Intercontinental Exchange questions UK competition watchdog concerns over Trayport takeover August 18, 2016 The owner of the New York Stock Exchange has questioned the justification of the British competition authority’s concerns over its Trayport takeover. The Competition and Markets Authority (CMA) said the Intercontinental Exchange (ICE) should consider reversing its $650m (£495m) deal for Trayport, a commodities trading software operation. Read more: US rival pulled London Stock Exchange [...]
Deutsche Bank shares plunge to new record low in fresh morning turmoil September 30, 2016 Deutsche Bank shares have crashed another eight per cent this morning as the German stock markets opened for trading. The lender was plunged into fresh turmoil last night as a string of key clients said they were cutting back on the amount of assets they store with the lender, raising fears some in the market [...]
Hollywood movie company Film Finances considers London IPO June 1, 2017 A Hollywood film financier is said to be plotting a float on the London Stock Exchange. Los Angeles-headquartered Film Finances Inc could be making its way for a UK initial public offering (IPO) during the summer. Sky News reported that the flotation is being overseen by Liberum Capital and could value the firm at several [...]
City Moves for 30 September 2016 | Who’s switching jobs September 30, 2016 KPMG KPMG has appointed Paul Martin as UK head of retail. Paul will succeed David McCorquodale who has led KPMG’s retail practice in the UK since November 2012 and will be retiring at the end of April 2017 after 32 years with the firm. Paul is managing director of KPMG Boxwood and was formerly managing director of Planet Retail, [...]
Royal Bank of Canada bumps up dividend as income increases August 24, 2016 Royal Bank of Canada (RBC) has today announced a boost to its income, along with a slightly sweeter dividend for its third quarter of its financial year. RBC revealed net income of CA$2.9bn (£1.7bn) for the three months to the end of July, an increase of 17 per cent on CA$2.5bn the year before. Meanwhile, diluted earnings per share were reported [...]
New York Stock Exchange resumes trading after outage July 8, 2015 The New York Stock Exchange (NYSE) has resumed trading after an outage lasting over three hours, which it said was due to a technical issue and not a cyber attack. Trading in all securities on the New York Stock Exchange halted at 11.32am ET (4.30pm BST) today. "The issue we are experiencing is an internal technical issue and is [...]
Have Manchester United reached peak noodle partner? Why the club’s status as football’s commercial kings may be under threat February 11, 2017 Manchester United’s commercial power could be plateauing. Figures revealed this week in the club’s second quarter report suggest United, who have been more effective at selling their brand to sponsors than any other football club in the world in recent years, may have finally reached peak noodle partner. United’s commercial income came in virtually unchanged compared [...]
London-listed broker enhances its voice in US with another acquisition July 30, 2016 London-listed Tullett Prebon has announced a new US acquisition. The interdealer broker has agreed a deal for Creditex’s US hybrid voice broking business from Intercontinental Exchange (ICE), which owns the New York Stock Exchange. The team of 14 brokers, based in New York, provides voice broking and trading services for credit derivatives. Read more: US Department of [...]
What happens to the markets if America goes to war? August 31, 2017 The stock market hates uncertainty, and there is plenty of uncertainty with respect to the tensions over the latest round of North Korean missile tests. This post, originally published 13 September 2013, focused on the violence in the Middle East, specifically Syria, and the potential that the United States could enter the conflict and [...]
Cheers: SABMiller shareholders vote in favour of AB InBev’s £79bn Megabrew takeover September 28, 2016 SABMiller investors have given the green light to Anheuser-Busch InBev’s £79bn Megabrew merger. Minority shareholders for the FTSE 100 drinks giant voted overwhelmingly in favour of the deal, one of the largest in corporate history, with more than 95.5 per cent of votes cast in support. All shareholder hurdles for the mega-merger have now been passed, [...]