Airbus expects to deliver about 800 planes this year, 65 more than last year, it said on Thursday as it reported an increase in profits and strengthened its position as the world’s largest aircraft-maker. The European aerospace company said that core profit rose 4 per cent to about €5.8 billion over last year, with revenue […]

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The executives at Lyft are left with a red face after a typo was found in the financial results of the ride-hailing service. This led to a nearly 70 per cent increase in its share price. Lyft announced that it would grow its margins by a much higher percentage than anticipated in the coming year, […]

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Relx increased its dividends and began a £1-billion share buyback in response to the strong demand for its artificial intelligence (AI) products from scientists and lawyers, and its continuing recovery in its events business. In the fall, the company, which is one of the largest on the FTSE 100 list, began commercializing artificial intelligence (AI). […]

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Centrica’s recovery has been aided by the energy crisis. The profits for British Gas’ owner were nearly £2.8 billion in 2018. This is a drop from the £3.3 billion record set in 2022 but still second in group history. British Gas was one of the biggest beneficiaries from rising energy prices in 2018. This was […]

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Blackstone has halted plans to sell the Canary Wharf tower for £250m as companies and investors shun office space within the financial district. A US private equity company had exclusive discussions with an Asian investor to sell Cargo at 25 North Colonnade. The building has 15 floors. Bloomberg reported that discussions had broken down due […]

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Abrdn struggles to show that everything is on track seven years after the merger of £11bn. After Stephen Bird informed a group angry money managers their bonuses wouldn’t be distributed “like peanutbutter”, the newly-in charge company decided that it would also cut back on vowels. Standard Life Aberdeen was created by a merger of Aberdeen […]

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Shell forecasts that the global demand for liquefied gas will increase by over 50% by 2040, as people switch to cleaner energy sources. The oil major’s latest energy outlook suggests that global demand will peak in 2040, with the growth of the big Asian economies countering the declines in Europe and the United States. The […]

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The Spanish parent company of one of Britain’s leading producers of reinforced Steel has put the company up for sale. Celsa Steel UK, a plant in Cardiff that supplies the Hinkley Point nuclear project in Somerset, is the biggest producer of reinforced steel in the British construction industry and also one of the nation’s top […]

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After the success of Sarah J Maas’s new book, Bloomsbury expects to “significantly exceed” market expectations in terms of profit and revenue. Publisher of Harry Potter said that they now expect annual revenue to be £291.4 and profit before taxes of £37.2, as opposed to the £274.2 and £32.9 millions it predicted in December. House […]

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Dunelm will open its first store in inner London boroughs after reporting its highest growth rate of sales in the capital in last year. Sales rose 4.5 percent to £872.5 in the 26-week period ending December 30. Volume growth was more important than price increases. Volumes increased by 6 percent thanks to gains in market […]

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Financial regulator warns City firms of the danger posed by organised criminal groups that seek to manipulate markets. It has revealed it made three arrests as part of a “major” operation. The Financial Conduct Authority announced that it worked with the National Crime Agency on 1 February to arrest three men on suspicion of insider […]

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The Bank of England governor has welcomed the “good news” about inflation but warned that it will not cut rates immediately if, as expected, prices fall to just 2 percent this spring. Andrew Bailey responded to figures that showed the annual inflation rate was unchanged in January at 4 percent, lower than the Bank’s forecast […]

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Apple’s Vision Pro has made headlines in the past month, as celebrities such as Casey Neistat (a YouTube personality) and T-Pain (a singer and songwriter) wore it out. The “passthrough” function allowed them to view their surroundings when using it. Passthrough is a feature found in the latest mixed-reality headsets. It allows users to see […]

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A supplier of parent company Volkswagen discovered a Chinese component in Porsche, Bentley, and Audi vehicles that violated laws against forced labour. Two people who are familiar with the situation say that the automaker is delaying the delivery of vehicles until the end of March to replace an electronic component which was found to be […]

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The head of Britain’s post-Brexit watchdog said that it was ready to follow Brussels and launch an investigation into Chinese firms flooding the market with electric cars. However, the government had not requested it. Oliver Griffiths, chief executive of UK’s Trade Remedies Authority, which advises on trade defense, said that the TRA was in constant […]

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The Tories’ slim chances of staying in power are at risk. has been sweeping Europe with farmers’ protests for several months. Recently, in Thessaloniki, Greece, people dumped apples and chestnuts on the street. Farmers in the country are upset that the government didn’t honour its promise to compensate for lost income following a series of […]

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After The Body Shop went into administration and put more than 2,000 job at risk, landlords are preparing for a wave closures. Aurelius, a private equity firm, put the UK branch of the ethical cosmetics brand, which has around 200 stores, into administration on February 2, just weeks after it had been purchased from its […]

