The landscape of vaccine technology is witnessing a revolutionary change with the introduction of TNX-1800, a next-generation COVID-19 vaccine developed by Tonix Pharmaceuticals. Led by CEO Dr. Seth Lederman, the company has made significant strides in addressing the limitations of current vaccine strategies. The Innovation of TNX-1800: TNX-1800, selected for testing under the prestigious Project […]

Lawrence Stroll, a Canadian billionaire who is preparing Formula 1 for Las Vegas Grand Prix has sold a minority stake in the Aston Martin to the US private equity company Arctos Partners. According to a source familiar with the transaction, Arctos’ investment, which includes a stake in Boston Red Sox as well as Liverpool Football Club, values F1 at around £1 […]

London Stock Exchange Group Plc announced that it would execute £1 billion ($1.2billion) in buybacks for the next year. The company also increased its guidance, and revealed changes to its report structure. In a announcement accompanying a Thursday investor event, the group stated that it now expects “mid-to-high single digit organic growth annually” over the medium term. This […]

Chancellor Jeremy Hunt is set to unveil a new package of growth reforms at the autumn statement next week. Two people familiar with the plan say that the Pension Protection Fund (Pension Protection Fund) will be given new power to consolidate small retirement schemes. According to the two people who declined to be named, the aim […]

Insiders in the government have confirmed that the Cyprus Police force is investigating an oligarch’s attempt to transfer a £1bn share of a public company, on a day when he was under EU sanctions. The news of the involvement by the Financial Crime Squad came at the same time as the Cypriot Government and the European […]

FTSE 100 CEOs have warned that Jeremy Hunt needs to end the “vicious cycle” of Britain’s stock market decline. Julia Hoggett is the chief executive officer of the London Stock Exchange. She, along with the members of the Capital Markets Industry Taskforce and dozens of other people, have urged the Chancellor, to introduce reforms that […]

A top investment bank warned that the Bank of England’s decision to sell off government bonds costs taxpayers £15bn a yearly and limits Jeremy Hunt’s ability to reduce taxes. Deutsche Bank stated that Threadneedle’s decision to reduce its balance sheet size by actively selling gilts purchased during the pandemic rather than letting the maturities mature […]

In December, rail passengers will face new disruptions after more train drivers have announced further strikes. Aslef announced on Thursday that it would be launching a “rolling program” of strikes between 2 December and 8 December, with different train operators striking on each day. The members have been prohibited from working overtime in the period […]

IBM announced that it had pulled its global advertising campaign from Elon Musk’s X after a report revealed that the social media platform was running the tech company’s ads alongside pro-Nazi materials. This is a new blow to the company’s efforts to regain sales revenue. Media Matters, a left-leaning nonprofit, released a report on Thursday […]

The oil prices fell to their lowest level since early July, forcing the Opec+ major oil producers group to reconsider extending and intensifying production cuts at their meeting in Vienna in 10 days. Brent crude, the oil international benchmark, dropped 4.6 percent on Thursday, one of the largest daily declines in this year. It settled at $77.42 […]

Creators of the new technology say it could revolutionise forecasting. Google Deepmind’s new technology allows 10-day forecasts to produced in less than a minute. Deepmind claims that the technology is able to produce weather forecasts for 10 days with an unprecedented level of accuracy. Forecasts produced by the GraphCast System are not only more precise, but […]

The property company British Land has seen its profits soar as a result of the rising rental rates, and the demand for retail and office space. However, the increasing interest rates have reduced the value of the portfolio by almost £200m. British Land, the owner of sites such as the Broadgate Centre, in the City of […]

Hewlett-Packard and its auditors disputed whether a $5bn (£4bn), write-down in the value of software firm Autonomy, could be attributed to fraud engineered allegedly by tech entrepreneur Mike Lynch. Documents filed with a US Court show that Hewlett-Packard disagreed. Lynch, the billionaire founder who was once described as the UK’s Bill Gates, has been extradited in […]

The scale of the interest rate hikes has not yet been fully felt, so optimism may be short lived. The British economy seems to have escaped a bullet. is not in a recession despite a massive energy price spike last winter, and the painful effects from a series of sharp interest rate increases. The employment […]

