Breaking News

Tag Archives: New York Times

Scooped: What The Nikkei Deal Means For The Derivatives Industry Blog,Commentary

"FT 125th anniversary reception (8741688934)" by Financial Times - FT 125th anniversary reception. Licensed under CC BY 2.0 via Wikimedia Commons - https://commons.wikimedia.org/wiki/File:FT_125th_anniversary_reception_(8741688934).jpg#/media/File:FT_125th_anniversary_reception_(8741688934).jpg

Nikkei got the scoop of the year. It purchased the Financial Times at the 11th hour from FT parent Pearson for £844 million ($1.3 billion). The big surprise was that Hong Kong Exchange and Clearing’s Charles Li, CEO and former journalist, didn’t buy it, a seeming bargain compared to the LME price tag of £1.39 billion. The media world will care much more about this deal than the rest of the globe. The journalist handwringing over Rupert Murdoch’s buyout of the Wall Street Journal in 2007 for $5 billion amounted to nothing substantive. The FT will likely maintain its focus…