Donald Trump tweet about F-35 programme wipes billions off Lockheed Martin’s market value December 12, 2016 Lockheed Martin has become the latest victim of Donald Trump's rampant Twitter ranting and has lost billions off its market value in the process. The defence giant's stock fell 4.6 per cent on the New York Stock Exchange in early trade, down to $247.61, after the President-elect tweeted that the F-35 programme and its cost is "out [...]
The Trump effect pushes the Dow above 19,000 in New York November 22, 2016 The Dow Jones Industrial Average has broken 19,000 points for the first time ever in New York. A US equity market surge since the presidential election – bolstered by the rising oil price as Opec member countries meet in Vienna – is showing no signs of slowing just yet. The rally has pushed the three major equity benchmarks [...]
Megabrew: Anheuser-Busch InBev and SABMiller tie-up due to close today October 10, 2016 The £79bn Megabrew merger between Anheuser-Busch InBev (AB InBev) and SABMiller is due to become effective this evening, closing one of the UK's largest ever corporate deals. The tie-up is due to come into effect at or around 7pm this evening (8pm Brussels time) and shares in the newly-merged company will list on Euronext Brussels, [...]
Megabrew: Anheuser-Busch InBev shares rise on Euronext Brussels days after swallowing up SABMiller October 12, 2016 Shares in the world's largest brewer Anheuser-Busch InBev (AB InBev) have risen 1.6 per cent on the Euronext Brussels exchange two days after it swallowed up British drinks giant SABMiller in a £79bn takeover. AB InBev's stock was trading at €115.05 on the Euronext Brussels stock exchange, which is the primary listing for the newly-merged company. Read [...]
Megabrew holding company lists in Johannesburg as SABMiller prepares to leave the London Stock Exchange October 4, 2016 The holding company for the Megabrew merger listed on the Johannesburg Stock Exchange (JSE) today, while SABMiller shares will be suspended in London tomorrow morning ahead of the long-awaited tie-up. Newbelco SA/NV, which will be renamed Anheuser-Busch InBev SA/NV when the £79bn takeover completes next week, listed 1.7bn new ordinary shares on the main board [...]
London Stock Exchange seeks to wrap up French clearing house sale as EU regulatory battle looms for Deutsche Boerse merger November 15, 2016 The London Stock Exchange Group is whittling down the list of candidates for the sale of its Paris-based clearing business and could be in a position to announce a deal before Christmas, City A.M. understands. The LCH SA deal is seen as crucial to the success of the London Stock Exchange’s £21bn merger with German [...]
Samsung splashes $8bn on connected cars company November 14, 2016 Samsung is stepping up its drive into the world of connected cars, splashing billions of dollars on a company specialising in the technology. The $8bn deal for US firm Harman International Industries, an offer of $112 per share, is a 28 per cent premium on the firm's Friday closing price on the New York Stock Exchange. Harman, which [...]
The new indifference: Why markets just don’t care about political risk February 9, 2017 The market reaction to excessive political turmoil has been extraordinary over the last year. Any investor with a crystal ball would have shunned risk assets, given the traditional relationship between political uncertainty and equity market volatility. But they would have been wrong. Incredibly, markets dismissed each event with increasing disdain. There is no sign of [...]
Lloyd’s of London says it can manage a $200bn event: Here are four scenarios insurers used to test themselves January 31, 2017 Like the rest of the world, Lloyd's of London was caught unawares by the attack on the World Trade Centre in September 2001. The world has been hit by natural catastrophes since the tragic 9/11 terror attacks, but what would happened in a doomsday scenario where a number of apocalyptic events all occurred at once? [...]
Sabre insurance reveals plans for £213m float with boss saying: “It’s not all young drivers in hot hatches” November 13, 2017 Quirky British car insurer Sabre today announced plans to raise £213m from a London stock market listing. The move will enable private equity firm BC Partners to realise part of its investment into the Dorking-based firm. BC, which paid £240m in 2013 for the firm, will retain a “significant stake” in Sabre post-float. Sabre specialises [...]