ITV reported a complete drop in sales as the production arm of its company, hit by Hollywood’s writers and actors strike, overshadowed its more enticing advertising figures. The revenue for Britain’s largest commercial free-to-air broadcaster fell by 7 percent to £887 millions in the first quarter, compared with £952millions the previous year. ITV Studios, which […]

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An overseas investor is looking to take advantage of the cheap London market valuations by targeting a FTSE 250 engineering consulting firm. John Wood Group rejected a £1.4billion takeover offer from a smaller competitor, claiming it “fundamentally underestimated” the engineering consulting firm. Wood shares rose as high as 20% in early trading following speculation that […]

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Land Securities, the largest commercial real estate owner in the country, sold the last of its hotels to an investor from the United States. Ares Management, based in Los Angeles, paid £400 million to purchase the 21 hotels located across the country – from Southampton to Leeds. Landsec uses the money, which it valued at […]

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Officials at the London Stock Exchange grumble about the unfairness of the world. They complain that while high-profile IPO failures in Britain are remembered for many years, IPO disasters on the New York Stock Exchange are quickly forgotten, as locals look to the next big thing. This complaint is not without merit. Take Cazoo. Its […]

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Rural bodies have warned that British farmers may be considering leaving their farms due to the recent record-breaking run of rainy weather, which has put the sector “on edge”. The Agriculture and Horticulture Development Board and the Soil Association expressed concern over the dangerous situations that many are facing in their industry. Profits were squeezed […]

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According to the Bank of England chief economist, high levels of immigration fuel Britain’s housing crises. He blamed skyrocketing rental prices on a lack of properties. Huw Pill claimed that higher interest rates are not to blame for the record-breaking rise in rental costs. These increased by 9.2pc over the past year. After net migration […]

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Spirit AeroSystems UK’s head has warned that the possible break-up of their Northern Ireland operations, in the event of sale, would be “extremely damaging” to the future of the company and the aerospace industry of the region. After Boeing announced in March that it was in discussions to purchase the troubled US Aerospace supplier it […]

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The UK government has scrapped plans for Britain’s biggest trial of using hydrogen gas to heat homes. This is the latest blow for the use of the gas as part the transition to net zero. Ministers announced that they would stop preparatory works on a project to replace fossil fuels with hydrogen to heat up […]

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A half-century ago, Philip Verleger, a well-known energy analyst and adviser to American companies that wanted to sue Opec over price fixing, became embroiled as a consultant in an antitrust fight. That failed. Verleger’s 2000 anti-Opec campaign also failed. Verleger, now 79 years old, is wondering whether a third attempt will finally — and unpredictably […]

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Apple apologized for an advertisement that showed musical instruments, art tools, and games being crushed with a hydraulic press. The ad had led to accusations of cultural insensitivity. Apple CEO Tim Cook launched the one-minute video to promote its new tablets. This is the first time in two years that the US tech giant has […]

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The Bank of England has indicated that it will cut rates if the inflation rate remains low this summer, even though it is keeping borrowing costs at their highest level in 16 years of 5.25 percent. Andrew Bailey, Governor, said on Thursday that a cut in rates during the next Monetary Policy Committee meeting, scheduled […]

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Cazoo, an online car retailer,has failed to secure funding The digital used-car business founded by the former Zoopla boss Alex Chesterman has filed an notice at the High Court that it plans to appoint administrator. The British car dealer has suffered a spectacular fall in fortunes. In 2021, the company was valued at more than […]

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High Speed 2 bosses, who will supervise its construction, are set to receive two massive drills before £1bn in vital funding is secured. The Government is yet to approve the start of tunnelling despite repeating plans to extend the HS2 to Euston after scrapped its northern leg last October. The uncertainty over funding forced HS2’s […]

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One of the most senior officials at the International Monetary Fund has stated that Brexit will likely have had “a large negative impact on the UK’s economy”. He cited the UK’s departure from the European Union, as an example of how trade fragmentation can be dangerous. Gita Gopinath said that the UK’s departure from the […]

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The French-owned company with a Derby site that supplied rolling stock to the Elizabeth Line asked its shareholders to contribute €1 billion in order to get back on track. Alstom, the company that operates the historic Litchurch Lane Train Works, has launched a rights offering as part of an €2 billion refinancing plan to avoid […]

