News Corporation announced an innovative, multi-year deal to provide news content from their publications to OpenAI. OpenAI is one of the leaders in artificial intelligence. The multi-media group, which includes The Wall Street Journal and The New York Post, has said that OpenAI is allowed to use content from News Corp titles to answer user […]

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HSBC was fined over £6.2 million by the Financial Conduct Authority for failing to treat customers in arrears and financial difficulties. This put about 1.5 million people’s financial futures at risk. The Financial Conduct Authority stated that between June 2017 and September 2018, the bank failed to consider the circumstances of some customers when they […]

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Anglo American’s efforts to maintain its independence have been boosted by an Australian miner’s interest in purchasing the company’s stakes in two manganese mining operations. The FTSE 100 company is trying to simplify its operations to ward off a takeover bid from BHP. Anglo American rejected BHP ‘s third and improved offer of £29.34 per […]

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Leading British technology company is restructuring their balance sheet. This fuels speculation about a possible deal with SoftBank – one of the largest investors in this sector. Graphcore, a Bristol-based semiconductor company, has announced in its most recent financial statements that it intends to cancel the share premium account worth $723m. The business would have […]

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Elon Musk’s xAI, a start-up in artificial intelligence, has received new funding from Silicon Valley venture capitalists Lightspeed Venture Partners and Andreessen Horowitz. Sequoia Capital, Tribe Capital and Sequoia Capital have also backed the company. According to sources familiar with the negotiations, investors have agreed to join xAI’s latest financing round in which Musk hopes […]

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Nvidia announced record quarterly revenues on Wednesday, fueled by the explosive growth in artificial intelligence adoption among corporations. Jensen Huang is the founder and CEO of Nvidia. He said, “The next Industrial Revolution has begun. Companies and countries are working with Nvidia to create a new commodity – artificial intelligence.” In the first quarter fiscal […]

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Owners of Toblerone Milka and Oreo were fined €337.5m (£288m ) in the EU for anti-competitive behavior. The US food group formerly known as Mondelez, is the largest confectionery company in the world. It owns Ritz biscuits and TUC chocolate, Cadbury and Cote D’Or, and the coffee brands JAG Jacobs Velours Noir. According to the […]

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The Federal Aviation Administration is preparing to receive the plan of action from US planemaker Boeing to address issues related to safety. Mike Whitaker, FAA administrator , gave Boeing 90-days to create a comprehensive plan for addressing “systemic issues with quality control” and prohibited it from increasing 737 MAX manufacturing. Boeing is facing increasing questions […]

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Royal Mail failed to publish their financial results in time due to audit delays. It is preparing for a £3.5bn acquisition by a Czech billionaire. International Distributions Services, the parent company of IDS, was supposed to release figures for its last financial year at 7am Thursday morning. However, this did not happen. Just before 2pm […]

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Hargreaves Lansdown shares rose the most since a decade ago on Thursday, after a surprise bid led to speculation about a bidding battle. The FTSE 250 company’s shares jumped nearly a fifth in one day, marking the largest rise since 2014. This was after the company rejected an initial £4.7bn offer from CVC Capital Abu […]

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US authorities launched a legal action to dissolve Ticketmaster following failed ticket sales by artists such as Taylor Swift, Bruce Springsteen and others. This sparked accusations of anticompetitive behavior. The US Justice Department filed a lawsuit in federal court against Ticketmaster, its parent company Live Nation and the group for illegally increasing ticket prices to […]

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A general election that was held earlier than expected has cast doubt on UK government plans for a mass public sale of NatWest share. Rishi Sunak (UK Prime Minister) announced on Wednesday that an election would be held on July 4. This marked the beginning of a “heightened sensitive” period, during which government officials and […]

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Nvidia’s revenue increased 262 percent in the last quarter due to record sales of artificial-intelligence chips. This growth exceeded expectations and the company’s chief executive stated that the blockbuster growth would continue this year, with the introduction of a new chip line. Jensen Huang, the CEO of the company, told investors that the new Blackwell […]

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Rishi Sunak took a big gamble when he announced an election on July 4. His Conservatives will now be involved in a six-week campaign, with their party trailing Labour more than 20 points. Sunak, standing in the rain-lashed Downing Street and declaring, “Now is Britain’s moment to choose its own future,” set his sights on […]

