A start-up company that produces humanoid robotics has raised $675 millions from investors, including some of the biggest technology companies in the world. Microsoft, OpenAI, Nvidia, and Jeff Bezos the founder of Amazon all participated in the funding round that valued the Californian artificial-intelligence robotics company at $2.6 Billion. Brett Adcock started Figure in 2022 […]

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Stability AI denied accusations of copyright infringement by Getty Pictures, calling them “vague” and “general”. This is the latest conflict between a tech company and a creative firm over intellectual property. Stability, in a defense filed before the High Court, denied that Getty images available online are “highly desired” for training their artificial intelligence models, […]

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British Airways Group IAG’s financial performance is significantly better than what City analysts expected for 2023 as well as compared to 2019, the year prior to the Covid-19 travel restrictions. The group said that although business class passengers were slow to return after the pandemic the leisure market was strong, particularly among holiday travellers who […]

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Profits for the operator of Britain’s biggest and most controversial power plant have increased by more than tenfold as a result of higher energy prices. Drax’s profits before tax in 2023 will be £796m, compared to £78m a year earlier. Most of Drax’s profits were generated by its wood-burning facility in Selby (Yorkshire). Selby Plant, […]

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Ocado, amid a growing dispute over performance, has threatened to sue Marks & Spencer for a payment of multi-million pounds made as part of their online grocery partnership. Ocado Retail, the joint venture between M&S and Ocado Retail that was set up by M&S in 2019 has not met the goals laid down when M&S […]

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Morgan Stanley’s executive who is at the heart of the legal dispute with Mike Ashley said that he didn’t want to do any business with Ashley because he was worried it would harm the bank’s reputation. Simon Smith has denied having a personal animosity towards the Frasers Group owner, but admitted that he was “concerned” […]

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The goal of role reductions is to create cash that can be spent on luring customers back from competitors. Sainsbury’s plans to reduce costs by £1bn will see 1,500 jobs cut. The supermarket chain will simplify its operations by reducing the number of staff in bakeries, call centres, warehouses, and head office. Sainsbury’s is trying […]

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Jeremy Hunt has cancelled plans for a scheme which would have allowed first-time home buyers to enter the housing market with a 1pc down payment, only days after it was revealed that the Treasury had considered the move. Treasury insiders say the Chancellor has abandoned the taxpayer-backed plan ahead of next week’s Budget following a […]

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Polestar, a struggling luxury car brand in Sweden, has been given a funding lifeline of $950m (£750m), after Volvo dropped its support. The company, which is known as “the Tesla of Europe”, announced on Wednesday that it had received a three-year loan through a consortium of twelve banks, including HSBC Standard Chartered, BNP Paribas and […]

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If he wins the election, the PM will pledge to keep the Tory Party’s manifesto. If Rishi Sunak wins the next elections, he will keep the triple lock on pensions. This will make sure that payments keep pace with the cost of living for millions of people in the UK until the end of this […]

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Swisscom and Vodafone are in exclusive negotiations to sell their struggling Italian business to each other for €8 billion. The telecoms group has confirmed that it has held “extensive” talks with “several different parties” in order to consolidate the business in Italy. It concluded that, after these events, the cash deal with Swisscom was the […]

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St James’s Place, Britain’s largest wealth manager, revealed that it would be taking a £426million hit to cover refunds for aggrieved clients. The shares of the FTSE100 company fell by 115 1/4p or 18.6 percent, closing at 505 3/4p. They had dropped earlier by up to 33 per cent after the group revealed the unexpected […]

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Aston Martin Lagonda will have to wait a little longer to reach profitability and an electrified future after it revealed it missed its production targets, which were already revised downwards, for 2023. Lawrence Stroll, the executive chairman of the company and a significant shareholder, said that it was “substantially on track” to achieve its financial […]

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Bitcoin is back over $60,000 for the first two years. This comes amid renewed enthusiasm for the most popular cryptocurrency in the world. The jump was a second sharp turn in the digital coin’s value, which had fallen below $16,000 by November 2022 due to a series of scandals and aggressive rate increases. The latest […]