After intense lobbying by Silicon Valley, ministers have weakened their powers to impose massive fines on tech giants who abuse monopolies. After amendments to the competition law, tech companies have new grounds for appealing fines up to 10% of their global turnover. The Digital Markets, Competition and Consumer Bill was due to grant new, tough powers to […]

JP Morgan says that Jeremy Hunt can cut taxes by up to £10bn in the Autumn Statement next week, as the outlook of the economy improves while inflation slows down. Allan Monks is an economist with JP Morgan. He said that he expected the Government to borrow about £100bn in this financial year. This is […]

Food industry officials say they are running out of time in order to prepare for the new EU regulations to reduce carbon emissions within supply chains. They accuse Brussels of issuing proposals lacking detail and that will not stop deforestation. The new rules will come into effect at the end 2024. They will force companies to […]

The Dutch government has backed down from plans to reduce flights at Amsterdam Schiphol Airport, after being pressured by airlines, the EU, and the US Government. The U-turn was a blow for one of the highest-profile attempts to limit air travel on environmental grounds. It came after the Dutch Government said that the US had threatened to […]

In an effort to curb the global warming gas, methane, the EU has agreed upon new restrictions for emissions that will affect Europe’s energy industry as well as importers of oil and natural gas. In regulations approved on Wednesday, oil, gas, and coal companies must monitor, detect, and repair methane leakings throughout the EU. These […]

Fuel retailers are required to reveal profit information by next year or risk hefty fines. This is under the new powers granted to the UK Competition Watchdog to combat high fuel prices. The government announced the measures on Wednesday after Shell and Moto, a service station operator, failed to submit their margins voluntarily to the […]

At the COP28 summit, the US will be leading a push to triple installed nuclear power capacities globally by 2050. This is a significant turn-around for this controversial technology in the climate negotiations. According to a document, the declaration will ask that the World Bank as well as other international financial institutions include nuclear energy into their […]

Asda paid off £300m in debts, as its billionaire owners raced to reduce borrowing levels throughout their business empire. The supermarket has cleared a £200m debt it took on to purchase 132 convenience stores from The Co-op in the past year. It also paid back an additional £100m. Asda’s net credit decreased from £4.2bn in […]

Glencore is the latest company that has snubbed the London Stock Exchange. The company confirmed plans to list its coal division in New York after it announced that it would spin off the business. The FTSE 100 miner has announced that it will purchase a majority stake of the steelmaking coal division of Canada’s Teck Resources, […]

Pfizer plans to eliminate 500 jobs from its Kent laboratories as it tries to reduce costs by $3.5bn (£2.8bn), due to the falling demand for Covid drugs. Pfizer announced that it will cease its Pharmaceutical Sciences Small Molecules (PSSM), operations at the facility in Sandwich, Kent. The teams responsible for converting experimental molecules into drugs used for […]

After spiraling costs cast doubt on its viability, the UK’s largest offshore wind developer has been in discussions with Net Zero Secretary Claire Coutinho regarding the fate of their flagship project off of the coast of Norfolk. Orsted, the Danish renewables giant, is believed to be in discussions with the Department for Energy Security and Net Zero […]

Emirates, a Dubai-based airline, has ruled out purchasing Airbus A350-1000 aircraft until Rolls-Royce’s engine durability problems are resolved. Emirates’ President, Sir Tim Clark, stated that the fuel-efficient engines did not meet Dubai’s government-owned airline’s requirements for maintenance. He told reporters on Tuesday at the Dubai Airshow that “we don’t purchase defective aeroplanes”. He added that if […]

Hedge funds have profited from a series well-timed bets on wind energy stocks. Some are betting that the sector will continue to suffer. Marshall Wace, Qube Research & Technologies and other quantitative traders have all made millions in profits this year from the sharp drops in share prices in wind industry stocks like Siemens Energy […]

Leaders of English universities have warned that an increase in employer contributions to pensions next year would result in a drastic cut in student welfare and make it difficult to recruit staff. Teachers in England and Wales are covered by the Teachers’ Pension Scheme, which is 80 universities and colleges. The TPS heads have criticized […]