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Financial regulators have fined Citigroup £61.6m after their internal systems failed in preventing a fat-fingered Banker from causing a Flash Crash by placing erroneously more than £1bn worth of orders. The trader intended to sell $58m worth of equities on 2 May 2022. The banker entered the transaction incorrectly into Citigroup’s Order Management System, resulting […]

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Anglo American rejected a third attempt at a takeover by BHP, after the Australian firm sweetened its bid in an effort to create a mining giant. BHP announced earlier this week that it had made a “final and increased” bid for Anglo of £31.11 per share, which values the FTSE100 company at £38.6bn. Anglo rejected […]

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Marks & Spencer’s boss says he hopes for a “growth tale” in the years to come after the retailer, which has been revitalised, won more than 1 million new customers to boost its profits by 41%. Stuart Machin, chief executive of M&S, stated that it was the “beginnings of a brand new M&S”. He added […]

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Jeremy Hunt’s plans to cut taxes before the election have been stymied after higher benefits spending and lower tax revenues pushed government borrowing over £20bn in July. The Office for National Statistics said that the Budget Deficit, the gap between tax receipts and public expenditures was £1.5bn more than it had been a year ago. […]

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Tesla sales in Europe have plummeted after countries such as Germany and France cut subsidies to electric vehicles. In the first four month of the year, sales at the Western leader in electric cars dropped by 8pc throughout Europe and the UK. Tesla’s sales grew by 78pc during the same time period last year. Sales […]

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Looming election and higher-than-predicted price rises push expectations back to November Investors are pushing back the expectation of a rate cut in this summer, even though Rishi Sunak has hailed an inflation drop as a major moment for Britain. According to the Office for National Statistics, prices rose by 2.3pc between April and the previous […]

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Mike Ashley has learned that he is considering a stake in the Princesshay estate of Exeter. This would be the first joint-venture between the retail mogul, and King’s Property Company. A retail property source revealed that Frasers Group, the FTSE-100 retailer owned by Ashley in majority, is “the frontrunner” for buying a 50% interest in […]

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British Land sold its Meadowhall shopping center in Sheffield to a joint venture partner, a move that highlights the steep decline in retail property prices over the last decade. Norwegian oil fund paid £360m for British Land’s 50% stake. This gives it control over the 1.5 million sqft shopping mall with more than 300 shops […]

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Mastercard and Visa are facing a regulatory crackdown. The payments watchdog has said that the companies have too much dominance and were able to increase the fees they charge British business unchecked. The Payment Systems Regulator revealed Tuesday that it is proposing a number of interventions following a review that had been conducted. It was […]

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Microsoft announced an improved artificial intelligence-powered personal assistant that supports the work of all departments within a company without requiring direct commands. The tech giant is stepping up its competition with Google in creating AI products for business. The most valuable company in the world said that its “Copilot”, feature, would be able now to […]

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Bank of England Governor said that he expects “quite a fall” in the inflation rate to be around the 2 percent target level when the official figures are released on Tuesday. He also predicted that the central bank will cut interest rates in the near future. Andrew Bailey says that falling energy prices should help […]

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Amazon’s cloud computing division has decided to delay the use of Nvidia’s most advanced “superchip” in order to wait for a newer, more powerful model. Investors are worried about a drop in demand during Nvidia’s $2.3tn product cycle. In March, Silicon Valley chipmaker announced the launch of a new processor generation dubbed Blackwell. This was […]

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Starbucks is struggling. There are a number of factors that may have contributed to the decline in sales, including concerns over the company’s position on Gaza and broader economic issues. Even though there are coffee shops all over the United States, the consumption is not what it was. In the 1940s the average American drank […]

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Cazoo the online car dealer, once valued at $8.5bn (£6.3bn), is now in administration and 200 jobs are at risk. Teneo has appointed administrators to its business. The company was founded by Alex Chesterman. Chesterman is a serial entrepreneur, who launched Zoopla, a property website, and LoveFilm, whose predecessor Netflix. Teneo has begun the search […]

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AstraZeneca is the largest drug manufacturer in Britain. It has set a bold goal to achieve $80bn ($63bn) by 2030 through treatments for cancer and rare diseases. Pascal Soriot, the chief executive of the company, presented the growth plan to shareholders in Cambridge, England. He said that 12 new drugs, including five cancer treatments, would […]