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The boycott of Bud Light by consumers over a promotion with social media influencer Dylan Mulvaney, a transgender woman, continues to impact American sales. Anheuser-Busch InBev has reported a 9.1 percent drop in revenue in the United States for the first quarter, affecting the group’s revenues, which grew by 2.6 percent to $14.5 billion. The […]

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Figures suggest that DIY investors can achieve returns comparable to those of highly-paid City fund managers. Retail investors using Interactive Investor’s online platform have seen returns of 12.6% on average in the last three years. This compares to 10.7% for funds within the Investment Association 40-85% shares sector where managers invest a mixture of stocks […]

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Uber’s operating income was less than a quarter what Wall Street expected. The ride-hailing company reported that it had made $172 in the first three months of this year. This is far less than the analysts’ forecast of $600, but it was an improvement over last year when it lost $262 million. The company’s legal, […]

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Private motorists are continuing to avoid the zero-emission car market. At the beginning of the year, the Society of Motor Manufacturers and Traders predicted that 24 percent of all new vehicles registered in the United States would be zero emission vehicles. This was higher than the 22 percent target set by the government in its […]

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Shell sold off its remaining chemical assets at Singapore as part of a recent effort to streamline operations and divest less profitable parts. Glencore, the commodities group and Chandra Asri, an Indonesian chemicals firm, will assume the physical assets and the commercial contracts of the refinery and chemicals assets on Pulau Bukom Island and Jurong […]

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Google DeepMind unveiled a model of artificial intelligence that explains the interactions of cells and life’s building block. This will help unlock disease secrets and develop treatments for cancer and other diseases. AlphaFold 3 is the third generation technology developed in 2018. It gives the most sophisticated predictions yet on how small biological structures will […]

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A company controlled Sir Paul Marshall, a hedge fund manager, lost a court battle with the South African Government over silver bars worth $43mn recovered from an Indian Ocean wreckage dating back to the second world war. The UK Supreme Court sided on Wednesday with the Pretoria government, which had claimed it didn’t owe Marshall’s […]

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Apple’s new iPads feature what the company calls “an insanely powerful chip for AI”, a sign of its growing focus on artificial-intelligence services. Just months after introducing the M3 chip with new Macs, the company announced the “M4” for its latest iPad Pro device on Tuesday. Apple and Nvidia are rushing to produce more powerful […]

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Saudi Arabia’s state owned oil giant, the Saudi Arabian Oil Company (SAOC), is planning to spend almost £100bn on crown prince Mohammed bin Salman mega-projects despite a drop in profits. Aramco expects to pay $124bn this year (£99bn), compared with $98bn by 2023, to its shareholders. These are primarily the Riyadh government or sovereign wealth […]

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Buy-to-let is doomed by purpose-built flats for Gen Z The crumbling walls, dirt-coated appliances and crumbling ceilings of the TV series The Young Ones were all a part of the rite of passage. The chaos and filth that was glamorised in the 1980s surreal sitcom are no longer popular with Gen Z. The student housing […]

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Disney is cutting production of Marvel movies and TV shows amid fears that the demand for their work will be exhausted by so-called super hero fatigue. Bob Iger, Disney CEO, stated that the company will “reduce output” and “focus more on quality”, especially when it comes to Marvel . Marvel is known for franchises like […]

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The global debt reached a record $315 trillion ($250 trillion), as China and India continued to borrow despite geopolitical tensions, higher interest rates and other risks. The Institute of International Finance warned that the post-pandemic effort to reduce debt was coming to an ending as governments cut taxes while increasing spending in light of a […]

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The company says the decision was made purely for commercial reasons, as alternatives to jab have been developed. The Oxford-AstraZeneca Covid vaccination is being withdrawn from the market worldwide. This comes months after the pharmaceutical company admitted in court documents for the first that the vaccine can cause a rare but dangerous side effect. After […]

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Scientists have discovered a new genetic variant of Alzheimer’s that highlights the need for specialised treatments and prevention strategies. Researchers in the US found that almost all people with two copies of APOE4 (also known as APOE4 heterozygotes) are at risk of developing symptoms of this neurological disorder. This gene has already been linked to […]

