Barclays reached an agreement to remain in its Canary Wharf HQ until at least 2039. This is a major boost for London’s Docklands Financial Centre after other high profile tenants chose to move elsewhere. The bank has extended its lease for its 32-storey One Churchill Place tower, where it has been based since 2005, by […]

The post Barclays signs deal to stay in London’s Canary Wharf till 2039 appeared first on Stockmark.IT.

Allen & Overy, a magic circle law firm, has developed a tool for artificial intelligence-based contract negotiations. This technology threatens to disrupt traditional legal practices. The UK-based group, in partnership Microsoft and legal AI startup Harvey, developed the service that draws on existing templates of contracts, such non-disclosure agreement and merger and purchase terms, to […]

The post Allen & Overy launches AI-based contract negotiation tool to challenge the legal industry appeared first on Stockmark.IT.

After losing a major legal battle before the Court of Appeal, partners at billionaire Michael Platt’s investment firm BlueCrest Capital will be liable for income taxes on a pay system dating back to 2008. The court in London ruled that the plan of the UK-based group to retain employees through so-called “special capital” should be […]

The post BlueCrest loses its appeal regarding tax on partner’s pay appeared first on Stockmark.IT.

Harbour Energy, listed in the UK, has signed a $11.2bn agreement to purchase Wintershall Dea’s oil and natural gas assets. The deal was backed by German investment firm LetterOne and Russian oligarchs Mikhail Fridman Petr Aven. Harbour Energy had a value in the market of just under $2bn prior to the announcement. It would now […]

The post Harbour Energy, UK, agrees to $11.2bn for Wintershall Dea’s assets appeared first on Stockmark.IT.

BlackRock’s push to diversify into alternative investments has led it to talk with Warburg Pincus. The world’s biggest money manager is looking for a deal that will transform the $27tn industry of private funds. Five people who were briefed about the talks say that BlackRock and Warburg Pincus began discussing a strategic partnership almost two […]

The post BlackRock’s ambitions in private equity revealed by failed Warburg Pincus negotiations appeared first on Stockmark.IT.

US-led coalition of military forces and shipowners is racing to improve security along a major artery for global trade in the Middle East. More than 100 ships are diverting around Africa in order to avoid Iranian-backed militia attacks. According to three sources familiar with the issue, Operation Prosperity Guardian is a reinforced naval task force […]

The post As ship diversions increase, a US-led alliance will create a safe corridor in the Red Sea. appeared first on Stockmark.IT.

Jeremy Hunt, UK chancellor, will sign a financial service deal with Switzerland on Thursday. He claims that it will facilitate business between wealthy individuals and financial firms in both markets. The UK-Swiss agreement is based on mutual recognition of regulatory regimes. It is designed to strengthen the City of London after Brexit. Hunt will claim […]

The post UK signs financial services agreement with Switzerland after Brexit appeared first on Stockmark.IT.

After a slump following the pandemic, console sales have recovered this year thanks to the resurgence of Sony’s PlayStation and its strong lineup of blockbuster titles. Sony announced on Wednesday that it has sold 50mn PlayStation 5s, almost as fast as its previous generation. The company overcame long-standing supply issues to outsell Microsoft Xbox by […]

The post PlayStation sales and blockbuster titles propel console market to growth appeared first on Stockmark.IT.

UK inflation slowed sharply in November to 3.9 per cent, triggering a slide in the pound, a stock market rally and increased expectations of an interest-rate cut early next year. Wednesday’s number was well below the 4.4 per cent year-on-year increase in consumer prices predicted by economists in a Reuters poll, as inflation was tugged […]

The post Inflation in the UK falls to 3.9% by November appeared first on Stockmark.IT.

The UK and US tighten rules on the shipping of Russian crude oil to make it more difficult for Moscow to avoid the so-called “price cap”, a policy designed to squeeze the Kremlin’s revenue. According to rules published Wednesday, companies involved in shipping Russian crude must prepare new documentation to prove that each voyage has […]

The post US and UK enforce Russian oil price cap appeared first on Stockmark.IT.

As part of an agreement to gradually overhaul the budget framework of the EU, EU finance ministers have given in to German demands for strict debt-reduction regulations. After months of haggling the package grants EU member states more independence in negotiating debt and deficit plans, but only if they adhere to strict spending limits set […]

The post EU Ministers Agree on Tough Debt Reduction Rules appeared first on Stockmark.IT.

On Tuesday, Arm’s chief executive and owner met with Jeremy Hunt at Downing Street. At the same time, regulators announced reforms that could encourage Arm to have a secondary listing in London. On Tuesday, Rene Haas and Masayoshi son, the heads of SoftBank’s majority shareholder, Cambridge Microchip, were spotted leaving Number 11. The Financial Conduct […]

The post Softbank and Arm Chiefs Meet Hunt as City Reforms Open Door to Secondary Listing in London appeared first on Stockmark.IT.