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Santander UK’s chief executive is an outlier at a time when bank bosses have tightened up on the working from home. Mike Regnier, who made home-working a condition for taking the job at JP Morgan in 2022, is a similar person to Jamie Dimon, who called home-working an “aberration”. He claims he would not have […]

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The Office for National Statistics will release its April inflation statistics on Wednesday. It is expected that the data will show prices rising at their lowest rate since summer of 2021. For economists a rate of inflation of around 2% is significant. It marks a long overdue return to the Bank of England target. The […]

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The Bank of England’s departing deputy governor hinted on Monday that UK interest rates may be reduced this summer. This would add to the expectation of a first cut in borrowing costs as early as next month. Ben Broadbent said the Bank’s deputy Governor for Monetary Policy, Ben Broadbent, stated that, if the economy develops […]

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Trump Media and Technology Group (the owner of Donald Trump’s social networking website Truth Social) lost more than 300m dollars last quarter, according its first earnings report since becoming a publicly listed company. The company reported a $327.6m loss for the three months that ended on 31 March. This included $311m of non-cash costs related […]

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Microsoft wants laptop users so familiar with its artificial-intelligence chatbot, that it remembers everything they do on their computer and helps them figure out what to do next. Software giant announced an updated version of Copilot on Monday, its AI assistant. It faces increased competition from rivals who are pitching AI technology which can create […]

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A report says that the sectors of global economy most exposed to artificial (AI) have seen a marked increase in productivity and are commanding a significant wage premium. A PwC report found that productivity growth in areas of the economy with the highest AI penetration was five times faster than in sectors less exposed to […]

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South West Water’s owner has announced that normal service is now available to 85% of their customers, after unsafe drinking led to over 100 cases of waterborne diseases in Devon. It also increased its dividend payout to its shareholders. South West Water warned 16,000 households and business owners not to drink tap water without first […]

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Bouygues, a French conglomerate, is trying to block Morrisons from selling its petrol forecourts to them in a heated dispute over the rights to operate electric vehicle chargers on the sites. Equans EV Solutions is a subsidiary company of Bouygues – a 13 billion euro (11 billion pounds sterling) multinational with interests ranging from television […]

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BYD, the Chinese electric car giant, first entered the British automobile market. It’s now taking on the traditional London bus makers. Sources said that the Go-Ahead Group will award a contract for more than 100 double-deckers powered by all-electric technology at a cost of around £400,000 per vehicle — £100,000.000 less than UK competitors. BYD […]

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Another week of fascinating developments in the field of artificial intelligence. OpenAI, based in San Francisco, unveiled a new model that can translate languages in real-time and tutor children in algebra. Sundar Pichai, the Google CEO, hired a concert hall in Mountain View with 22,000 seats to show two hours of technological advances that he […]

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Applied Nutrition is preparing to float for more than £500 million, a sign that the London stock exchange, which has been battered by the recession, may be beginning to recover. Tom Ryder, 40, founder of Liverpool’s Applied Nutrition has met with 27 City fund managers over the past few weeks in preparation for a possible […]

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Last week, on a busy afternoon, the Galeries Lafayette department store in Paris was filled with shoppers from around the globe who came to buy designer clothing, shoes, and handbags. One of the most popular spots in this temple of fashion was not Chanel or Dior, but the brightly lit “Detaxe”, where tourists could take […]

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The 4,200-acre Profen mine, located 45 minutes southwest of Leipzig in east Germany, stretches to the horizon. The Nazis opened the mine in 1941, forcing hundreds of residents to move from six villages. The mine produces around eight million tonnes of brown coal, which is highly polluting. Environmentalists are outraged by the mines, including Profen. […]

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Lupita Nyong’o, Black Panther star, shone under the spotlights when she walked on the Oscars stage two months ago, dazzling in her silver dress and diamond bracelets, earrings and rings. De Beers provided the actress with a total of 41 carats. Diamonds are a great choice for fashion statements. The glitzy De Beers photo shoot […]

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Virgin Group, Sir Richard Branson’s company, is returning to Britain’s railways. The Virgin Group will launch services on the mainline west coast route — the route the billionaire had been kicked off five years earlier by ministers. Virgin Trains has submitted a bid to run 10 carriage trains between London Euston, Manchester, Liverpool, and Glasgow. […]