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Emmanuel Macron, Ursula von der Leyen and others warned Xi Jinping that in order to rebalance the trade relationship with China, the EU must protect itself against cheap Chinese imports. They also urged China’s President to reduce support for Russia during its war in Ukraine. In a day-long meeting in Paris, French president Macron praised […]

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Qantas will pay A$100m (£53m) in penalties and A$20m to passengers as compensation for a legal dispute over the tickets it sold for cancelled flights. The Australian Competition and Consumer Commission’s (ACCC) fine is among the highest ever for an Australian carrier and the most significant in the industry. The ACCC filed a lawsuit against […]

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Banco Sabadell, a Spanish lender, has rejected BBVA’s €12bn bid for its takeover. The proposed deal is “significantly below” the value of its own growth prospects. Last week BBVA made a surprise bid for Sabadell. They said the merger of two Spanish lenders will create “one the largest and most robust financial entity in Europe”. […]

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According to a new report, millions of obese people cannot work or are less efficient. This condition may explain the record-high rates of economic inactivity in the UK due to illness. Think-tank Institute for Public Policy Research is urging the government to stop treating the obesity epidemic as an individual issue and instead focus on […]

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A 40mph wind blows in Port Talbot on a sunny day, causing white horses to froth in the bay. Offshore wind turbines in the North Sea would be spinning furiously. The Celtic Sea is too deep for turbines to be attached to the seabed. This energy is wasted. There are plans to capture wind power […]

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Heineken invests £39 million in the UK to upgrade and reopen more than 600 pubs that have been closed for a long time. Refurbishments will be carried out in approximately a quarter (2400) of Heineken’s pubs, which make up the Star Pubs estate. They will include new lighting systems, sound systems and different furniture styles […]

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Warren Buffett has heaped praise upon Apple, despite investing billions of dollars in the iPhone maker. The investor called the iPhone “one of greatest products” and possibly “the greatest product of all times”. He said that the technology giant was a “better business” than American Express and Coca-Cola – two of Berkshire Hathaway’s oldest and […]

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Retail investors may receive a bonus share of NatWest if hold the stock for more than a year. This is part of plans by ministers to privatise some government shares of the bank in a Tell Sid style. The plan is to sell NatWest shares in a mass market, something that Jeremy Hunt, chancellor of […]

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Rishi Sunak, who announced last month a £75billion boost in funding for the British Defence Industry over the next 6 years, was disappointed. The share prices of BAE Systems, and Rolls-Royce – the two largest defence contractors in the UK – spiked by three percentage points within a 24 hour period. However, this soon dropped. […]

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Cambridge University launched a new strategy to capitalize on the research done by its academics in order to become a “world leader” when it comes to creating science-based businesses. Diarmuid OBrien, the head of the university’s efforts in commercialising the innovations that come from the academic world, stated the goal to double the number start-ups […]

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The long-delayed plan to store radioactive waste produced over decades The UK’s largest, most expensive and longest-lasting infrastructure project is expected to be a vast nuclear graveyard subsea that will hold Britain’s growing piles of radioactive material. The project has been so delayed that Britain must now excavate tunnels across 36 square kilometers of rock […]

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Some commentators spent decades predicting that the US dollar would soon lose its special status as world’s reserve currency. They will eventually be proved right and this day could be very near. China may hold the key, as usual. The dollar has historically been the preferred reserve currency due to its clear advantages over other […]

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According to Britain’s largest investment company, the economy would benefit from fewer landlords who buy-to-let. Legal and General Investment Management has slammed “unscrupulous landlords” for allegedly taking money from people and “giving them an unpleasant experience”. Bill Hughes, Global Head of Real Assets at L&G is calling for to be a radical overhaul in the […]

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The least expected effect of the Brexit was that flower exporters would need to learn Latin. This is one of the issues that British business faced in the first few weeks after the government implemented physical checks on certain food and plants imported from the EU. The traders said that they had to face far […]

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Mubadala Capital, based in Abu Dhabi, plans to invest $13.5bn over the next decade on a large biofuels project. This is part of larger plans for Brazil that also include the creation a new stock market. Asset management of the Emirati sovereign fund, which manages the funds’ assets, is increasing its stakes in Latin America’s […]

