London Stock Exchange

The London Stock Exchange has posted a full-year loss of 338 million pounds ($553 million) for the year ending March 31, mainly due to a heavy charge and one-off losses related to the takeover of Borsa Italiana.

It should be noted that in the previous year the bank had made a profit of 168.3 million pounds. Revenues of the bank increased 23 percent and made 671.4 million pounds.

According to the some sources, banker Xavier Rolet who most recently led Lehman Brothers French business intends to replace Clara Furse as chief executive of the LSE (London Stock Exchange). Rolet, 49, is the first leading candidate for the job. He could be confirmed within a month after being presented to the board by a nomination committee.  Before joining Lehman, Rolet worked for Goldman Sachs in equity trading.

Several UK services have announced PartyGaming co-founder Anurag Dikshit to have agreed to plead guilty to one or more charges related to illegal online wagering, and paying US authorities a fine reported as $300 million (£196 million). 

Dikshit owns 27% of PartyGaming, husband and wife DeLeon and Parasol retain 14% of the company each. Dikshit, born in India, is under the risk a jail term of up to two years by entering the US to make the plea agreement. Parasol and DeLeon, are reported not to be seeking to negotiate with the US. 

Since its early days it underwent numerous alterations and improvements, it endured many losses and fought for its positions in the world. The rise of the United States as the world's preeminent economic force saw the New York Stock Exchange outpace the LSE as the world's busiest and richest exchange. Later in the 1960s Japan appeared as an economic power which resulted in that in 1970s and 1980s the Tokyo Stock Exchange took over the number two position.

“As a publicly-listed company at the heart of the most international market in the world, integrity is central to our success and we are proud of the way in which we do business.” In 2005 a prominent US stock exchange NASDAQ started its ambitious plan to acquire the LSE. After 2 years of proactive efforts that came to 31% shareholding in the company NASDAQ finally abandoned its chase.

If you run through different sources on the Web that offer the definition of ‘NASDAQ’ term you will likely encounter such explanation as “National Association of Securities Dealers Automated Quotations”. Yet the official site of NASDAQ itself objects this definition as a term to be relevant only as of 1971.