Ferrari moves into the fast lane with US IPO July 23, 2015 Luxury Italian sports car maker Ferrari is set to move into the fast lane after filing for an initial public offering (IPO) on the New York Stock Exchange. Read more: Fiat Chrysler to spin-off Ferrari Its parent company, Fiat Chrysler, didn't say how many shares it plans to sell or at what price however the new [...]
Walgreens Boots Alliance posts a 15 per cent slide in net earnings, sending its share price lower despite beating expectations July 6, 2016 Walgreens Boots Alliance, the company that has controlled UK high street pharmacy chain Boots since 2014, has reported analyst estimate beating results but has failed to stop a share sell off. Shares were down by over three per cent in New York following the results announcement. For the third quarter the company reported earnings per share [...]
At the close: FTSE 100 sinks as Brexit fears send sterling to two month lows June 13, 2016 Resource stocks made up the majority of only a handful of risers on the FTSE 100 today as investors fretted over Brexit and sterling took a beating. The FTSE 100 closed at 6,044.97 – down 1.16 per cent on the day – and at its lowest level in three months. In March it was trading as low as 6,036, though had [...]
Golfer Phil Mickelson has been named as a defendant in an insider dealing case filed by US authorities May 19, 2016 Golfer Phil Mickelson has been charged as part of an insider dealing case filed by the US Securities and Exchange Commission (SEC). According to the authorities, Mickelson used an alleged tip he received from a gambler, William “Billy” Walters, who got information from a former chairman of Dean Foods, Thomas Davis. Davis allegedly passed information [...]
NY Times gets a boost from its 1m subscribers August 7, 2015 THE NEW York Times Company beat analysts’ expectations yesterday, reporting a 78.5 per cent rise in profit in the second quarter thanks to cost-cutting measures and an increase in digital advertising revenue. The company has been slashing costs and investing in its online and mobile platforms in recent months to offset falling print ad revenue, [...]
Investment banks in talks over possible merger with energy-focused boutique April 26, 2016 Investment banks Perella Weinberg and Tudor, Pickering, Holt and Co are understood to be in talks over a possible merger. New York-based Perella, which recently advised Deutsche Boerse on its proposed merger with the London Stock Exchange, is the bigger of the two banks. Tudor, Pickering, Holt and Co is an energy-focused boutique bank based in Houston, Texas. [...]
US markets S&P 500 and Dow Jones rebound after China crash August 25, 2015 US traders seemed to regain their optimism during the first few minutes of today's session, following a day during which markets across the pond yo-yoed wildly. The S&P 500, which ended yesterday more than three per cent down, rose more than two per cent to 1,931 .5 points in the first minutes of trading, while [...]
Saudi Aramco targets London, New York, and Hong Kong for international listing May 9, 2016 The public listing of what could become the world's most valuable company, Saudi Arabian oil company Aramco, looks on course to happen in London. London – previously reported by City A.M. as a leading contender for the state-run company's IPO – has been named as part of a potential three-way foreign listing, along with rival global financial centres Hong Kong and New York. Shares [...]
Tech glitch puts US in the ditch – New York Report July 8, 2015 US STOCKS ended sharply lower on yesterday after a hectic day that included market turmoil in China eclipsing Greece’s debt crisis, while the New York Stock Exchange suffered a major outage. Fears that a rout in Chinese stocks could seriously harm its economy pushed the S&P 500 below its 200-day moving average for the first [...]
Twitter share price soars after hoax news story on a fake “Bloomberg” site fools investors July 14, 2015 Twitter's share price was sent soaring over eight per cent today as investors fell for a hoax news story claiming the social media network was considering a $31bn takeover. Read more: G4S share price plummets after fake press release “reveals” £400m profit overstatement The report was posted on bloomberg.market this morning; a site appearing to impersonate [...]