A Thai investor, Central Group, is poised to acquire the London-based upmarket department store Selfridges. This comes amid a financial crisis for its Austrian coowner Signa. Central Group, which is owned by the Chirathivat Family, announced on Tuesday that it would become the majority owner in Selfridges Group. This group includes De Bijenkorf, Brown Thomas, and Arnotts, […]

Robots have used Mars meteorite to make oxygen out of water. This combines the chemical discoveries made by artificial intelligence with exploration and populating the red planet. The automated experiment increases the likelihood of future manned space missions being sustained, says the paper that was published Monday in Nature Synthesis. The authors estimate that it would take 2,000 years […]

A new study suggests that Artificial Intelligence can help predict whether a person has a Heart Attack 10 years in advance. Scientists stated that the new tool could help prevent thousands of Heart attacks and deaths by the NHS if it is implemented. The University of Oxford study looked at ways of improving the accuracy of CT scans of the heart, which are used […]

Beauty giant forced into rethinking sales strategy as more women work One of the most memorable slogans in advertising of the 21st Century was about this. Soon, the days of Avon’s “ding dong” could be over. For the first time in 137 years, Avon, known for its legions Avon ladies who sell door-to-door across the UK, […]

Ofgem plans to increase green electricity generation near London could transform farmland in southern England into solar farms equivalent to 40,000 football fields. The report suggests that new solar farms in the Home Counties, East Anglia and South would generate 20 gigawatts. This is equivalent to installing up to 60,000,000 industrial solar panels. Onshore Wind Farms with 2-3,000 […]

British Land rejected an alternative tenant who would have replaced Meta in a major London lease, instead opting to try to re-let space at higher rents. This shows the landlord’s confidence in the quality of its offices. British Land reported in September that the Facebook owner had paid £149mn for breaking its lease on a […]

OpenAI, the ChatGPT maker, plans to receive additional financial support from Microsoft. Sam Altman, its chief executive officer and founder of OpenAI is pushing forward with his vision for artificial general intelligence – computer software that is as intelligent as humans. Altman stated in an interview that his company’s relationship with Microsoft CEO Satya Nadella […]

Rishi Sunak shocked Westminster on Monday when he restored David Cameron to his political frontline in the role of foreign secretary. This was part of a dramatic cabinet restructuring that also saw controversial home secretary Suella braverman sacked. James Cleverly was the moderate foreign secretary who replaced Braverman as the Home Office. This shift in […]

Sydell Group, according to sources with knowledge of the situation, is considering selling its NoMad Hotels franchise. They asked not to be named because they were discussing internal issues. The people stated that the negotiations are still ongoing, and it is not certain whether they will lead to a deal. Sydell’s and Hilton’s representatives declined to […]

Rachel Reeves, shadow Chancellor of Labour, said that a Labour government would end the stealthy raids on working household incomes and provide businesses with lasting tax relief for investment. She also pledged to address poor living standards and economic development. She told the media that Labour wants to end the tax threshold freeze, which is […]

A British lawyer created the first investment trust in 1868 to pool small amounts of money and buy bonds from nations ranging from Turkey to Egypt. The closed-end funds that were traded on stock markets are now worth approximately £260 billion (318 billion). The sector grew in the record low interest rate era, and its size […]

Emirates opened the Dubai Airshow by purchasing Boeing aircraft worth £42bn, demonstrating how aviation has recovered after the pandemic of coronavirus, even though Israel’s conflict with Hamas has clouded regional security. Sheikh Ahmed Bin Saeed Al Maktoum announced a deal to purchase 90 Boeing 777s, including 55 of the 777-9 and 35 777-8 variants, and […]

Researchers have developed a miracle material that has broken the record for solar panels electricity generation. Longi, a Chinese solar technology company, has set a new record of 33.9% for a tandem silicon-perovskite solar cell. This is a record that breaks the previous record which was set by King Abdullah University of Science & Technology in Saudi Arabia in May of […]

A cash crunch has hit the main supplier of print to Britain’s high-street banks. The future for the paper bank statement could be at risk. Lloyds is leading a rescue effort led by the finance industry to save Leeds’ Communisis, but this weekend hopes for a salvage agreement were fading. Interpath, a firm that provides […]