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The UK has an issue with wind. We have wind too often, which causes our turbines to spin ineffectively, wasting their energy. The solution would be to store the energy in batteries, and then release it as needed. The lithium batteries used in electric vehicles have not proven to be very durable or easy to […]

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Warren Buffett compared artificial intelligence development to that of the nuclear bomb and predicted AI scams would become the largest “growth industry” of all time. The 93-year old investor spoke hours after it was revealed that his multinational Berkshire Hathaway had sold its large Apple stake over the last three months. This led to a […]

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TV Narendran, who is a first-time grandparent, has been able to soften her personality. The CEO of Tata Steel – one of India’s leading businessmen – smiled when he revealed that he had only become a grandfather four months earlier. “And it’s great fun, because if the child cries you give them back.” The 58-year […]

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Stevenage’s new town in Hertfordshire has a secret that may surprise visitors. The “Mars Yard” is a hidden room on an industrial estate nearby, filled with rocks and red sand to simulate the surface of Mars. Airbus, the French aerospace giant, is testing ExoMars here. The rover will launch in 2028 to search for signs […]

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Donald Tang can recall exactly where he stood when he heard the first news about Shein. The former banker and his wife were dining in Hawaii at the beginning of the pandemic in 2020. Tang’s spouse complimented the waitress for her stylish facemask, and then asked where she could purchase one. Shein was the answer. […]

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Fulcrum Metals is introducing a pioneering approach to gold mining by focusing on the recovery of gold from tailings, showcasing innovation and environmental responsibility. The company's strategic moves, technological advancements, and environmental implications are discussed in an interview.

Fulcrum's decision to prioritize gold projects over uranium in Ontario underscores their adaptive strategy. They aim to leverage technology for gold extraction from tailings, potentially revolutionizing the industry while addressing environmental concerns. Their efficient and scalable gold recovery technology represents a significant advancement. Fulcrum's initiatives mark a shift towards responsible and successful mining practices in the 21st century.

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Shell is set to buy back shares worth $3.5bn in the coming quarter, after its first-quarter profits were higher than expected at almost $8bn. The company said it would pay out multi-billion dollar payouts to investors as it prepared for a shareholder fight over its climate agenda during its annual general meeting at the end […]

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The government will announce Friday that fossil fuel companies can now explore for oil or gas beneath offshore wind power sites. Campaigners say this is a further sign that ministers have abandoned the climate agenda. The North Sea Transition Authority, which regulates North Sea gas and oil production, will confirm it has granted licences to […]

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Gazprom, the Russian energy giant, has suffered its worst loss in more than 25 years after gas sales have been cut in half as a result of Vladimir Putin’s Ukraine war. The Russian president’s invasion in Ukraine, which has caused the natural gas monopoly to suffer, is evident in the loss of Rbs629bn (6.9bn), in […]

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Adele, Drake, and other world-famous music stars will return to TikTok following a resolution of a bitter dispute that had existed between their music companies and the social media application. TikTok was forced to remove all songs by Universal Music Group artists after bitter talks broke down between the two companies in February. UMG claimed […]

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Shell reported better than expected profits for the first quarter of the year. The company benefited from an improved performance in oil trading, and a rebound in the refining margins. The largest oil and gas company in Europe reported earnings adjusted to $7.7billion during the first quarter of this year. This is down from the […]

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AP Moller Maersk has seen profits plummet as the shipping industry calculates the costs of disruption caused by Houthi incursions into the Red Sea. The world’s largest shipper said the expected losses would be lower than originally estimated as the global supply chains grew accustomed to higher shipping rates and longer travel times due to […]

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The Baltimore Bridge collapse has caused two of the largest players on the Lloyd’s of London Insurance market to announce that they will be affected. Hiscox informed investors that the company expected to incur a “moderate loss” from the catastrophe. Lancashire, another insurer, admitted that it was “somewhat exposed” to the disaster, but said the […]

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The Guardian has announced a programme of redundancies as it struggles with a sharp decline in advertising. Katharine Viner sent an email on Thursday to the staff outlining plans to make a “small amount of voluntary redundancies”, as they seek to reduce costs. The note said that “the advertising recession and the challenging market conditions […]

