Kavango Resources, a mining exploration company, has taken significant strides in its journey towards becoming a prominent player in the industry. Through strategic acquisitions, diversification, and a robust financial backing, the company is well-positioned to capitalize on the favorable market conditions for both gold and copper.

The post Kavango Resources: Leading the Path to Expansion and Exploration appeared first on Stockmark.IT.

A prototype built on Earth has helped a company that hopes to launch the world’s first solar farm in space reach a crucial milestone. Space Solar, based in Oxfordshire, plans to power over a million homes with a mile-wide array of mirrors and panels orbiting at 22,000 miles above Earth by 2030. The system must […]

The post The UK’s first prototype could pave way for energy that is available all the time, even from space appeared first on Stockmark.IT.

Official figures show that the demand for electric cars has dropped sharply, as drivers have shifted to petrol and hybrid vehicles. According to the Society of Motor Manufacturers and Traders, (SMMT), last month saw a decline in the market share of electric cars (EVs). In March, the month that is usually the busiest for car […]

The post The electric car market is stalling as consumers choose petrol vehicles appeared first on Stockmark.IT.

The financial crisis that has engulfed Thames Water is largely due to two Chinese state-owned banks. Bank of China and Industrial and Commercial Bank of China were among the lenders who backed a £190-million loan that Kemble Water Finance took out, the parent company of Britain’s largest water provider. Kemble is supposed to repay this […]

The post Thames Water owes millions of dollars to Chinese state-backed bank appeared first on Stockmark.IT.

Calastone, a data specialist, says that British investors are choosing to invest in US-listed companies over UK stocks. Investors withdrawn a net £823million from UK funds in February, the highest amount since last February. This was the 34th consecutive negative month for UK funds. In the first quarter of this year, PS2.1billion was taken from […]

The post UK investors take advantage of Wall Street bull market appeared first on Stockmark.IT.

As tensions in the Middle East escalated, oil prices rose to above $90 per barrel. US stocks also fell. Brent crude and futures both rose by 1.5 percent on Thursday, reaching $90.65 per barrel. This is the highest price since October. Traders were weighing the possibility of Iran’s reaction to a suspected Israeli strike on […]

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Scientists have called on countries to overhaul prostate cancer testing in order to focus more attention on vulnerable groups. New research predicts that global deaths due this disease will nearly double within 20 years. According to a study published on Thursday, low- and middle-income nations need to be prepared to prevent a dramatic rise in […]

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Hedge funds are swooping on the UK’s £200bn Investment Trust sector, which is being shunned and undercut by cheaper competitors. Investment Trusts have been a cornerstone in UK equity markets for more than 100 years. They are now facing the worst capital raising year they’ve had in 10 years. hedge fund, including Paul Singer’s Elliott […]

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According to the boss of one of London’s largest independent investment banks, the capital markets will be “dead”, if current trends continue. Peel Hunt’s chief executive Steven Fine said that the London market for initial public offering was moribund and there were no signs of revival. He said, “Our industry is a hollowed-out shell in […]

The post London Market Outlook is bleak according to a banker who deals with British mid-caps appeared first on Stockmark.IT.

A survey shows that retail sales have fallen for the past six months and then again in March. This is the longest run of declines outside the Covid-19 pandemic. The survey conducted by BDO, an independent consultancy, revealed that total in-store and internet sales dropped by 2.2% last month. This is the sixth consecutive month […]

The post Retailers suffer longest dip in sales since Covid pandemic appeared first on Stockmark.IT.

Britain’s Competition Watchdog has officially requested an in-depth probe of the planned £18 billion merger between Vodafone UK & Three. The companies failed to submit any “meaningful” solutions that could have alleviated competition concerns within the deadline required. As a result, the Competition and Markets Authority will continue its phase two review of this proposed […]

The post The merger of Vodafone and Three is being investigated in depth by the Competition Commission appeared first on Stockmark.IT.

Virgin Atlantic, which almost died during the pandemic in 2009, says that it will achieve record profits this year when passenger numbers return to pre-Covid levels. The Heathrow carrier, owned by Virgin Group of Sir Richard Branson and Delta Air Lines in the US, returned to profitability by 2023, but the heavy debts it had […]

The post Virgin Atlantic: we’ll soar new heights in 2019 appeared first on Stockmark.IT.