Danish jewellery chain Pandora has become more optimistic about the Christmas period, defying the trend among luxury goods companies of slowing sales. Pandora, which sells “accessible luxury”, and is on the lower end among retailers, with its high-street shops and cheaper products for sale, will finish this year in a “growth position,” according to Alexander […]

Wolfgang Schubert Raab remembers the boom years when his company could not build enough homes. Raab Construction’s managing director said that in 2021 before the company had even poured a single cubic metre of cement, they’d received offers for more than half of the building. Schubert-Raab says that the single-family housing market is “completely collapsing” two […]

Accounting bodies warned that most of the UK’s plans for overhauling the supervision of anti money laundering rules would be counterproductive and harmful to the fight against dirty cash. A group of 13 accounting organizations wrote to Lords Treasury Minister Baroness Joanna Penn in a letter saying that the majority models proposed by the government […]

Investors are shaking the venture capital industry by raising money for start-ups who have been rejected by venture capitalists. They take advantage of economic downturns to purchase promising companies at a discounted price. VCs have taken minority stakes in businesses that had growth potential, even if there was no immediate path to profitability. The steep rise […]

Alstom’s acquisition of Canadian rival Bombardier’s train operations in 2021 was hailed as an “unique” moment that would make the French company a winner out of a new golden era dawning for the global rail industry. The €5.5bn deal was a good strategic move, but it has since been overshadowed. One of the latest setbacks […]

Francis deSouza, chief executive officer of Illumina and its gene sequencing company, did his best to remain positive on his last earnings call. The $8bn acquisition of Grail, a cancer screening company, sparked a Carl Icahn campaign, fought with competition authorities both on the Atlantic and in Europe, as well as criticism by Grail’s founder directors. […]

Iceland declared a State of Emergency after earthquakes raised concerns that a volcanic explosion would damage residential areas for the first 50 years. Iceland evacuated 4,000 residents from Grindavik, a town in the south-west after a 15km underground magma tube was discovered close to the Fagradalsfjall volcanic cone. This increased the likelihood of a possible […]

AstraZeneca will enter the race to develop a weight-loss pill. It is working on a new class of drugs, which it hopes to use in developing nations to combat obesity. The Anglo-Swedish pharmaceutical company announced on Thursday a licensing deal with China’s Eccogene to produce an oral medicine that belongs to the same drug class […]

Shell has sued Greenpeace in the amount of £1.7m for a group protesters who occupied a vessel of the oil giant in the North Sea this year. Shell’s CEO Wael Sajan has launched proceedings to shift the company away from green energy, and increase fossil fuel production. Shell’s new focus has already attracted criticism from both employees […]

S4 Capital, owned by Sir Martin Sorrell, has seen its sales fall 15pc as the slowdown in advertising intensified. Digital ad agency reported that revenues for the third quarter dropped to £211.5m, as clients cut back on spending. The London listed company warned that full-year profits would be between 10pc to 11pc, down from the previous forecast […]

AstraZeneca will enter the race to develop a weight-loss pill. It is working on a new class of drugs, which it hopes to use in developing nations to combat obesity. The Anglo-Swedish pharmaceutical company announced on Thursday a licensing deal with China’s Eccogene to produce an oral medicine that belongs to the same drug class […]

After a cargo vessel carrying iron ore to steel giant ArcelorMittal, which was damaged by a Russian missile near Odesa, Ukraine sought to assure shipowners that its Black Sea trade corridor is viable. It is the first civilian vessel to be hit this way since the beginning of Russia’s full invasion of Ukraine in 2014. […]

Inflexion, a UK private equity company, has agreed to sell US investment firm Abry Partners the legal rankings provider Chambers and Partners. This is the latest deal to be made in a sector that attracts heightened investor interest. According to a source familiar with the transaction, Inflexion will receive more than £400mn for Chambers, which […]

According to four people who are familiar with the situation and leaked documents, Nvidia developed three new chips specifically for China to meet the growing demand in the region for artificial intelligence technologies while still complying with US Export Controls. This is the second time, in less than a calendar year, that Silicon Valley’s Nvidia […]

Market participants reported on Thursday that a ransomware attack against the Financial Services arm of China’s largest bank, the Industrial and Commercial Bank of China, has caused the US Treasury Market to be disrupted by forcing customers of the Industrial and Commercial Bank of China (ICBC) to reroute their trades. The Securities Industry and Financial […]

