From the British prime minister’s official Twitter feed on Tuesday…
Inflation is running at 0% – the lowest on record. It's good news for family budgets and a sign our long term plan is working.
— David Cameron (@David_Cameron) March 24, 2015
Paul Murphy is the founding editor of FT Alphaville and an associate editor of the Financial Times. He joined the FT in London in 2006 as development editor of FT.com, concentrating on the expansion of the online business. Prior to that, he served as the Guardian’s financial editor for seven years. He has also held senior positions in business journalism at the Sunday Business newspaper and the Daily Telegraph. Murphy is a graduate of the London School of Economics.
Fresh out of Riyadh…
Saudi Oil Minister Ali Al-Nuaimi Sunday proposed establishment of an association dedicated for petroleum media, which comprised of Gulf and Arab journalists covering energy affairs. Saudi Arabia is ready to support the establishment of this association with the objective of boosting transparency among GCC countries and prepare oil strategies of the Arab Gulf countries… Read more
There’s a parallel reality thing going on with Alibaba, the sprawling Chinese e-commerce conglomerate.
On the one hand it’s deals, deals, deals. Here it is reportedly pouring $1bn into an Indian online retailer, Snapdeal, so said company can continue waging a price discounting battle with India’s biggest online retailer, Flipkart. Here it is forging a trade finance partnership with an entity called ezbob, which was formerly the business finance arm of pay-day lender Wonga.
And here’s the company’s market performance since September’s frenzied, record-setting IPO: Read more
Click and gawp.
Rhetorical question, just to share this chart from Dominik Winnicki and team at Barclays (click to enlarge)…
Worth noting this, since Arthur Leonard Robert Morton (73), commonly known as “Bob,” has been a fixture at the smaller end of the London stock market for as long as anyone can remember…
This is a public statement of censure by the Panel Executive of Mr Bob Morton for his failure to make an offer under Rule 9 of the Takeover Code (the “Code”) in compliance with the Code in connection with the purchases of shares in Armour by Mr Morton’s four sons in June and August 2011, and certain associated breaches of Rule 5 and Rule 2.
This is not just a save-the-date. It’s a save-the-date-and-grab-a-bargain.
Camp Alphaville at the Honourable Artillery Company, EC1 — July 1, 11 till 8.
ULTRA EARLY BIRD SPECIAL – 50 QUID A TICKET FOR THE FIRST 50 SIGN UPS USING THIS SECRET CODE…
Given some readers will have followed our November report that Amaya Gaming Group of Canada seemed to be preparing a £1.2bn takeover offer for London-listed Bwin.Party Digital Entertainment, it’s only fair that we now share the following — from erstwhile colleagues at Dealreporter:
Bwin.party’s [LON:BPTY] potential suitors are rumoured to have lost interest in acquiring the company, two bankers following and an industry source with knowledge of the situation said. Read more
Click the image for the full out-of-this-Bloomberg experience…
Box Inc, just another cloud storage company out of Silicon Valley, looked to be just another SV mania company hitting Wall St when it priced it’s IPO last week. Against an allegedly cautious pricing at $14 a share (one dollar above the indicative range, natch) the market price surged to a day one high of $24.73. But look at the price chart since then…
In the UK, Monday saw the launch of Onthemarket.com, a supposed attempt to break the online property portal duopoly in Britain, currently consisting of Rightmove and Zoopla.
The new challenge has come from Agents’ Mutual, a sizeable consortium of estate agents who want to regain control of the homebuyer audience. About 25 per cent of agents have signed up on the condition they stop advertising properties on the two incumbent sites, opting instead to fix monthly listing fees for five years – and escape the escalating monthly charges levied by Rightmove and Zoopla. Read more
Seven months have ticked by since hedge fund Marshall Wace spun out P2P Global, an investment trust focused on lending through peer-to-peer lending platforms. About £200m was raised at flotation and, by November, with about three quarters of those initial funds deployed, P2P said it was actively considering a fresh stock offer.
“Safe” dividend stocks, to be precise.
It’s a straightforward argument: as yields on high-grade government debt increasingly turn negative, so the search for income amongst investors will channel money into quality equities. Read more
The Chinese government seems to have noticed that the country has no policy institutes or think tanks with global clout. So it’s going to get some. Up to a hundred, in fact. But this isn’t Xi Jinping reworking Mao’s famous 100 flowers campaign. Wouldbe think takers are not being invited to think freely…
A new type of think tanks with Chinese characteristics would support development and strengthen soft power, according to a guideline issued Tuesday.
Eric Dor of the IESEG School of Management in Lille has a handy table. Click to enlarge…
The price of life in retail FX land….
The loan has an initial interest rate of 10% per annum, increasing by 1.5% per annum each quarter for so long as it is outstanding, but in no event exceeding 17% per annum (before giving effect to any applicable default rate). It is also subject to various conditions and terms such as requiring mandatory prepayments, including from proceeds of dispositions, condemnation and insurance proceeds, debt issuances, and equity issuances. The credit agreement includes a variety of restrictive covenants, including, but not limited to, limitations on the ability to merge, dissolve, liquidate, consolidate or sell, lease or otherwise transfer all or substantially all assets; limitations on the incurrence of liens; limitations on the incurrence of debt by subsidiaries of the company; and limitations on transactions with affiliates, without the prior consent of the lender. Read more
Ive came back to my computer and Alpari have closed all my trades, loosing over $1000 off of my current balance, anyone got any idea what may have happened!!! they arent answering the phone!!
Same thing has happened to me… trying to open a trade manually it says that trading is disabled…
Alpari have closed my short Eur/Usd trade and are not answering the phone!!!!