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Glencore has stopped its Koniambo Nickel project in New Caledonia after investing $4 billion since 2013 without making a profit. The FTSE-100 miner and commodities dealer said that it would cease operations on the South Pacific island group located between Australia and Fiji as it sought a buyer for the 49 percent stake in the […]

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One of Britain’s largest drug companies secured a fast track review of a potentially blockbuster treatment of chronic hepatitis B. GSK announced that the US Food and Drug Administration has granted bepirovirsen an expedited approval process because it could address a medical need unmet for a life-threatening condition. Globally, the long-lasting infection is caused by […]

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A newcomer is set to enter the upper echelons of Britain’s commercial property sector after two of the country’s biggest warehouse owners agreed a multibillion-pound merger. The tie-up between Tritax Big Box and UK Commercial Property Reit is intended to create a landlord with a £6.3 billion portfolio, made up mostly of logistics depots and […]

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The Renewables Infrastructure Group has bought a British battery storage developer as it seeks to diversify into assets with the potential to deliver higher returns. The FTSE 250 group will pay £20 million for Fig Power over the next two years, half of which will fund the upfront cost of the deal, with the remainder […]

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Redx Pharma has decided to list in New York because it wants to tap into a wider and more specialized pool of investors. The latest blow for the City is that the London-listed Biotechnology Company, which has been through a turbulent time since its flotation on Aim, London Stock Exchange’s junior market in 2015, feels […]

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The logistics company of the Barclay family has been merged into the startup that purchased Tuffnells from administration last year. Yodel is one of Britain’s largest parcels delivery services. It will combine with Shift to exit the corporate empire that Sir Frederick Barclay and his late twin brother, Sir David Barclay built over the past […]

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Shareholders of Tui voted by a large majority to leave the London Stock Exchange and opt for a single listing on the German Stock Exchange. The travel company Tui Group’s shareholders at its annual meeting in Hanover voted with 98.35 percent, which is far more than the required 75%, to delist from London and retain […]

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A government-backed business whose technology can turn waste into jet fuel has been rescued in a deal in which it will be delisted from London’s Aim. Velocys had been fearing for its future when a funding round fell apart late last year, but a consortium of investors has saved it with $40 million of capital. […]

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Siemens’ decision to shift more work for London Underground from Germany to the UK will result in a much busier factory than anticipated when it begins production in spring. Siemens was awarded a £1.5 billion contract in 2018 to replace Piccadilly line rolling stock that is over 50 years old. The German engineering giant has […]

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Private equity owners at Shawbrook want to revive their plans to float the bank to boost the London Stock Exchange. Shawbrook was purchased by BC Partners and Pollen Street Capital in 2017 for £868million. Private equity firms had previously considered selling the bank or listing it on the stock market in 2022. They sought an […]

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New analysis claims that Brexit will leave a gap of nearly £100bn for UK exports each year, which would make Britain’s economy worse than if they stayed in the European Union. The UK’s decision not to remain in the EU has led to a 30 percent decrease in trade between 2020-2023 compared to if Britain […]

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Official figures reveal that local authorities in the UK, who were in dire need of cash after Liz Truss’s disastrous mini-budget of 49 days ago, took out huge 50-year loans with soaring interest rates. The government’s Debt Management Office shows that, after Truss’s Chancellor Kwasi Kwarteng announced the budget for 2022 on September 23, 24 […]

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According to a prominent music lawyer, the threat of a major copyright lawsuit looms over TikTok, because songs by Universal Music artists such as Taylor Swift and BTS are being used despite the label removing its catalogue from the website. Simon Goodbody from Bray & Krais law firm who represented Ed Sheeran and other artists, […]

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It has been revealed that the executives at Fujitsu collected around £37m as compensation, bonuses, and pay since they won the contract for the supply of the software at the center of the Post Office Horizon scam. Accounting records dating back to 25 years show that executives at the UK division, a Japanese-owned technology firm, […]

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Raspberry Pi, the computer that got children interested in computing, is now aiming for the top prize As it prepares to list in London, the hobbyist computer company Raspberry Pi may sell shares to its legion of fans. Eben Upton is the Raspberry Pi chief executive. He said that the company was considering a retail […]

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EY piled more than $700mn of extra debt on to its global operating business to deal with the costs of the failed plan to spin off its consulting arm, according to newly filed accounts. The figures, made public at the UK’s Companies House over the weekend, detail the financial impact of Project Everest, which collapsed […]

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Tod, the luxury Italian shoe and bag maker, has announced plans to become private. The deal will be with L Catterton a private equity firm backed by LVMH. This ends more than 20 years as a publicly traded company in Milan. After the announcement of the transaction late Saturday night, L Catterton will have a […]