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Just Eat Takeaway.com’s share price and mood were not lifted by the delivery of jam today or the promise that more would be delivered tomorrow or later this year. Europe’s largest food delivery group has reported a massive jump in earnings before deductions, from €19million in 2022 to €324million. This is slightly above its previous […]

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Skipton Building Society said that a pioneering mortgage product, which does not require borrowers to make a deposit, attracted applications totalling £62 million during its first nine-month period. Stuart Haire, 49 years old, a former HSBC Banker, who will be joining Skipton Group in December 2022 as its Chief Executive, launched Track Record in May […]

The post Skipton’s No-Deposit Mortgage attracts 500 borrowers appeared first on Stockmark.IT.

Rolls-Royce has a habit of occupying the top spot in the FTSE 100 leaderboard. Today was no different, after some bullish remarks from Deutsche Bank. According to Christophe Menard of the German bank, the engine maker’s results showed that its restructuring plan is “starting” to deliver. The group that makes engines for long haul passenger […]

The post Rolls-Royce is at the top of Footsie leaderboard appeared first on Stockmark.IT.

Jeremy Hunt has prepared an emergency Budget plan to scrap or reduce Britain’s non-dom tax rules in the event he needed to raise billions to fund pre-election mass-market tax cuts. Treasury insiders say the chancellor is working on a “secret list” of revenue-raising projects for the exchequer as he seeks ways to fund reductions in […]

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Analysis finds that UK faces a ‘crunch-point’ due to delays at Hinkley Point C and the closure of other nuclear plants. New research warns that delays to French-built nuclear reactors will put the UK at risk of blackouts in 2028. The country will face a “crunch” point due to a “perfect storm” of higher demand […]

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Dubai has begun discussions to finance the construction of two Orient Express Superyachts, as oil-rich Middle Eastern countries seek to diversify their energy sources away from fossil fuels. Dubai Holding, the investment vehicle of Emirati ruler Sheikh Mohammed Bin Rashid al Maktoum, has been in talks with French hotel group Accor about financing the €800m […]

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BAE Systems is no longer a pariah, but a saviour to many investors. The latest call for more material by President Zelensky, at the second anniversary, has brought the spotlight back on arms manufacturers. BAE Systems’ announcement of its positive annual results last week, which included a wide range of weapons, including Eurofighter Typhoon Jets, […]

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Scott Poole has been selling his company’s products on Amazon for 15 years. The partnership helped him grow the business so that it now makes up to £4million in annual sales. He said, “We had a great relationship.” “Until January.” The 53-year old has been planning a legal action in order to recover almost £60,000 […]

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Smith & Nephew’s revival is taking hold, according to the chief executive of the FTSE 100 medical products maker after it posted better-than expected fourth-quarter financial results. The underlying revenue increased by 6.4 percent to $1.46 Billion in the last three months. This brings the revenue for the entire year up by 7.2 percent to […]

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EasyJet will return to the FTSE 100 index next week, almost four years after the airline dropped out during the pandemic. Since mid-October, the share price of this airliner has increased by over half as a result of higher demand, higher prices and lower fuel prices. The company, in a trading update covering the last […]

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The first drop in food prices since September has occurred this month, providing further evidence that inflationary pressures will continue to ease throughout the year. According to NielsenIQ and the British Retail Consortium’s latest index of shop price inflation, food prices dropped by 0.1 percent in February. Food inflation on an annual basis fell to […]

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Ministers called on the EU to increase the funding of the €60bn subsidy scheme for the Common Agricultural Policy in an effort to calm protests after Belgian farmers blocked roads and lit tyres on fire in central Brussels. The CAP is designed to guarantee food production by providing a stable income stream to farmers. It […]

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Barclays agreed to sell credit card debt worth approximately $1.1bn to Blackstone as it stepped up its efforts to remove assets from its balance sheet ahead of new regulations. This deal shows how private capital groups, such as Blackstone, which face fewer restrictions that banks do, are entering mainstream debt markets in order to relieve […]