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London’s stock market, which has been in turmoil for years, is about to get a boost from a City Property Trust that will list a £500m trust. Special Opportunities REIT is a newly-established real estate investment trust that will likely be listed in London by June. Investors should receive the prospectus within the next few […]

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The Royal Family’s bank is planning to invest abroad in order to achieve the best returns. King’s Bank is the latest to hit the London Stock Exchange with a hammer. Coutts, the bank that serves the Royal Family and operates an ATM at Buckingham Palace has announced its plans to invest abroad and move away […]

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Coffee chain blames “more demanding” customers for sudden drop in sales Starbucks shares dropped by over 16pc after a sudden drop in sales caused a sell-off. The trading update revealed that the earnings of the coffee chain had fallen by as customers avoided more expensive coffee. Starbucks sales fell in March for the first three […]

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Wickes Group maintained its annual guidance in spite of a sharp drop in quarterly sales, as consumers shied away from purchasing more expensive products and services such as bespoke cabinets. Home improvement retailer, said that like-for-likes sales were down 4.2% compared to the same period last year in a consumer environment it called “challenging”. Sales […]

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Amazon has reported an increase in profits for the first quarter of this year. Advertising and cloud computing are to thank for this. The net income of the company increased from $3.4 billion to $10.4 billion. Sales rose 13% to $142.4 billion. Amazon Web Services, its cloud division, and the largest cloud service unit in […]

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Aston Martin Lagonda’s first-quarter sales have been slow, but the group says that four new models or refreshed versions released this year will allow it to achieve revenue and profit goals over the next two decades. London’s sole listed carmaker reported that dealer deliveries fell by 26 percent to 945 units in the first quarter […]

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The sharpest fall in house prices since last summer occurred in April, as the recent rise in mortgage rates dampened demand. Nationwide, a high-street lender, reported that prices fell by 0.4% last month. This was the second consecutive monthly decline and the biggest Nationwide had recorded since August 2023. The prices are only 0.6 percent […]

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Although the UK manufacturing sector contracted slower than expected in January, economists warn that output remains constrained by consumer confidence. The final S&P Global and Chartered Institute of Procurement and Supply buying managers’ index (PMI), which is a composite of the S&P Global and Chartered Institute of Procurement and Supply, fell from 50.3 to 49.1 […]

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Next, once again, has defied UK high-street downturn and delivered better-than expected sales growth in the first three months. The fashion and homewares retailer shrugged off spring’s wet weather to post a 5.7% increase in full-priced sales for the thirteen weeks ending April 27. This was ahead of the 5 percent growth it had predicted. […]

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Councils have increased borrowing to offset funding cuts from Westminster. This has led to warnings about further council bankruptcy. The research shared before the local elections in the country on Thursday showed the pressures that councils face amid rising interest rates and budget cuts by the central government, as well as the growing demand for […]

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Mulberry’s boss has warned there is no end to the global downturn in luxury after Mulberry posted another drop in sales. Thierry Andretta is the chief executive officer of the luxury handbag maker, whose investors include Mike Ashley’s Frasers Group. He said that the UK and China trading environments “remain challenging” and they do not […]

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GSK’s full-year profits forecasts have been boosted by strong sales of an asthma medicine as well as a blockbuster vaccine for shingles. The FTSE 100 Pharmaceuticals Company posted sales of £7.4billion in the first quarter. This is up 10% or 13% excluding Covid medicine. Sales of vaccines rose by 16 percent. Shingrix, GSK’s shingles vaccination, […]

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Retail bosses warned the government about the impact of its decision to not restore VAT free shopping by foreign tourists on other industries. The manager of the O2, a venue for entertainment in Southeast London, accused the Treasury of failing to consider the impact that the scrapping of the scheme would have on UK hotels, […]

The post The bosses say that the loss of free VAT shopping is narrow-minded. appeared first on Stockmark.IT.

Tuesday marks the beginning of the physical inspection of animal and plant imports from the EU after more than three-year delays. Importers have warned trade associations that the new bureaucracy may result in significant costs for importers. This could lead to higher prices on store shelves. What are these new checks and what will their […]

The post How the UK’s new border control measures will impact animal and plant imports appeared first on Stockmark.IT.

