The UK seized more than £3bn of bitcoins from China. The group of victims of the £5bn scam perpetrated by the Chinese company Tianjin Lantian Gerui Electronic Technology sent a letter to the Foreign Ministry in Beijing this week asking them to begin negotiations with the UK Government for the recovery of Bitcoin purchased with […]

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IQE’s chip components are in high demand due to the boom in artificial Intelligence. In an update released yesterday, the company said that its order book of wafers was growing and would likely continue to grow. This sparked a jump in share price by 28.8 percent, or 5 3/4p. IQE reported that it had increased […]

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After accepting a £378million offer from a Belgian group of self-storage, it appears that Lok’nStore will be the next British firm to be acquired by an overseas competitor. Shurgard’s offer works out to £11.10 per share, 15.9% higher than Lok’nStore’s closing share price on Wednesday. It is also 2.3% above the peak reached in January […]

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Polar Capital’s figures show that investors are now putting more money back into technology funds after an eight quarter period of net redemptions. The shares of the London-listed specialist investment manager in technology jumped by a fifth following its net inflows totaling £56 million during the last quarter. Polar reported net inflows of £327million in […]

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The UK’s Competition Regulator has expressed “real concern” that Apple, Amazon, and Microsoft are using their dominance of the artificial intelligence world in a manner that could harm customers. The Competition and Markets Authority is currently looking at AI Foundation Models, which are powerful digital engines for AI. These include the large language models used […]

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According to Allianz Trade, consumers will have to pay an additional £2bn for French cheese, Italian oil, and other foods from the continent when post Brexit border checks are implemented at the end this month. Ana Boata’s research, who is the head of economic research for the financial services firm, says that the controls will […]

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It can be revealed that The Telegraph could be in financial trouble if the Barclay Family regained control after the failed takeover supported by the United Arab Emirates. The family’s possible comeback could restrict the company’s access to finance due to suspicious transactions that were discovered when the company was in receivership last year by […]

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Sotheby’s will use works by Picasso, Warhol and Rembrandt as collateral for a bond of $500m (£399m). The auction house has bundled almost 90 loans to art collectors that are linked to artworks into a special bond. Bloomberg reported that Barclays has been canvassing investors to decide what price to charge for the bond. Sotheby’s […]

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Tesco will give a “thank-you” bonus to more than 220,000 workers after the profits of the supermarket rose by nearly 160 percent last year. The largest private employer in Britain announced that it will give out around £70 million, or 1.5 percent of annual salaries, to employees who are paid hourly at its stores, Customer […]

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Asda was forced to release draft results to investors after the auditor failed to sign company accounts. Asda’s managers made the unusual choice to give a private presentation to lenders at the end of last month. Asda announced unaudited profit of £248m on revenues of £25.6bn in 2023. The retailer has a £4.2bn debt load, […]

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Mel Stride says he will ‘do what it takes’ when the Fund calls for radical measures to combat unemployment The International Monetary Fund has urged Britain and other wealthy nations to reduce benefits and taxes in order to combat the crisis of unemployment. Mel Stride pledged to “do what it takes to get Britain back […]

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In a post-Brexit boost to the City, EU rules on research into stock markets that support Britain’s £9 trillion (£9 billion) money management industry are being scrapped. The Financial Conduct Authority is currently consulting on plans to eliminate laws that force fund managers to pay for separate research on UK listed companies. In 2018, EU […]

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Nationalising Thames Water will discourage investment in UK infrastructure. This is the warning of a major bondholder. Royal London Asset Management’s senior fund manager said that taking the heavily-indebted water company under public ownership would “risk spreading contagion” and affecting investment in other projects. Shalin said that forcing Thames Waters creditors to accept losses could […]

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Investors rush to buy British bonds as traders increase bets on the Bank of England cutting interest rates ahead of the US Federal Reserve. The official data showed that the US rose more than expected in march, which was a blow for US rate cuts. The stock markets dropped and borrowing costs worldwide jumped as […]

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After US inflation exceeded expectations, traders slashed their bets on Federal Reserve rate cuts Wednesday. Joe Biden also acknowledged that there was still “more to be done” in combating price increases. After official data revealed a 3.5% increase in consumer price for the period ending March, bond yields increased, stocks fell and markets revised their […]

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Three of the largest commodity traders in the world said that their combined profit of $23bn last year shows they can continue to grow strongly without turning to public markets. Jeffrey Dellapina said that there was “no way” Vitol would consider an IPO. Vitol is the largest independent oil trading company in the world. He […]

