"In the wake of last week’s announcement of the planned $2.9 billion merger of the Toronto and London Stock Exchanges comes confirmation the operators of the New York and Frankfurt Stock exchanges are joining forces to create the largest exchange operator in the world.
The latest deal was announced Tuesday and no name for the new company – which will have dual headquarters in both Manhattan and Frankfurt – has been floated yet.
Upon completion, the new company will also own exchanges in Paris and Amsterdam as well as other cities – all of which will continue to operate under their existing names.
The operator of the Frankfurt exchange, Deutsche Boerse, will control 60 per cent of the new company’s board of directors. At least one American politician is calling for NYSE to appear first in the new name.
The New York exchange dates back to 1792 -- an institution of capitalism that has lost some of its relevance in the digital age."
Source.
Marx:
"Constant revolutionising of production, uninterrupted disturbance of all social conditions, everlasting uncertainty and agitation distinguish the bourgeois epoch from all earlier ones. All fixed, fast-frozen relations, with their train of ancient and venerable prejudices and opinions, are swept away, all new-formed ones become antiquated before they can ossify. All that is solid melts into air, all that is holy is profaned, and man is at last compelled to face with sober senses his real conditions of life, and his relations with his kind. The need of a constantly expanding market for its products chases the bourgeoisie over the entire surface of the globe. It must nestle everywhere, settle everywhere, establish connexions everywhere."
Crow's Eye: Maintaining a commitment to Pointless Acrimony™ and Hate Filled Invective™! Also available in corvid mischief and traditional sly dog's mistrust.
2 comments:
Oh those Germans, still duplicitous!
Karl was always as good as Groucho in my book.
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