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| 11-02-2024 |
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Welcome to the weekly international news from Stockmark.IT - covering the news that affecting international financial markets.
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Pantheon Resources: The Rising Star in Alaska’s Oil Landscape – An Investment Analysis
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MetalNRG PLC Secures £223,000 via Convertible Loan Notes for Financial Enhancement
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Inside Putin’s Mind: Historical Claims and Roots of Russia-Ukraine Conflict
Exclusive: Tucker Carlson Interviews Vladimir Putinâ features an in-depth interview with the Russian President, focusing on the war in Ukraine, its historical context, and potential resolutions. Putin discusses Russiaâs historical claims to parts of Western Ukraine, expresses concerns about NATO expansion, and addresses broken promises made to Russia after the collapse of the Soviet Union. The conversation also covers Russiaâs relationship with Ukraine and the West, highlighting accusations of US involvement in Ukraineâs coup, as well as Russiaâs actions in Crimea and Donbass. Putin emphasizes the need for implementing the Minsk agreements, denazification in Ukraine, and skepticism regarding Russia posing a global threat. Additionally, the interview delves into economic impacts, the essence of religion, moral values, and the need for international regulation in response to threats from uncontrolled development of AI and genetics. Throughout the discussion, there is a call for peaceful negotiation and readiness for dialogue between Ukraine and larger countries.
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The tax payer bill for benefits for workers of working age will reach 100 billion pounds this year
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Ship shortage delays Britain’s largest wind farm
The completion of Britain’s largest offshore Wind Farm will be delayed by an entire year due to a chronic lack of construction vessels. According to the developer of Dogger Bank, SSE, it has been affected by significant disruption due to bad weather, storms, and a shortage of vessels capable of building it. The two most […]
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UK pension funds have lost £425bn due to the bond market crisis in the past year
According to a recent regulatory analysis, the value of UK pension funds will plummet by approximately £425bn by 2022 due to bond market turmoil caused by Liz Trussâs âminiâ Budget. This led to retirement schemes being forced to sell assets. This week, the Pensions Regulator released a long awaited Report that revealed the extent of […]
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Scientists from Europe set a record for nuclear fusion energy
Scientists in Europe have achieved a new record for energy produced by nuclear fusion. This is another step forward in the decades-long quest to harness the reaction that powers our sun. Researchers at the Joint European Torus Facility outside Oxford produced 69 megajoules during a sustained reaction lasting five second — enough energy for about […]
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China exports deflation around the globe as its economy falls apart
Global investors expect falling prices in China to push down inflation rates worldwide this year, as excess capacity in its slowing economy prompts Chinese exporters to cut prices on goods they sell abroad. Prices of Chinese exports have been falling at their fastest rate since the 2008 financial crisis, indicating the worldâs largest exporter is […]
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Shares of Arm are up almost 50% due to AI demand
Arm shares soared almost 50% on Thursday, after the UK chip manufacturer reported higher revenues, boosted by a strong demand for artificial Intelligence. SoftBank-backed Arm raised its outlook for earnings after it reported revenue of $824mn in the three-month period ending December. This was up 14% year-on-year, and exceeded analysts’ expectations. This is Arm’s second […]
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Hipgnosis shareholders support £20m in sweetener to be added to the music sale
Shareholders of Hipgnosis Songs Fund overwhelmingly supported a board proposal that would pay a fee up to £20million to potential suitors to increase the appeal of bidding on its music assets. A special resolution was passed at an extraordinary general assembly by 99.9% of shareholders, who hold the rights to artists from Shakira and Neil […]
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Unilever increases prices to combat cost of living crunch
As the cost of living continues to rise, shoppers are turning away from Unilever brands of ice-creams, condiments, and bleaches. They prefer supermarkets own-brand products. Unilever acknowledged that only a third (of the brands) of consumer goods giants such as Ben & Jerry’s Hellmann’s or Domestos grew their share of market last year. The FTSE […]
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British American Tobacco cuts stake in India’s ITC following $17bn loss
