The recent collapse of the well-known retailer Wilko has led to a significant development as key figures of the former management team are set to face a parliamentary inquiry. The call for questioning comes from MPs belonging to the business and trade committee, who are seeking insights into the decisions that were made while the company was reportedly struggling with substantial debts.

Germany will suspend its constitutional cap on new borrowings for the fourth consecutive year as it rushes in order to deal with fallout following a ruling from the country’s highest court, which has left the spending plans of the nation in chaos. Christian Lindner, the finance minister, announced that the government will present a 2023 […]

Elon Musk has branded the escalating Swedish strike against Tesla as “insane”, as it threatens to disrupt Tesla’s operations across Europe. Last month, about 130 mechanics from Sweden who are members of the IF Metall trade union and work on electric cars went on strike after Tesla refused their request for collective negotiations. Since then, dockworkers and […]

Shell and BP could need US$945 Billion to become net-zero energy major Investors who are proactive – Shell PLC or BP PLC may need to spend US$35billion every year to stay a’major energy company’ until 2050. In order to achieve net zero compliance in 2050, any one of the seven majors would need to increase […]

The US holiday on Thursday offered little direction for Asian shares. The dollar edged down. Futures on Japanese shares were stable, but the gains made in the previous session suggest benchmarks are likely to catch up after a long holiday. Contracts for Australian stocks edged up, while those for Hong Kong share fell after Thursday’s rally. Cash […]

AstraZeneca has contested accusations that the Covid-19 vaccine was “defective”, after a vaccine patient sued for damages, claiming to have suffered a severe side-effect. The Anglo-Swedish pharmaceutical company, which developed the vaccination with the University of Oxford has filed its defense in a lawsuit brought by Jamie Scott. Scott claimed that he had suffered from […]

The German government has suspended indefinitely a vote about the country’s 2024 budget as the crisis in fiscal policy, which is the largest economy in the eurozone, worsens. The three coalition parties representing Olaf Scholz, the Chancellor of Austria, said that a vote to approve the budget for next year had been cancelled on Thursday […]

Chancellor Jeremy Hunt cut personal and business taxes by £20bn as part of his Autumn Statement aimed to boost growth. However, the UK’s Budget Watchdog warned that taxes in general are still increasing at a high post-war level. The independent Office for Budget Responsibility slammed Hunt’s fiscal plans, saying they would only provide a “modest” […]

Kingfisher, the owner of B&Q, has issued its second profit alert in just six months following a drop in sales in France. The DIY retailer has cut its profit expectations for the year again by £30m , now expecting adjusted earnings of £560m. This was a downgrade from September, when Kingfisher had forecast profits adjusted […]

The European Central Bank warned that bank losses in the Eurozone will continue to rise as high rates of interest hit households, businesses and companies. ECB Vice-President Luis de Guindos stated that lenders are beginning to notice “early strains” on their balance sheets. This is due to an increase in defaults and late payments. He said […]

Official data shows that for the first 12 years, more businesses are closing than opening. The number of companies closing their doors increased by 5pc on an annual basis to 345,000 in the last year. This is a record high for “business death rates”. According to the Office for National Statistics, 11.8pc (of all active […]

The Federal Reserve minutes reaffirmed its cautious approach. Traders were focused on Nvidia Corporation after this year’s massive rally in large tech. Shares of the world’s largest chipmaker fell in late trading after its latest projection failed to meet investors’ high expectations. The revenue for the current period is expected to be around 20 billion. Although this was higher than the average analyst’s […]

According to sources with knowledge of this matter, Sam Altman and members of the OpenAI Board, as well as the interim CEO of the company, have begun negotiations in order to reinstate the ousted CEO of the artificial intelligence startup that he cofounded. The people who spoke to us declined to identify themselves because they were not […]

Vauxhall’s owner Stellantis has been in discussions with a Chinese manufacturer of batteries to build an European factory for auto cells, despite warnings from its chief executive about the danger of Beijing dominating the automotive industry. Stellantis and CATL are in talks about a joint venture that will produce cheaper power cells. Carlos Tavares hopes […]

