive for LSE bid September 22, 2019 Banking giants HSBC and UBS have been drafted in by the Hong Kong stock exchange as it ramps up its shareholder campaign to push through a takeover of its London rival. The two corporate groups are trying to win round shareholders of the London Stock Exchange (LSE) after making a £32bn offer for the group, [...]