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☆ WE Soda to sell shares in rare London IPO
▼ + stars: | 2023-05-31 | by ( ) www.reuters.com time to read: +2 min

LONDON, May 31 (Reuters) - WE Soda, the world's largest producer of natural soda ash, said on Wednesday it planned to list shares on the London stock exchange, in a boost for Britain's flagging initial public offering (IPO) market. The UK-based company, which produces soda ash for a variety of uses including glass manufacturing, is considering applying for admission to trade on the premium segment of the London Stock Exchange (LSE). Though proceeds raised in London IPOs fell 90% last year, according to research by consultancy EY, the British capital has seen some activity in recent months. Earlier in May, Admiral Acquisition (ADMR.L), a special purpose acquisition company (SPAC) founded by veteran dealmaker Martin E. Franklin, raised $550 million in a London flotation. In April, Melrose Industries (MRON.L) listed the former automotive division of British engineer GKN under the name Dowlais (DWL.L) on the LSE.

Persons: Goldman Sachs, Morgan Stanley, London IPOs, EY, dealmaker Martin E, Franklin, GKN, Pablo Mayo, Jason Neely, Mark Potter Organizations: London Stock Exchange, LSE, Ciner, Press, JPMorgan, BNP, Deutsche Bank, Liberum, European Union, Melrose Industries, Thomson Locations: London, Cambridge

☆ Britain is getting so desperate to tame inflation it’s talking about food price caps
▼ + stars: | 2023-05-30 | by ( Hanna Ziady | ) edition.cnn.com time to read: +6 min

Food inflation dipped slightly to 15.4% in May, but that’s still the second-highest rate on record. But chocolate and coffee prices are rising as global commodity prices soar, British Retail Consortium CEO Helen Dickinson said. Price controls anyone? “The current food price shock does not warrant such an intervention,” he added. Brexit is responsible for about a third of UK food price inflation since 2019, according to researchers at the London School of Economics.

☆ LSE teams with digital trading platform to offer bitcoin futures and options
▼ + stars: | 2023-04-13 | by ( Huw Jones | ) www.reuters.com time to read: +2 min

LONDON, April 13 (Reuters) - London Stock Exchange Group has teamed up with Global Futures and Options (GFO-X) to offer Britain's first regulated trading and clearing in bitcoin index futures and options derivatives, the companies said on Thursday. GFO-X, which is licensed by the UK's Financial Conduct Authority, is a start-up platform aimed at global institutional investors who want to trade digital asset derivatives. LSEG's Paris-based LCH SA clearing unit will introduce a new, segregated clearing service, DigitalAssetClear, for cash-settled dollar-denominated digital assets traded on GFO-X. "GFO-X is taking the first steps to extracting efficiencies from new technologies within a traditional market structure, with the goal over time of delivering 24/7 trading to global regulated digital asset markets," GFO-X said in a statement. Frank Soussan, head of LCH DigitalAssetClear, said bitcoin index futures and options are a rapidly growing asset class, with increasing interest among institutional investors.

☆ CHARTS: We analyzed revenue per employee to show why Amazon, Meta, and others are axing workers with brutality and speed
▼ + stars: | 2023-03-31 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +6 min

One productivity metric to watch is revenue per employee, which has fallen at some big firms. Tech companies swelled in the years up to and during the pandemic, but more manpower didn't necessarily mean more money. The chart shows Amazon, Meta, and Twitter in particular hired heavily from 2018, but also experienced declining revenue per employee. Size isn't everythingAnd how have tech companies fared against each other? The chart above shows Amazon and Salesforce are producing roughly the same revenue per employee as Twitter despite having tens of thousands more workers: each employee at Amazon generated $333,550 in revenue last year, while Salesforce employees generated $394,911.

Credit Suisse staff had already been seeking to jump ship in recent weeks, sources told Reuters. "Many Credit Suisse bankers had already been talking to a lot of people for a while [about leaving the Swiss bank]. An executive at a rival London-based wealth manager said they had seen a steady flow of CVs coming in from Credit Suisse bankers. UBS told Credit Suisse wealth bankers on Monday that it was weighing financial sweeteners for them to stay, as it seeks to reassure key staff. Some experts have said Britain's financial services industry could ultimately benefit from recent bouts of turmoil in the United States and Switzerland.