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Slug & Lettuce’s owner has expressed concerns about the future of his company as he races to refinance over £2bn worth of debt. Stonegate, UK’s largest pub operator, with over 4,000 locations across the UK, has warned that “material uncertainty” exists about its ability to remain a going concern. The challenge is to refinance 2.2 […]

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A UK energy firm is about to begin drilling in the largest oil field found in the North Sea for at least 20 Years despite a crackdown of net zero on the industry. EnQuest has plans to bring on two fields that have the capacity to produce 500,000,000 barrels of crude over the next decade. […]

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Former Shell head says oil giant is “massively underestimated” in London, and could benefit from moving its listing to US. This is another blow for the UK stock exchange. Ben van Beurden who was responsible for Shell’s shift from The Hague, Netherlands to London, UK by 2022, and the removal its dual-class shares structure, revealed […]

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OpenAI and Meta have announced that they are about to release new artificial intelligence models. These models will, according to them, be able of reasoning and planning. This is a critical step towards machines having superhuman cognition. OpenAI executives and Meta executives announced this week that they were preparing the launch of the next version […]

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BP is expecting a “strong performance” from its trading division, which buys and sold oil. It also expects an improvement in the upstream production and gas of oil and low-carbon fuels. The FTSE group stated in advance of the release of its first quarter results at the beginning of May that “the oil result is […]

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Energy prices dropped from their record highs, resulting in a $2 billion drop in profits for Vitol. According to people familiar with the group’s finances, it has a net profit of $13 billion. This is down from its record profit of $15 billion in 2022. Vitol declined to comment, as it does not reveal its […]

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The wet weather dampened the enthusiasm of shoppers, and the increase in non-essential spending such as clothing was only 1.6%. This is the lowest rise since September 2012. Barclays data shows that in-store retail sales, excluding groceries and clothing, declined by 2.1%. The restaurant sector was particularly affected . In March, spending fell by 12.6% […]

The post Rain is bad news for Dune retailers, but consumers flock to the cinema instead appeared first on Stockmark.IT.

Macquarie, a financial group based in Australia, is a member of the consortium that lends to Thames Water parent company Kemble Water Finance. The fate of the struggling utility could be decided by the lenders last week, including two Chinese state-owned bank, the Dutch ING and Allied Irish Bank. The disclosure of Macquarie’s involvement may […]

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Two of the biggest retail groups in Europe have expressed interest in buying Ted Baker’s European retail business. Frasers Group led by Mike Ashley and Next led by Lord Wolfson, Aspley Guise have contacted administrators of Teneo Advisory in order to discuss the sale of parts or all of the business. No Ordinary Designer label, […]

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Neither Rishi Sunak nor Gordon Brown is a beer aficionado. The former is teetotal and his predecessor all but gave up booze during his time in office. Yet the two prime ministers loom large over the turbulent saga of the UK craft beer scene. Brown, then chancellor, introduced small brewers’ relief in 2002, a tax […]

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JP Morgan , the boss of a US bank, has warned the world that it could be in the midst of the most dangerous time since the Second World War. This would put lives at risk and threaten economic growth. Jamie Dimon, in his letter to investors said that the world was “generally” on a […]

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The London office of a tech giant has set up a division for artificial intelligence Microsoft will open a new artificial-intelligence (AI) hub for London, one year after the company’s former president stated that his confidence to invest in the UK was “severely shook”. The division will run by Mustafa Suleyman , Microsoft’s newly appointed […]

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The International Monetary Fund has warned that risky lending by shadow banks could trigger a new crisis. The Washington-based organization said that the “opaque private credit” of $2.1 trillion, which has boomed over recent years amid record low interest rates, poses “systemic risk”. Companies that are too big or risky to be financed by commercial […]

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Taiwan Semiconductor Manufacturing Co., the world’s largest chipmaker, has agreed that its most advanced products will be made in Arizona starting in 2028. This is a major boost for White House efforts to bring manufacturing of semiconductors to American soil. TSMC is upgrading its plans to build a fabrication facility, or fab in Phoenix, Arizona. […]

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Citadel, a hedge fund giant, says that oil markets will become “extremely tight”, in the second half this year. This is because Opec+ has control over the market and can keep prices high. Sebastian Barrack said that the cartel had “definitely regained the control” over the Oilmarket at the Commodities Summit held in Lausanne, on […]

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Labour’s policy towards the EU has been a source of tensions. On Monday, the party had to deny that it would re-enter the customs union after winning the general elections. In a paper published by the Eurasia group political consultancy, unidentified “senior Labour Insiders” claimed that the party was planning to revive High-Alignment Deal originally […]