Rolls-Royce has started flight testing on its most powerful and environmentally friendly business jet engine. The Pearl 10X is a new engine developed specifically for the Dassault Falcon 10X. This aircraft will be in service by 2027. Rolls is building engines for Dassault’s business aircraft, previously powered by Pratt & Whitney. GE, and Honeywell. Rolls […]

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Microsoft is now selling Teams, its online meetings service, as a separate product from its Office suite, after being scrutinized by competition regulators. The technology group split Teams and Office in Europe six months ago to try and avoid an EU fine. Now it will do the same thing worldwide. Teams, which Office 365 added […]

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Domino’s has pledged to reduce the calories in its products, just weeks after an ex-health minister criticized the fast food chain over selling Creme Egg cookies. Pizza chain with more than 1,300 outlets in the UK has announced plans to reduce sodium, fat, and sugar levels on its menu to address public health concerns. Lord […]

The post Domino’s vows to reduce the calories in its food following creme egg cookie backlash appeared first on Stockmark.IT.

Amazon has scrapped its “just walk-out” technology after trying for years to get traction with its checkout-free offering. The decision was made on Tuesday to abandon the technology in grocery stores, but the change will not be applicable to UK outlets. Since its launch in 2016, this system allows customers to purchase items, leave the […]

The post Amazon eliminates the ‘just walk-out’ checkouts in grocery stores appeared first on Stockmark.IT.

The consortium, which includes Justin King, former CEO of J Sainsbury and other high-net worth individuals, has raised £50million to acquire premium restaurants. Hestia Hospitality – named after the Greek Goddess of Home and Hospitality – has closed three small deals, but is “in heads of terms” with two larger businesses. It aims to reach […]

The post Justin King invests £50m in hospitality companies appeared first on Stockmark.IT.

The government has accused a group of companies of “breach” of the scheme rules after they received £9million in taxpayer funding through Rishi Sunak’s Future Fund. Administrators have announced that several businesses owned by Nova Group Holdings – a new investment group supported by Sir Terry Leahy – are now “insolvent”, after the British Business […]

The post The group led by Sir Terry Leahy collapses, owing £9m in tax payers appeared first on Stockmark.IT.

The trading of shares in one of Britain’s largest bar operators was suspended Tuesday, as the company sought to raise emergency funds backed by serial investor Luke Johnson. Revolution Bars Group said that it was unable to comply with the requirements of Aim junior stock exchange to publish interim results before the deadline on Saturday. […]

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Tesla reported its first quarterly drop in deliveries in almost four years. The company also missed Wall Street’s estimates. This is a sign the price reductions are no longer having the desired effect as it battles increased competition and weaker consumer demand. Elon Musk has led the company since 2008. The company delivered 386.810 electric […]

The post Tesla sales drop for the first time in 4 years appeared first on Stockmark.IT.

The winter storage of natural gas has reached record levels in Europe, which puts the region in an excellent position to overcome the energy crisis that has dominated the continent for over two years. Gas Infrastructure Europe, the industry’s trade association, reported that the EU gas storage at the end March, which is considered by […]

The post Gas storage in the EU reaches record levels as winter ends appeared first on Stockmark.IT.

A US hedge-fund raised $100mn for trading based on articles from its affiliated newsroom. This is a new experiment to fund investigative reporting at a time when the media industry is suffering a new round of layoffs. The venture is an attempt to combine the investigative journalism that newsrooms are known for with a long/short […]

The post The news-driven hedge fund raises 100 million dollars to trade on journalists’ scoops appeared first on Stockmark.IT.

Scientists have discovered that paralyzed patients can recover movement and feeling by being injected stem cell derived from their own fat. Researchers have found that people who suffered severe injuries in car accidents or after falls can show a variety of improvements. Treatment involves removing fat from the abdomen and thighs and then removing mesenchymal […]

The post A stem cell trial found that paralysed patients can regain sensation and movement. appeared first on Stockmark.IT.

The US state legislatures are trying to stop the development of “lab grown” pork, tuna and other animal protein products. They’re taking a stand in opposition to a new food technology that is backed by investors like Jeff Bezos and Bill Gates. Since the start of the year, Republicans have introduced legislation in at least […]

The post In Republican states, the movement to ban lab-grown beef intensifies appeared first on Stockmark.IT.