Guy Hands is one of Britain’s most well-known investors. He has admitted that he regrets leaving the UK and becoming a tax exile. However, he warns others to not follow his example , if Labour increases taxes on private equity. The private equity dealmaker who moved to Guernsey to avoid high taxes more than 10 […]

Security experts are concerned about the vulnerability in the public sector IT infrastructure, especially at a moment when state-sponsored foreign hackers are on the increase. The British Library, which is one of the largest document repositories in the world, confirmed to us this week that they had suffered a major outage due to a malware attack. The British […]

In a landmark ruling for the gig-economy, the UK Supreme Court ruled that Deliveroo riders could not be recognized as employees and cannot be represented by unions to engage in collective bargaining. The Independent Workers’ Union of Great Britain, which is the largest app-based couriers’ union in the UK and has tens of thousand Deliveroo members as […]

Northvolt claims to have made a breakthrough with a new battery for energy storage. The Swedish start-up company believes that this could reduce the reliance on China in the green transition. The Swedish group has been backed by Volkswagen BlackRock, and Goldman Sachs. They have developed a Sodium-ion Battery without lithium, cobalt, or nickel – critical metals which […]

Andrew Bailey warned the markets not to underestimate the UK’s persistent inflation, and emphasized that he expects the Bank of England to keep interest rates at high levels for a long time. The BoE Governor told MPs Tuesday that investors are “putting too much weight” on the recent data which showed a sharp drop in […]

The NHS England announced Tuesday that US data analytics company Palantir had won a contract worth £330mn for the development of a new platform to store patient data. NHS England stated that the software called Federated Data Platform would “make it easier for staff to get key information in order to provide better and more […]

France has indicated that it would like to delay the introduction tariffs for electric vehicle sales in the UK and EU. This will remove a major obstacle to the creation of a new agreement over the tax due to be implemented in January. In an interview, Olivier Becht said that France wanted to solve the […]

Alex Chesterman, , the founder of Cazoo, will see his shareholdings in the company nearly wiped out when bondholders seize control of the online car seller. Cazoo bondholders agreed to swap their debt for shares of the company. Existing shareholders will only own 8pc after the transaction. The dilution reduces Mr Chesterman’s current holding from 24pc […]

EY is considering abandoning its London headquarters, the latest sign that office life is deteriorating as more people work from home. After launching an office property review at its More London location near London Bridge, the Big Four accountant has been said to be considering its options. The 10 storey building is located between London […]

In an effort to salvage investments which have failed to perform well on the stock exchanges, private equity firms buy back companies that they recently brought public. In the last few months, firms such as EQT Cinven and Silver Lake either took private or looked at buying back publicly traded companies in which they had […]

The UK boutique chain’s founding directors received a sweet £280mn payout from Mars’ acquisition of Hotel Chocolat last week. The acquisition also filled in a gap in the brand mix of the US-owned confectionery giant. As governments crackdown on unhealthy foods and consumers demand healthier, more sustainable options, big chocolate companies are reorganizing their portfolios. Some […]

The US Department of Justice wants more than $4bn to settle with Binance a criminal probe that has caught the world’s largest cryptocurrency exchange, and its cofounder. A person with knowledge of the deal said that it would end a multi-year investigation by prosecutors, which focused on money laundering, sanctions violations, and bank fraud. The […]

RedBird IMI, backed by Abu Dhabi, has offered to buy the Telegraph and Spectator as part of a deal that will repay the debt owed to Lloyds Banking Group by the Barclay Family. RedBird IMI – the investment group headed by Jeff Zucker, former CNN chief – announced on Monday that it would provide funding […]

Huel’s boss said that he would be open to selling the meal replacement manufacturer, but admitted that the waning initial public offering (IPO) market in the UK has made it less appealing. James McMaster, the chief executive of Huel which offers plant-based drinks, powders and snacks for time-pressed customers, said that he was not in […]