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Shein will consider London as a backup option for a massive flotation if US authorities block its preferred choice of a New York IPO due to its ties with China. The Singapore-headquartered company has pitched the UK as an alternative destination if it is unable to list in the US, according to two investors in […]

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The shares of US biotech Viking Therapeutics have more than doubled since trial results for its weight-loss drug beat existing treatments from Novo Nordisk & Eli Lilly. In a mid-stage 13-week trial, Viking reported that its weight-loss medication had resulted in “statistically-significant reductions in weight”, with a 13% weight loss compared to a control. The […]

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Apple has canceled its plans to build an electric vehicle as it shifts research funding to generative artificial intelligence. This is according to a source familiar with the situation. Apple’s project for electric vehicles, also known as “Project Titan”, was an attempt to diversify its product line beyond the iPhone. The iPhone still accounts for […]

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Thames Water wants to avoid having to pay billions of pounds in taxpayer bailouts. It is lobbying government officials and the industry regulator Ofwat for permission to increase its bills, pay dividends, and lower fines. The government’s Special Administration Regime could lead to the takeover of Britain’s biggest water monopoly, leaving taxpayers on the hook. […]

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In this episode, Share Talk's Zak Mir sits down with Nick Cowan, CEO of Valereum Plc, to explore the company’s recent milestones, including the acquisition of the Gibraltar Stock Exchange (GSX) and the formation of a new entity. The discussion centers on how these developments contribute to value creation for stakeholders and the strategic roadmap ahead.

The post Valereum Plc – Revolutionizing Financial Markets: Tokenization, Tech Advancements, and Value Generation appeared first on Stockmark.IT.

Morrisons is looking to sell assets in order to reduce debts. The Bradford-based retailer has teamed up with Deloitte in order to attract interest in Rathbones Bakery, a Wakefield factory that provides baked goods to Morrisons supermarkets. Rathbones is still in the early stages of discussions and there’s no guarantee that it will be sold. […]

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Lutz Schuler warns that tie-ups can leave rivals with patchier links The merger of Vodafone and Three, worth £15bn, could leave rivals with patchier internet connections unless the market power of their competitors is curbed. This was suggested by Virgin Media O2. Lutz Schuler warned that the merger would give the combined company a too […]

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BYD, a Chinese startup, hopes Yangwang U9 can compete with Ferrari and Lamborghini BYD launched an electric supercar capable of reaching 60 miles per hour in less than three seconds. The Chinese startup is aiming to compete with luxury brands like Ferrari and Lamborghini. Yangwang U9 is a Tesla rival that will be sold in […]

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After talks with several potential buyers, Homebase may soon be sold. Hilco Capital is said to have had discussions with several parties including The Range, B&M European Value Retail and discount retailers. Homebase, the brand name and intellectual property of 170 stores in the UK and Ireland may be sold to a new owner. One […]

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The competition regulator will be launching a new investigation into eight of Britain’s largest housebuilders amid fears that they may have been working together to limit supply and keep prices high. The Competition and Markets Authority has found evidence that suggests that developers are sharing “commercially sensitive” information. It is concerned that this could influence […]

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The Federal Trade Commission filed a lawsuit to stop Kroger from acquiring Albertsons. This would be the largest supermarket merger ever in US history, and is the latest example of Washington’s anti-competitive crackdown. The FTC on Monday contested the $24.6bn purchase . It claimed that the deal would eliminate competition, increase grocery prices, and harm […]

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Microsoft has signed a deal to expand its presence in the rapidly growing artificial intelligence industry beyond OpenAI. Brad Smith, Microsoft’s president, announced a “multi-year partnership” with Paris-based Mistral Monday to help the 10-month old company bring its AI models on to the market. The deal was first announced by Mistral. Microsoft has said that […]

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The Russian invasion of Ukraine has redrawn the geopolitical landscape. The Hungarian parliament approved Stockholm’s application on Monday, and it could become the 32nd member in the military alliance as early as Friday. Ulf Kristersson said that today is a historic moment, noting all Nato parliaments had voted for Sweden’s membership. “Sweden is ready to […]