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Chinese electric vehicle prices are tumbling, but 38-year-old Beijinger Rio Liu is loath to part with cash for the new car he badly wants for his young family. For a start, he needs to sell his current car, but second-hand prices are falling too. “This puts me in an awkward situation,” he said. Consumer prices […]

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Diamondback Energy has a deal in place to purchase Endeavor Energy Resources, a private oil producer in America, for about $25bn. This is according to sources familiar with the situation. ConocoPhilips lost out in this race to acquire one of America’s top private oil producers. The deal, which could be announced on Monday, will make […]

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As they invest in new areas like generative artificial intelligence, tech companies have cut 34,000 jobs. According to Layoffs.fyi which tracks attrition within the industry, Microsoft, Snap and PayPal each have eliminated hundreds or thousands roles since January. This year, 138 companies in the tech industry have cut staff. Losses are lower than in 2023, […]

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The Guardian’s staff is bracing for job cuts, after their bosses informed them that the publisher will make a £39million loss annually due to a slump on the digital advertising market. The Guardian’s troubles, which were revealed to its staff in a meeting hosted last week by executives, coincide with the struggles of several rivals […]

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Private equity owners are preparing Evri for a massive £2 billion sale, just two years after saddling it with debt and grabbing a £762million dividend. Advent International, an American buyout company, is working with Rothschild advisers to explore Evri’s options. This could include a possible sale of the courier for £2 billion (including debt). Advent […]

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Discover the investment potential of Pantheon Resources as driven by their expansive Alaska North Slope oil projects. Proactive’s research analyst Manos Halicioglu provides an in-depth insight and a valuation perspective on this burgeoning energy player.

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MetalNRG PLC Secures £223,000 via Convertible Loan Notes for Financial Enhancement

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Exclusive: Tucker Carlson Interviews Vladimir Putin” features an in-depth interview with the Russian President, focusing on the war in Ukraine, its historical context, and potential resolutions. Putin discusses Russia’s 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 Russia’s relationship with Ukraine and the West, highlighting accusations of US involvement in Ukraine’s coup, as well as Russia’s 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 first-ever increase in disability claims following the lockdown will see Britain’s benefits bill for working age reach £100bn this year. According to the Department for Work and Pensions’ (DWP) forecasts, the cost of welfare payments, including universal credit and housing subsidies, is expected to increase by 30pc real to £130bn at the end of […]

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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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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 Truss’s “mini” 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 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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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 world’s largest exporter is […]

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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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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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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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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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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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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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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’s long-serving chief executive vowed that the future of Britain’s 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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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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Scientists say that a breakthrough in lithium-ion batteries using small silicon particles and gel polymers could lead to electric cars capable of traveling over 1000 km (over 600 miles) on a charge. range-anxiety, or the fear of how long a battery will last in a vehicle, has been cited by drivers as one of their […]

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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 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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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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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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Industry experts have described the new Sainsbury’s 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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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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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’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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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 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 Loeb’s hedge fund Third Point. They also said they had tried to communicate with the […]

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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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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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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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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 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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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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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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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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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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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 […]

The post Companies say that high energy prices will increase their prices appeared first on Stockmark.IT.

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 […]

The post Ireland’s life sciences industry is healthy, leaving the UK sickly. appeared first on Stockmark.IT.

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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New analysis shows that Rishi Sunak’s 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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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 […]

The post UK pension trustees warn against offshore risk transfer appeared first on Stockmark.IT.

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 […]

The post Rocket Revolution threatens to undo years of European space unity appeared first on Stockmark.IT.

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 two of Britain’s largest banks to move money covertly around the globe as part of an extensive sanctions-evasion plan backed by Tehran’s 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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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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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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Pouring £400 million of taxpayers’ cash into a bankrupt satellite company in the middle of a pandemic was something of a head-scratcher for the public. But for Dominic Cummings, spending the money in June 2020 to rescue the British satellites venture OneWeb was a no-brainer. It was a symbol of the Brexit freedoms that Cummings […]

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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 Sunak’s decision […]

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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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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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Strong demand for four-door SUVs priced at £300,000. Ferrari’s profits have surpassed €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 €1.3bn, an increase of over a third from the previous year. Ferrari reported that sales were […]

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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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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’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 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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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 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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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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Mortgages requiring a 1pc down payment can increase risks for banks, and distort financial incentives for homeowners. The government is looking into plans to introduce a mortgage of 99 percent for first-time home buyers. Jeremy Hunt is considering the proposal ahead of the Budget on March 6, in order to assist people with getting onto […]

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Vodafone rejected an offer from billionaire telecoms tycoon Xavier Niel for a €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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