Two influential shareholders advisers have labelled AstraZeneca’s plan to pay CEO Pascal Soriot as much as £18.7mn “excessive”. They said his remuneration is already competitive with international peers. Last month, the drugmaker announced its proposed pay for Soriot. He will have to meet a number of targets including new drug approvals and earnings per share, […]

The post AstraZeneca shareholders are urged to oppose the pay plan for CEO Soriot appeared first on Stockmark.IT.

Chinese tea buyers have disrupted a heated trade dispute between Nepal and India, which has led to the introduction of counterfeit Darjeeling tea into teapots that were not expecting it. Indian tea estates are under pressure because of a flood of cheaper Nepalese Tea that traders are happy to repackage and sell as Darjeeling – […]

The post China gets involved in tea wars brewing up in the Himalayas appeared first on Stockmark.IT.

Shein, an online fast-fashion company, has seen its profit more than double as it waits for Beijing’s approval to list its blockbuster in New York or London. Shein has recorded a record profit of over $2bn for 2023. The company’s website sold products worth $45bn. Four people who are close to the firm confirmed this. […]

The post Shein profits more than double to $2bn before planned listing appeared first on Stockmark.IT.

As Paddy Power prepares to move its primary listing to New York, the Paddy Power owner wants to convert its rapidly growing US customer base to shareholders. In January, the company, which has the largest market share of FanDuel in the US as well, listed their ordinary shares at the New York Stock Exchange in […]

The post Flutter, the owner of Paddy Power, hopes that the US listing will attract retail investors appeared first on Stockmark.IT.

The former head of Sequoia Capital’s India unit said that the country was getting a “huge” boost as investors moved their money from China, as geopolitical conflicts reshaped the global venture capital markets. Shailendra Singh is the managing director of Peak XV. One of Asia’s largest tech investors, with $9bn of assets under management. He […]

The post Sequoia’s Indian former arm benefits from investors who move money out of China appeared first on Stockmark.IT.

The head of Germany’s biggest military contractor Rheinmetall has called on European countries to abandon their preference for national champions in favour of building larger, more specialised defense groups to compete against US rivals. Armin Papperger said in an article that countries need to specialize in different types military technology if they want a closer […]

The post Rheinmetall Chief urges Europe to develop defence technology champions appeared first on Stockmark.IT.

In 2023, Rothschild Bankers who worked for the Zambian government were nearing completion of a shortlist for buyers of a valuable copper mine. Mopani is a rare but troubled asset that was once owned by the resources giant Glencore. It has attracted offers of hundreds of millions from major mining companies eager to access a […]

The post How Gulf States are investing their money in mining appeared first on Stockmark.IT.

Hong Kong is losing out to competitors in south-east Asia and mainland China in terms of seaborne cargo volume. Drewry, a maritime consultancy, says that the container throughput in Hong Kong dropped 14 percent last year and reached 14,3mn Twenty-foot Equivalent Units (TEUs). The biggest drop in percentage among the world’s largest ports was last […]

The post Hong Kong’s port is losing ground as exporters shift to mainland China appeared first on Stockmark.IT.

According to Sir Demis Hassabis of DeepMind, the surge in money flowing into artificial intelligence is creating a crypto-like buzz that obscures the amazing scientific progress made in the field. The head of Google’s AI division said that billions of dollars are being invested in generative AI startups and products. “This brings with it a […]

The post Demis Hassabis, DeepMind CEO, warns that huge AI funding can lead to grifting and hype. appeared first on Stockmark.IT.

A report warns that automation could lead to the loss of 8 million UK jobs. This is a “jobs-apocalypse” for women, young workers, and those with lower wages. According to the Institute for Public Policy Research, AI could replace entry-level, part-time or administrative jobs in a worst-case scenario for the introduction of new technologies over […]

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If the grocery store can break free from its UK roots, a lucrative future awaits. Tim Steiner, Ocado’s chief executive officer, praised the £750m partnership with Marks & Spencer as a win-win for both parties. He said that M&S took an “incredibly intelligent risk” in partnering with online grocery store, and that “it’s nothing like […]

The post Why Ocado could become a tech giant if it is listed in New York appeared first on Stockmark.IT.