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Water cooling in data centres has increased dramatically for the world’s largest technology companies, causing concern over the impact on the environment of the artificial intelligence boom. Microsoft, Google, and Meta have increased their water consumption in recent years. Millions of users are hooked on their online service. The academics believe that AI demands will […]

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Nvidia, the US chipmaker, has a market capitalization of $2tn as it capitalizes on artificial intelligence boom. The company has already surpassed Alphabet (the owner of Google, YouTube and Amazon) and Amazon to become the third-largest in America. Another blockbuster earning report, in which Nvidia exceeded Wall Street’s expectation with a 265% increase in sales, […]

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If “draconian rules” are imposed to stop shoppers from confusing plant-based dairy products with real dairy ones, Dairy Alternatives such as I Can’t Believe It’s Not Butter or Alpro’s This Is Not M*lk will have to change their name. The Plant-based Food Alliance UK will make a final appeal to the Environment Secretary next week […]

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The reputation of the Australian businessman accused of intentionally ignoring tax laws in Australia has been further damaged. He faces a tax bill nearing £8 million. The allegations against Australian David Collard have raised further questions about the decision of EY to select him as the preferred purchaser for the now-defunct battery manufacturer when it […]

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Summer holidays are just a few months away for millions of sun-starved Britons. Many Britons will be flying to sunspots in the Mediterranean on single-aisle aircraft, the workhorses that make up the modern aviation fleet. Rolls-Royce is one of the largest jet engine manufacturers in the world. It’s not because they don’t want to people […]

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HSBC has notified investors that it will be increasing the bonuses for its senior directors including Noel Quinn as chief executive. This is the latest indication that FTSE 100 firms are worried about their ability compete with international pay rates, especially in America. The largest bank in Britain has informed shareholders that they will spend […]

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Apple is being pressed by two of Britain’s largest fund managers to provide more information about its ethical policies when using AI. Their concerns range from the use of AI to create fakes and deep ones to customer privacy. Legal & General Investment Management and Abrdn are rebelling against Apple’s management at the annual meeting […]

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Harvey Jones is not likely to be able to provide you with a new, upscale kitchen for a long time. The Body Shop will no longer be the best place to buy ethically sourced creams. Burberry issued a profit warning while John Lewis closed stores and cut prices in its Waitrose chain. Each company’s problems […]

The post In a high-tax Britain, the middle-class favorites are first to go. appeared first on Stockmark.IT.

On January 24th 2024 Pantheon Resources PLC held a post-AGM investor presentation, providing insights into their ongoing projects and future plans. Here's a breakdown of some key highlights from the discussion points

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BAE Systems is expected to make a profit of £3 billion this year, as the wars in Ukraine and the Middle East are boosting the company’s coffers. The company, which builds the UK’s nuclear submarine fleet, squadrons of fighter planes, and produces missiles, shells, and bullets, has reported sales that were 9 percent higher than […]

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Heathrow has finally returned to profitability and promises that it will transport more passengers in 2024 than ever before. This follows the pandemic and billions of pounds in losses as well as a bitter dispute with its airline clients. Heathrow has made a profit in 2023 of £38million after the long haul from empty terminals […]

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Anglo American’s net profit fell by 94 percent to $283 millions last year due to lower metal and diamond prices. The FTSE-100 miner suffered a disastrous year, as markets for PGMs and diamonds collapsed. It also unexpectedly lowered its copper production forecast. The underlying earnings before interest taxes and other items dropped to $9.96billion from […]

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The sales of activewear brand Gymshark have increased by 20 percent compared to last year. This is ahead of the projected 15-percent increase in revenue, which will reach £556 millions in 2023. Ben Francis, a 31-year-old Solihull businessman, has just filed accounts that show profits before taxes for the fiscal year ending in July last […]

