New property group to float July 6, 2009 Paul Pedley, the former chief executive of Redrow, yesterday announced plans to raise £50m to buy new-build flats in London from distressed developers. The new investment company, London Residential Opportunities, aims to be listed on the London Stock Exchange in September. Steven Norris, the former Tory transport minister, will sit on the board of Callidus [...]
LSE numbers down July 7, 2009 A total of 19.6m equity trades were carried out across the London Stock Exchange Group’s electronic order books during June 2009, with a combined value of £152.5bn. The average daily number of equity trades across the group’s markets was down by eight per cent compared with the previous year. The average daily value traded was [...]
LSE first quarter revenue drops by eight per cent July 15, 2009 THE LONDON Stock Exchange Group (LSE) yesterday said that weak trading cut first-quarter revenues by eight per cent, beating forecasts, but highlighting the challenge facing new chief executive Xavier Rolet. At his first quarterly trading update since taking over at the exchange, Rolet confirmed that he will continue to cut costs and introduce new tariffs as [...]
Pearl faces bondholder battle July 1, 2009 Bondholders in British insurer Pearl Group said last night they would not back a proposed re-listing of the group because of concerns over treatment of the bonds. Pearl, Hugh Osmond’s closed life funds investment vehicle, has said it would float on the London Stock Exchange providing the group with £510m of new capital.
Travelport in pole position in float queue January 17, 2010 TRAVELPORT looks set to become the most expensive company to float on the stock exchange in two years. It will be amongst the first in a slew of companies seeking an IPO in the coming months. The airline and hotel reservations firm, which operates in 160 countries, has plans for flotation in London and hopes [...]
Deripaska’s plan for Rusal flotation hits a setback December 2, 2009 RUSSIAN tycoon Oleg Deripaska’s plan to float his aluminium business UC?Rusal hit another hurdle yesterday, when the Hong Kong Stock Exchange delayed a ruling that needs to go in the firm’s favour before it can list. Rusal, the world’s largest aluminium company, is poised to secure a $17bn debt restructuring package that it hopes will [...]
Performance flat at Brewin July 29, 2009 STOCKBROKER and fund manager Brewin Dolphin yesterday said income remained broadly flat over the third quarter despite the impact of the economic downturn. Investment management income for the three months to 28 June rose 0.1 per cent to £49.18m, while the group’s investment banking division posted a 4.8 per cent rise in revenues to £2.33m. [...]
DAREDEVIL CHIEF ROLET BRINGS A BREATH OF FRESH AIR TO FUSTY LSE September 17, 2009 XAVIER Rolet is certainly freshening things up over at the London Stock Exchange. The exchange’s new boss has been busy over the past few weeks, having shaken up the LSE’s marketing team, struck a deal to replace its IT provider and got rid of its trusted PR adviser Finsbury (the super-spinner and its arch-rival Brunswick [...]
DAREDEVIL CHIEF ROLET BRINGS A BREATH OF FRESH AIR TO FUSTY LSE September 17, 2009 XAVIER Rolet is certainly freshening things up over at the London Stock Exchange. The exchange’s new boss has been busy over the past few weeks, having shaken up the LSE’s marketing team, struck a deal to replace its IT provider and got rid of its trusted PR adviser Finsbury (the super-spinner and its arch-rival Brunswick [...]
HSBC Shanghai plan to boost expansion December 20, 2009 HSBC is poised to become one of the first foreign companies to list on the Shanghai stock exchange, returning to its Asian roots. The bank wants to raise its profile in China as it opens more branches and considers taking stakes in Chinese lenders. It first announced in May last year that it wanted to [...]