After ministers in Edinburgh tried to cut back on public services while funding a council tax freeze, they decided to tax higher earners in Scotland. Shona Robertson, Scotland’s Finance Secretary, announced that a new, “advanced”, 45p tax bracket would be introduced to all those who earn above £75,000 and the top income tax rate for […]

The post In Scotland, higher earners will be charged a higher tax rate to protect public services appeared first on Stockmark.IT.

After Denmark reversed decades-old foreign policy and became the last country in the region in which to sign an agreement on defence cooperation with Washington, the US will now be able base troops and equipment in Denmark permanently. The full-scale Russian invasion of Ukraine in 2014 prompted Sweden, Finland, and Denmark to all sign similar […]

The post Denmark joins Sweden and Finland to sign US Defence Deal appeared first on Stockmark.IT.

Blue Whale Capital, a fund group founded by billionaire Peter Hargreaves and co-founded with him, reported a decline in revenue as well as profit after the sharp sell-off of tech stocks in the last year. The Blue Whale Growth Fund strategy invests in US technology businesses, fast-growing companies and other high-growth companies. The fund’s performance […]

The post Peter Hargreaves Blue Whale’s profits drop on tech bets appeared first on Stockmark.IT.

The UK government announced a final £3.3bn offer to Northern Ireland on February 2nd and informed the largest unionist party, “Now is the time to decide” on the return to Stormont executive. The package of emergency financing was nearly a third more than the original £2.5bn that was presented last week. This was rejected as […]

The post UK offers ‘final’ £3.3bn in emergency funding to Northern Ireland appeared first on Stockmark.IT.

Signa Holding has entered into negotiations to sell the half of New York’s Chrysler Building in order to raise urgent cash, according to the administrator of Signa Holding, a collapsed European real estate company. He warned that a long and painful financial wind-down was ahead. The creditors of the Austrian firm, founded by the young, […]

The post Signa sells Chrysler Building in desperate effort to raise money appeared first on Stockmark.IT.

On Tuesday, container shipowners abandoned one of the busiest trade routes in the world. Many of the largest cargo ships diverted to avoid the Red Sea due to the increasing attacks by Iranian-backed rebels. AP Moller Maersk, the second largest container shipping company in the world, has become the latest to reroute their vessels around […]

The post Container ships abandon the Red Sea as allies scramble for defense appeared first on Stockmark.IT.

The British Museum signed a sponsorship deal worth £50mn with BP despite the vocal opposition of environmental activists. The agreement announced Tuesday is expected to help fund an estimated £1bn in modernisation for one of Britain’s most popular cultural institutes over the next decade. It also extends the partnership that began with the oil group […]

The post British Museum signs sponsorship agreement with BP for £50mn appeared first on Stockmark.IT.

One of the largest active bond fund managers in the world has warned that there is a high risk for a severe economic downturn to occur next year. Daniel Ivascyn said that Pimco’s chief investment officer, Daniel Ivascyn has placed larger bets than usual on UK Government Bonds in comparison to US government bonds, anticipating […]

The post Bond fund giant Pimco has warned of a ‘hard landing” for the UK economy appeared first on Stockmark.IT.

After EU regulators determined that three of the largest pornography websites in the world fell under the scope of an important law designed to police online content, they will now be subjected to new regulations including more stringent requirements for age verification. Three people with knowledge of the decision say that Xvideos Pornhub, and Stripchat […]

The post New EU law to police content online catches leading porn sites appeared first on Stockmark.IT.

Octopus Energy raised $800m from its shareholders, valuing the company at almost $8bn. This comes just weeks after Octopus Energy became Britain’s largest power supplier. Existing investors such as Tokyo Gas of Japan and Al Gore’s Generation Investment Management have invested extra money in the utility company, whose value has risen by 60% since the […]

The post Octopus Energy raises $800m to create green jobs in the UK appeared first on Stockmark.IT.

Transport for London warned Monday of a funding shortage after only receiving half the grant they had requested from the central government in order to keep the capital’s transport network operating next year. The £250mn bailout is the latest in the series of bailouts provided by the UK Government to help TfL recover after the […]

The post London’s Transport Authority warns of a funding shortfall despite securing £250mn appeared first on Stockmark.IT.

BP is the first major oil company to halt all shipments via the Red Sea. The company mentioned a worsening situation because of the increasing attacks by Yemeni rebels on ships using a route that manages about 10% of worldwide trade. Brent crude, which is the benchmark for international oil prices, rose by 1.8% to […]

The post BP halts oil shipments across the Red Sea following rebel attacks appeared first on Stockmark.IT.

According to a senior official, the Bank of England will have to wait until it is more certain that the UK labour market has stabilized before it can confidently conclude that inflation is falling and lower interest rates. Ben Broadbent said that the inconsistent and volatile data made it difficult to determine how quickly wages […]

The post Bank of England is waiting for clarity on wage growth to reduce interest rates, according to deputy governor appeared first on Stockmark.IT.