The London-listed manufacturer of Lucky Strike cigarettes and Dunhill cigarette is looking to reduce its £15 billion shareholding in an Indian conglomerate. This has triggered a sharp rise in the price of its shares as investors welcomed a potential buyback. British American Tobacco wants to reduce the 29 percent plus of its holdings in ITC […]
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Oxford friends share eight-figure payouts when Americans buy their company
A technology company powered by AI founded by three Oxford University grads will be acquired by a US group, making at least 12 of its employees millionaires. Entrust, an American payments and data security company, has acquired Onfido of London, which specializes in ID verification software. The final price is not disclosed but it’s believed […]
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SoftBank retorts, vowing to pursue new AI investments
A leading tech investor in the world has announced a profit for the first quarter since more than a full year. This was due to a windfall from T-Mobile shares and rising stock prices. Softbank posted a net income of $6.4 billion in the third quarter, up from $5.25 billion in the previous year. Its […]
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Digital 9 sinks due to antitrust concerns
On Thursday, the decline in Digital Nine Infrastructure shares continued and the stock ended the session at the lowest price ever recorded. The data centre and wireless network infrastructure investor’s share price dropped after the company spooked investors with an announcement regarding the sale its stake in Verne Global. Verne Global is a data operator, […]
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AstraZeneca predicts double-digit growth for another year
AstraZeneca’s long-serving chief executive vowed that the future of Britainâs largest drugs group was “never healthier”, as it predicted another year of double digit growth. However, the shares fell as core earnings did not meet market expectations. The London Stock Exchange announced the full-year results of the company to celebrate the 25th anniversary of the […]
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China’s rising prices create uncertainty amid the property crisis
The pace of inflation in China is the lowest since the financial crisis. This has led to concerns about the weakening demand in the second largest economy in the world. According to the National Bureau of Statistics, China’s consumer price index fell to -0.8% on an annualized basis in January. This is the largest drop […]
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The new battery technology could allow electric cars to travel 1000 km on a single charge
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Britain could have a commercial nuclear fusion reactor “as early as the 2040s”
STEP’s engineer hopes to win the race against global rivals for clean, limitless power. According to the engineer in charge of the UK’s latest scheme to achieve the dream of unlimited clean energy, a commercial nuclear fusion plant could be operational as early as 2040. Paul Methven oversees the design of UK Spherical Tokamak for […]
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Uber’s first operating profit turns the corner
Uber Technologies reported its first annual operating profit in history. The demand for its ride-sharing business, advertising, and food delivery was a major factor. The company’s operations generated $1.1 billion of income in 2023. This reversed a $1.8 billion loss in 2022. Revenues of $37.3 billion were up 17 percent from $31.9 billion a year […]
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Dutch-style mortgages are now available in the UK
New Dutch-style lenders are releasing fixed-rate mortgages with rates that automatically decrease as the borrowers pay them back. April Mortgages was authorised by Financial Conduct Authority (FCA) in October and plans to offer new loans by March to homeowners who are remortgaging or to those who are buying a home. The bank is the UK […]
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High street battles back against online retail failures
As the “pendulum is swinging back to brick-and-mortar retailers”, the number of online-only retail stores going bankrupt has reached a new record. Price Bailey reports that 615 companies went bankrupt last year. This is a 13 percent increase from 2022 when 545 businesses collapsed. The accounting group reported that the number of Internet-only Retail Sector […]
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Sainsbury’s continues its evolution with the mantra ‘Food First’
Industry experts have described the new Sainsburyâs strategy as “more evolution rather than revolution”. Simon Roberts has reiterated that he wants to “put food at the center” of his business. He will expand on the “food first” plan that he introduced in 2020, which has helped regain market share from German discounters Aldi Lidl. The […]
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The merger of Barratt with Redrow creates a “resilient” powerhouse
Barratt Developments agreed to a £2.5 billion deal with Redrow. This will allow it to cement its position as one of the largest housebuilders in the country while also reducing costs by approximately £90 million. The tie-up, if approved by the shareholders, would create a new developer that could build 23,000 homes in total across […]
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BP boss: AI will cause global gas demand to surge.
