| |
| 22-09-2024 |
|
|
Welcome to the weekly international news from Stockmark.IT - covering the news that affecting international financial markets.
|
|
Exploring New Frontiers: Oil Exploration Updates from Pantheon Resources PLC
Despite a rapidly declining share price, Pantheon Resources PLC appears to be strategically positioned to advance its Alaskan oil and gas projects, with a clear focus on minimizing shareholder dilution and maximizing value. The upcoming Megr-1 well and the gas sales initiative with AGDC are pivotal to the company's plans. Investors can expect further updates as these initiatives progress, with the potential for significant value creation in the near term.
The post Exploring New Frontiers: Oil Exploration Updates from Pantheon Resources PLC appeared first on Stockmark.IT.
|
Thames Water is rewriting loans to remain afloat.
Thames Water, whose future is at stake, has revealed that it is trying to buy more time by rewriting its loan agreements with lenders. Sources claim that the troubled water company is trying to extend its “liquidity flight” after admitting to only having enough cash to run operations for 8 months. As part of its […]
The post Thames Water is rewriting loans to remain afloat. appeared first on Stockmark.IT.
|
Avantis grows as demand for VR in US Schools increases
With the virtual-reality headsets from Avantis, students can travel back to the trenches of World War I or even into outer space. To oversee the Gloucester-based firm’s fastest-growing US market, real-world sales teams still visit schools and talk to teachers in all states. Huw Williams is the CEO of a British company that specializes in […]
The post Avantis grows as demand for VR in US Schools increases appeared first on Stockmark.IT.
|
Journalists protest planned sale of Observer by Tortoise Media
Journalists from the Guardian Media Group are revolting against a planned sell-off of The Observer, citing concerns that this could affect staff financial security. The National Union of Journalists voted to condemn the “flawed analyses” that led to the decision to sell the Sunday title to Tortoise Media. According to a person in attendance, the […]
The post Journalists protest planned sale of Observer by Tortoise Media appeared first on Stockmark.IT.
|
Gusbourne Wine Harvest Hit by “challenging Conditions”
Lord Ashcroft’s Gusbourne estate, which is controlled by him, may be for sale at a high price but the harvest this year will face “challenging vineyard conditions”. After building up strong stock, the group does not expect any interruptions in supply. Mildew had affected many vineyards in West Sussex. The company said that they would […]
The post Gusbourne Wine Harvest Hit by “challenging Conditions” appeared first on Stockmark.IT.
|
Nearly 100,000 Lifetime ISA savers are hit with high withdrawal fees
In 2023-24, the total withdrawal charges for Lifetime Isa will be worth £75.2 million — a nearly 40% increase from last year’s total of £54.3 million . Finance experts say that the figures released by HM Revenue & Customs highlight the need for reforming Lisas which helps people save up for their first house or […]
The post Nearly 100,000 Lifetime ISA savers are hit with high withdrawal fees appeared first on Stockmark.IT.
|
Close Brothers prepares for car finance crisis by selling wealth unit
One of Britain’s largest merchant banks sells its wealth management division for up to £200m to strengthen its balance sheet in preparation for possible regulatory action against its motor finance business. Close Brothers, an American private equity company, will receive £172m in cash up front after it announced on Thursday that they had agreed to […]
The post Close Brothers prepares for car finance crisis by selling wealth unit appeared first on Stockmark.IT.
|
Next warns about store closures following equal pay ruling
Next warned it may be forced to shut down stores following a legal victory over equal pay. The retailer is expected to lose more than £30million after the landmark case. In a recent report, the FTSE 100 clothing chain and homewares company said that the Equal Pay ruling could have an impact on whether or […]
The post Next warns about store closures following equal pay ruling appeared first on Stockmark.IT.
|
Ocado raises sales outlook after summer surge
Ocado’s sales outlook has been raised for this year due to the stronger summer trading. The grocery delivery business also gained more customers. Ocado Retail reported a 15,5% increase in revenue during the 13 week period leading up to the beginning of September. This is a significant improvement from the £570 million reported a year […]
The post Ocado raises sales outlook after summer surge appeared first on Stockmark.IT.
|
Interest rates in the UK held at 5%
After voting 8-1 to not change monetary policy, the Bank of England held interest rates at 5%. The nine-strong monetary committee announced that it would adopt a “gradual” approach to lowering the interest rates, as the inflation rate is expected to rise for the remainder of the year. The market expected the decision to be […]
The post Interest rates in the UK held at 5% appeared first on Stockmark.IT.
|
Experts say UK faces a ‘tsunami’ of missed cancers in the wake of pandemic.
