London Stock Exchange tariff change sends its shares lower July 2, 2009 SHARES in London Stock Exchange (LSE) shed 5.5 per cent to close at 663.5p yesterday, as investors reacted to Wednesday’s announcement that it will introduce a new tariff to attempt to improve trading. In new chief executive Xavier Rolet’s latest break with the old regime, the LSE is cutting its fees by roughly nine per [...]
Liberty unveils demerger as profits tumble March 9, 2010 LIBERTY International will split its retail and commercial property businesses in a bid to “achieve greater value for shareholders.” The shopping centres arm of the business will become a real estate investment trust (REIT) called Capital Shopping Centres (CSC) with a market cap of around £2bn. And its London based portfolio will become Capital & [...]
Nasdaq OMX profits soar in surprise jump July 27, 2010 NASDAQ Group posted a profit rise of nearly 40 per cent yesterday on the back of a sharp jump in stock and option trading, beating expectations. Transaction revenues rose a surprising 20 per cent from a year ago, reflecting the volatility and volumes brought on by the May “flash crash” and overall concern over Europe’s [...]
Prudential preparing for £23bn AIG Asian deal February 28, 2010 PRUDENTIAL, the largest insurer in Britain, is on the verge of an audacious takeover of the Asian operations of American International Group valued at around £23bn. The Pru would raise £15bn through a mammoth rights issue to help fund the transaction, which would transform it into the most powerful insurance player in the high-growth Far [...]
Retail bonds launch online February 1, 2010 A NEW online trading platform will open up the corporate bond and gilt market to the retail sector. The launch of a new order book by the London Stock Exchange (LSE) yesterday will allow far greater access to private investors. Of an estimated 10,000 bond packages available, only 200 were readily available to retail investors. [...]
Insider deal couple to face criminal trial March 15, 2010 A married couple have been charged with insider dealing as part of the Financial Services Authority’s (FSA’s) clampdown on market abuse just days after the conviction of former Cazenove banker Malcolm Calvert. Former Dresdner Kleinwort investment banker Christian Littlewood and his wife Angie Lew have been charged with 13 counts of insider dealing in a [...]
LSE names new director to head post-trade services and cut costs January 18, 2010 THE London Stock Exchange (LSE) yesterday said Kevin Milne has begun work in a newly created job as director of post-trade services, with a brief to bring down clearing and settlement costs as a priority. “While the costs of trading and execution have fallen away quite sharply, the costs of clearing and settlement have not,” [...]
DP World looks to London for listing January 6, 2010 PORT operator DP World is looking to list on the London Stock Exchange after failing to drum up sufficient investor interest on the Nasdaq Dubai bourse. The Dubai-based group, which is more than three-quarters owned by the crisis-hit conglomerate Dubai World, said it was disappointed with the market valuation of the company and will now [...]
Bermudian venture capital company Oakley will invest in a vast war chest January 25, 2010 VENTURE capital firm Oakley Capital Investments said its full-year net asset value per share rose over 26 per cent and that it would focus on investments in the IT services sector in 2010. Oakley, which focuses on mid-market Western European businesses, has total funds of £247m and £166m left to be invested, according to director [...]
Travelport to get £2bn tag via flotation February 1, 2010 TRAVEL service company Travelport will be worth up to $3.45bn (£2.17bn) when it lists on the London Stock Exchange, the firm said yesterday. The group, whose travel distribution, travel intermediary and IT services include airline and hotel booking operation Galileo, announced a price range for its $1.78bn London listing valuing the company’s total equity at [...]