GrubHub targeting $2bn New York Stock Exchange valuation April 1, 2014 GRUBHUB, the US food delivery service similar to Britain’s Just Eat, has raised its expected share price range up to between $23 and $25 ahead of its listing on Friday. The price range will raise GrubHub about $176m from its initial public offering (IPO), with a top end valuation of around $1.9bn (£1.14bn). GrubHub, backed by [...]
Google just hired Morgan Stanley finance chief Ruth Porat as its new CFO March 24, 2015 Google has named a replacement for departing finance chief Patrick Pichette. Ruth Porat will leave her role as finance chief at Morgan Stanley to fill Pichette’s shoes after the long-standing executive revealed he was departing the internet giant just under two weeks ago. Investors responded positively to the news – shares were up by around [...]
RBS cuts stake in US with $3bn Citizens sale March 23, 2015 RBS WILL cut its stake in US bank Citizens to below half this week, as it yesterday announced plans to sell off more shares in the lender. The bailed-out British bank is cutting down its overseas presence to focus on the UK market. It floated Citizens on the New York Stock Exchange six months ago, [...]
Good health cheers Dow at month’s start – New York Report December 1, 2015 Health and consumer shares bounced back yesterday while car sales suggested upbeat growth in November, giving the markets a positive start to December. The Dow Jones industrial average rose 168.43 points, or 0.95 per cent, to 17,888.35, the S&P 500 gained 22.22 points, or 1.07 per cent, to 2,102.63 and the Nasdaq Composite added 47.64 [...]
Obituary John Whitehead February 8, 2015 John Whitehead, a former senior partner and co-chairman of Goldman Sachs who helped make it a top-tier Wall Street firm and led its international expansion, has died, the investment bank said. He was 92. Whitehead joined Goldman Sachs in 1947 and worked his way to the highest rung of its corporate ladder before leaving after [...]
Travelport hits turbulence with ongoing losses February 23, 2015 TRAVELPORT, the UK travel business which recently floated on the New York Stock Exchange, fell yesterday upon reporting its maiden set of quarterly results. Shares in the group closed down 3.5 per cent after the news. The slide came after the group reported a loss of $43m (£27.8m) during its fourth quarter to 31 December [...]
Twitter share price soars following massive increase in revenue February 6, 2015 Twitter’s share price is soaring in early trading on the New York Stock Exchange. Investors have shrugged off any concerns about slow growth in monthly active users and are instead being swayed by fourth-quarter revenue that came in ahead of expectations. Revenue at the social media company reached $479m (£314m) for the [...]
LendInvest IPO: P2P mortgage firm hoping to be City’s first public crowdfunding site February 2, 2015 Peer-to-peer (P2P) mortgage firm LendInvest is hoping to be the first crowdfunding business to list on the London Stock Exchange with plans afoot for its debut in the next 12 months. The group’s chief executive Christian Faes told City A.M. that while the business has yet to appoint bankers to work on it, he said [...]
Alibaba’s growth misses target making Yahoo investors groan January 29, 2015 ONLINE media group Yahoo, one of Alibaba’s largest shareholders, saw its shares tumble 5.8 per cent yesterday after the Chinese e-commerce giant reported slower than expected growth. Alibaba’s revenue rose 40 per cent to $4.22bn (£2.8bn) in the quarter to the end of December, but missed analyst’s expectations of $4.45bn, sending its shares down 8.8 [...]
London’s pharma sector gets a boost as Shield and Faron announce plans to float in the capital October 12, 2015 The Chinese market turmoil has not destroyed confidence in the UK's pharmaceutical sector, as two companies today announced plans to float in the capital. Newcastle-based Shield Therapeutics and Finnish Faron Pharmaceuticals are both planning to launch their IPOs on the London Stock Exchange in the near future, although neither confirmed definite dates. Read [...]