Leading experts in the UK have warned that there will be a “tsunami” of cancers missed, following an international study which found that diagnosis rates dropped sharply during this pandemic. The preliminary figures of the International Cancer Benchmarking Partnership were presented to the delegates at World Cancer Congress, Geneva. They compared data from Australia, Canada […]
The post Experts say UK faces a ‘tsunami’ of missed cancers in the wake of pandemic. appeared first on Stockmark.IT.
|
The rise in chocolate prices may scare shoppers this Halloween
The price of chocolate has risen by 11% over the last year, far exceeding the increases in other food items across UK supermarkets. According to Which?, consumers who open their doors for trick-or treaters may decide to reduce spending on 31 October. The cost of chocolate has risen sharply over the past year, far above […]
The post The rise in chocolate prices may scare shoppers this Halloween appeared first on Stockmark.IT.
|
|
Stuart Rose, former M&S boss, to lead struggling Asda after co-owner steps down
|
Boeing furloughs a ‘large’ number of employees during factory strike
Boeing CEO announced on Wednesday that “a large number of” employees would be furloughed to save money during the union machinists’ strike that began last weekend. Kelly Ortberg said that the layoffs were temporary and would affect managers, executives and other employees. Around 33,000 Boeing workers in the Pacific North-West started a strike Friday, after […]
The post Boeing furloughs a ‘large’ number of employees during factory strike appeared first on Stockmark.IT.
|
|
TGI Friday UK’s future is in doubt after owner announces plan to enter into administration
|
Shadow MPC: Hold interest rates, but increase bond sales.
According to the shadow monetary committee, Bank of England’s interest rate should remain unchanged at 5% this month. It also needs to accelerate its gilt sales. The shadow MPC, which is responsible for deciding the interest rate on Thursday, voted unanimously to maintain the current base rate after the first rate reduction in four years […]
The post Shadow MPC: Hold interest rates, but increase bond sales. appeared first on Stockmark.IT.
|
Legal & General buys Cala, a housebuilder for £1.16bn
Legal & General’s new CEO, the FTSE 100 listed financial services company, made his first major strategic move when he struck a deal with its housebuilding division for £1.16billion in cash. L&G agreed to sell Cala Homes, the London-based housebuilder that was previously owned by L&G, to Sixth Street Partners. Patron Capital is a buyout […]
The post Legal & General buys Cala, a housebuilder for £1.16bn appeared first on Stockmark.IT.
|
Tupperware’s party is over, as the company files for bankruptcy
Tupperware’s airtight containers, which have become synonymous for food storage, appear to be on their way out. The American kitchenware firm has filed for bankruptcy in its struggle to survive. Tupperware Brands is asking the court for permission to sell the company while it’s still operating. The brand shot to fame in the 1960s & […]
The post Tupperware’s party is over, as the company files for bankruptcy appeared first on Stockmark.IT.
|
UK economy loses £25bn per year due to shrinking workforce
According to a report on Britain’s missing workers, the UK workforce is shrinking faster than it has in the past 40 years, costing £25 billion annually and adding $£16 to fiscal pressures to the public finances. The UK has one of the most serious economic inactivity issues in the developed world. A two-year study of […]
The post UK economy loses £25bn per year due to shrinking workforce appeared first on Stockmark.IT.
|
Chinese owners claim that British Steel Works has never turned a profit.