The Conservative Party’s flagship policy of ‘leveling up’ regional economies in the UK takes two forms on the island of Anglesey. First, a £22.5mn program to make cosmetic improvements in the crumbling fabric that is Holyhead. Local government leaders are hoping that a new freeport will restore Anglesey’s fortunes following two decades of factory closings, […]

The post Can a Freeport “level up” the Welsh Island of Anglesey? appeared first on Stockmark.IT.

Last year, two Societe Generale Hong Kong traders left the group after the French bank found unauthorised derivatives trading that could have cost it money during a severe downturn in the market. confirmed Tuesday that its compliance systems had caught an “incident”, which occurred in 2023. A person with knowledge of the details stated that […]

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Official figures show that UK mortgage approvals reached their highest level in 18 months in the month of March. This suggests that the property market continues to recover, despite recent increases in quoted rates. The Bank of England announced on Tuesday that net mortgage approvals increased to 61.300 in March from 60.500 in February. While […]

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Grosvenor is the property company of the Duke of Westminster. It has made a large bet on flexible workplaces in order to meet West End tenants’ post-Covid needs and increase returns. The group plans to double the size of its flexible offices to 300,000 square feet, or about a fifth its UK office portfolio. Mark […]

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Apple has hired dozens of Google artificial intelligence experts and created a secret European laboratory in Zurich. The tech giant is building a team that will compete with rivals to develop new AI models and product. A recent analysis of LinkedIn profiles, public job listings and research papers revealed that the $2.7tn firm has been […]

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Frasers Group bought out parts of MatchesFashion from administration. The deal did not include the stock worth £80 million or the remaining 250 employees. The Sports Direct founder Mike Ashley’s retail group, controlled by Ashley, 59 years old, has announced that it purchased the intellectual property and brand rights of the failed luxury retailer, for […]

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Premier Inn’s owner has announced plans to convert underperforming restaurants into hotel rooms. This will result in the loss of approximately 1,500 jobs. Whitbread, the company that runs pub-restaurants such as the Beefeater and Brewers Fayre, will convert 112 of its lower-returning properties into new hotel rooms. It will also sell 126 other sites, creating […]

The post Whitbread reduces 1,500 jobs after opting for hotel beds instead of dining appeared first on Stockmark.IT.

BHP, a mining company, has stated that it is hoping to receive a settlement of $25.7bn, or £20bn, for the Samarco disaster of 2015, which saw the collapse of the dam leave at least 19 dead and 700 homeless, and spread unprecedented pollution throughout the rivers and landscape in Brazil. BHP announced that it had […]

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The United Arab Emirates-backed group that proposed a £600m acquisition of the Telegraph Group is walking away, after it claimed new legislation made the acquisition “no more feasible”, which triggered a new auction of the paper group. RedBird IMI, a partnership supported by Sheikh Mansour Bin Zayed al-Nahyan – the UAE vice-president – and US […]

The post Redbird IMI sells Telegraph after UK backlash appeared first on Stockmark.IT.

UK ministers announced plans on Monday to reform the benefits received by millions of people who have long-term health problems and disabilities. The move is part of an effort to reduce the spiraling welfare bill of the government. Mel Stride, the work and pensions minister, said that it was time to have “an adult conversation” […]

The post UK plans to reduce disability benefits to lower welfare costs appeared first on Stockmark.IT.

A new reactor design may help commercialize super-fuel A task force created by the King may have brought nuclear fusion one step closer with a new design of a reactor that looks like a doughnut twisted. The stellarator reactor offers new methods of controlling white-hot plasmas produced by nuclear fusion. Fusion plasmas can be so […]

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ExxonMobil oil traders in Brussels who refuse to move to London because of low pay are at risk of losing their jobs. Unions warn that staff at the multinational company are hesitant to move to London due to their dissatisfaction over “uncompetitive pay” and “lack flexibility”. A survey conducted by the company revealed that most […]

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The Body Shop was purchased by a private equity firm for just £3.5m before the collapse of . Aurelius is believed to have only paid a small amount of money to Natura, the former owners of The Body Shop, despite having agreed to a £207m purchase in November. The shortfall at Natura is primarily due […]

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According to new estimates, potholes in British roads cost more than £14billion a year, including repair costs, accidents and delays, as well as higher emissions. The Centre for Economics and Business Research, in one of its first attempts to quantify the cost of road damage on the UK economy, estimated that more than a million […]