Microsoft has hired Sam Altman to head a new team for advanced artificial intelligence after unsuccessful attempts to restore him as the chief executive of OpenAI. Satya Nadda, the CEO of Microsoft, confirmed the appointment in a Monday statement. After a weekend filled with boardroom dramas, the board of OpenAI, based in San Francisco, has appointed […]

The government has stopped advertising on Twitter, a new blow to Elon Musk as the social network faces an exodus from major brands. In recent months, departments have stopped buying ads on Twitter (now known as X), a social media platform. The decision was made before the company was dragged into a row about anti-Semitism that erupted last […]

After the Winter World Cup in Qatar, injuries to European footballers increased. This led to an annual increase of nearly 30% in the costs to clubs for their players to be sidelined. A report from City of London-based insurance company Howden Group Holdings Ltd. revealed that clubs in Europe’s top five leagues were hit with a […]

Discover how Hummingbird's strategic moves are positioning them as a formidable player in the mining sector, with a multi-asset, multi-jurisdiction presence that sets them apart in the London small cap scene. Betts delves into the market's perception of Hummingbird, addressing the challenges and intense focus on ramping up production to meet financial obligations and strengthen the balance sheet.

Solar power 20 years ago was cellular agriculture, and EV battery 10 years earlier. Moore’s Law has a rapid impact on costs, reducing them from high levels to a level closer to “griddle-parity”. As investors tire of AI’s boom, it is fair to say that “cell-ag”, will be the next Nasdaq darling. No longer is it […]

Slow subscriber growth and high rates of interest push the sector into a new era frugality Netflix’s price increases are not always a good thing. Reed Hastings, the founder of Netflix, increased the price of a monthly subscription by 60% in 2011. This sparked an outcry that nearly destroyed the fledgling streaming services. Price increases are […]

According to economists, Brexit has increased wage growth for UK as predicted by the Leave campaign. Senior City analysts stated that the near-record wage growth was partially driven by a crackdown against uncontrolled immigration from EU. Employers were forced to pay more for roles filled by low-skilled Europeans. Marion Amiot is a senior European Economist at the […]

Heuro has been in discussions to run 15 trips per day between Amsterdam & London A Dutch startup is getting ready to compete with Eurostar in the Channel Tunnel. Heuro hopes to launch its rail service in the next five to ten years. It’s vying for competition with Eurostar and Spanish firm Evolyn. has also revealed plans for […]

The government has stopped advertising on Twitter, a new blow to Elon Musk’s social network. In recent months, departments have stopped buying ads on Twitter (now known as X), a social media platform. The decision was made before the company was dragged into a row about anti-Semitism that erupted last week, which saw advertisers such as Apple and […]

KPMG’s UK partnership is now less than half that of PwC, after the firm has lost its top ranking for the fourth consecutive year due to regulatory fines. The number of equity partner at the Big Four company, who own and share the profits of the business, dropped 7 percent in the year up to […]

Conservative MPs called on the UK government to use its national security laws to investigate attempts by the Barclay Family to regain control of the Telegraph Newspaper Group using Abu Dhabi-funded funding. Five Tory MPs including Edward Leigh, John Hayes and Kemi Bademoht, wrote to Oliver Dowden, the deputy prime minister, to question the use […]

Chief energy adviser of the White House, Mr. Michael A. White, said that he was confident that Arab oil companies would not weaponise their energy despite growing anger in the Middle East due to Israel’s bombardment and siege on Gaza. Amos Hochstein said that collaboration between US and Gulf producers including Saudi Arabia had been […]

Jeremy Hunt said on Sunday that he would put Britain “on a pathway to a lower tax economy” during this week’s autumn statement, which has fueled expectations among Conservative MPs. He is expected to announce tax cuts for individuals and businesses. The chancellor has put off plans to reduce inheritance tax until next. This raises […]

Sam Altman returned to OpenAI’s office on Sunday, as an outpouring of support from staff and investors pushed board members to reinstate their fired chief executive. Altman, who was fired 48 hours earlier by in Silicon Valley for a wrongful termination, posted a photo of himself on X wearing an OpenAI Guest Pass, with the […]

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 […]