As borrowing costs increase and governments remove pandemic-era support measures for businesses worth trillions, corporate bankruptcies in advanced economies are rising at double-digit rate. Following a decade of decline the number of US bankruptcy rates in Germany, the EU’s largest economy, rose by 25 percent from January to Septembre compared to the same period last […]

The post High rates of bankruptcy and the end of Covid assistance hit businesses hard appeared first on Stockmark.IT.

BlackRock was sued on Monday by the US state Tennessee. The lawsuit accused the $9.1 trillion New York-based asset management firm of violating consumer laws by ignoring environmental, social, and governance factors when developing its investment strategy. The suit filed by Tennessee Attorney-General Jonathan Skrmetti in state court alleged that BlackRock was inconsistent in its […]

The post BlackRock sued by Tennessee for ESG strategies appeared first on Stockmark.IT.

Nippon Steel agreed to purchase US Steel for $14.9bn, its largest acquisition ever. The Japanese group is targeting the American market through this deal. The fourth-largest steelmaker in the world by production announced on Monday it would offer $55 per share for Pittsburgh-based US Steel. US Steel shares surged 26.1% to close at 49.59 dollars. […]

The post Nippon Steel to Buy US Steel for $14.9bn appeared first on Stockmark.IT.

Adobe abandoned its $20bn proposed acquisition of Figma’s product design software, claiming that there was no “clear path” to obtain necessary regulatory approvals from UK and EU watchdogs. The deal was investigated by both UK and EU competition authorities due to fears that it would suppress competition and innovation on the markets for product design, […]

The post Adobe and Figma abandon merger proposal of $20bn appeared first on Stockmark.IT.

The Pentagon convinced over seven allies in the Red Sea to join a stronger naval task force due to more attacks on commercial ships by Iran-backed militants, resulting in higher oil prices. Lloyd Austin, US Defence Secretary, announced Operation Prosperity Guardian just hours after UK supermajor BP announced it would stop all shipments through the […]

The post As attacks on Red Sea shipping increase, the US has expanded its naval task force to provide protection. appeared first on Stockmark.IT.

Apple will cease selling smartwatches in its own US stores by Christmas, after losing a case of patent infringement. This is a major blow to the company during the holiday season. Sales of Apple Watch Series 9 and Ultra 2 will be stopped in the US on December 21 online and after December 24 in […]

The post Apple stops US Watch sales before Christmas following patent loss appeared first on Stockmark.IT.

Vice chancellors nationwide have long warned of a growing financial crisis in universities.The dire warnings have now become reality. Coventry University will reduce funding by £95m over the next two years due to an £85m budget shortfall. The University of Sheffield Hallam has invited 1,700 members of its academic staff to apply for voluntary dismissal. […]

The post The university financial ticking bomb appeared first on Stockmark.IT.

Rolls-Royce has begun talks with Ukraine’s largest private power company about building a series of mini-nuclear power plants. DTEK, a part of Rinat Akhmetov’s industrial group and a billionaire businessman, has had early discussions with Rolls regarding developing Small Modular Reactors at sites that are currently operated by coal-fired power stations. Maxim Timchenko said that […]

The post Rolls-Royce is in talks with Ukraine to build mini-nukes appeared first on Stockmark.IT.

Lloyd’s of London and its landlord Ping An have agreed to remain at their One Lime St headquarters until 2035 at least, as a sign of commitment to the in-person trading in the City’s Insurance District. The Friday deal gives Lloyd’s – an insurance marketplace for brokers to get coverage from individual syndicates on a […]

The post Lloyd’s of London will remain in the landmark building at least until 2035 appeared first on Stockmark.IT.

The UK’s top regulator of financial services has ruled out extending its temporary post Brexit licensing regime past the end of the year. It also pledged to finish work on 116 cases that are still outstanding within the next two weeks. The Financial Conduct Authority (FCA) announced in 2018 the “temporary permits regime”, which offered […]

The post UK FCA rejects extension of post Brexit licensing regime appeared first on Stockmark.IT.

The post-Brexit farm subsidy scheme is not better than the previous EU model and big landowners still receive unfair advantages. Minette Batters, the NFU president who will step down in February, has criticized the post- EU Brexit agriculture policy. This policy is overseen by seven different environmental secretaries, since the UK left the EU in […]

The post Farmers’ leader criticises post-Brexit agriculture policy appeared first on Stockmark.IT.

Ryanair CEO Michael O’Leary will receive a €100mn Bonus due to the low-cost carrier’s shares reaching a new record. The shares rose to €18.99, which brings their gains for the past year to over 50%. This highlights Ryanair as the most valuable airline of Europe. According to a bonus plan agreed upon in 2019, O’Leary […]

The post Ryanair boss Michael O’Leary is on track for a £100mn bonus appeared first on Stockmark.IT.