Morrisons reported widening losses for the first quarter, after being weighed down with debt financing costs related to its private equity acquisition. The supermarket chain reported pre-tax losses in the amount of £156m for the 13 weeks ending January. This comes at a time when the business is pursuing an ambitious turnaround strategy. The Bradford […]

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IFS warns that the decline in North Sea revenue will cause a shortfall of up to £4,100  per person. The Institute for Fiscal Studies has warned that Scotland will face a much larger deficit than the rest the UK due to the drop in oil prices . According to the IFS, Scotland will have a […]

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Tommy Eklund, Fortnox’s CEO, has redefined the technology industry in a way that few other chief executives have. Eklund turned a Swedish niche accounting software supplier into a stock-market sensation, whose share value has increased fivefold under his leadership. Few predicted his performance in 2020. Fortnox estimates that the company has already signed up 2/5 […]

The post Short sellers flock to Fortnox, a Swedish software company that is on the rise. appeared first on Stockmark.IT.

The Bank of England warned that the private equity industry poses a threat to financial stability, as it launched a review of this $8 trillion ($6.3 trillion) sector. Officials are worried about the value assets such as commercial properties and businesses that private equity firms control. Uncertainty also exists about how much money was lent […]

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UBS agreed to sell loans worth $8bn to private capital group Apollo as it wind down its investment bank related to the acquisition of Credit Suisse in 2013. Apollo originally agreed to buy Credit Suisse’s securitised product division in 2022. The deal included an investment management contract. The deal announced on Wednesday concludes the arrangement. […]

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According to sources familiar with the situation, Formula One owner Liberty Media has exclusive negotiations to purchase the company that owns MotoGP. This would bring together the two elite racing series: the car and the motorcycle. The people who spoke to the media said that Liberty, which was chaired and run by John Malone, a […]

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After the collapse of the Francis Scott Key Bridge in Baltimore, carmakers have announced that they will be rerouting shipments to other cities. Insurers have also warned of claims worth billions of dollars. After the closure of Baltimore’s port, the US’s largest auto-handling facility and the site used by nearly every major manufacturer, manufacturers have […]

The post Baltimore Bridge collapse: Carmakers and insurance companies prepare for the fallout appeared first on Stockmark.IT.

Shein will announce in the next few days that the London Stock Exchange is the destination of its initial public offering, according to reports. This Is Money of the Daily Mail reported that the directors of the Singapore fast-fashion giant are nearing a decision on whether to list in London or New York. The Times […]

The post Shein is close to announcing London IPO reports appeared first on Stockmark.IT.

Sources close to Tata Steel have stated that the company would continue to cut thousands of jobs at its Port Talbot facility despite being promised hundreds of millions pounds in subsidies by Labor. According to people familiar with the plans of the company, the money promised by Labour should it win the election will not […]

The post Tata will ‘continue to lose jobs in Port Talbot even with Labour subsidy. appeared first on Stockmark.IT.

Apple, Google parent company Meta and Google are all being investigated by EU authorities for possible breaches of new EU laws designed to monitor anti-competitive behavior by large technology companies. The three face substantial fines if found guilty of violating the Digital Markets Act (DMA). is a landmark regulation that entered into force on the […]

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The International Monetary Fund said that China’s economy could grow by $3.5 trillion over the next 15 year if its policy is reoriented to focus more on consumers. Kristalina Georgeeva, managing director of the IMF, stated that China is at a crossroads. She said that China could either rely on policies that worked in the […]

The post Focusing on consumers can give China an extra $3.5trn. appeared first on Stockmark.IT.

A report warns that the UK economy is headed for a slow recovery after the recession, and the Bank of England may compound this weakness by maintaining interest rates at an unsustainable level for too long. KPMG predicts that the economy will grow by just 0.3 percent this year and struggle to achieve any significant […]

The post Bank of England: Delaying interest rate reductions will weaken the UK economy appeared first on Stockmark.IT.

