Neighbourly handout helps global markets December 14, 2009 MARKETS breathed a sigh of relief yesterday after news of Abu Dhabi’s $10bn (£6bn) lifeline to Dubai. The Dubai stock exchange closed more than 10 per cent higher while the Abu Dhabi market climbed nearly eight per cent. European and US stock markets also rose. UK banking shares rallied on the news as investors’ worries [...]
Goldwind IPO in Hong Kong is cancelled June 14, 2010 CHINA’S second-largest wind turbine maker, Xinjiang Goldwind Science & Technology, has pulled its up-to-$1.2bn (£814m) initial public offering, the fifth Hong Kong IPO shelved since last month. With around $3.8bn in public offerings pulled from the Hong Kong Stock Exchange in the last few weeks, the dead deals reveal the impact of the sharp drop [...]
Goldwind IPO in Hong Kong is cancelled June 14, 2010 CHINA’S second-largest wind turbine maker, Xinjiang Goldwind Science & Technology, has pulled its up-to-$1.2bn (£814m) initial public offering, the fifth Hong Kong IPO shelved since last month. With around $3.8bn in public offerings pulled from the Hong Kong Stock Exchange in the last few weeks, the dead deals reveal the impact of the sharp drop [...]
Osmond launches £500m buyout fund January 10, 2010 ENTREPRENEUR Hugh Osmond will this week announce plans to float a £500m turnaround vehicle on the London Stock Exchange. The Horizon fund, expected to list before the end of January, will target one large investment in a consumer-facing business. Advisers from Osmond’s private equity firm Sun Capital have drawn up a long list of prospective [...]
Pearl’s creditors set to reject deal on suspended payments January 7, 2010 PEARL Group’s bondholders plan to reject a deal that the insurer hoped would end a bitter dispute over suspended interest repayments. The firm, founded by pizza entrepreneur Hugh Osmond, suspended interest payments on £500m of its bonds last year, sparking outrage from bondholders. Pearl has tabled a deal offering to buy back £100m of the [...]
Rivals lash out at LSE after damaging technology glitch November 26, 2009 RIVALS to the London Stock Exchange expressed outrage yesterday after a crippling technical glitch put a stop to trading, claiming investors had effectively been duped by an inability to route their custom to other venues. The problem brought trading to a halt for over three hours on the London Stock Exchange. During that time, the [...]
Pearl’s creditors set to reject deal on suspended payments January 6, 2010 PEARL Group’s bondholders plan to reject a deal that the insurer hoped would end a bitter dispute over suspended interest repayments. The firm, founded by pizza entrepreneur Hugh Osmond, suspended interest payments on £500m of its bonds last year, sparking outrage from bondholders. Pearl has tabled a deal offering to buy back £100m of the [...]
Cadbury talks to Hershey to fend off Kraft January 6, 2010 CADBURY was last night locked in talks with Hershey in a bid to stave off Kraft’s hostile takeover attempt. The British confectionery giant is not only seeking a higher price than Kraft’s £10.5bn hostile offer, but also a merger partner that would let it have some say in a combined company, two sources familiar with [...]
EX-FA BOSS BARWICK LANDS NEW CITY ROLE January 27, 2010 SOMETHING of a coup for law firm Lewis Silkin yesterday, as it announced the appointment of former Football Association chief executive Brian Barwick as a consultant in its sports law team. Barwick, of course, departed the FA under a bit of a storm cloud back in 2008, after fans and commentators alike placed the blame [...]
TAKING STOCK December 7, 2009 EQUITY trading across the London Stock Exchange group dipped sharply in November as the UK’s biggest bourse was hit by turbulence in the global markets and aggressive pricing strategies from rivals. In total 16.4m equity trades worth £149bn were carried out over the month, during which the average daily number of trades fell by a [...]