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The administrators of the Britishvolt project, which was canceled due to financial problems, have stated that they are still trying to collect money from the Australian purchaser and are looking at other possible deals. According to EY, Recharge Industries remains “in default” one year after agreeing to purchase the site in Cambois (Northumberland) where Britishvolt […]

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Hargreaves Lansdown said it would reduce its interest share from the balances of customers to avoid a regulatory crackdown. However, it did not indicate that it would be making a big sacrifice. The concessions on cash windfalls were made when Britain’s largest investment platform reported declining new customer numbers as well as a slowdown of […]

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Japan’s stock exchange reached its highest level ever, surpassing that of the late 1980s bubble economy and marking a symbolical recovery after 34 years of stagnation. The Nikkei Average of the top 225 Japanese companies closed on 39,098, an increase of 2.2%, surpassing the previous high of 38,915 reached on the last day of trading […]

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The scandal over mis-sold car finance is intensifying after Lloyds Banking Group put aside £450m to cover possible costs and compensation. Lloyds is the first of the major motor finance companies to provide a contribution for the Financial Conduct Authority inquiry into car loans. This is likely to fuel speculation about the industry’s potential for […]

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Rolls-Royce’s turnaround has been hailed as the fastest in British corporate history. Tufan Erginbilgic has been the chief executive for nearly 14 months. He also promises to increase profits and cash flows every year over the next four. The company that makes engines for long haul passenger jets, and nucleo-propulsion for the Royal Navy submarine […]

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The American stock market closed Thursday night at a record high, thanks to strong results from Nvidia Corporation as well as a forecast for huge demand for the company’s industry-leading artificial Intelligence chips. The S&P 500 index, which is widely considered a barometer for the health of American corporations, closed at 5,087.03, a record high. […]

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The latest blow to London as a financial hub is the plan to relocate the primary listing of one of the largest anti-opioid companies in the world to the United States. Indivior, a FTSE 250 pharmaceuticals firm that specializes in treating substance abuse disorders and mental illnesses, will consult its shareholders this summer about the […]

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The global debt reached a new record of $313 trillion, or £248 trillion. This is due to higher interest rates that drive up borrowing costs. According to the Institute for International Finance (IIF), borrowers took on $15 trillion more in 2023. This means that the world’s total debt is up by over $100 trillion since […]

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Dominic Raab warned that unless Western governments are able to break China’s stranglehold on critical minerals required for the green energy transformation, households will face higher bills. Former foreign secretary and deputy prime minister Rishi Sunak said Beijing’s efforts to dominate the materials that are used to manufacture wind turbines, panels for solar energy, and […]

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Rio Tinto warned that costs at its iron ore mine would rise more than expected this year due to wage and part inflation. Anglo-Australian said unit costs for the Pilbara Mine in Australia, the place where the group makes most of its profits, will increase between $21.75 to $23.50 per metric tonne. This is at […]

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The architect for the Post Office Tower, who was worried that his building would be deemed ugly by people, was thrilled to find an empty spot near Tottenham Court Road. Eric Bedford stated that central London was the “one place that amenity people couldn’t defend on the basis of architectural beauty”. Thomas Heatherwick is the […]

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Scientists have found a link between high levels of antiviral proteins and long Covid. This will help to improve efforts to diagnose the condition, which is debilitating for millions of people worldwide. researchers reported on Wednesday that patients had persistently high levels of interferon-gamma, which is linked to fatigue, sore muscles, and depression. Researchers have […]

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The companies have announced that Intel, a US chip manufacturer, will produce high-end semiconductors exclusively for Microsoft. Intel is competing with TSMC, Samsung and other suppliers to provide the next generation silicon for artificial intelligence. Pat Gelsinger, Intel’s chief executive, said on Wednesday at an event that the company is “rebuilding western manufacturing at large […]

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HSBC shares fell to their lowest level since 2020, after the bank announced a 80% drop in its quarterly profit. It also took a $3bn hit on the value of a stake it holds in a Chinese Bank. HSBC announced on Wednesday that the pre-tax profit for the last three months of 2023 was $1bn, […]