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Shell’s oil trading activities in the United States generate about $1 billion per year, according to court documents that provide a rare glimpse into Shell’s secrecy trading division. A former Shell employee revealed the figure in court documents in Texas as part of a dispute over employment involving one of Shell’s former trading managers. John […]

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Petrofac is under increasing pressure after it announced that it would miss the next bond payment, and delayed its release of annual results. The shares of the oilfield service group, which has been struggling with cashflow, plunged sharply. They closed down 34.1%, or 7 1/2p at a new record low price of 14 3/4p after […]

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Supermarket Income Reit has made its first overseas foray after agreeing to purchase a portfolio Carrefour supermarkets located in France. In a sale and leaseback, the real estate investment trust acquired 17 “strongly performing omnichannel” grocery stores for €75.3 million. This represents a net yield of 6.3%. The stores are “long-established and successful” and occupy […]

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Philips has settled lawsuits in the United States over night-time breathing device recalls for $1.1 billion. The Dutch medical technology company stated that the resolution will end the uncertainty caused by personal injury claims, which has been a cloud over the company’s share price and the company for the past three years. It didn’t admit […]

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OpenAI, a Microsoft-backed company, has signed a deal to give its ChatGPT artificially intelligent program access to the Financial Times’ archived content. The details of this tie-up, which is described as a “strategic licensing and partnership agreement”, were not disclosed. However, it was revealed that the FT would receive an unspecified sum in return for […]

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Barclay’s Gulf-based supporters are plotting to sell the Very Group, which is the last pillar in their corporate empire. The Abu Dhabi investment company that tried unsuccessfully to buy Barclays media assets last summer is now planning to auction the retailer to pay off a refinancing debt of £1.2 billion owed by the family. The […]

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First time, union leaders have agreed to accept the end of six-day letter delivery a week. This will allow Royal Mail to make historic postal service cuts. Royal Mail has faced a number of obstacles in reducing the daily losses it incurs due to its delivery service. One of these was the Communication Workers Union, […]

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Whitehall officials are concerned that the financial collapse of Thames Water could lead to a spike in borrowing costs for the government, not seen since Liz Truss’ mini-budget chaos. They are so concerned about the wider impact of borrowing costs on the UK, including utilities and infrastructure that they think Thames should be nationalised before […]

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General Catalyst, one of Silicon Valley’s largest venture capital firms, is poised to raise almost $6bn in order to invest in start-ups. This shows that the sector can still attract investors despite a recent fundraising drought. Multiple sources with knowledge of the matter claim that the 24-year-old firm, which was an early investor in Stripe, […]

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Turkey has been in negotiations with US energy giant ExxonMobil about a multi-billion dollar deal to purchase liquefied gas, as Ankara tries to reduce its dependency on Russian energy. In an interview, Alparslan Bayraktar, the Turkish energy minister, said that Turkey, which imports almost all its natural gas needs to create a new supply portfolio, […]

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Three people with knowledge of the situation say that Paramount is planning to fire its chief executive Bob Bakish. This will add to the uncertainty in the Hollywood group, controlled by Shari, as it continues to hold merger talks with Skydance Media, and prepares to make another bid. People familiar with the matter say that […]

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Baltic Ministers warn that GPS jamming, attributed to Russia, could cause an air disaster. The interference with navigational signals forced two Finnish planes to turn back mid-flight after the interference. Separately, the foreign ministers from Estonia, Latvia, and Lithuania warned at the weekend about the increasing dangers of GPS jamming in the Baltic Sea Region. […]

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Elon Musk unexpectedly visited Beijing on Sunday, where he met China’s second-ranking leader, Premier Li Qiang. Tesla is struggling with falling sales and data security issues in the world’s largest car market. Musk arrived in Beijing on Sunday and met li. The electric vehicle maker’s CEO was looking to refocus Tesla on artificial-intelligence with a […]

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Grocers are following in Amazon’s footsteps in their pursuit of the retail ‘holy-grail’ Spotify users are known to flood social media in the last weeks of the year with their favorite songs, artists, and genres. Spotify Wrapped is a marketing tool that allows users to boast about their listening habits, or lament the fact that […]

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