The head of BP predicted that the AI revolution would trigger a global demand surge for fossil fuels. BP said it will ramp up its gas production over the next few years. Murray Auchincloss said that demand for energy, including renewable sources like wind and solar, will be “very strong” in the face of a […]
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Canary Wharf office suffers 60% loss in distressed sale
Canary Wharf’s office building, which fell into receivership in 2013, will be sold for 60 percent less than its previous sale price. This is a clear indication of the sharp decline in value of commercial property in London. Five Churchill Place was placed up for auction last year by a group of lenders after it […]
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SEC tightens oversight of $26tn Treasury Market
US regulators have brought high-speed traders, some hedge funds and the $26tn Treasury Bond market under direct supervision. This is a measure to improve its stability after a series crises. The Securities and Exchange Commission voted in Washington on Tuesday by a margin of three to two in favor of the rule, which will require […]
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Adam Neumann wants to save WeWork from bankruptcy
Adam Neumann claims to have Wall Street backing in order to purchase WeWork from bankruptcy. He was fired after accruing billions of dollar losses. Neumann’s lawyers sent a letter on Monday to WeWork saying that he had “partnered” with Daniel Loebâs hedge fund Third Point. They also said they had tried to communicate with the […]
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Vodafone is in “active discussions” to sell its Italian business
Vodafone is still in “active discussion” about a possible deal for its struggling Italian operation, while its largest market in Germany has seen its growth slow down. The FTSE 100 Telecom Group posted a mixed trading update for the third quarter on Monday. Service revenue grew 4.7 percent in the three-month period ending December, which […]
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Watches of Switzerland clock up after review of ‘tourist taxes’
After the decision of the chancellor to review the tax-free shopping for tourist, some of London’s largest sellers of luxury items were in high demand. The potential reversal of so-called “tourist tax”, which retailers claim has cost them £1.5billion in lost sales by 2022, may provide a boost for companies like Watches of Switzerland which […]
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Investment group invests in high-yielding stocks
The Association of Investment Companies’ website recorded the most searches for City of London Investment Trust last year. The FTSE 250 firm with a market capitalization of £2 billion took the top spot in the rankings for the second consecutive year. Investors seeking a reliable income during these inflationary times have been attracted to its […]
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Three new sites help weight-loss injection maker reduce supply problems
The Danish company behind the weight-loss injection Wegovy, has agreed to buy three manufacturing facilities for $11 billion in order to increase production due to a surge of demand. Novo Nordisk will acquire the facilities in a three-way agreement under which Novo Holdings (its controlling shareholder) has agreed to purchase Catalent, a US contract drug […]
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BP announces a $14bn buyback of shares after exceeding expectations
BP reported fourth-quarter profit ahead of expectations despite the fact that oil and gas prices have fallen from their highs at the start of the Ukraine war. The FTSE 100 Oil and Gas group reported profits in the final quarter of last year of $2.99 billion, beating analyst expectations by $2.77 billion. This was boosted […]
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ONS reveals the depth of the crisis as it finds 400,000 additional dropouts
The jobless crisis in Britain is more serious than thought. New estimates reveal that over 400,000 people have left the workforce due to long-term illness at a record high. According to the Office for National Statistics, there are 9.25 million people between 16 and 65 that are neither working nor searching for work. They are […]
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Private equity investors pile up debt to pay dividends
US private equity firms rush to capitalize on lower borrowing costs, by putting debt onto their portfolio companies. They then use the cash they generate to pay dividends both to themselves and to their investors. In January, corporate borrowers sold $8.1bn in junk-rated US loan to fund shareholder payments. This was more than six times […]
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Electric vehicles are halted by private buyers
Last month, the number of zero emission vehicles sold to private purchasers fell by 25%. The Society of Motor Manufacturers and Traders’ (SMMT) latest figures have prompted it to reduce its forecasts for the percentage of the market that will be electric in 2019. This news comes as an influential committee of parliament on climate […]
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Savings of over a trillion pounds is held in low-interest savings accounts
More than £1 trillion of the nation’s savings is sitting in accounts earning less than 2 per cent, while the base interest rate is 5.25 per cent, according to an analysis of Bank of England credit data. The figures, which include money held in savings and current accounts, will add to criticism that Britain’s biggest […]
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Companies say that high energy prices will increase their prices
Over 80 percent of British firms expect to raise the prices of their products and services in the next two-year period, raising concerns that inflation won’t fall back to Bank of England target. PwC conducted a survey on companies and found that 81 percent said they would increase consumer prices until 2026 due to rising […]
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Ireland’s life sciences industry is healthy, leaving the UK sickly.