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Nvidia’s shares surged on Wednesday night, after the company announced a 265 percent increase in quarterly revenues and forecasted even higher sales due to an artificial intelligence spending frenzy. The fourth quarter revenues were $22.1bn, which was far more than Wall Street’s expectations of $20.4bn. Nvidia stated that it expects revenues to be $24 billion […]

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Monzo, the British digital bank, is close to a new funding round that will value it at around £4bn. This would be a sign that investors are confident in the company’s expansion. People said that the UK fintech may finalise an agreement within the next two week to raise up to £350mn in a mix […]

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Vertical Aerospace in Britain, the pioneer of flying taxis, has received another £8m from the government. This brings its total taxpayer support to £37m, as it attempts to get its electric plane off the ground. The company claimed that the funding for the development of propellers for the electric vertical takeoff and landing (eVtol), aircraft, […]

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Currys’ top investor cautioned that international companies will start looking closely at London businesses, following a bidding war involving the electronics retailer. Redwheel, which owns 14.6pc shares in Currys said that it was “completely in agreement” with the board of directors over their decision to refuse a takeover bid from US hedge fund Elliott. It […]

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The Bank of England’s governor, Mark Carney, stated that the bank might start lowering interest rates before inflation hits its 2 percent goal.He cited “encouraging” signs of a easing of price pressures. Andrew Bailey, speaking to the Treasury Select Committee, said that inflation in the UK has decreased quickly and that the technical recession the […]

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Walmart will buy Vizio for $2.3 billion. This comes after surpassing sales expectations and announcing the largest dividend increase in over ten years. The largest retailer in the world increased its dividends by 9 percent to 83 cents per share, marking its 51st consecutive year of dividend increases. Walmart’s revenue in the three months ending […]

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A US investment firm has started talks about a possible takeover of Superdry. The struggling high-street fashion chain is in dire need of a new owner. City investors reacted positively to the news that Superdry would be removed from the stock exchange and turned into a private company.Shares of Superdry rose sharply from 39 1/2p […]

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Alliance Trust raised its yearly dividend for the 57th consecutive year due to improved investments in the technology and financial service sectors. The investment trust announced a payment of 6.34p per share for the fourth quarter last year. This brought the total payment for 2023 up to 25,2p, a 5 percent increase over the previous […]

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National Express’ owner had to postpone the release of the company’s annual accounts because the auditor needs additional time to review “accounting judgements”. Deloitte had originally planned to release Mobico’s 2023 results the following week. However, Deloitte is still awaiting Deloitte’s approval, primarily due to questions about accounting in its German rail division. Deloitte has […]

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The Body Shop will close nearly half of its 198 stores in the UK. Its head office staffing will be reduced significantly, resulting in hundreds of job cuts. The company managing the restructuring stated that the current store portfolio of the beauty chain was not viable and confirmed the immediate closure of seven branches. Tuesday […]

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Barclays’ chief executive has revealed a plan for reviving the bank’s share price, which is currently in decline. The plan is to invest £30 billion in Britain in order to stimulate growth and deliver £10 billion to shareholders over three years. This is a crucial moment for Coimbatore Sundararajan Venkatakrishnan. He took over the lender’s […]

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Jensen Huang told a conference in Dubai last week: “This is the beginning of a new industrial revolution. This is about the production, not of energy, not of food, but of intelligence. Every country should produce their own intelligence. Crucially, Nvidia, the Taiwanese-born billionaire’s company, has positioned itself at the heart of this “revolution”. It […]

The post Nvidia’s results put talk of tech bubble at centre stage appeared first on Stockmark.IT.

The Bank of England’s ex-chief economist has cautioned policymakers about the risk of damaging the economy by maintaining high interest rates for an extended period. Andy Haldane, who was chief economist for seven years until 2021, said the Bank’s ratesetting monetary policy committee risked further eroding its reputation if it delivered unnecessary damage to the […]

The post Interest rate policy may ‘crush’ recovery, ex-central banker warns appeared first on Stockmark.IT.