[1/2] A worker shelters from the rain under a Union Flag umbrella as he passes the London Stock Exchange in London, Britain, October 1, 2008. REUTERS/Toby Melville/File PhotoLONDON, March 3 (Reuters) - London risks losing its appeal for stock market listings, some investors and financial executives said, with sluggish trading and low valuations driving more companies to float elsewhere. That dashed government hopes that Arm, seen as a British tech success story, would return to the London market, where it was listed before being taken over in 2016. Arm's announcement came a day after Dublin-based construction materials company CRH recommended moving its primary listing from London to the United States. But British companies that floated in New York have not necessarily had the smooth ride they expected, data compiled by the London Stock Exchange (LSE) (LSEG.L) suggests.

☆ London Stock Exchange urges rapid UK reforms after Arm's snub
▼ + stars: | 2023-03-03 | by ( ) www.reuters.com time to read: +1 min

LONDON, March 3 (Reuters) - The London Stock Exchange said on Friday that chip designer Arm's decision to pursue a U.S.-only listing this year rather than return to London's stock market showed Britain needed to speed up plans for regulatory and market reforms. Arm, owned by Japan's SoftBank (9984.T), is to pursue a U.S.-only listing this year, dashing the British government's hopes that the tech giant would choose London. "Arm is a great British company and a world leader in their field which we continue to believe can be very well served by the UK capital markets," said Julia Hoggett, chief executive of London Stock Exchange plc, part of London Stock Exchange Group (LSEG.L). Arm has not completely ruled out an eventual London listing and has said it intends to consider a subsequent IPO there in due course, without providing further details. On Thursday, Dublin-based building materials group CRH (CRH.L) had announced a decision to its primary listing from London to the United States.

☆ LSE Group targets Blackstone/Thomson Reuters stake buyback as it raises outlook
▼ + stars: | 2023-03-02 | by ( ) www.cnbc.com time to read: +2 min

"In addition to our existing share buyback, we are today announcing plans to seek shareholder approval for a buyback directed towards the Blackstone/Thomson Reuters consortium's stake, which will benefit all shareholders," LSEG Chief Executive David Schwimmer said in a statement. The directed buyback is expected to be up to 750 million pounds by April 2024, LSEG said. Schwimmer said the consortium owned just over 30% of LSEG shares when the Refinitiv deal was completed. Thomson Reuters, the parent company of Reuters News, owned about $5.6 billion worth of LSEG shares as of Jan 31. LSEG said 300 million pounds of a separate, broader 750 million pound share buyback was carried out in 2022, with the remainder to be completed by July 2023.

☆ LSE Group targets Blackstone/Thomson Reuters stake buyback as raises outlook
▼ + stars: | 2023-03-02 | by ( Huw Jones | ) www.reuters.com time to read: +4 min

"In addition to our existing share buyback, we are today announcing plans to seek shareholder approval for a buyback directed towards the Blackstone/Thomson Reuters consortium's stake, which will benefit all shareholders," LSEG Chief Executive David Schwimmer said in a statement. The directed buyback is expected to be up to 750 million pounds by April 2024, LSEG said. LSEG said 300 million pounds of a separate, broader 750 million pound share buyback was carried out in 2022, with the remainder to be completed by July 2023. TARGETSLSEG's total income, including recoveries, of 7.743 billion pounds ($9.28 billion) in preliminary results for 2022, was just above analysts' consensus of 7.733 billion pounds, and up from 6.535 billion in 2021. LSEG also raised its guidance on revenue synergies from 225 million pounds by 2025 to 350-400 million pounds.

☆ Initial Brexit deal reaction from Belfast 'grounds for optimism,' LSE professor says
▼ + stars: | 2023-02-28 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailInitial Brexit deal reaction from Belfast 'grounds for optimism,' LSE professor saysTony Travers, director of the Institute of Public Affairs at the London School of Economics & Political Science (LSE), discusses the new Brexit deal between the U.K. and the EU, and early responses from Northern Ireland.