Kingfisher’s hopes of a recovery have once again been dashed after the DIY retailer saw its profits fall due to sluggish sales in France. B&Q, Screwfix and B&Q’s owner said it would examine the future of Castorama after its like-forlike sales dropped by 5.9 percent last year. Thierry Thierry Garnier is the Kingfisher Chief Executive, […]

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A report says that Britain’s housing is “expensive and cramped” with an ageing population. It offers the lowest value for money among advanced economies. According to a study by Resolution Foundation, people in England live in smaller homes on average than in France, Germany, and Japan. Housing costs in the UK are nearly 40% higher […]

The post British homes are smaller, older and more expensive than those overseas appeared first on Stockmark.IT.

A new report claims that consumers could see their energy prices rise further because the government is blocking the development of offshore wind power. The Energy and Climate Intelligence Unit said that the ministers’ budget is not enough to fund a large number of future farms. The Treasury’s “unrealistic” power price predictions for the coming […]

The post As Treasury “stifles” offshore wind, energy prices could rise appeared first on Stockmark.IT.

Merlin Entertainments announced today the purchase of the Orlando Wheel in Icon Park, Florida. It is the tallest observation wheel east of America. The British company has already purchased a Madame Tussauds and a Sea Life Aquarium in the area. With the purchase of this wheel, it can replicate the cluster strategy it has used […]

The post Merlin’s record revenue keeps wheels spinning appeared first on Stockmark.IT.

The rapid increase in premiums for car, pet and home insurance has brought the government a windfall worth more than £8billion. HM Revenue & Customs reports that with one month remaining in the 2023-24 fiscal year, insurance tax receipts have reached a new record of £8.1 billion. This is an increase of 9.9 percent over […]

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Wind farms owners are under investigation by the energy watchdog over alleged market manipulating after being accused of charging consumers more than £100m. Ofgem will investigate claims that renewable energy companies artificially inflate compensation payments they receive for turning off their turbines during windy days, when extra capacity was not needed on the grid. The […]

The post Wind farms investigated for ‘overcharging by £100m customers’ appeared first on Stockmark.IT.

Red state investment funds pulled $13.3bn out of BlackRock, the world’s biggest asset manager, nearly two years after the Republican campaign began to punish BlackRock because it insisted that climate change poses a financial risk. This figure represents approximately one-tenth percent of BlackRock$10tn assets under management. Some Republican state pension funds have more than $20bn […]

The post US investment funds withdraw $13.3bn in BlackRock’s anti-ESG campaign appeared first on Stockmark.IT.

China has issued new guidelines which will see US microprocessors such as Intel and AMD phased out from government computers and servers. Beijing is ramping up its campaign to replace foreign technologies with domestic solutions. In addition, the stricter government guidelines on procurement seek to eliminate Microsoft Windows operating system as well as foreign database […]

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In an effort to counter China, the US and Japan plan to upgrade their security alliance to its highest level since 1960 when they signed a Mutual Defence Treaty. Five people with knowledge of the situation have confirmed that President Joe Biden will announce plans for reshaping the US military command to Japan in order […]

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Wes Streeting, the shadow health secretary, has stated that he would like the NHS to rely on the private sector for the short-term so it can reduce its dependency in the future. He also rejected New Labour’s “ideological belief” that competition will drive up standards. In an interview, streeting defended his “unfashionably-nuanced” viewpoint, saying: “I […]

The post Wes Streeting: NHS should “seek to utilize” private healthcare capacity appeared first on Stockmark.IT.

In an office in Antwerp in Belgium, four piles of small grit-like stones are piled on the desk. It’s hard to believe that these plain white rocks are actually some of the most valuable in the world. These are rough diamonds, which means they have not been cut or polished, and they look as they […]

The post The diamond trade in Europe is a fading industry as Russian sanctions bite appeared first on Stockmark.IT.

The green robot, standing at knee height, shuffled up to the stage of the San Jose Convention Center. A crowd of geeks cheered as it passed. Jensen Huang beckoned to the robot, the founder of AI chip maker Nvidia and one of the wealthiest men in the entire world with a net worth of $80 […]

The post AI-powered robots can stand up on their own. appeared first on Stockmark.IT.

Emad Mostaque has left Stability AI. The pioneering start-up that he founded in order to create images at will. Mostaque was gifted and talented. He formed StabilityAI in order to promote the Stable Diffusion Tool, which allows users simply to type words into a program to create images. After the success of ChatGPT, the company […]

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Sir Richard Branson waived over £100 million he was due to receive from Nationwide Building Society in exchange for the use of Virgin Money as part of its £2.9 billion acquisition. Virgin is a billionaire entrepreneur who has a reputation for licensing companies to use its name in varying industries. This includes airlines, gyms, hotels […]

The post Virgin riches: Richard Branson’s tight control over his brand allows him to make millions appeared first on Stockmark.IT.

