Click to enlarge…
© The Financial Times Ltd 2015 FT and 'Financial Times' are trademarks of The Financial Times Ltd.
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.
Picture the scene in the London borough of Hounslow on Tuesday lunchtime, as police moved in to arrest one Navinder Singh Sarao, holed up in a humble
end-of-terrace post-war semi.
There’ll have been prior discussion of the possible need for a special forces sniper overwatch. Someone will have remarked on the security implications of having a man like this, with a Muslim-sounding name, apparently living so close to one of the world’s major transportation hubs, airliners passing just a few hundred feet overhead every 90 seconds or so on their way to Heathrow.
You’ll have to be quick to take advantage of this.
The early bird half price ticket offer for Alphaville’s annual finance festival in London (July 1 in the grounds of the HAC) expired on Sunday.
But an email extending the £99 offer to members of the Long Room went out late, on Monday, with this discount code… Read more
With Greek sovereign yields blowing wider on Thursday (and pretty much staying there), it’s worth revisiting what exactly might happen if, say, May 1 arrives and Greece fails to pay the €200m due to the IMF that day.
Received wisdom has it that the ECB will withdraw the ELA — emergency liquidity assistance — currently propping up the Greek banking system, which will promptly collapse; Tsipras and Co would then be forced to bring back the Drachma (or similar) and Greece would exit the eurozone.
But what do the “rules” here say? In the case of the ELA they run to all of two pages. Click the image to read in full. Read more
Yay! A fresh “update” from Worthington, the wannabe global conglomerate.
The Company provides the following clarification of its announcement on 31st March 2015, which stated that “the Company is therefore pleased to inform shareholders that it has been negotiating to merge with an overseas listed company on terms that would represent a significant premium to the Company’s suspended share price”. Read more
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…