London Stock Exchange rejects £32bn Hong Kong takeover bid September 13, 2019 The London Stock Exchange (LSE) has rejected a £32bn takeover offer from Hong Kong Exchanges and Clearing (HKEX), citing “fundamental concerns” around the bid. LSE said it saw “no strategic merit” in the proposed takeover, which would have put an end to its mammoth $27bn (£22bn) merger with Refinitiv. Read more: Hong Kong bid for [...]
Thomson Reuters reports surge in operating profit October 31, 2019 Media conglomerate Thomson Reuters has reported a surge in operating profit for the third quarter, ahead of analysts’ estimates. Operating profit at the Canada-based company jumped 51 per cent to $262m (£202m) for the three months to September, ahead of $173m for the same period a year ago. Read more: Thomson Reuters defends boss following [...]
Experian says coronavirus lockdowns could hit first quarter revenue May 20, 2020 Data credit company Experian said today it could take a 10 per cent revenue hit in the first quarter if government coronavirus lockdown policies persist through the period. The London-listed business said it was not providing financial guidance for the current financial year because of the unpredictability of the crisis which had caused major disruption [...]
The City View podcast from City A.M., with David Buik April 22, 2020 In this episode Christian is joined by legendary City commentator and market analyst, David Buik. Subscribe to The City View Podcast: Apple / Google / Spotify / RSS David is one of the best known and most recognisable financial commentators in the City with more than 40 years of experience behind him. His weekly emails [...]
Screenshot: Can social media win the anti-vax war? December 4, 2020 A weekly column from City A.M. bringing you all the biggest stories and trends in technology, media and telecoms This week **Media Moment of the Week: A very British scandal **Social media gears up for the vaccine information war **How data dominates financial markets Media Moment of the Week It was quite possibly the most [...]
M&A in the UK falls a third on coronavirus and recession fears March 20, 2020 Dealmaking in the UK fell off a cliff this month with outbound M&A dropping to a seven-year low, as activity slowed amid the coronavirus outbreak. The global pandemic has sent markets into a frenzy, fuelling fears of severe damage to the economy and forcing central banks to take drastic emergency stimulus measures since the financial [...]
Procter & Gamble misses estimates on poor nappy sales January 23, 2020 US consumer goods giant Procter & Gamble reported lower-than-expected quarterly sales today, hurt by a stronger dollar and a slowing demand for nappies. The slowing growth rate globally has hit demand for its Pampers nappies, particularly in the US and China. Net sales rose 4.6 per cent to $18.2bn (£13.9bn), slightly below the average analyst [...]
Zurich Insurance’s strong performance aided by its UK business February 13, 2020 Zurich Insurance Group’s stellar performance was boosted by a strong showing by its UK business, Zurich UK. UK earnings were up 59 per cent to £413m from £260m in 2018. General insurance gross written premium increased 4 per cent to £2.5bn from £2.4bn in 2018. In its general insurance business, business operating profit grew 97 per [...]
Chinese e-commerce giant Alibaba eyes $15bn Hong Kong listing in boost for troubled city November 8, 2019 Chinese e-commerce giant Alibaba Group Holdings is eyeing a $10 to $15bn (£11.7bn) listing in Hong Kong in a boost for the Asian financial hub which is being wracked by anti-government protests. Read more: Alibaba delays Hong Kong listing over protests The US-listed company is due to seek approval from Hong Kong’s listing committee on [...]
Tencent posts rise in profit as pandemic drives surge in Wechat use March 18, 2020 Tencent today said the coronavirus outbreak had driven a huge surge in usage for its social media platform Wechat. The Chinese tech giant said Wechat had racked up 8bn visits since February as people logged in to access so-called health codes that allow them to travel during the outbreak. It came as Tencent posted fourth [...]