Whitbread will sell or convert one third of its Beefeater pubs and Brewers Fayre estates after a failed private equity deal. Goldman Sachs was hired by the FTSE 100 firm last year to explore possible options for its 400 food-and-beverage estate which is mainly made up of two brands. Whitbread, according to sources, entered into […]

The post Whitbread closes down Beefeaters, Brewers Fayre and other pubs appeared first on Stockmark.IT.

Between West Street and Litchfield Street, in London’s Covent Garden is The Ivy. It is both a haven for theatregoers who need a drink or a front room for celebrities. A glass lift will whisk you up to the private dining room after passing through the West Street entry, which is often mistaken as a […]

The post Man City owner Sheikh Mansour circles The Ivy chain as it goes up for auction appeared first on Stockmark.IT.

As part of its efforts to improve service, the intercity train operator Avanti struck an overtime agreement with drivers. This could bring their average annual salary to nearly £100,000. The operator of the services on west coast mainline between London, Manchester and Glasgow agreed to pay drivers a flat fee of £600 for working an […]

The post Avanti Train drivers to receive £100k in overtime pay appeared first on Stockmark.IT.

It has been revealed that a Chinese company, which makes batteries for BMW electric vehicles, is about to invest billions of pounds in the construction of Britain’s largest gigafactory. EVE Energy is the largest producer of cylindrical Tesla-like car batteries in the world. It’s believed that the company has advanced negotiations for the construction of […]

The post Chinese giant to build UK’s largest gigafactory appeared first on Stockmark.IT.

On Thursday, Congressional leaders announced a $1.2tn budget package to fund a large part of the federal Government. There are less than two weeks left to avoid a partial government shutdown. Leaders from both parties celebrated their policy victories in negotiations on the bill that will fund departments such as Homeland Security, Defense, State, and […]

The post US Congress releases $1.2tn in spending to avoid shutdown appeared first on Stockmark.IT.

Tories presided over the largest setback in records since beginning If the Conservatives are in power, the Institute of Fiscal Studies has warned that middle- and high-income households in Britain will experience the biggest decline in living standards since the 1960s. Middle- and high-income households experienced a 1.6% decline in incomes from 2019-20 to 2022-23, […]

The post Middle and high-income households are facing the worst living standards decline since 1960s appeared first on Stockmark.IT.

BAE Systems won a multi-billion-pound contract to build Australia’s nuclear-powered submarines, which will boost British jobs and industry. The Australian government, as part of the Aukus Defence Pact between the UK and US, has selected BAE along with domestic defence company ASC Pty for the delivery of the vessels early in 2040. The SSN-Aukus attack […]

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Waitrose puts hundreds of jobs in danger as it prepares to close a warehouse that was opened only four years ago. The supermarket has announced that it will close its Enfield warehouse this summer, which could result in the loss of more than 500 jobs. Enfield was opened four years ago, as part of an […]

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Nike will take over as the German National Football Team’s sponsor, replacing Adidas. This ends a long-standing partnership between the team and Adidas, and it is a new setback for the struggling brand. After signing a seven-year contract with Nike, the DFB German Football Association announced Thursday afternoon that Nike will be the main supplier […]

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The UK government has explicitly ruled out direct foreign ownership of British newspapers in an amendment to a bill that would effectively block the takeover of Telegraph Media Group by RedBird IMI, backed by Abu Dhabi. The new Whitehall regime will ban direct investment by foreign states in UK newspapers, regardless of their size. This […]

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Donald Trump’s legal dispute with his former business partner will soon come to an end. A vote is set to decide whether the former US President can reap a $3.5bn windfall if he takes the company that runs his Truth Social network to the public. On Friday, a shareholder vote is scheduled to approve a […]

The post Spac fight could lead to a $3.5bn windfall in Donald Trump’s favor appeared first on Stockmark.IT.

