Entertainment One to move to LSE’s main list March 31, 2010 ENTERTAINMENT One, the distributor of the blockbuster Twilight vampire movies, yesterday announced plans to move to the main list of the London Stock Exchange, as it cheered investors by confirming full-year results will be at the top end of its forecast range. Entertainment One, which is currently listed on the Alternative Investment Market (Aim), said [...]
Avangard to raise £163m April 19, 2010 AVANGARD, Ukraine’s biggest producer of eggs, yesterday confirmed it plans to raise as much as £163m in a London share issue, valuing the company at $890m. The company wants to use the proceeds of the offering to finance the expansion of its egg business through capital expenditures. This includes the completion of construction of two [...]
The City will pay a high price for a Tobin Tax September 6, 2010 EU FINANCE ministers are meeting today to discuss the latest incarnation of the Tobin Tax. The City should be worried. Tobin’s proposed tax on foreign exchange transactions has deservedly been in the wilderness for forty years, but the mood has changed. There is a real danger that a punishing levy could happen, sooner rather than [...]
LONDON TURNS OUT IN FORCE TO WATCH FINAL ELECTION SHOWDOWN May 6, 2010 FITTINGLY for one of the most important elections in this country’s history, turnout smashed expectations yesterday – and we’re talking of the bars, pubs and restaurants of London, rather than of the polling stations. The City, eager to know what the next government will have in store for them, flocked to parties as the results [...]
Facebook couldn’t have been British October 18, 2010 IT is simply untrue that Britain doesn’t produce any wealth and job creating entrepreneurs any more. Take some of the stories in today’s City A.M.; they demonstrate that Britain retains a vibrant start-up and growth culture. Hugh Willis, 50, and Mark Poole, 49, who founded BlueBay in 2001, are today each £82m richer after they [...]
While you’re in the City soak up the atmosphere and the history October 27, 2010 FOR centuries St Paul’s, and not the Stock Exchange, was where the City’s activity and bustle reached its highest pitch. A seventeenth century writer wrote of it that “the noyse in it is like that of Bees, a strange humming or buzze, mixt of walking, tongues and feet: It is a kind of still roar [...]
Market abuse trader turns up at XCAP May 18, 2010 A CITY trader who was fined for market abuse by the regulator six years ago has returned with the launch of a new investment bank. Chris Potts was head of market making at Evolution Securities when he was slapped with a £75,000 penalty by the Financial Services Authority in 2004. The charge, meted out for [...]
Essar Group readies £5bn London listing March 7, 2010 INDIAN conglomerate Essar Group is readying plans for an $8bn (£5.3bn) listing of its oil and power arm on the London Stock Exchange. The Mumbai-based group, owned by billionaire brothers Shashi Ruia and Ravi Ruia, is thought to be planning to list a holding company for its exploration, power, refinery and production businesses. The group [...]
Providers make a dash for share of ETC market March 31, 2010 WHEN it was announced at the end of last year that investment vehicles traded on exchanges, mostly in the form of index-tracking funds, had passed the $1 trillion mark globally, it was a sign that listed products were growing in popularity. But while exchange-traded funds (ETFs) have made their mark already here in Europe, it [...]
WHAT THE OTHER PAPERS SAY THIS MORNING May 23, 2010 FINANCIAL TIMES PRINCE ANDREW’S TRADE ROLE DEFENDED Buckingham Palace defended Prince Andrew’s globetrotting role promoting British business on Sunday after a newspaper sting appeared to show his former wife selling access to him for £500,000, offered by a reporter posing as a tycoon. Both the royal household and the government said the Duke of York’s [...]