Novo Nordisk’s attempts to alleviate global shortages of the “wonder drug”, which it claims to be a weight-loss miracle, have led them to a businesspark on the outskirts Dublin. Last year, the Danish group overtook LVMH (the French luxury goods conglomerate) as the most valuable company in Europe, thanks to its breakthrough success with the […]
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The stock market is about to be transformed by big tech
The massive dividends announced by Meta last week, the company which controls Facebook and Whatsapp will buy a lot hoodies and at least generate enough cash for Sir Nick Clegg to think twice about returning to British politics. Mark Zuckerberg and his team will be able to generate up to $700m (£550m), annually. It’s more […]
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Sunak’s tax raid is a stealthy one to catch 900,000.
New analysis shows that Rishi Sunakâs stealthy tax raid could hit up to 900,00 pensioners next year with a unexpected income tax bill. The six-year tax threshold freeze by the Prime Minister will make it necessary for hundreds of thousands retirees who claim a married couple tax break to pay an additional levy. Marriage allowance […]
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UK pension trustees warn against offshore risk transfer
Senior industry professionals are concerned about the increasing involvement of foreign reinsurance companies operating outside UK regulations in corporate pension arrangements. Many UK companies with large pension plans have sold them to life insurers. These “buyouts,” of pension plans, and the assets that support them, are considered the gold standard in safeguarding benefits. As higher […]
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Rocket Revolution threatens to undo years of European space unity
When he spoke to aerospace executives and innovators at Toulouse, the French president Emmanuel Macron had a combative tone. “We have been fighting for months, saying that European sovereignty is European Unity. He told the gathering of December in France’s aerospace hub that some partners had decided to compete. “So, take note that we will […]
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Boeing is in the ‘last-chance saloon’: warns Emirates’ head
Emirates Airline’s head has warned Boeing that it is in the “last-chance saloon”, as he prepares to send his engineers to oversee Boeing’s production line after witnessing the long decline in the manufacturing performance. Sir Tim Clark said that he saw a “progressive decrease” in Boeing standards. He attributed this to management and governance mistakes, […]
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Iran used Lloyds and Santander to evade sanctions
Iran used two of Britain’s largest banks to move money covertly around the globe as part of an extensive sanctions-evasion plan backed by Tehranâs intelligence services. Documents show that Lloyds and Santander UK opened accounts for British front companies owned secretly by a Iranian company located near Buckingham Palace. The US has accused the state-controlled […]
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NatWest shares sale targets 2 Million Ordinary Investors
The government wants to convince up to 2 million people to buy NatWest shares when it sells its stake in the bank. The company has asked marketing firms to pitch to run the publicity campaign for the sale to create buzz similar to John Lewis Christmas ads. The City will be surprised by the size […]
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Jeff Bezos toasts $8bn Amazon delivery
According to filings, Jeff Bezos will make more than $8 billion from the sale of a large stake in Amazon. The third richest man in the world, with a net worth of $185 billion (£146billion), is looking to sell up to 50 millions shares in his retail giant founded in 1994. The sale of shares […]
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UK taxpayers invested £400m in OneWeb. Its technology is now a gift for France.