Reddit shares soared by nearly half in their debut on the market, a vote for confidence in initial public offerings following two years of subdued activities. Stocks closed Thursday under the ticker RDDT at $50.44, up 48% from the IPO price of $35 per share. After a difficult two years, the strong debut could signal […]

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The Bank of England held UK interest rates to 5.25 percent and indicated it was moving closer to reducing borrowing costs. This will weaken sterling and boost stocks. Andrew Bailey, the Governor of the Bank of England’s Monetary Policy Committee, said that inflation was “moving in a positive direction” after the committee kept the benchmark […]

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Nationwide claims it cannot give its building society members the right to vote on its £2.9bn purchase of Virgin Money due to City takeover regulations. The lender announced the acquisition on Friday and said that it had been able to proceed with the offer of 220p per share after receiving “appropriate legal advice” Previously, Nationwide […]

The post Nationwide says that a vote by members on the Virgin Money £2.9bn deal would violate takeover rules. appeared first on Stockmark.IT.

In the latest attack on the Big Tech giants, Joe Biden’s government is suing Apple over its alleged use of power to limit competition and restrict consumer choice in the smartphone industry. Apple is under pressure from rivals and regulators in the world to change the way the iPhone works. This puts its $85bn revenue […]

The post US accuses Apple of building smartphone market monopoly in antitrust case appeared first on Stockmark.IT.

The reopening the border between mainland China and Hong Kong has led to a greater than expected increase in profits at Prudential. The new business profit, which is a measure for the future profitability of policies sold, increased by 43 percent at actual exchange rates, to $3.13 Billion, beating the consensus forecast of just $2.94 […]

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Raiffeisen Bank International abandoned its planned sale of risky debt on Wednesday after a “negative market reaction” following a report claiming that the US put pressure on the Austrian bank over a deal it had made with Russian oligarch Oleg Dripaska. Investors had demanded more than €1.6bn from the Vienna bank, which was working on […]

The post Raiffeisen pulls AT1 bond deal over Russia deal fears appeared first on Stockmark.IT.

In the US, a new gene therapy that treats a rare genetic disorder that attacks the nervous system central of young children is priced at $4.25mn. This makes it the most costly drug in history. Lenmeldy, a medicine developed by Orchard Therapeutics, became the first US-approved treatment for metachromatic lukodystrophy this week. MLD is a […]

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Bitcoin is down 16 percent from its high of last week. Investors have stopped investing in new funds, which had been driving a big rally for this year. The largest cryptocurrency in the world, which was worth $73,800 on Thursday, fell to $60,760 Wednesday, before rising back up to just over $63,000. According to CoinShares’ […]

The post Bitcoin falls from record highs as Grayscale ETF withdrawals reach $12bn appeared first on Stockmark.IT.

Kering, the luxury goods company owned by Francois-Henri Piault, issued a profit warning due to a decline in demand for its flagship brand Gucci. The Paris-based company, unlike its competitors in the same sector who have done better, said that like-for-like retail sales would fall by 10% on an annual basis in the first three […]

The post Kering, the owner of Gucci, issues a profit warning following a slump in China sales appeared first on Stockmark.IT.

UK inflation dropped to 3.4% in Feburary, the lowest in two and a quarter years. This was due in part to a slower pace of price increases in food and restaurants. The larger-than-forecast drop in the consumer price index (CPI), from January, will give a boost Rishi Sunak who has promised to reduce inflation. It […]

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After the aviation regulator ordered that the airport reduce the fees charged to airlines, passengers will now pay less when flying into and out of Heathrow. The Civil Aviation Authority (CAA), on Wednesday, ordered Heathrow to reduce the amount that it charges carriers in the coming year and year after. This is a deeper cut […]

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The Daily Mail is preparing to cut jobs after warnings from its bosses about changes in working patterns. Ted Verity, the editor of Mail Newspapers said in a memo to employees that the publisher is taking additional steps to merge their titles and put digital at the center of “everything we do”. He said: “Inevitably […]

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Hermes is in a legal fight with two American customers who sued the French designer for refusing to sell them Birkin bags. Hermes has been accused by two Californians of selling Birkin bags only to those customers who are deemed “worthy”. In a class action lawsuit filed by a San Francisco resident, it was alleged […]

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Santander UK’s boss warned that Britain is becoming an unattractive investment destination due to high taxes, amid increasing pressure on the Chancellor. Mike Regnier told the MPs that Santander UK’s chief executive, Mike Regnier, said that Santander UK was able to attract money from other countries that would have otherwise been invested in Britain due […]