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French video game giant Ubisoft Entertainment has taken a daring leap into the world of live service gaming, but recent financial setbacks and negative reactions from players suggest that this move may not have been as successful as anticipated. What is Live Service Gaming? Live service gaming, also known as ‘games as a service’ (GaaS), […]

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In a move that sent Reddit (NYSE:RDDT) shares surging by 14% in after-hours trading, the social media platform announced a groundbreaking partnership with OpenAI, the creator of ChatGPT. This collaboration is set to revolutionize the way content is curated and conversations are facilitated on the Reddit platform. The partnership entails the integration of Reddit’s vast […]

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Avation PLC (LSE:AVAP) recently made headlines with its announcement to sell two ATR 72-600 turboprop jets to an Americas-based airline, securing net proceeds of over US$10 million (£7.9 million). The commercial aircraft leasing company is set to deliver the two jets by the end of this year and early next year, showcasing its commitment to […]

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The potential takeover of Royal Mail by Czech billionaire Daniel Kretinsky has sparked discussions around national security concerns. Chancellor Jeremy Hunt has stated that if shareholders accept the £3.5 billion offer, the government will closely analyze the situation from a security standpoint. Hunt emphasized the importance of foreign investment in British companies, noting that it […]

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Tesla Inc (NASDAQ:TSLA) has scored a victory in its efforts to expand its Berlin factory, despite facing considerable opposition from environmental activists. The decision to extend its gigafactory in Gruenheide, Germany, was recently approved by local councillors, as reported by German media outlets. The proposed expansion of the Tesla factory has been met with resistance […]

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Arecor Therapeutics PLC, listed on AIM as AREC, has been making waves in the healthcare industry with its innovative approach to diabetes and obesity treatments. In a recent interview with Proactive Investor’s Stephen Gunnion, CEO Sarah Howell discussed the company’s impressive performance in 2023 and exciting plans for the future. Strategic Growth and Global Partnerships […]

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Ocado Group PLC (LSE:OCDO) has long been a household name in the UK, known for its online grocery retail business in partnership with Marks & Spencer. However, behind the scenes, Ocado is striving to establish itself as a technology company, a lesser-known facet that has interesting implications for its future. Identity Crisis: Tech or Retail? […]

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Walmart has surpassed Wall Street’s expectations for profit and sales and increased its forecasts this year thanks to an increase in online sales. The largest American retailer, which has a large number of stores in the United States, and is often regarded as a bellwether to the economy, announced that its revenue for the three-month […]

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The oldest American equity index, the Dow Jones Industrial Average, broke through the 40,000 mark for the first-time on Thursday. It then slipped back to its second highest closing level. The Dow Jones Industrial Average, which began with 12 companies in New York in 1896, reached 40,040 in morning trading but reversed these early gains […]

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Shein will list in London in the next few months, as tensions between Washington DC and Beijing have slowed down plans to launch a major IPO in New York. Donald Tang, the executive chairman of the Singapore-domiciled company, said in an interview that the Singapore-domiciled firm had made “progress”, but not enough to convince US […]

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Sony Music has sent warning letters to over 700 artificial intelligence developers around the world and music streaming services in an effort to combat tech groups that are ripping artists off. The Sony music letter, seen by many, prohibits AI developers using the music of artists like Harry Styles and Adele, and also opts out […]

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BT’s first female boss, who pledged to reduce costs by £3bn and heavy investments in broadband upgrades, led the company to its best day since the dotcom bubble. Allison Kirkby who became the new chief executive officer of the former state-monopoly in February has promised to save more money by the year 2029, after the […]

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Unilever is keeping its Russian ice-cream business, despite plans to sell its frozen dessert brands. Magnum and Ben & Jerry’s owner, Unilever, is considering a possible sale or IPO for its ice-cream brands. These brands generate annual revenues of about €8bn (£6.9bn)  and are valued at around €8bn. Unilever announced on Thursday that it would […]

The post Unilever will continue to make ice cream for Russians as the country is left out of Unilever’s spin-off plan appeared first on Stockmark.IT.

The biggest British defence companies are in line to bid for a £1.6bn Royal Navy Supply Ship contract, amid fears that the company tasked with fulfilling it may collapse. A Government source confirmed on Thursday that rival companies will be asked to manufacture three Fleet Solid Support warships if Harland & Wolff – the Belfast-based […]

The post Rivals line up for a £1.6bn Navy Contract from Titanic Shipyard appeared first on Stockmark.IT.