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Jeremy Hunt’s review aims to eliminate tourist tax
Jeremy Hunt ordered a review of the so-called tourist tax, the clearest indication yet that the Treasury could be on the verge of a major policy reversal which would give Britain’s retailing and leisure industries a much needed boost. Office for Budget Responsibility has been asked to “examine costs and benefits” of Rishi Sunakâs decision […]
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UK manufacturers affected by Red Sea disruption, rising shipping costs
Adidas’ boss warned of “exploding global freight rates” after Houthi rebels attacked in the Red Sea, causing delays to shipping and increasing costs. A survey shows that UK manufacturers are experiencing growing supply chain problems as the Red Sea Crisis has led to the rerouting raw materials, components, and other goods from the Suez Canal. […]
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BAE develops a ‘Land Rover of the Sky’ to transport troops
The new generation of heavy-lift drones is expected to revolutionise war After acquiring a rapidly-growing British manufacturer, BAE Systems has developed a new generation heavy-lift military robots capable of evacuating wounded troops and delivering supplies. The FTSE100 defence giant on Friday completed the acquisition of Malloy Aeronautics, for an undisclosed amount. Malloy, a Berkshire resident, […]
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Ferrari profits surpass €1bn as drivers spend on luxury 4x4s
Strong demand for four-door SUVs priced at £300,000. Ferrari’s profits have surpassed â¬1bn (£850m), for the first ever , as wealthy drivers spend lavishly on luxury SUVs. The Italian automaker reported a record-breaking net profit in 2023 of nearly â¬1.3bn, an increase of over a third from the previous year. Ferrari reported that sales were […]
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EU approves €50bn package of support for Ukraine
After being pressed by his colleagues, Viktor Orban, the Hungarian prime minister, rescinded a veto he had previously taken on the financial aid package. The compromise reached at an emergency EU summit came after an unprecedented pressure campaign on Orban. Orban is the only member of the EU that has maintained friendly relations with Russian […]
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Fears about the US commercial real estate market resurface after bank losses
The mounting losses of banks in Asia, Europe and the US have reignited concerns about the weakness in the US Commercial Property Market, which has been under pressure due to lower occupancy rates and higher interest rate. The regional US lender New York Community Bancorp revealed on Wednesday that it has suffered large losses in […]
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Rank Group has been the big bet of the day after a return in profit
Rank Group’s positive half-year performance prompted traders and bookmakers to place bets. Owners of Mecca Bingo & Grosvenor Casinos made a profit in the six months up to the end December, with a pretax profit of £10.4m. This is a huge turnaround from the £109.2m loss they had in the same time period last year. […]
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Shell announces a $3.5 billion buyback despite declining profits
Shell announced plans to buyback another $3.5 billion in its shares, after its fourth-quarter profit exceeded expectations. This was helped by an “exceptional performance” by its gas trading division. The company’s profits dropped from their record-breaking levels in 2022 due to lower oil and gas prices, but they were still its second highest annual earnings […]
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The bid to take over Paramount is not a joke
A former stand-up comic turned film producer and entrepreneur made a $30 billion bid for Paramount Global. It is one of America’s largest entertainment companies. Bloomberg News reports that Byron Allen, 62 years old, founder and CEO of Allen Media Group has made a multibillion dollar bid for Paramount. This includes debt and equity. Paramount […]
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Tata Steel won deal of the century by bluffing Port Talbot’s closure
Tata Steel is accused by MPs of using a bluff to get the government to give it a £500m bailout. This was a “deal for the century”, made on taxpayers’ money. Union leaders told a parliamentary hearing about Tata’s plans for closing its blast furnaces in Port Talbot in south Wales, which was supported by […]
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Bank of England hopes interest rates are at their peak
The Bank of England said that borrowing costs had peaked, and inflation would fall to the target of 2% in the spring. Andrew Bailey, governor of the state, stated that the “key” question was now when to reduce rates. This could provide homeowners with further relief. Jeremy Hunt, chancellor of the Bank, said the Bank’s […]