The recent rally on global bond markets has dispelled investors’ long-held belief that interest rates will continue to rise in the US, and other countries. For the first time in August, the benchmark yield on the 10-year US Treasury, which is used as a proxy to represent borrowing costs throughout the world, dropped below 4 […]

The post Investors abandon notion that interest rates would remain ‘higher’ for longer appeared first on Stockmark.IT.

The UK has approved its first spaceport for vertical launch rockets in the northernmost part of the Shetland islands. The Civil Aviation Authority (CAA) has granted a licence to SaxaVord Spaceport, located on the small island Unst. This will allow its first launch in 2024. The regulator confirmed that the privately-owned spaceport met all safety […]

The post Shetland’s SaxaVord Spaceport awarded licence for UK’s first vertical rocket launch appeared first on Stockmark.IT.

Deal complaints are on the rise due to rising interest rates and cost of living. Complaints about auto finance deals have doubled in the past year due to drivers having difficulty paying their monthly bills. Abby Thomas, the chief ombudsman for financial disputes, said that she was “increasingly receiving complaints from people who are worried […]

The post The car finance bubble bursts when drivers are unable to pay their payments appeared first on Stockmark.IT.

Campaigners warn that stricter rules are required to ensure that imported “used” palm oil is not virgin palm oil. Airlines hope that this oil will help them power cleaner flights. Despite increasing demand in aviation, about 80% of the waste oil imported is used to produce biofuels. Around 60% of these imports are from China. […]

The post Palm oil fraud calls for stricter import rules on biofuels appeared first on Stockmark.IT.

A plan to use hydrogen to heat homes in a village in North-East England has been canceled after months of opposition. Insufficient hydrogen production in the area will prevent the government from implementing the “hydrogen villages” in Redcar, which was expected to begin in 2025. The decision ends months of protests against the scheme. Locals […]

The post Redcar’s ‘Hydrogen Village’ project abandoned following local opposition appeared first on Stockmark.IT.

Net zero would shrink Britain’s economy by £60bn and cause the global economy to be $3.6 trillion (£2.8 trillion) smaller, according to the Organisation for Economic Cooperation and Development. Eliminating coal and reducing reliance on oil and gas will slightly decrease global GDP growth in the next few years, according to economists from the Paris-based […]

The post OECD warns that Net Zero will cost the global economy trillions. appeared first on Stockmark.IT.

Demand for home espresso machines has increased due to the rising cost of coffee taken away. Alex Baldock said that shoppers are increasingly making their own coffee at home due to higher prices in chains. He said: “Many customers say that the £3.75 flat-whiteis not something they are up for this year. “They want to […]

The post Coffee machine sales surge as prices of takeaway latte rise appeared first on Stockmark.IT.

Opec+ controls only half of the global oil production, as demand growth has slowed “dramatically” and US output is at new highs. According to the International Energy Agency, recent production cuts made to support the oil price have reduced Opec+’s market share to only 51 percent — the lowest level since the expanded cartel formed […]

The post IEA: Opec+ controls only half the oil market. appeared first on Stockmark.IT.

Campari will buy Courvoisier Cognac, a US-Japanese spirit group Beam Suntory. The deal is valued at $1.32bn. Global sales of this drink are stuttering. The deal will be the largest acquisition for the Italian spirits group. Leading cognac producers reported a decline in sales due to a slowdown in consumer demand. Courvoisier, owned by LVMH, […]

The post Beam Suntory sells Courvoisier Cognac to Campari appeared first on Stockmark.IT.

Carbon prices dropped to their lowest level in 14 months because traders were not convinced by the COP28 Summit agreement for meaningful climate action from governments. The carbon futures market in London, which follows the EU’s emissions trading scheme, briefly dropped 4% to €66 per tonne. The drop, from €71 to €71, was the largest […]

The post Carbon price falls as investors worry about ‘weak impact’ of COP28 agreement appeared first on Stockmark.IT.

EU leaders agreed to start talks with Ukraine for its accession after Hungary’s Prime Minister changed his mind about opposing this important step for the country. This decision is a significant milestone in Kyiv’s path towards joining the EU once the war with Russia has ended. It also represents an endorsement of the western direction […]

The post EU leaders agree to begin accession talks with Ukraine appeared first on Stockmark.IT.

Workspace Group, a corporate landlord, has made an agreement with Europe’s largest renewable energy generator to provide solar power for their offices in London. Workspace, a flexible office provider, has agreed directly to purchase power from a new solar farm in Devon. Statkraft, which is behind the project, has signed a Corporate Power Purchase Agreement […]

The post Solar farm to power London offices appeared first on Stockmark.IT.