Walt Disney Co. stocks jumped after it reported a higher-than-expected net profit and pledged to cut another $2 billion in expenses. Disney announced on Wednesday that the fiscal fourth-quarter earnings increased to 82 cents per share, excluding certain items. This was higher than analysts’ projection of 69 cents. Revenue was in line with analyst expectations. Bob Iger, Chief […]

Apple’s tax dispute with Brussels over €14.3bn has suffered a setback after an advisor to the EU top court suggested that an earlier ruling on its business in Ireland be rescinded. Giovanni Pitruzzella said that the landmark ruling which ruled against the EU order to Apple to pay back taxes of €14.3bn to Ireland should […]

Britain doubles down on its efforts to unlock a ‘grid ready’ reactor by 2020 After being rejected by a rival EU program due to Brexit, the UK signed an agreement with US to collaborate in nuclear fusion. Andrew Bowie (Britania’s Minister for Nuclear and Networks) announced the partnership in Washington. The two countries will fund research, […]

Airbus’ head has criticized the German government for its ban on the export of new Eurofighter aircraft from Saudi Arabia. He warns that this is damaging to the reputation of the country as an exporter. Guillaume Faury is the chief executive officer of the pan-European Aerospace and Defence group. He said Berlin’s position was “damaging to the […]

Walt Disney reported stronger-than-expected earnings for its most recent quarter and forecast that it would cut another $2bn from its costs while generating higher levels of cash in the coming year. Results come nearly a year after Bob Iger, his hand-picked successor Bob Chapek, returned to Disney to become chief executive. Iger stated that the results reflected […]

Vishay Intertechnology, a US-based chip company, has agreed to purchase Newport Wafer Fab from Chinese-owned Nexperia for $177mn. This agreement puts an end to years of uncertainty regarding the fate of the UK’s largest chip manufacturer. After months of wrangling, the UK government decided to block the sale to Nexperia owned by China Wingtech Technology on national […]

The shares of UK chip designer Arm dropped after its revenue projection for the current quarter disappointed Wall Street in its first earnings release since it went public in September. Arm forecast revenue between $720mn and $800mn for this quarter, which was below analyst expectations. It expects to generate between $2.96bn and $3.08bn of revenue for the […]

After the UK Supreme Court refused to allow him to stop it from being heard in England, Danish authorities were allowed to pursue a tax fraud case worth £1.4bn against financial institutions and Sanjay Shah’s hedge fund at London’s High Court. On Wednesday, the country’s top court ruled that the case against alleged tax fraud […]

According to the cofounder of Europe’s biggest hedge fund, the rise of multimanager hedge funds led to a “merry go round” of portfolio manager being offered “silly amounts of money”. Sir Paul Marshall, the co-founder and CEO of Marshall Wace told a Hong Kong investment conference on Wednesday that the multi-manager platforms were reshaping the […]

The UK tax authority warned it would face additional costs in this year due to 1.2mn people being added to the tax net as a result of higher income and savings rates. Jim Harra told Members of Parliament that HMRC was prepared to handle the growing demand for tax services from taxpayers. This came after fears that […]

The UK’s leading Rolex dealer expects a surge in the sale of second-hand luxury timepieces as inflation squeezes wealthy consumers’ spending. Watches of Switzerland, a retailer of upmarket watches, said Tuesday that used timepieces will make up a large part of its sales in the next five year after pre-owned watch sales rose by 80pc […]

Rishi Sunak’s plan to boost the energy security of Britain by granting new North Sea licenses each year is being questioned by those who claim Britain won’t be able to handle crude oil. Campaigners warn that by 2035 up to half the oil produced from the North Sea won’t be compatible with UK refineries. The refineries in […]

The Glazer family is in talks with British chemicals magnate Sir Jim Ratcliffe about potential investments. A top shareholder of Manchester United said that he had no idea what the future held for the Premier League football team. Nick Train described the negotiations over a possible deal as “extraordinarily complex and long”. This is almost […]

According to data from the sector, UK grocery inflation is now at single digits after 16 months of steep increases. This will give households hope that food prices can normalise in the months to come. Research company Kantar reported on Tuesday that the annual rate of price increases at supermarkets in the four-week period ending […]

