Medtronic nears deal for pharma rival Covidien June 16, 2014 THE WORLD’S biggest medical devices maker Medtronic is on the verge of clinching the largest cross-border drug merger ever after nearing an agreement with Irish rival Covidien. Medtronic, listed on the New York Stock Exchange, could announce as soon as today a stock and cash deal worth between $45bn (£26.5bn) and $50bn to takeover the [...]
Euronext to list on its markets as ICE gets out May 27, 2014 EURONEXT is to list shares on four of its own stock exchanges across Europe as it becomes an independent company, its American owner Intercontinental Exchange (ICE) said yesterday. The firm will float on the Euronext markets in Paris, Amsterdam and Brussels in the next few months, before listing shares in Lisbon later in the year. [...]
What caused the 2008 financial crisis? Not short selling, it turns out August 8, 2014 It has been asserted that the 2008 financial crisis was precipitated, at least in part, by too many traders using naked short sales to make a profit. According to economist Veljko Fotak from the University at Buffalo School of Management in the US, a number of financial institutions blamed this activity when they had to [...]
What you need to know before the US open May 8, 2014 US markets are expected to open higher today following Vladimir Putin’s more conciliatory stance towards the Ukrainian election, and better than expected initial jobless claims numbers. The number of people signing on for unemployment benefit for the first time fell by 26,000 last week, to 319,000. Over here in Europe, both the Bank of England [...]
US firm Shutterstock snaps up British photographic press agency Rex Features for $33m January 15, 2015 US firm Shutterstock, a leading provider of commercial digital imagery and music, yesterday agreed to buy British photographic press agency Rex Features. The New-York based firm will pay $33m (£21.7m) for Rex, which is the largest independently-owned photographic press agency in Europe. Based in London, Rex provides media companies and advertisers with current affairs [...]
Manchester United drop to third in Forbes’ world’s most valuable sports teams list July 18, 2014 They may be signing up sponsors like they're going out of fashion this week, but Manchester United have dropped one place to third in the annual Forbes list of the world's most valuable sports teams. The Premier League club have endured their worst season for over two decades, finishing seventh and missing out on a [...]
Charles Li tells Santa all about big bad Alibaba December 22, 2014 Writing a letter to Santa is pretty standard at this time of year, mostly for those between the age of four and nine. But penning a note to Little Saint Nick isn’t beyond some middle-aged finance chiefs, The Capitalist hears. Charles Li, the chief executive of the Hong Kong Stock Exchange, has written a [...]
Chinese behemoth Alibaba unveils blockbuster float plan May 6, 2014 CHINESE web giant Alibaba last night unveiled plans for one of the biggest stock market floats ever, giving investors a rare chance to tap the country’s burgeoning consumer market. Alibaba, which offers similar services to those of western tech companies Amazon, eBay and PayPal all rolled into one combined offering for selling goods online, published [...]
United chief Glazer dies in Florida home at age of 85 May 28, 2014 MANCHESTER United were last night mourning the loss of owner Malcolm Glazer, who died aged 85. The Glazer family purchased 90 per cent of shares in the 20-time Premier League champions in 2005 and sons Joel and Avi have most recently acted as United’s co-chairmen. Their father’s death is thought unlikely to have a significant [...]
Alibaba heads towards $200bn New York float April 16, 2014 CHINESE e-commerce titan Alibaba could reach a market valuation of over $196bn (£116.7bn) on its stock market debut, according to IG’s grey market trading leading up to the float. Alibaba, which offers a mix of commerce services somewhere between Amazon and eBay with a transaction volume larger than both combined, is expected to file its [...]