Germany’s largest news publisher, Axel Springer, has made a groundbreaking agreement with OpenAI, granting them permission to utilize their articles for the purpose of training ChatGPT. OpenAI will pay the publisher to use content from titles like Politico and Business Insider for its AI chatbot’s development. Axel Springer will allow the use of selected news […]

The post Axel Springer signs deal with OpenAI for ChatGPT to read its stories appeared first on Stockmark.IT.

Cohort is facing a backlog of orders worth £353.9m after a surge in demand The rising tensions between China, its neighbours and the United States has boosted orders for British developers of hypersonic missile defenses and submarine equipment. Cohort, a company that supplies military hardware to UK allies and the Ministry of Defence, reported that […]

The post Cohort, a British defence company, has seen its sales increase as a result of the rising tensions with China appeared first on Stockmark.IT.

According to a cross-party group, the UK government was unable to prove that taxpayers received value for money on the £259bn it spent in public procurement between 2021-22. In a damning report published on Wednesday by the House of Commons Public Accounts Committee, it was alleged that ministers were unable to demonstrate they spent public […]

The post UK ministers are unable to prove that £259bn spent on procurement was wisely spent appeared first on Stockmark.IT.

According to data released just before the Bank of England’s final rate setting meeting of the year, the UK economy contracted unexpectedly in October. All three major sectors reported declines in production. According to Office for National Statistics data released on Wednesday, the gross domestic product (GDP) fell by 0.3 percent between September and October. […]

The post UK economy unexpectedly shrinks in October appeared first on Stockmark.IT.

The French media conglomerate Vivendi has proposed splitting into three separate businesses, which would be listed separately. This would be a major revamp led by Vincent Bollore. The Paris-based firm said that it had begun working with bankers to assess the feasibility of a similar plan. It said this was intended to maximize its value. […]

The post Vivendi floated a plan to split up appeared first on Stockmark.IT.

Federal Reserve chair Jay Powell sent his clearest signal yet on Wednesday that the US central bank was done with two years of tightening monetary policy and would begin cutting rates in 2024, sending Wall Street’s benchmark index closer to a record high as investors celebrated the prospects of lower borrowing costs. The Fed held […]

The post Federal Reserve signals rate cuts for 2024, sparking a market rally appeared first on Stockmark.IT.

The contract for the 190km superhighway will cost £1.8bn. It is designed to transport renewable energy from Scotland up to the north of England. National Grid and Scottish Power will begin construction of a “transformative”, £2.5bn, high-voltage electricity line along the East Coast of the UK from East Lothian County Durham in 2025. The Eastern […]

The post Subsea project to transport renewable energy from Scotland to England is awarded £1.8bn appeared first on Stockmark.IT.

AstraZeneca has acquired its first vaccine company for $1.1bn. This will allow the company to expand its vaccine and immunotherapy business, which it established during the Covid pandemic. The largest drugmaker in Britain has agreed to buy Seattle-based Icosavax. Icosavax is working on a vaccine that could treat two common respiratory illnesses. The US company’s […]

The post AstraZeneca acquires US vaccine company for $1.1bn appeared first on Stockmark.IT.

The bond markets are getting ahead of themselves by anticipating a sharp fall in the Bank Rate for next year. CPI inflation is down from double-digit levels last year. At 4.6pc, the CPI inflation rate is still more than double what it should be. Although the economy is barely growing as a result, consumers are […]

The post Why high interest rates can be a blessing for certain British businesses appeared first on Stockmark.IT.

A broker in the City stated that the UK’s biggest rail operator could suffer a £1bn loss in revenue due to Labour’s proposal to bring train networks back under public control. Peel Hunt analysts have reduced FirstGroup’s projected rail revenues for 2026, as recent polling indicates that Labour will win the next general elections. FirstGroup […]

The post FirstGroup, the UK’s largest train operator, faces a £1bn loss under Labour’s renationalisation appeared first on Stockmark.IT.

The boss of Thames Water, a struggling utility company, has admitted that the company does not have the money to repay its debts before a deadline looms. The UK’s biggest water supplier has £1.4bn in external debt due in the next few years, including £190m by April 2024. When asked by MPs whether Thames Water’s […]

The post Thames Water boss admits that the company doesn’t have sufficient money to repay debt appeared first on Stockmark.IT.

Boots, the US-owned high street pharmacy chain, is considering a £7bn UK IPO. This could give London’s struggling stock market a needed boost. Walgreens Boots Alliance, which abandoned its plan to sell Boots two years ago, is believed to be considering options for the 174-year old UK company. Boots management is pushing Walgreens towards an […]

The post Walgreen, Boots’ owner, explores London listing for high-street chain appeared first on Stockmark.IT.

The head of a British business lobby group warned that a lack of workers had contributed to ‘anti-growth situations’ in the UK. Shevaun haviland, the director-general of British Chambers of Commerce said in an article that the immigration reforms announced last week by the government — including raising the salary thresholds for skilled worker visas […]

The post Business lobby group warns of ‘anti-growth climate’ in the UK appeared first on Stockmark.IT.