The first dollar bond deal since April raised $2.5bn by Turkey, as its new economic policies have attracted investors who had abandoned Turkish assets. According to a termsheet, the country received bids of more than $7bn on Tuesday for a five-year dollar sukuk. A sukuk is a debt instrument that conforms with Islamic religious laws. […]

China, the world’s biggest producer of methane (a powerful global warming gas), has played an “opening move” before the UN Climate Summit by promising to track and reduce harmful emission from the gas. In a Tuesday statement, China announced that it would take “more forceful” measures to combat methane with just three weeks until policymakers […]

The oil prices fell to their lowest level in over three months on Monday, with hedge funds betting the conflict won’t draw in oil-rich countries in the region. Brent crude, which is the international benchmark for oil, fell 4.2 percent to $81.61 per barrel. This was a drop from levels last seen at the end […]

UK gilts rose sharply on Monday as traders took advantage of comments made by a senior Bank of England official who suggested that the Bank may be prepared to consider lowering interest rates in mid-next year. After Huw Pill said that market expectations of cuts starting next summer are not unreasonable, the yield on the […]

In the wake of Russia’s invasion of Ukraine, Britain and Poland have agreed to a £4bn (£3bn) air defence contract, which is the largest export contract ever between the two nations. The UK will provide Polish forces with an air defence system that can counter threats like cruise missiles or fighter jets from a distance […]

According to the owner, food inflation could be gone by Easter if there are no more shocks to global system. George Weston, chief executive officer of Associated British Foods, which owns Primark, a budget clothing chain, stated: “Food prices inflation reached 20% last year, and I think by the end of 2024, it will be near […]

Ryanair’s profits reached a record high in the spring and summer due to a combination of soaring fares, and additional charges. Dublin-based airline, Ryanair, has begun paying dividends in anticipation of the possibility of Europe’s largest airline reporting a full-year profit more than a quarter above previous records. The company also expects to grow for […]

Since the Russian invasion of Ukraine in 2014, more than 100 UK companies admitted to violating sanctions against Russia. As of May 17, the Office of Financial Sanctions Implementation, or OFSI, recorded that 127 companies had reported sanctions violations voluntarily. The UK government has added hundreds of people and organizations linked to Russia to the […]

It has been reported that the Information Commissioner’s Office has dropped its investigation into a Hack affecting millions EasyJet customers, because it believes “limited resources” would be better spent elsewhere. Hackers stole nine million details of people in the 2020 attack . EasyJet called GCHQ’s National Cyber Security Centre for help. The ICO, the data watchdog, […]

British Gas’s owner Centrica has backed plans to build a 12-mile barrier that will prevent tidal flooding in The Wash, despite the backlash of green campaigners. The £3bn barrier would run from Skegness, Lincolnshire, to Hunstanton, north Norfolk. Developers believe that it could generate enough renewable energy to power up to 600,000. It will also […]

Grant Shapps warned Aviva to avoid any “immoral withdrawal” of support for defence companies after a letter sent by the company to investors caused a backlash. Aviva, which manages £221bn in assets, including insurance and pension funds told its customers last week that it would be selling “certain companies” who did not meet the Aviva […]

Klarna has reported its first profit quarter in four years, as it prepares to list on the stock exchange. The fintech company in Sweden made a net income of 90mn (€8mn ) during the third quarter. This compares to a loss of just 2.1bn one year ago. Revenues increased by 30%, reaching 6bn. It nearly halved […]

According to a European Central Bank study, geopolitical tensions have prompted more multinational companies signaling plans to move production to countries that are closer to their final market. The ECB discovered that almost four times more European multinationals have said they will shift production to countries with friendly political systems — a phenomenon called “friend-shoring,” […]

British Steel plans to close two blast furnaces on its flagship site in Lincolnshire within the next three-years and replace them with a less carbon intensive steelmaking technology. This could put up to 2,000 job opportunities at risk. The second largest steelmaker in Britain, owned by China’s Jingye, announced that it would invest £1.25bn into […]

