June 29, 2011 |
The London and Toronto stock exchanges have abandoned plans for a $3.4-billion tie-up, leaving both in play in a world facing a wave of exchange consolidation. The failure of the bid from the London Stock Exchange for TMX Group opens the door to a hostile offer for the operator of the Toronto Stock Exchange from Canada's Maple Group consortium, a made-in-Canada alternative to a takeover that would have put a big domestic asset in foreign hands. It also turns the spotlight on the London Stock Exchange as a target as exchanges consolidate to grow and broaden their geographic reach, as well as to fight off rivals and new market entrants.
February 14, 2011 |
New York's senior U.S. senator wants assurance that a merger between the New York Stock Exchange and Germany's Deutsche Boerse would keep "New York" first in the combined parent company's name. Sen. Charles E. Schumer said Sunday that although there were "a number of things to like" about the potential combination, the name of the new entity could be a deal breaker for him. "It is totally logical to keep the NYSE name first," Schumer, a Democrat, said in a statement. "If for some reason, the Germans sought an alternative option, it could be an indication that they are trying to wield an upper hand in the new company and would seek to make other business decisions that could go against New York.
February 10, 2011 |
The citadel of American capitalism soon could be foreign-owned. The parent company of the New York Stock Exchange is in advanced talks to be acquired by the owner of the Frankfurt stock exchange in a deal that would create a behemoth financial-market operator valued at about $25 billion. The transaction being negotiated by NYSE Euronext and Germany's Deutsche Boerse would put the Big Board's trading floor, which became a flag-draped patriotic symbol in the wake of the 9/11 terrorist attacks, under overseas control.
June 25, 2010 |
The stock of Hudson Pacific Properties Inc., a real estate investment trust founded by Los Angeles investor Victor Coleman, closed up 2.4% from its initial offering price in its first day of trading on the New York Stock Exchange. The company, based in West Los Angeles, said it priced its shares at $17 apiece and raised $210.5 million after fees in its initial public offering. Shares closed Thursday at $17.40. Hudson Pacific, which trades under the ticker symbol HPP, said it intends to use the proceeds to repay mortgage debt, to fund acquisitions and for general corporate and working capital purposes.
May 10, 2010 |
The leaders of six major financial exchanges agreed in principle Monday to strengthen so-called circuit breakers that halt fast-falling electronic trading and help prevent market nose dives, the Securities and Exchange Commission said. The announcement came after a day of high-level meetings in Washington and ahead of an emergency congressional hearing Tuesday as regulators and lawmakers try to avoid a repeat of last Thursday's rapid plunge that briefly left the Dow Jones industrial average down nearly 1,000 points.
May 5, 2010 |
China's leading stock exchange continued its long slide Tuesday, tumbling to its lowest close in seven months after the central government introduced another measure over the weekend to try to slow the nation's surging economy. The Shanghai composite index, which was closed Monday for Labor Day , fell 1.2% in response to a central-bank announcement Sunday that it would require Chinese banks to increase the amount of capital they hold in reserve, the third such increase this year.
March 15, 2010 |
KISS guitarist Paul Stanley fluffed his thick, shaggy hair as bassist Gene Simmons fidgeted in the background, their eyes looped in black makeup, faces painted chalky white. As the seconds counted down to 4 p.m., Stanley leaned on the green button in front of him. "Clang, clang, clang!" went the bell as the clock struck the top of the hour. Flap, flap, flap went Simmons' famous tongue, stretching to the tip of his chin and back again. "Bang!" went the gavel, which Stanley brought down with a thud.
March 11, 2009 |
Syria launched its first stock exchange in decades Tuesday in a bid to upgrade its financial system and attract much-needed foreign investment to its growing economy. The country, which is seeking to privatize its once heavily state-owned economy and draw new investments into its ailing public sector, is shifting from decades of socialist policies toward a more market-oriented system.
June 11, 2008 |
China's main stock index plummeted 7.7% on Tuesday, its biggest drop in a year, leading a second straight day of broad declines in Asia amid worries over inflation and slower economic growth. The 257-point loss brought the Shanghai composite index to 3,072 points, the lowest close since March 2007.
February 12, 2008 |
The Dow Jones industrial average is getting its first makeover since April 2004. Dow Jones & Co. said Monday it would add Bank of America Corp. and Chevron Corp. to the 30-stock index Feb. 19, and kick out Altria Group Inc. and Honeywell International Inc. The Dow index's keepers said the revisions were prompted by Altria's spinoff of Kraft Foods last March and the planned divestiture of the company's foreign tobacco unit. The additions of Bank of America, the biggest U.S. bank by market value, and Chevron, the country's second-largest fuel producer, reflect the growing importance of financial and energy companies in the U.S. stock market, Dow Jones said.