The British Chamber of Commerce stated on Tuesday that UK businesses in China view 2024 as “a pivotal year” where Beijing will address the growing concerns about its faltering economy and investment climate. Beijing-based Chamber of Commerce said that a survey of UK firms in China revealed that sentiment has improved since record levels of […]

The post UK companies in China view 2024 as pivotal for investment appeared first on Stockmark.IT.

US core inflation increased last month. This supports the argument of the US Federal Reserve, that interest rates could need to be held for several months. The US core price index rose by 0.3 percent in November. However, the core rate for the entire year remained at 4 percent. The annual core measure is a […]

The post The rise in US core inflation highlights persistent price pressures appeared first on Stockmark.IT.

Netflix, which has long been criticised for its lack of transparency regarding how films and shows perform on their platform, will start publishing an “in-depth” analysis of what its subscribers watch twice a year. Netflix released its first report on Tuesday. It contained viewer data for more than 18,000 titles. This represents a total of […]

The post Netflix releases viewing statistics for its entire catalog for the first-ever time appeared first on Stockmark.IT.

Macy’s, a department store chain in the US, is the subject of an offer of $5.8bn. (£4.6bn). This would mean that one of the most recognizable names in US retail would disappear from the stock exchange. The Wall Street Journal reported that two existing investors, Arkhouse Management, and Brigade Capital, had banded together for a […]

The post Macy’s offers $5.8bn in buyouts that could remove it from the stock market appeared first on Stockmark.IT.

It has been revealed that in most cases, police and national security agencies in the EU are not allowed to use real-time data generated by artificial intelligence without a judicial authorization. This measure is part of an historic agreement that was reached on Friday between the European Parliament and EU member countries after three days’ […]

The post EU sets strict limits on the use of AI-biometric surveillance by police appeared first on Stockmark.IT.

A senior International Monetary Fund representative has warned that the world economy is at the brink a second Cold War, which could “annihilate”, the progress made since collapse of the Soviet Union. Gita Gopinath is the first deputy managing director of the IMF. She said that the fragmentation of world economies into regional power blocks […]

The post IMF official: World economy is on the brink of “cold war 2” appeared first on Stockmark.IT.

Analysts believe that the mining company Anglo American may become a target for a takeover after it warned of lower than expected production. After a brutal week, the shares of the London-listed firm rose by nearly 1% on Monday to £18.17, valuing it at £24.3bn. Anglo’s shares are down almost 45% in this year. On […]

The post Analysts say that Anglo American, a miner, could be a target for takeover. appeared first on Stockmark.IT.

For the first time since at least a decade the use of physical cash is increasing, as households are returning to coins or banknotes for managing their finances during the cost-of living crisis. According to the British Retail Consortium, 19% of transactions will be made in cash in the UK in 2022. This is up […]

The post First time in more than a decade, the use of physical money is on the rise appeared first on Stockmark.IT.

Investors have warned that the Bank of England is facing a stubborn inflation problem which may prevent it from reducing interest rates as dramatically as its peers next year. The central bank is preparing for its final policy session of 2023. The Monetary Policy Committee will likely announce on Thursday that its critical rate is […]

The post Investors warn that the Bank of England is lagging behind its peers in combating inflation. appeared first on Stockmark.IT.

Cevian Capital, one of Europe’s biggest activist investors, has seen gains of nearly 20 percent this year. This is due to the performance of building materials company CRH which switched its primary listing from London to New York this year. Investors in the fund said that the Stockholm-based investor managing $12 billion in assets has […]

The post Activist investor Cevian gains 20% thanks to CRH relisting appeared first on Stockmark.IT.

Nvidia is the most valuable chipmaker in the world. It has invested heavily in AI start-ups to capitalize on its dominant position as a processor provider. Nvidia, based in Silicon Valley, announced on Monday that it had invested “more than twenty” companies this year. These ranged from large AI platforms worth billions to smaller start-ups […]

The post Nvidia is the leading AI investor appeared first on Stockmark.IT.

Scientists have developed a system that combines brain-like tissue with electronic hardware for speech recognition and calculation. This system advances research on powerful biological computers. This work is a boost to efforts to develop so-called Neuromorphic Computing Devices powered with human brain cells, which have the potential to be faster at learning and more energy […]

The post Scientists use brain tissue for biocomputing research appeared first on Stockmark.IT.

The UK government offered Northern Irish political groups a package of financial stabilization measures totaling more than £2.5bn for five years, contingent on the return to Stormont of the Stormont executive. Party leaders met with Chris Heaton Harris, Northern Ireland Secretary, on Monday at Hillsborough. They stated that his efforts were insufficient. Heaton-Harris said that […]

The post The UK Government offers £2.5bn for the stabilisation of Northern Ireland’s finances appeared first on Stockmark.IT.