AstraZeneca announced on Monday that its top drug has shown promising results in treating early-stage lung cancer by slowing down the progression of the disease. The company announced that its Tagrisso drug, which is a best-seller, demonstrated a significant and meaningful improvement in preventing the progression of a certain type of the most common form […]

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S&P Global, a financial data company, is close to acquiring research platform Visible Alpha. The deal values Visible Alpha at over $500 million and includes investment banks Goldman Sachs, Jefferies, and UBS.S&P, best known for its rating agency business and stock market indices, could announce a deal for Visible Alpha as soon as Tuesday, the […]

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US lender Capital One has agreed to buy rival Discover Financial for $35.3bn, in an all-stock tie-up that is set to unite two of America’s largest credit card companies. Capital One’s acquisition of Discover values its smaller rival’s stock 27 per cent above Friday’s closing price. Under the terms of the deal, Discover shareholders would […]

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Vladimir Putin was effusive late last year after Gazprom reported record sales to China, telling chief executive and longtime ally Alexei Miller: “This is great, I congratulate you on the results of your work.” But the Russian president’s praise, proudly trumpeted on state media, belies the crisis unfolding at a company that is struggling with […]

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Pension funds are piling into UK corporate bonds, encouraging some French and German companies to issue sterling debt for the first time. The UK’s £1.4tn “defined benefit” pensions industry has been switching to corporate debt for its higher yields and to prepare the schemes for potential sales to insurers, analysts said. The share of European […]

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Solar panel manufacturers in Europe and the US have warned against excluding Chinese companies from renewable energy supply chains. China dominates the solar manufacturing industry, with more than 80 percent of global production, following decades of state-sponsored deep support, rapid growth in domestic demand and fierce local competition. Western political and industrial leaders have called […]

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Scientists are predicting the beginning of a “golden age” in energy for a resource that was previously overlooked — naturally occurring hydrogen. According to a study unpublished by the US Geological Survey, underground reservoirs around the world contain up to 5tn tonnes hydrogen. Geoffrey Ellis, the project leader, said that he was looking forward to […]

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US natural gas prices are at their lowest in nearly three decades as the country prepares for its warmest winter ever, which will reduce demand while production reaches record levels. Analysts said that this winter, the months when gas demand is at its highest, will be one of the mildest on record since reliable records […]

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Five people who have direct knowledge of this long-running investigation claim that Brussels will impose the first fine ever on Apple for allegedly violating EU law regarding access to its streaming music services. The fine is estimated to be in the range of €500mn, and will likely be announced at the beginning of next month. […]

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A US private equity fund launched an auction for Village Hotels, the UK’s largest mid-market chain. The sale is expected to reach £800 million. Sources in City say that advisors to KSL Capital Partners are marketing Village through “teaser documents” they have shared with interested parties. Morgan Stanley was chosen by KSL in Denver to […]

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Christian Scherer, Airbus’s chief executive officer, has pioneering in his blood. Christian Scherer, the man who runs the world’s largest aircraft manufacturer, was only ten years old when he saw his father fly Airbus’s very first aircraft in its maiden flight over Toulouse on October 28th 1972. It is not surprising that the 61 year […]

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George Adnams and his brother Ernest bought the Sole Bay Brewery at Southwold in Suffolk in 1872. But his brewing career only lasted two years. George Adnams, who was a bit of a free-spirited individual, left his brother in charge of the brewery and emigrated to South Africa. He later died there after being eaten […]

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Last week, official figures revealed that the UK had entered a “technical recession” in the second half last year. The drop in Gross Domestic Product (GDP) was 0.3 percent in the fourth quarter after a 0.1 percent fall in the third. There’s much more than the GDP number can tell us about the current state […]

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Barclays will give its shareholders up to £9 billion in the next three year as part of its turnaround plan, which its chief executive is set to unveil on Tuesday. C S Venkatakrishnan (Venkat) is under pressure to increase the share price of Barclays. He is being asked to assuage investor concerns about Barclays’ huge […]

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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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