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Elon Musk claims that the new artificial intelligence models’ capabilities will surpass the human intelligence by next year as long as electricity and hardware are available to meet the needs of this increasingly powerful technology. Musk, the billionaire entrepreneur who runs Tesla, X, and SpaceX, said, “I think we’ll probably have AI that is more […]

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Federal investigators launched a new investigation into a Boeing after the engine cowling on a Southwest Airlines plane blew off during flight. The aircraft, which had departed Denver for Houston at 07:00 local time on Sunday morning, returned to Denver and safely landed. It was carrying 135 passengers with six crew members. The aircraft involved […]

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Gold prices hit a record high of $2,353 an ounce Monday morning, before slipping back to around $2,336. Geopolitical tensions and central bank purchases, as well as the looming rate cuts, fueled demand for gold. Interest rate swaps indicate that the market expects the Federal Reserve to cut rates by two percentage points this year. […]

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Tesco, the UK’s largest supermarket and responsible for more than 25% of all food purchases in our country, will unveil its annual financial report on Thursday, shedding light on a market that is rapidly changing. Tesco’s sales are expected to increase by almost 5%, to just over £69bn. The company is gaining market shares as […]

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The UK government is being urged by consumers to act against the unregulated “buy now, Pay Later” credit. This has led to a rise in online spending of up to £1.7bn per month. Many people use deferred payment to purchase household necessities, warn debt advisers. Consumers who miss payments risk having their cases turned over […]

The post The UK is facing a spiralling debt crisis as the number of ‘buy-now-pay later’ loans quadruples. appeared first on Stockmark.IT.

Sir John Bell, one of Britain’s leading life sciences leaders, warned of an imminent exodus of pharmaceutical companies from London, calling the City “a bad place to raise funds”. Sir John, a veteran of the industry known for his crucial role in the Covid vaccine launch, has said that British biotech companies “will all pack […]

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Billionaires invested $140m into Elon Musk’s rival tech company Synchron Noland Arbaugh, 29, was finally able to do something that was previously impossible. He was allowed to freely use his Neuralink chip. In a video on X (formerly Twitter), Arbaugh said, “I stayed awake until, geez… 6am playing Civilisation VI.” Arbaugh was paralysed eight years […]

The post Bezos, Gates and Bezos are backing a brain chip startup called ‘Black Sheep’ appeared first on Stockmark.IT.

The UK is now dangerously exposed after squandering its most valuable asset. A massive, deserted oil platform lies abandoned in the North Sea. Brent Charlie is the final remnant of the Brent Field – once a huge resource that supplied a third the UK’s oil daily needs. The Brent field was discovered in the 1970s […]

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The UK’s largest long-term retirement and savings business has drawn up plans for a new superfund that will support fast-growing businesses as a boost to Jeremy Hunt. Phoenix, the company that owns Standard Life, has begun creating a multi-billion-pound vehicle for investment. Insiders believe this will boost investment in high growth sectors and increase pension […]

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Vitol is the largest independent commodity trader in the world. It has earned far more profits than its competitors for the second consecutive year, cementing its position as a major player in the global energy market. According to sources familiar with the results of the company, the privately-owned group, whose London-based chief executive made a […]

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Retail insolvencies have risen sharply as businesses are feeling the effects of rising interest rates, higher costs and cautious spending by consumers. According to Mazars the audit, tax, and advisory firm, 2,195 retail outlets collapsed during the past year, a 19% increase compared to the previous year. The Body Shop, in February; fashion brand Ted […]

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Last month in Beijing, the lord Mayor of London met Han Zheng – vice president of the People’s Republic of China. Rishi Sunak, a British economist, warned days later that China was the “greatest threat” to UK economic security. However, the City of London Corporation shows no signs of tension between the two countries. According […]

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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 […]

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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. […]

The post Revolution Bars shares are suspended from trading appeared first on Stockmark.IT.

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 […]

The post Report: AI “apocalypse” could cost UK jobs of 8m. appeared first on Stockmark.IT.

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 […]

The post Morrisons’ losses mount amid debt finance pressures appeared first on Stockmark.IT.

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 […]

The post IFS warns that Scotland will face a much larger deficit than the rest of the UK as oil prices fall. appeared first on Stockmark.IT.

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 […]

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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 […]

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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 […]

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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 […]

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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 […]

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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 […]

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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 […]

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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 […]

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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 […]

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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 […]

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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 […]

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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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