Western world’s biggest central banks will likely keep interest rates at the same level this week, amid concerns about stubbornly high inflation. This is despite expectations of sharp reductions in borrowing costs for next year. In a crucial week for the world economy, it is expected that the US Federal Reserve and Bank of England […]

The post Bank of England and Fed to hold interest rates appeared first on Stockmark.IT.

Hein Schumacher’s charm offensive and change in tone masks corporate uncertainty Hein Schumacher, the new Unilever CEO, has been at his desk for only about 100 days. But already he’s under pressure. Unilever shareholders are losing patience after years of slow growth. The 52-year-old Dutchman is under pressure to prove he can turn the trend […]

The post Unilever faces break-up battle after ‘virtue signalling’ retreat appeared first on Stockmark.IT.

Ocado has added almost 600 M&S items to its website as it tries to reduce tensions with the retail giant. Ocado Retail bosses have strengthened their M&S offer after recent concerns raised about a lack in integrated thinking. Archie Norman, M&S Chairman, , previously stated that he was “not satisfied” with performance of the joint-venture, […]

The post Ocado adds more products to its online store in an effort to reduce tensions between M&S and Ocado appeared first on Stockmark.IT.

According to a new study, the NHS budget in England will be worth £3.5bn lower this year due to inflation than it was last year. This comes at a time when the service is preparing for one of its toughest winters ever. The Health Foundation discovered that a larger-than-anticipated price increase resulted in a significant […]

The post Think-tank says that inflation has reduced the NHS England budget’s £3.5bn. appeared first on Stockmark.IT.

Federal Reserve Chair Jay Powell is facing a difficult balancing act to maintain flexibility within the US central banks policy plans, despite intense pressure from the US government to reveal the date and amount of interest rate cuts planned for next year. Powell faces a mixed economic outlook as the Federal Open Market Committee (FOMC) […]

The post Jay Powell is under pressure to present a plan for US rate cuts appeared first on Stockmark.IT.

Analysts say that the value of India’s National Stock Exchange is set to surpass Hong Kong as the largest trading venue in the world. This rise is a testament to the optimism of investors about India’s economic prospects. According to the World Federation of Exchanges (a trade association of publicly-regulated stock markets), the total market […]

The post India’s NSE is set to overtake Hong Kong as the world’s biggest market appeared first on Stockmark.IT.

Javier Milei is a libertarian economist who has been sworn in to be the president of Argentina. He promised to make deep cuts in expenditures after he was sworn in, saying only radical changes could pull South America out of its worst crisis for decades. After being sworn in as president, 53-year-old Milei addressed the […]

The post Javier Milei, the new president of Argentina, has pledged to cut deep spending. appeared first on Stockmark.IT.

According to sources familiar with the situation, US health insurer Cigna abandoned plans to merge Humana. This would have created an insurance giant worth $140bn. The merger would have been largest deal of the year. Cigna’s decision was based on disagreements over financial arrangements and regulatory concerns, as well as falling stock prices after reports […]

The post Cigna cancels blockbuster insurance deal with Humana appeared first on Stockmark.IT.

The UK small business group has asked the country’s main financial regulator to help stop “unfair” banking practices that are making entrepreneurs risk their homes unnecessarily. The Federation of Small Businesses told it had filed a “super-complaint” — the first to be made to the Financial Conduct Authority — focused on “banks that excessively demand […]

The post UK small businesses ask regulator to step in over ‘harsh banking practices’ appeared first on Stockmark.IT.

UK ministers are to cut about £90mn from the BBC’s annual budget after announcing a smaller than expected increase in the corporation’s licence fee next year given the cost of living crisis. The government’s move came on Thursday alongside a review into the future of the licence fee and alternative funding options, including advertising and […]

The post BBC to face further cuts following Ministers’ curtailment of licence fee increases appeared first on Stockmark.IT.

Venezuelan President Nicolas Maduro raised the stakes dramatically in his country’s dispute over its border with Guyana. He ordered state companies to exploit contested mineral and oil deposits, and redrawn official maps following a “overwhelming mandate” in a Sunday referendum. Guyana is concerned about Maduro’s aggressive speech and worries that Venezuela might invade Essequibo, which […]

The post Venezuela increases stakes in dispute over oil with Guyana appeared first on Stockmark.IT.

Somerset Capital Management is closing after large redemptions from clients made it unsustainable. This move represents a dramatic turnaround in fortunes for Somerset. A specialist in investing in emerging markets at its height in 2018, it had $10bn of assets under management. It rejected an offer of up to £90mn four years ago from its […]

The post Somerset Capital Management will close after losses to clients appeared first on Stockmark.IT.

Ofwat questioned Thames Water about how it could justify paying a dividend of £37.5 million to its parent company without breaking rules meant to safeguard consumers and the environment. The water regulator announced that it was investigating if the dividend, announced on Tuesday, was consistent with the licence requirements of the company. The water regulator […]

The post Thames Water must answer questions from Ofwat regarding dividend payments appeared first on Stockmark.IT.