OpenAI has launched custom versions of ChatGPT, which can be tailored and adapted for specific applications. This transforms the chatbot interface to a digital platform similar to iOS or Android. The GPTs are tools that can be created in plain English to help with tasks such as tutoring children in maths, designing a website, or […]

Revolut has begun talks with Canary Wharf to relocate its headquarters. This would be a significant vote of confidence in the London business district, which is currently facing higher vacancy rates as well as the loss of HSBC, one of its most important tenants. Fintech firm is in talks to lease 113,000 sq ft at […]

A financial crisis that has engulfed Signa Group, Rene Benko’s property empire in Austria, has cast doubt on the future ownership of Selfridges. Signa shareholders, who bought Selfridges last year in a £4-billion deal with Central Group of Thailand, ousted Benko from his position as chairman, as cash crunch threatens Benko’s €23-billion empire (£20-billion). The […]

Jumbo scallops are a favorite ingredient in classic sushi plates. They come from the northern Japanese town of Betsukai on the island Hokkaido. The Japanese government has been urging the public to eat at least five bivalves a day for the last month to reduce the stocks that have built up since Beijing banned the […]

The Danish climate minister said that EU farmers must pay for their greenhouse gases emissions. This comes as Brussels struggles with reining in a sector which is projected to be the biggest polluter of the EU by 2040. Lars Aagaard stated in an interview that farmers who produce the least amount of carbon per tonne […]

Amazon, Microsoft, and Alphabet, the parent company of Google, are all expected to increase capital expenditure as they build up their capacity to support the growth in generative artificial intelligent. Over the last few years, the Big Tech groups that together dominate the global market for cloud computing have increased their investment in the infrastructure […]

Elon Musk’s artificial intelligence startup xAI released its first AI Model. The tech billionaire is looking to take on OpenAI with a sassy, chatbot that’s tightly integrated with X formerly Twitter. Musk said Grok has “real-time access” to the information on X, the social network platform Musk purchased for $44bn a few years ago. He […]

Wael Sawan, the chief executive of Shell, plans to make the company “leaner”, and more selective in its investments in energy transition. He defended the shift in focus which has caused several senior executives in the green divisions to leave in the last six months. Since taking the top job at the company in January, […]

Ken Griffin, founder and CEO of the $62bn US hedge funds Citadel, warned regulators to focus on banks instead of his industry, if they wanted to reduce the risks in the financial systems stemming from leveraged wagers on US Government debt. The global regulators have warned of the growing risks associated with the so-called Treasury Basis […]

Berkshire Hathaway’s cash pile soared to a new record of $157bn during a quarter when chief executive Warren Buffett sold stakes in publically traded companies as the Oracle of Omaha struggled to find appealing investments. According to the results announced on Saturday, Berkshire sold US and foreign stock worth more than $5 billion in the […]

Sam Bankman-Freed, the founder of FTX, has been found guilty in a fraud trial. This has significant implications for the broader cryptocurrency industry. Bankman-Freed now faces potential decades in prison as a result of his conviction. The sentencing process will take into account factors such as the amount of loss involved and his leadership role within the organization.

Amazon made more than $1bn extra profit using a secret pricing algorithm, US antitrust regulators claim in a lawsuit accusing Amazon of abusing its monopoly to harm both consumers and sellers. On Thursday, previously redacted portions from the Federal Trade Commission Complaint that was filed in September revealed new details. These included how Amazon used an algorithm […]

Shell announced a larger than expected $3.5billion share buyback, even though the oil and gas company’s quarterly profit fell by a quarter to $6.2billion due to lower prices. Wael Sawan is the chief executive officer of FTSE 100 Energy Group. He said that it will not follow its US competitors in making large acquisitions, but […]

Lloyds Banking Group Plc turned down the Barclay Family’s latest bid to reclaim The Telegraph, in order to reassure bidders for an ongoing auction. According to a source familiar with the situation, the lender turned down a £1billion ($1.2billion) offer from a Middle East investor. The bank told the family that they could either bid at […]

As high interest rates squeeze finances, many British mortgage holders miss payments and have their debit cards refused. The number of mortgages that are in arrears on the UK residential portfolios of Pepper Advantage Technologies Ltd., a loan-servicing company to banks, increased by 23% from July to September compared with a year ago. This is the […]