Chevron, the US oil giant, has announced that it will leave the North Sea after more than 55 years. This announcement comes just a day after Jeremy Hunt rejected industry requests for support in a private meeting. Chevron announced that it was leaving the region after a review of its global operations. The company wanted […]

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Ministers have agreed to start digging a 650ft deep pit in England this decade. The facility has not yet been allocated a location, but it will house some of the 5m tonnes of waste generated by nuclear power plants over the last seven decades. The 17 nuclear waste storage plants currently operating around the country […]

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In a dispute that has cast doubt on the future of Harland & Wolff, the Belfast shipbuilder responsible for the Titanic, the UK government is divided over a financial assistance package. Whitehall officials say that the Treasury is hesitant to approve a loan guarantee facility of £200mn backed by taxpayers, whereas three rival Ministries — […]

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Eurostar is planning to purchase up to 50 new trains, and it’s considering adding more international routes to London in order to capitalize on the “huge demand” of rail travel throughout Europe. Gwendoline Czenave is the chief executive officer of the train operator. She told T that the company was “in a race” to expand […]

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Burberry’s profits fell by 40% over the past year due to a general slowdown in luxury goods demand that has affected sales in Asia, and Americas. In its preliminary results published on Wednesday, the high-end UK retailer of fashion posted a profit before tax of £383m. This is a 40% decrease from the £634m it […]

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Private landlords are claiming to be selling their properties, and some blame the uncertainty created by the government’s delays in reforming rental laws. According to official figures, more than 4/10 families that have requested temporary housing from councils after their private landlord terminated their tenancy were in a predicament due to the fact that the […]

The post Landlords sell up, leaving 2,000 homes a month facing homelessness in England appeared first on Stockmark.IT.

The UK’s most busy Brexit post is holding up to 20-hours of trucks carrying plants and perishable foods from the EU due to IT system failures. Businesses have called the new border controls by the government a disaster after IT failures caused lorries to be held up for long periods of time, reducing their shelf […]

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The British technology firm Raspberry Pi confirmed its intention of flotation in the UK. This is a major boost for the London Stock Exchange. Cambridge-based company, best known for its low-cost computers that help children learn computing, is a UK tech success story. It has sold 60m units globally since 2012. The company announced in […]

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Thousands of UK companies have exploited their corporate power to increase profit margins since the pandemic, redistributing wealth from employees to employers and shareholders, according to the biggest study yet of data since 2019. A trawl through the accounts of 17,000 companies by the trade union Unite found pre-tax profit margins were 30% higher on […]

The post UK firms are accused of profiteering after a study found that margins increased 30% following the pandemic. appeared first on Stockmark.IT.

The owner of Royal Mail backed an offer of £3.5bn from a Czech millionaire for the postal service after he sweetened his takeover plan, creating a headache for the Government. Royal Mail’s parent, International Distributions Services, , rejected last month a preliminary offer of 320p per share or £3.1bn from Daniel Kretinsky. The part-owner and […]

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British digger manufacturer JCB, owned and controlled by billionaire Bamford Family, continued to manufacture and supply equipment for Russia’s market even after claiming it had stopped all exports due to Vladimir Putin’s invasion Ukraine. Russian customs records reveal that JCB – whose owners are major Conservative Party donors – continued to offer new products to […]

The post JCB supplied equipment to Russia for months after saying that exports had stopped appeared first on Stockmark.IT.

China may buy millions of unsold homes as part of an ambitious plan to address its current property crisis. Beijing has reportedly been consulting with officials from local governments on proposals which would allow state-owned companies to buy empty homes in bulk from developers who are under pressure. Bloomberg stated that the proposals were still […]

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Anglo American has decided to delay and drastically reduce the Woodsmith Fertiliser Mine under the North York Moors. This decision could affect 1,650 British jobs. While Duncan Wanblad is Anglo’s Chief Executive, he insists that the business will still be “stonking” in the future, he reduced capital expenditures from $3 billion to $1 billion. Budgets […]

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Virgin Money UK shareholders will vote on the proposed £2.9billion takeover of Nationwide Building Society next week without having seen the audited results from the last half-year due to delays caused by the change in auditor. PwC resigned from its position as auditor due to an unidentified “conflict” of interest arising out of the Nationwide […]