Oil prices are at their lowest levels in five months, as investors become increasingly skeptical that the production cuts announced last week by Opec+ will be sufficient to offset rising supplies from outside of the cartel. Brent, the benchmark for international crude , dropped 3.8 percent to $74.30 per barrel on Wednesday. This is the […]

The post Oil drops to lowest level in five months despite Opec+ cuts appeared first on Stockmark.IT.

AMD, a chip designer, is now selling a product that aims to challenge Nvidia’s stronghold in the market for artificial intelligence processors.It estimates this market to be worth 400bn dollars by 2027. Lisa Su, AMD’s chief executive, said that AMD’s MI300X is the “most advanced AI accelerator” in the industry. She made this claim at […]

The post AMD launches new AI chip to compete with Nvidia appeared first on Stockmark.IT.

The Bank of England has warned that private credit and leveraged loan markets are vulnerable to “sharp” revaluations. This is its latest warning about the risks in non-bank financing. The BOE Financial Policy Committee warned about challenges facing two sectors due to high interest rates, persistent inflation, and increased uncertainties about the long-term outlook. Andrew […]

The post Bank of England warns of risks associated with private credit and leveraged loans appeared first on Stockmark.IT.

A trade group has cautioned that Michael Gove’s proposal to limit ground rentals in England and Wales may expose the government to multi-billion pound compensation claims from institutional investors. The UK’s levelling up minister has stated that he is “immovable”, in his determination to change the leasehold system, which he called “feudal”. Investor groups and […]

The post Michael Gove’s reforms on ground rents could lead to a backlash from UK investors appeared first on Stockmark.IT.

The billionaire Issa Brothers, who own Asda, agreed to sell more than 200 KFC restaurants as part of their plan to reduce their large debt. EG Group has announced that it will sell its 218 KFC franchises located in the UK and Ireland, to Yum Brands of Kentucky. The proceeds of the sale , which […]

The post The Issa brothers, who are billionaires, have sold off KFC to reduce their debt. appeared first on Stockmark.IT.

BlackRock, world’s biggest asset manager, says that the world has entered a new age of low growth rates and high interest rate. The report warned that will be more volatile in coming years, and that economies cannot grow as fast as they did in the past. Alex Brazier is the deputy head of BlackRock Investment […]

The post BlackRock: World entering a new era with low growth and high rates of interest appeared first on Stockmark.IT.

Muddy Waters, a hedge fund, is warning that Blackstone’s New York-listed Mortgage Trust could run out of cash. Carson Block, , chief executive officer of Muddy Waters, revealed on Wednesday the company had started shorting its stock. He said that soured commercial loans might trigger a liquid crisis. Block, a powerful investor, is now in […]

The post Blackstone Mortgage Trust is at risk of “liquidity crisis”, says hedge fund manager appeared first on Stockmark.IT.

Years ago, Brexiteers referred to the UK as “a treasure island” that brought Berlin billions of dollars in revenue each year. It was prophesied that one day, the German Chancellor will convince Brussels to give in to British demands and protect these sales. This prediction, which was made more than seven-years ago by Britons who […]

The post How Britain and Germany worked together to defeat France over electric car tariffs appeared first on Stockmark.IT.

The United Arab Emirates purchased a 49% stake in a major British wind farm, even though increasing costs have raised concerns about the industry’s future. Masdar, the company owned by the Gulf State and presided over by the Cop28 president, has purchased a minority stake from Spanish developer Iberdrola in the East Anglia Three off-shore […]

The post UAE invests in UK wind farm market appeared first on Stockmark.IT.

German automakers are accused of providing Vladimir Putin’s Russia by the backdoor as Central Asia exports boom. Exports of vehicles and parts to Kyrgyzstan have increased by 5,500% compared to 2019, according to the Institute of International Finance. German auto parts to Kazakhstan and Armenia were up 720pc each, while Georgia and Georgia was up […]

The post German automakers accused of supplying Putin’s Russia via the backdoor appeared first on Stockmark.IT.

Junior doctors in England will continue their strike for nine days in December and January because they couldn’t agree with the government on a better pay offer. Junior doctors in the UK will go on strike from December 20 to 23, as well as from January 3 to 9. The health sector will be negatively […]

The post Fresh strikes by junior doctors in England in December and January appeared first on Stockmark.IT.

Thames Water faces new scrutiny by lawmakers and regulators regarding its financial state. Ofwat said on Tuesday that it is investigating the £37.5mn in dividends paid by Britain’s largest water company in October. MPs want to talk to Thames Water managers about the £500mn invested by the utility’s investors in order to understand it better. […]

The post Thames Water investigated for financial stability and dividends appeared first on Stockmark.IT.