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City groups in discussions to help struggling UK businesses

Big investors and institutions across the City of London are considering relaxing shareholder protection principles in an effort to allow British companies to raise cash quickly during the coronavirus pandemic. The organisations have held initial discussions about allowing companies to bypass pre-emption rights that give existing shareholders first refusal to new share issues, …

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Market volatility puts equity offerings on ice 

Companies have shied away from going public in response to the coronavirus shock, as elevated volatility makes deals difficult to price. Since 2000, less than 10 per cent of initial public offerings above $100m have occurred while the Vix — the Cboe volatility index known as Wall Street’s “fear gauge” …

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Once the fire is doused comes damage assessment

A fire hose at full blast will eventually extinguish the fire. Then comes the task of assessing the damage and evaluating how long the restoration will take. In terms of central bank support and fiscal spending promises, this has been some week. Central banks in India and Canada cut their borrowing …

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Investors Chronicle: Biffa, Ted Baker, Royal Dutch Shell

Buy: Biffa (BIFF) We’re optimistic about the group’s prospects based on the long-term outlook for the UK’s waste management industry with key trends such as plastics recycling and generating energy from waste, writes Nilushi Karunaratne. Biffa foresees significantly reduced demand for its industrial and commercial collection services as many clients …

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Markets Now – Friday 27th March 2020

Today we’re testing positive for MIFID II violations. What follows is little more than a comprehensive bundling of sellside research. We’re defaulting to this approach because it’s another day of flow-driven trading where the on-the-tape news varies between nearly irrelevant and totally irrelevant. If you really need to see what’s …

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Markets Now – Friday 27th March 2020

Today we’re testing positive for MIFID II violations. What follows is little more than a comprehensive bundling of sellside research. We’re defaulting to this approach because it’s another day of flow-driven trading where the on-the-tape news varies between nearly irrelevant and totally irrelevant. If you really need to see what’s …

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Virus turmoil delivers shock to the hedge fund industry

Earlier this year, hedge fund magnate Ray Dalio admitted that he and his team at Bridgewater Associates were “dumb shits” when it came to pandemics. The best they could do was to ride straight through the coronavirus-triggered market turbulence. “It would be a mistake to whipsaw ourselves by overriding our …

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Asia-Pacific stocks rise after record Wall Street run

The rally in global stocks continued after Wall Street notched its best three-day run since the 1930s, despite increasing evidence that the coronavirus is wreaking havoc on the global economy. But investors cautioned that the rebound in markets was unlikely to last even as governments pull out all the stops with …

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