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The United States took another step to end an era of “free trade” with China, by increasing tariffs on imports of “green” technology and other products. This includes a 100% tax on electric cars. The White House stated that the tariffs are necessary to protect American manufacturers in key areas from being harmed by dumping […]

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Global carmaker Stellantis will sell electric cars produced by its Chinese partner Leapmotor to Europe, including in the UK. It is criticizing Joe Biden for his decision to impose 100% tariffs on Chinese EVs that are imported into the US. Stellantis, a company that owns Fiat, Peugeot, and Vauxhall brands, will begin selling Leapmotors in […]

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One question that has been nagging me for the past year and a bit since the launch chatGPT is: If AI can do it, why does my phone’s Assistant still perform so poorly? The gulf between the two widened even more on Monday when OpenAI released a new model named GPT-4o (the ‘o’ is for […]

The post OpenAI’s GPT-4o model promises to improve smartphone assistants appeared first on Stockmark.IT.

The drug has been in the news for a number of years, firstly as a treatment for type 2 diabetics and then as an aid to weight loss. Semaglutide, also known as Ozempic and Wegovy, could have benefits for a variety of medical conditions ranging from dementia to addiction. GLP-1 and semaglutide slow the rate […]

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The deputy UK foreign secretary said that nearly 40% of dirty money is sent through the City of London, and other Crown dependencies. Andrew Mitchell said the Foreign Office will be putting pressure on crown dependencies, overseas territories and other countries to comply with UK legislation establishing public registers for beneficial ownership. Since the House […]

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Investors bet a record £300mn against BT as the new chief executive Allison Kirkby is under pressure to reverse BT’s falling share price. According to public disclosures, Canada Pension Plan Investment Board, BlackRock Investment Management and hedge funds such as AKO Capital and Kintbury Capital have all placed bets against the FTSE 100. According to […]

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Novo Nordisk wants to increase the use of its blockbuster treatments. It is testing their weight loss drugs to see if they reduce alcohol consumption and treat alcoholic hepatitis. The Danish pharmaceutical company started recruiting for a midstage trial to see if 240 patients with alcoholic liver diseases can be treated by semaglutide (the active […]

The post Novo Nordisk will test the effects of weight-loss drugs on alcohol consumption and liver disease. appeared first on Stockmark.IT.

Alphabet, the owner of Google, has launched an artificial intelligence agent capable of answering real-time questions across audio, video and text. The move is part of several initiatives to demonstrate Alphabet’s AI prowess and dispel criticisms that it had fallen behind competitors. Sundar Pichai, the CEO of Silicon Valley giant, demonstrated Project Astra, a new […]

The post Google’s latest AI advancement, ‘Project Astra,’ is now available. appeared first on Stockmark.IT.

Jeremy Hunt said that the UK could create a $1tn domestic tech giant to compete with Microsoft or Google. He dismissed foreign bids on London-listed companies, saying they were “part of capitalism”. The chancellor is leading a regulatory revamp to make it easier to start-ups access funding to fuel their growth, and to stem the […]

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US semiconductor giant Intel entered exclusive discussions with Apollo Global for the financing of an $11bn chipmaking facility in Ireland. Large corporations are increasingly turning to private capital groups to fund expansion projects instead of banks. Intel is in discussions to raise funding for an aggressive buildout in semiconductor fabrication plants. This will allow it […]

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After a difficult period for the food and beverage division, Pret A Manger’s owner plans to increase its push into insurance . JAB Holding has announced plans to create a global platform for insurance and establish a business in asset management. The company also owns Krispy Kreme donuts and the beauty group Coty. Anant Bhalla […]

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After Emmanuel Macron’s charm offensive, the two largest pharmaceutical companies in Britain have committed £430m to France. AstraZeneca, GSK and other pharmaceutical companies have pledged to upgrade their facilities within the country in accordance with a major investment program announced by the French President on Monday. AstraZeneca is investing €365m (£314m), while will invest an […]

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BT said that it uses artificial intelligence more to detect and neutralise cyber threats targeting businesses. The £10.5bn Group aims to grow its business by protecting customers against online criminals. It has patent technology that uses AI for analysing attack data, allowing companies to protect their IT infrastructure. Hacking attacks on British businesses are commonplace. […]