☆ Debt ceiling 'game of chicken' will terrify markets -Bain Capital's Lavine
▼ + stars: | 2023-01-24 | by ( Nell Mackenzie | ) www.reuters.com time to read: +2 min

LONDON, Jan 24 (Reuters) - If the U.S. Congress becomes mired in an argument on whether to raise the debt ceiling, this will hurt the U.S. economy and rattle financial markets, a top executive at private equity firm Bain Capital said on Tuesday. "The debt ceiling is a real risk that will come to a point where it will terrify markets, because it is a wild game of chicken," Jonathan Lavine, co-managing partner at Bain Capital, which manages $160 billion in assets globally, told an event. House Republicans want to use that critical deadline to force spending cuts, while the White House has said there should be no negotiations over lifting the debt limit. Expectation of a recession has made markets more sensitive to unanticipated risks, Lavine told attendees at a London School of Economics (LSE) conference. Reporting by Nell Mackenzie; additional reporting Jason Lange; editing by Yoruk Bahceli and Susan FentonOur Standards: The Thomson Reuters Trust Principles.

☆ Columbia University will be led by a woman for the first time in its 268-year history
▼ + stars: | 2023-01-18 | by ( Ashton Jackson | ) www.cnbc.com time to read: +4 min

Since 1754, Columbia University has had a male president — but that's about to change. The University announced Wednesday that Nemat (Minouche) Shafik, a leading economist and author, will become its 20th president and first woman leader. In an announcement from Columbia's Board of Trustees, Shafik was praised for her character and dedication to sparking change. By age 36, Shafik had become the youngest-ever vice president of the World Bank in the 1990s. "I feel like, if I had looked all over the world for the best person to next lead Columbia, I would have chosen Minouche Shafik," Bollinger said in a statement.

☆ Thomson Reuters Corp and London Stock Exchange Group expand partnership
▼ + stars: | 2023-01-17 | by ( ) www.reuters.com time to read: +2 min

[1/3] A Thomson Reuters logo is pictured on a building during the World Economic Forum (WEF) annual meeting in Davos, Switzerland January 25, 2018. REUTERS/Denis Balibouse/File PhotoJan 17 (Reuters) - The London Stock Exchange Group(LSEG.L) and Thomson Reuters Corp(TRI.TO) will expand a long-term partnership that will include investments in the newsroom and an agreement to launch consumer subscription products, the companies said on Tuesday. The agreement resolves a dispute over plans by Reuters News in 2021 to launch a subscription paywall for the Reuters.com website. The agreement will include an investment in 100 editorial roles in the Reuters newsroom focused on financial and markets coverage. Reporting by Kenneth Li in New York; Editing by Howard GollerOur Standards: The Thomson Reuters Trust Principles.

☆ This global stock exchange is under-valued and offers a 'very good' entry point for investors, outperforming fund strategist says
▼ + stars: | 2023-01-12 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

Shares of the London Stock Exchange Group are trading at a "very good" entry point for investors after a 10% decline in the bourse's stock over the past month, according to a fund strategist. Hannah Gooch-Peters, global equity investment analyst at Sanlam Investments, said the U.K.'s premier stock exchange had performed well in the past year due to the volatility in the fixed-income markets and the high spot prices of commodities. LSEG-GB 5Y line The share price of the London Stock Exchange Group has risen by 101% between Jan 2018 and Jan 2023. The London Stock Exchange Group, which goes by the ticker LSEG, is the fifth largest holding at 4.1% of Gooch-Peters' $480 million fund. However, the consensus price target of analysts compiled by FactSet shows a 24% upside from the current share price.