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Santander chief warns that banks are at risk of being unable to meet mortgages up to 99 percent
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Vodafone rejects merger bid of €10.5 billion by French billionaire
Vodafone rejected an offer from billionaire telecoms tycoon Xavier Niel for a â¬10.5bn deal (£9bn). Last month Mr Niel’s Iliad Group proposed to combine their Italian business . They argued that the move would build scale on a market which is becoming increasingly competitive. Iliad, after an initial approach to Vodafone, sweetened the deal with […]
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Several North Sea oil drilling licenses awarded to foreign firms
In the most recent round of exploration licenses, Korean, Malaysian and Norwegian companies were granted permission to drill in the North Sea for oil and natural gas. The North Sea Transition Authority (NSTA), which is responsible for the licensing of drilling in the UK’s North Sea, said that 74 areas of the North Sea and […]
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Paris asks for UK loan guarantee following the cost explosion of Hinkley Point nuclear power plant
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Amer Sports, the apparel manufacturer of Arc’teryx, considers IPO prices below range
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El Musk’s empire and the $56bn Tesla deal that went wrong
Elon Musk’s long-term compensation package includes shares worth $56 billion. A Delaware judge ruled that Musk must forfeit the shares. This has caused a stir at Tesla and threatens to distract the boss from the problems at his company and other business ventures. Musk commented on X, his social media platform. If the ruling is […]
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Novo Nordisk shares reach record highs as obesity drug boom drives share prices up
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Diageo’s profits in Latin America hit by “perfect storm”
Diageo’s chief executive has announced plans to reduce stock levels drastically in the region of Latin America, which is struggling. A “perfect storm” caused sales and profit targets to be missed. Debra Crew who was appointed in June of last year said that the “materially lower performance” in this region had been caused by “fast […]
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Investors punish Alphabet, owner of Google, for its advertising shortfall
Alphabet disappointed its investors when holiday advertising sales fell below expectations. This overshadowed the company’s efforts to develop artificial intelligence and cloud computing. Google, the owner of YouTube and Google, fell short on estimates for advertising revenues in the fourth quarter. The average estimate was $66.1 billion and $59 billion during the same period a […]
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Sky cuts 1,000 jobs due to the shift from pay-TV customers to internet
Sky will cut 1,000 jobs due to the shift from traditional satellite pay TV to streaming services. This is the latest round of redundancies that has hit the UK media sector. The company employs around 26,000 people in the UK and is looking to reduce their workforce by 4%. Cuts will be made primarily by […]
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PayPal will cut 2,500 jobs in an effort to re-size itself
Alex Chriss, the CEO of PayPal, said that it plans to cut 2,500 jobs or 9% from its global workforce this year. In a memo sent to employees on Tuesday, the newly-appointed CEO explained that the decision had been made to “right size” the company by making both direct cuts and eliminating open positions throughout […]
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Stormont agreement: Sinn Fein declares that a united Ireland is ‘within touching range’
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Insolvencies in England and Wales to reach 30-year high by 2023
According to official statistics, corporate insolvencies in England & Wales reached their highest level in 1993 last year. This highlights the challenges faced by companies due to a slowing economy and high production costs. The Insolvency Service reported that there were 25,158 company bankruptcy registered in 2023. This is up 13.7% from the previous year […]
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CD&R’s Morrisons sold petrol forecourts for £2.5bn to sister company MFG
Wm Morrison, a private equity-owned UK supermarket chain, has reached a £2.5bn agreement to sell its petrol forecourts to Motor Fuel Group. This will help Morrisons to improve its balance sheet. Clayton, Dubilier & Rice, a US-based buyout firm, owns both companies. Under the terms, Morrisons will retain a 20% stake in the expanded MFG […]
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Air Astana warns before float bid