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SoftBank, a Japanese tech investor, made a profit in the second quarter of ’18. It is trying to improve its performance before it makes large investments in artificial-intelligence. SoftBank has reported a net profit of 231bn (£1.18bn), compared to a loss of 57.6bn last year. Financial results were published on Monday. The investor’s third annual […]

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The traditional UK mortgage term is 25 years. However, with the escalating house prices, and now dramatically higher borrowing costs, many people are “going long” on home loans. Steve Webb, former minister of pensions, revealed on Monday that young homebuyers are increasingly being forced to gamble with retirement prospects when they take out ultra-long mortgages […]

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A council under scrutiny for a series of disastrous investments altered its rules to allow it to invest in the “junk bonds” fund of a Monaco-based financier. Warrington Borough Council removed a restriction against investing in high-risk bonds to make the deal happen. The council has been accused for failing to consult properly with elected […]

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The shares of the video game retailer GameStop nearly doubled on Monday when the day trader linked to the meme stock mania in January 2021 appeared on X, the first time in 3 years. Keith Gill (also known as Roaring Kitty and DeepF***ingValue) posted a drawing showing a man in a chair leaning backwards. This […]

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The FTSE 100 mining company rejected a sweetened £34 billion bid from BHP to acquire its Anglo American rival as “highly inattractive”. BHP revealed that it submitted a revised proposal for Anglo on Tuesday. However, just like the initial £31 billion proposal made last month, this is subject to Anglo’s South African iron ore and […]

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The new weight-loss jab outperforms its competitors, including Ozempic. It helps obese patients lose four stone in under a year. Retatrutide acts on three receptors in the mind, “turbocharging”, calorie burn while making people full. Weight-loss injections currently available only suppress appetite. The new treatment speeds up metabolism. Participants in a study presented at the […]

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The fast-fashion retailer Shein has accelerated its plans to float a record breaking in London. Reports claim that the Chinese-founded online retailer chose London as its listing location, after deciding against New York due to tensions between China & US. Shein is a Singapore-based company that plans to inform China’s securities regulator about the change […]

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Alibaba is leveraging its cloud computing infrastructure in order to become the leading investor for China’s artificial intelligence start ups. It offers them credits that they can use to access the limited network resources required to train models, rather than traditional cash-for equity funding. By investing in Moonshot, Zhipu MiniMax, and 01.ai, the Chinese ecommerce […]

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Apple has been warned by British newspaper groups that imposing a “web eraser”, a tool used to block ads, would threaten the financial viability of journalism. Apple will include a privacy feature based on AI in its Safari browser with the next iOS 18 update. This feature will remove unwanted ads and other website content. […]

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Grant Thornton expects to earn £46mn from the administration of Greensill Capital. This is one of the costliest insolvency processes undertaken in the UK. According to a report filed with Companies House last month, the accounting firm informed Greensill creditor that it expected to charge an additional £8.5mn of fees in the next year, which […]

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The first footage of Houthi Rebels hijacking cargo ship Galaxy Leader on the Red Sea in November last year sent shockwaves throughout the trade world. The coordinated attack against the ship, owned in part by Israeli billionaire Abraham Ungar was the beginning of a six month campaign by Yemeni militants terrorizing western vessels that use […]

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In 2019, when sommelier Erika Haig opened the UK’s very first independent sake bar in London’s West End, passers-by were confused by the drink advertised on the window and tried to order milkshakes. Haigh has opened Mai Sake in order to offer tastings and meals. You can go on a London sake bar crawl and […]

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After a significant cut in government shareholding, a leading US investor began to pour cash into NatWest after allaying fears of state interference in the bailed out banking group. Los Angeles-headquartered Capital Group, which is one of the world’s oldest and largest investment firms, with more than £2.5tn under management, has bought more than PS110m […]

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It has been revealed that South Korea’s nuclear state developer discussed the construction of a multi-billion-pound plant in Wales, with the UK government. Kepco, South Korea’s largest utility company, has had early-stage talks with Westminster officials regarding the development of the Wylfa Newydd on the island Anglesey. As part of the UK-South Korea civil energy […]

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Uber’s Chinese competitor is now laying the foundations for entry into the UK. This comes three years after was forced to stop plans to launch services in British cities. Didi Global acquired operating licenses in Rotherham and Rochdale in the last few months, allowing it to provide rides in Britain. The company also obtained planning […]

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