The Chinese owners of British Steel Works at Scunthorpe revealed that they had not made any profit since they saved the company. British Steel Ltd., which is owned by Jingye since 2020, caught up with its annual accounts after two separate disputes over audit fees. The company reported losses of £408m in 2022, following a […]
The post Chinese owners claim that British Steel Works has never turned a profit. appeared first on Stockmark.IT.
|
UK inflation remains unchanged at 2.2%
After the annual inflation rate in the UK remained at 2.2% in August, it is expected that Bank of England will keep interest rates unchanged on Thursday. Official figures reveal that consumer prices remained stable from July to August when measured annually, defying expectations of a slight rise up to 2.3%. The Bank, who cut […]
The post UK inflation remains unchanged at 2.2% appeared first on Stockmark.IT.
|
|
Tortoise Media and Guardian are in discussions to sell the Observer to Guardian
|
Parents can now see what their children are saying on Instagram
As part of the sweeping changes to safety coming to the social networking app , Instagram will now allow parents to view who their children message. This is in response to concerns about online grooming and sexual exploitation. Meta, the company that owns Instagram, will tighten privacy settings on Instagram for millions of teens. Under-18s […]
The post Parents can now see what their children are saying on Instagram appeared first on Stockmark.IT.
|
US tech giant Intel halts construction of €30bn German Microchip Factory
Intel has cancelled plans to build a â¬30bn microchip plant in Germany, a blow for Europe’s technological plans. The US chipmaking company said that it would postpone construction of a site in Magdeburg for around two years and also a facility in Poland despite receiving billions in state subsidies. Intel announced the announcement as it […]
The post US tech giant Intel halts construction of â¬30bn German Microchip Factory appeared first on Stockmark.IT.
|
Tesco may urge customers to replace unhealthy purchases
Tesco’s chief executive said that it could use Clubcard data in order to alert shoppers when they purchase too many unhealthy products. The head of Britain’s largest supermarket has said that he expects to use artificial intelligence to monitor the way customers shop to “nudge” them into making healthier decisions. Ken Murphy, a Tesco spokesperson, […]
The post Tesco may urge customers to replace unhealthy purchases appeared first on Stockmark.IT.
|
Amanda Staveley Company liquidated following dispute with shipping tycoon
After a dispute over an historic loan with a Greek shipping magnate, a company owned by the former Newcastle United director Amanda Staveley was forced into liquidation.According to both parties, a London court liquidated Staveleyâs Apollo Belvedere Services â a UK company formerly known by the name PCP Capital Partners â on September 11, following […]
The post Amanda Staveley Company liquidated following dispute with shipping tycoon appeared first on Stockmark.IT.
|
Bets increase on Bank of England rate cut
The markets are preparing for aggressive US Federal Reserve moves to reduce borrowing costs. Traders have increased their bets on the Bank of England cutting interest rates this Thursday.According to LSEG, investors are pricing in a probability of around 35 percent that the UK central will cut rates 0.25 percentage points. The market had a […]
The post Bets increase on Bank of England rate cut appeared first on Stockmark.IT.
|
Pret A Manger sales rise above £1bn
Pret A Manger sold £1 billion for the first year in its history, as it expanded into international markets. Now, £1 of every £4 is spent outside the UK.The sandwich chain has expanded its global portfolio of 690 stores and opened 81 new shops around the world in the past year. Of these, more than […]
The post Pret A Manger sales rise above £1bn appeared first on Stockmark.IT.
|
Take a chance on the augmented reality glasses but are they seeing clearly?