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ECR Minerals, a mining exploration company, has recently secured a significant funding round, raising £585,000 through a placement. This strategic move aims to accelerate the company’s exploration activities and unlock the potential of its vast land holdings across Victoria and Queensland, Australia. The decision to raise capital at this juncture was driven by a desire […]

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The outlook for the global economic climate is the most positive it has been in the past two years. Most fund managers believe central banks can bring inflation to the target rate without triggering recession. Bank of America’s latest survey of global fund managers found that 62% of respondents anticipated a “soft landing”, with the […]

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Indivior’s top shareholder — one of the largest institutional investors in the City — is unlikely oppose its plans to move to the United States. Indivior, a company that specializes in treating substance abuse disorders and serious illnesses, announced last month it would consult its shareholders on the possibility of switching from the London Stock […]

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The largest British pharmaceutical group has acquired a Canadian firm that is developing the next generation of cancer treatments. This is its second acquisition this week, aimed at boosting its drug pipeline. AstraZeneca is accelerating its ambition to replace chemotherapy and radiotherapy, which are traditional cancer treatments, with targeted drugs by acquiring Fusion Pharmaceuticals. Fusion, […]

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As part of its decades-long effort to create inflation, the Bank of Japan ended its negative rate policy and raised borrowing costs for first time since 2007. The central bank raised its main interest rates from a range between -0.1 and 0 percent to 0 to 0.1%. It also ended the policy of purchasing government […]

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Nvidia, the chipmaker, has increased its lead in artificial intelligent with the introduction of a “superchip”, of a quantum computing system and of a suite of new tools that will help to develop the ultimate sci fi dream: general-purpose humanoid robots. We examine what Nvidia is doing, and what this could mean. The company’s annual […]

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Tesco will drop the blue-and-yellow logo it uses to promote its Clubcard program. This rebrand could cost Tesco almost £8m after it lost an appeal over a ruling it copied a Lidl design. Legal experts say Lidl has the right to sue for compensation for trademark infringement, which could result in a multi-million pound bill […]

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Ted Baker’s European Retail and Online arm will appoint administrators. This puts almost 1,000 jobs in danger at the British brand. The fashion brand has struggled for years due to increased competition and the fallout of the departure of its founder Ray Kelvin in 2019. Kelvin resigned in 2019 following allegations of ‘forced hugging’. In […]

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The UK’s inflation rate fell to just 3.4% in the month of February, the lowest it has been for over two years. This is because the pace of annual price increases began to slow down again after having stagnated the previous months. The larger-than-expected decline in consumer prices (CPI) , from 4% in Jan, will […]

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As the cost of theft increases, retailers are beginning to question the use of unmanned scanning devices. One shoplifting technique has become so popular that staff members have named it. The “banana tricks” involves putting a product through and a self-checkout, thinking it is a cheap fruit/vegetable item. But you end up with something much […]

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Investors buy shares in European travel, luxury and retail goods, betting on a recovery of the economy to encourage consumers to spend more on expensive holidays and items. Renault and Stellantis, two carmakers, have both risen by more than 25% since the start of February. German entertainment group Eventim has risen by 23 percent and […]

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Microsoft has hired Mustafa Suleyman to lead a new consumer-facing AI unit. Suleyman is the co-founder and CEO of Google’s DeepMind, as well as the chief executive officer of Inflection. Microsoft announced Tuesday that Suleyman will be reporting to Satya Naddella, its chief executive. He is a British entrepreneur and co-founder of DeepMind, which was […]

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Costa Coffee, Starbucks, and Pret a Manger are the three biggest players in the British ready-to drink coffee market. But there’s another company that wants to provide caffeine on the move. Nespresso is the coffee capsules brand that George Clooney and David Beckham promote. It will open its first coffee shop for on-the-go customers on […]

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Pfizer is selling a stake of its former joint venture in consumer healthcare, Haleon. The sale will be worth approximately £2.3 billion. The American drug company intends to reduce its remaining holdings in the manufacturer of Sensodyne tooth paste and Panadol painkillers, from 32 percent to approximately 24 percent. Pfizer is selling down in two […]

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