☆ Apple vs. Microsoft? One outperforming fund manager picks his favorite — and explains why
▼ + stars: | 2022-12-13 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

Apple The Switzerland-based fund manager says Apple's shares have performed relatively better than Microsoft's because it has spent $90 billion buying back shares in the last financial year, compared to Microsoft's $30 billion of buybacks. Dodds believes this masks underlying weaknesses in Cupertino-headquartered Apple's business. Microsoft On the other hand, Dodds highlighted steps that Microsoft is taking that make it a better investment. Whereas Dodds said Apple relies on a handful of highly profitable revenue streams to keep up growth. "They rely a lot on the consumer continuing to convince themselves that an Apple 14 is a must have over an Apple 13."

[1/2] Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., December 7, 2022. Microsoft Corp (MSFT.O) rose 2% following the tech giant's deal to buy a 4% stake in the London Stock Exchange Group (LSEG.L), powering much of Wall Street's gains. The benchmark S&P 500 (.SPX) looked to rebound from its worst weekly performance since late September, sparked by dour comments from top U.S. executives and mixed economic data. Fears of an economic downturn have hammered Wall Street's main indexes this year, with the Nasdaq (.IXIC) and the S&P 500 down 29.4% and 17%, respectively. Eight out of the 11 major S&P sector indexes were in the green, led by energy (.SPNY), utilities (.SPLRCU) and technology stocks (.SPLRCT).

[1/2] Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., December 7, 2022. Wall Street's main indexes have slumped this year on fears of aggressive rate hikes triggering a U.S. recession. The Nasdaq and the S&P 500 (.SPX) have fallen 29.5% and 17.2%, respectively, so far in 2022 and are on track for their worst yearly performance since 2008. Seven out of the 11 major S&P 500 sector indexes were in the green, led by energy (.SPNY) and technology stocks (.SPLRCT). The S&P index recorded no new 52-week highs and two new lows, while the Nasdaq recorded 29 new highs and 136 new lows.

☆ Jim Cramer's top 10 things to watch in the market Monday: CPI then Fed, Big Tech, J&J boost
▼ + stars: | 2022-12-12 | by ( Jim Cramer | ) www.cnbc.com time to read: +3 min

Oppenheimer cuts its price target on Apple to $170 per share from $190; but keeps outperform (buy) rating. Separately, Wells Fargo downgrades rating Qualcomm (QCOM), another Club name, to underweight from equal weight (sell from hold). As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade.

☆ Israel's NewMed Energy leaning towards floating LNG expansion
▼ + stars: | 2022-11-24 | by ( Steven Scheer | ) www.reuters.com time to read: +3 min

JERUSALEM, Nov 24 (Reuters) - Israel's NewMed Energy (NWMDp.TA) said on Thursday it was leaning towards building a floating liquefied national gas (FLNG) terminal to further develop its Leviathan gas field off Israel's Mediterranean coast. "The floating (LNG terminal) is really where we are heading right now," chief executive Yossi Abu told Reuters after NewMed issued third-quarter financial results that beat estimates. NewMed earned a net $123 million in July-September, compared with a $50 million loss a year earlier. Revenue net of royalties from natural gas rose 28% to $265 million in the quarter. Over the first nine months of the year, 8.5 bcm of natural gas has been produced from Leviathan, NewMed said.

Adjusted earnings per share came in at 57 cents, 7 cents ahead of estimates. Thomson Reuters' peers include RELX Group’s (REL.L) LexisNexis, Bloomberg LP, News Corp's (NWSA.O) DowJones, and Wolters Kluwer (WLSNc.AS). Thomson Reuters holds a minority stake in the LSE, worth about $6.3 billion as of Friday. Thomson Reuters will be "quite a bit more aggressive in the next few quarters in looking at acquisitions," he said. Reporting by Ken Li and Nick Zieminski in New York Editing by Mark PotterOur Standards: The Thomson Reuters Trust Principles.

The Toronto-based company recorded $1.57 billion in sales during the quarter, up 3%, slightly below expectations of $1.59 billion. Adjusted earnings per share came in at 57 cents, 7 cents ahead of analyst estimates. But it noted that 2023 margins were trending towards the lower end of the 39%-40% range amid heightened inflation and investments. Thomson Reuters' peers include RELX Group’s (REL.L) LexisNexis, Bloomberg LP, News Corp's (NWSA.O) DowJones and Wolters Kluwer (WLSNc.AS). Reporting by Ken Li and Nick Zieminski in New York Editing by Mark PotterOur Standards: The Thomson Reuters Trust Principles.

