News in brief: Float could treble value of Twitter, Senior shrugs off US shutdown harm, Lloyd’s List website ‘gets a big surge’
Twitter could be worth $29 billion (£18 billion) when it floats on the stock market, or nearly three times as much as previously forecast.
David Jones of City trading firm IG Index said demand had “gone crazy” in the “grey market” — the price at which shares are unofficially valued ahead of a float — from an $11 billion valuation six weeks ago. IG forecast Royal Mail’s float would be undervalued.
Senior shrugs off US shutdown harm
Aerospace parts company Senior, whose clients include American military as well as commercial carriers, has said the recent US government shutdown has not affected its bottom line.
The firm noted there had been a reduction in government spending stemming from the deadlock in Washington but other parts of the business had made up for it.
Lloyd’s List website ‘gets a big surge’
The owner of insurance bible Lloyd’s List today claimed its website has seen a surge in traffic since it announced plans to axe its printed version — the world’s oldest continuously published newspaper.
Parent company Informa’s revenues rose 1.1% in the last nine months as a decline in professional information was offset by growth in events, including the Monaco Yacht Show.