Air Astana could be worth up to 750 million pounds sterling when it goes to market. This is the Kazakhstan flag carrier’s plan to be the largest float this year in London. Air Astana, however, has given 50 reasons to potential investors why they should not become shareholders in the airline. A list of risks […]
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Germany is on the brink of recession
Germany’s economy contracted by 0.1% in 2023. This means that it is almost certain to have had the worst performance of the G7 club. The largest economy in Europe has, however, avoided a technical contraction — defined as two consecutive quarters of contraction — over the past year. According to Destatis (Germany’s statistical agency), the […]
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Investors expect Auction Technology Group to go under the hammer
One bank announced that the company was a possible takeover target on the same day Auction Technology Group reported a successful start to the new year. Analysts at Berenberg said that Auction Technology is a tool that helps traditional auctioneers go digital worldwide, whether it’s destroying industrial machinery or art. “It lends itself well to […]
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Microsoft AI advancements boost revenues to $62bn
Microsoft’s Cloud and Windows services helped it beat Wall Street forecasts of revenue for the second quarter. Analysts had estimated that revenue would be $61.12 billion, but it rose 18% to $62 billion. Microsoft’s Intelligent Cloud division, which includes the Azure cloud computing platform, which competes with Amazon AWS, and Alphabetâs Google Cloud grew revenue […]
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Little room for big tax cuts, Hunt tells Tories
Jeremy Hunt warned the cabinet of the possibility that the tax cuts included in the spring budget could be less than expected due to “major structural weakness” in the economy. On March 6, the chancellor or prime minister will consider reducing income tax, or the national insurance rate. They are hoping to boost the Conservatives’ […]
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Britain to deploy aircraft carriers to the Red Sea
Navy ready to send HMS Queen Elizabeth and HMS Prince of Wales in the Gulf amid Houthi attack on shipping The UK is preparing to send a aircraft-carrier to the Red Sea to counter drone and missile strikes from Houthi rebels. The Royal Navy has prepared to replace the USS Dwight D Eisenhower upon its […]
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Apple claims UK could secretly veto global privacy tools
If the UK Home Office refused an update under the proposed changes to existing laws, then it could not be released anywhere else and the public wouldn’t be informed. The Government is looking to update the Investigatory powers Act (IPA) 2016 The Home Office stated that they support privacy-focused technology but also added that they […]
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EU to force cosmetic companies pay for reducing microplastic pollution
After EU negotiators reached a new agreement to treat sewage, beauty companies will be required to pay more for cleaning up microplastics. According to a draft rule that follows the “polluter-pays principle”, companies selling medicines and cosmetics must cover at least 80% extra costs to eliminate tiny pollutants that contaminate urban wastewater. Members of the […]
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Ryanair reduces profits after removing flights from online travel agencies
Ryanair’s top-end profit estimates have been lowered this year, after online travel agencies removed flights operated by the Irish airline abruptly from their sites. The airline has been removing the travel agencies from its website for a while now. This is part of an ongoing spat with online travel agents such as Kiwi, Lastminute, and […]
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Channel 4 confirms that it will be selling its London headquarters as it announces job cuts
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Investor attacks BP over ‘irrational switch’ to clean energy
Oil giant accused of leaving shareholders £40bn worse off with unrealistic strategy After an activist investor claimed that they had left shareholders £40bn worse off, BP faces new demands to scrap the “irrational”, net zero commitments promoted by former CEO Bernard Looney. Bluebell Capital Partners, an investor who has a small stake in BP and […]
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Food industry warns of new Brexit border regulations that will affect UK supply chains
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Bank of England to maintain rates despite improved inflation backdrop
The Bank of England is likely to acknowledge this week that it is seeing unexpectedly rapid progress in getting inflation down, analysts said, but the central bank is not expected to begin cutting interest rates yet. The BoEâs Monetary Policy Committee is widely anticipated to hold rates at 5.25 per cent for a fourth straight […]