☆ Top Russian lender Sberbank expands financial terminal capabilities
▼ + stars: | 2022-10-27 | by ( ) www.reuters.com time to read: +1 min

As Western businesses have left the market, Russian businesses have sought to pick up the pieces, finding ways to replace departing firms. London Stock Exchange Group's (LSEG.L) data platform Refinitiv and rival Bloomberg suspended their services, including financial products. Sberbank said its platform now included analytical and research materials, as well as daily trading overviews in commodities, funding and FX. Thomson Reuters (TRI.TO), the parent of Reuters News, holds a minority stake in the LSE after the exchange bought Refinitiv from it. Sberbank's platform, previously known as Sberbank Markets, has been used by 5,000 corporate clients, Sberbank said.

One of the sources, in investment banking circles, said Softline was aiming to list in the third quarter of 2023. The sources declined to be identified because the plans have not been made public. Cybersecurity firm Positive Technologies held a secondary public offering late last month, defying a plunging stock market as Russia launched a partial mobilisation of additional servicemen. London-listed Softline Holding plc (SFTLq.L) began operating under a new brand, NOVENTIQ, on Thursday, after completing the sale of its Russian operations to founder Igor Borovikov. Softline said in a statement on Thursday that spinning off its Russian business was aimed at optimising its local growth strategy and potentially listing securities on the stock exchange.

☆ Cinemas are screening the Queen's funeral. Here's what else is open on Monday
▼ + stars: | 2022-09-18 | by ( Anna Cooban | Cnn Business | ) edition.cnn.com time to read: +6 min

London (CNN Business) Much of Britain came to a standstill on Monday for the funeral of Queen Elizabeth II . A company spokesperson told CNN Business that its venues would open on Monday "for communities to gather to mourn and reflect together on the life of the Queen." Travelodge, which has 78 budget hotels in London, said its staff were working "around the clock" in preparation for the Queen's funeral. Most major supermarkets — which normally remain open on public holidays for a reduced number of hours — are planning to close for the funeral. Apple AAPL confirmed to CNN Business that it would close all of its 39 stores in the country on Monday.

☆ Нацбанк утвердил Георгия Шагидзе главой MAIB
▼ + stars: | 2021-05-13 | by ( ) ru.diez.md time to read: +3 min

Moldova Agroindbank (MAIB) рад сообщить, что Национальный Банк Молдовы (НБМ) официально утвердил 13.05.2021 г. кандидатуру Георгия Шагидзе на должность Председателя Правления банка. Ранее г-н Шагидзе был назначен на эту должность Советом MAIB и, в соответствии с существующими правилами, проходил процедуру утверждения НБМ. За 10 лет деятельности в TBC, банк увеличил свои активы более чем в восемь раз, став крупнейшим банком Грузии. Я хотел бы поблагодарить Нацбанк Молдовы, Совет MAIB и его акционеров за то, что доверили мне такую важную роль», — заявил глава Moldova Agroindbank. О MAIBMAIB — крупнейший банк Молдовы, на долю которого приходится около 30% банковских активов страны и около 35% кредитов.

Persons: MAIB, Invalda INVL, Георгий Шагидзе, Шагидзе Organizations: TBC Bank, Barclays Bank, TBC Uzbekistan, Moldova Agroindbank, — Moldova Agroindbank, CFA, HEIM Partners, Horizon, Национальный Банк Молдовы (НБМ), Правление банка, Совет, НБМ, Лондонская фондовая биржа (), Лондонская фондовая биржа, Национальный Банк, Нацбанк, Кембриджский университет, Тбилисский госуниверситет, ЕБРР Locations: Moldova, — Moldova, Грузия, Лондон, Дубай, Узбекистан, Молдова, Великобритания, Балтия, Европа

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