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Alzheimer’s disease was transmitted between humans using a now-banned technique, study finds
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Amazon cancels $1.45bn iRobot deal over EU threat to block deal
Amazon announced on Monday that it had cancelled its $1.45bn purchase of Roomba manufacturer iRobot, as EU regulators were preparing to block the deal over concerns about competition. In a Monday statement, David Zapolsky Amazon senior vice-president said, “We are disappointed that Amazon could not complete its acquisition of iRobot.” This will prevent consumers from […]
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Flutter, a betting group, proposes to move the UK listing to New York
The gambling group Flutter that owns Paddy Power plans to leave the UK’s FTSE 100 Index by moving its primary listing from London to New York. This will be another blow for London’s ailing stock market. The company announced on Monday that if shareholders approve, Flutter could move to the US Stock Exchange from the […]
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Court to tell Bank that they encouraged Libor rigging
In a dispute between Lloyds Banking Group and a businessman worth £1.3 billion, the High Court will hear claims that the Bank of England encouraged manipulation of Libor. Ardeshir Naghshineh is suing Lloyds for allegedly “fraudulently manipulating” the Libor benchmark. Lloyds had rescued HBOS in 2009. If he knew about the alleged “fraudulent exploitation”, he […]
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The Bank of England is now facing a new problem as a result of falling inflation
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Construction delays hit the planned Russian gas pipeline from China to Russia
The construction of the Kremlinâs long-planned Mega-pipeline linking Russiaâs western gasfields to China will be delayed, according to the Prime Minister of Mongolia. This is a blow for Moscowâs plans to secure new markets for the gas that it sold previously to Europe. Moscow has prioritized the so-called Power of Siberia 2 pipe, which will […]
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Superdry plans UK store closures after CFO resignation
Superdry has been working with PwC advisers to develop restructuring plans, which could include closing stores and cutting rents. The fashion chain is fighting for its survival. One option could be a Company Voluntary Arrangement (CVA), an insolvency tool controversially used by Julian Dunkerton, the chief executive and founder. CVAs are used to force landlords […]
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Elizabeth Line contract worth £3bn is on the table as Chinese operator’s tenure expires
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John Lewis: Group plans £260m turnaround, which could result in 11,000 job cuts
John Lewis Partnership raised £260million to fund its turnaround, as the struggling mutual prepares for job cuts of up to 11,000 people. The partnership that owns John Lewis department store and Waitrose supermarkets has raised new funds by taking out new bank loans and selling and leasing 11 Waitrose stores. Separately the partnership, which is […]
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Hinkley Point: Why can’t Britain build new nuke power stations?
Imagine that you are a fish swimming in the Bristol Channel. Imagine you are a fish swimming in the Bristol Channel, with your herring, sprat, and brethren. Suddenly, you are sucked up into the cooling system of a nuclear plant, never to be seen ever again. The threat of marine life to the plant’s new […]
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NatWest prepares public share sale for this summer
Jeremy Hunt has begun preparing for a public sale of NatWest shares worth billions of pounds, which could happen as early as June. This would be reminiscent of Margaret Thatcher’s privatisation policy “Tell Sid”, ahead of a General Election. In his autumn statement of November, the chancellor stated that he will “explore options” to offer […]
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Soaring High with Pulsar Helium: A Glimpse into the Future of Helium Exploration
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Investor Alert: Upcoming Field Season: First Class Metals Big Moves in 2023
In this insightful interview, Mark Sale., CEO of First Class Metals, sheds light on the current investor concerns and outlines why First Class Metals is a compelling buy now. Recorded amidst volatile market conditions, Mark discusses the progress of key projects, including the highly anticipated updates from the Zulu project, Panther Metals, and more, while answering questions from shareholders.
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Scotch Whisky producers celebrate wealthy Asian drinkers for defying luxury gloom
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The Commission Limited, Kemp House 160 City Road London EC1V 2NX
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