Evan Spiegel, co-founder of Snap and its chief executive, describes building augmented reality glasses as “a journey”, “a blue ocean strategy”, or a leap into a new territory.It is a holy grail of technology to be able to incorporate highly complex technologies, including batteries, into an easily wearable frame.Snap announced the fifth generation of Spectacles […]
The post Take a chance on the augmented reality glasses but are they seeing clearly? appeared first on Stockmark.IT.
|
Analysts’ predictions of US consumer spending are not met
US consumer spending was unexpectedly high in August despite a slowdown on the labour market.The US Department of Commerce Census Bureau reported that retail sales rose by 0.1 percent after a 1.1 percent increase in July which was upwardly revised. Reuters polled economists who predicted that retail sales (which are mainly goods and not adjusted […]
The post Analysts’ predictions of US consumer spending are not met appeared first on Stockmark.IT.
|
BlackRock and Microsoft to invest $30bn in AI infrastructure
BlackRock and Microsoft are preparing to launch an artificial intelligence fund worth more than $30 billion to help meet the growing demand for AI. The fund will be used to finance data centres, energy projects, and other infrastructure to support AI.The financial partnership that BlackRock will launch with its new Infrastructure Investment Unit, Global Infrastructure […]
The post BlackRock and Microsoft to invest $30bn in AI infrastructure appeared first on Stockmark.IT.
|
UK’s post Brexit checks on fruits and vegetables have been delayed a third.
The third delay in the planned post-Brexit check on fruits and vegetables imported into Britain from EU has been made due to concerns raised by suppliers that the checks could result in higher prices for consumers. The government has announced that it will postpone by six months the plans to implement checks on certain fruits […]
The post UK’s post Brexit checks on fruits and vegetables have been delayed a third. appeared first on Stockmark.IT.
|
Martin Lewis: UK’s smart-meter targets are leaving energy consumers shortchanged.
According to consumer advocate Martin Lewis, the government’s “perverse” targets for installing electronic smart meters at homes in the UK are causing energy customers to be shortchanged. Lewis, the founder and chair of MoneySavingExpert.com (MSE), has written to Ed Miliband, the secretary of state for energy security and net zero, warning that installations are being […]
The post Martin Lewis: UK’s smart-meter targets are leaving energy consumers shortchanged. appeared first on Stockmark.IT.
|
IPPR: Tackling UK ill-health is essential to economic growth
A left-of centre think-tank said that the government should invest £15bn per year in a radical reform programme designed to improve national prosperity and wellbeing. The Institute for Public Policy Research said that the UK’s worsening state of health affected the supply and quality of workers. It also worsened productivity. Pay was held back, causing […]
The post IPPR: Tackling UK ill-health is essential to economic growth appeared first on Stockmark.IT.
|
Sky Betting & Gaming reprimanded after sharing personal data without consent
Sky Betting & Gaming, an online gambling company, has been reprimanded for sharing customer information illegally with advertising firms that then targeted those users with personalised advertisements. After a complaint from the Clean Up gambling campaign group, The Information Commissioner’s Office said that it had investigated Bonne Terre Ltd. trading as Sky Betting & Gaming. […]
The post Sky Betting & Gaming reprimanded after sharing personal data without consent appeared first on Stockmark.IT.
|
B&Q owner tightens guidelines as housing market improves
Kingfisher, the owner of B&Q, has increased its forecast for its lower end despite a weaker demand for high-ticket items. Its French business is also still struggling. As a result of signs that the housing market is improving in Britain, DIY retailer Screwfix said they expected a pre-tax adjusted profit between £510 and £550 millions. […]
The post B&Q owner tightens guidelines as housing market improves appeared first on Stockmark.IT.
|
AllSaints continues to grow with record profits
AllSaints has achieved another record-breaking year in terms of revenue and profit. The fashion retailer’s sales and John Varvatos (its American subsidiary brand) rose by 0.6 percent to £459.5 in the 12 months ending February 3. Operating profits increased 18% to £68.9, a rise of 18%. The net cash position at the end was £58.1million, […]
The post AllSaints continues to grow with record profits appeared first on Stockmark.IT.
|
Bank bond sales could cost Treasury billions
According to a new analysis, the Bank of England’s decision of selling back bonds to investors to reduce its balance sheet quickly could cost the government as much as £96 billion over the next few years. The New Economics Foundation (NEF), a think tank, has calculated the cost of the Bankâs decision to implement âquantitative […]
The post Bank bond sales could cost Treasury billions appeared first on Stockmark.IT.
|
THG spins off tech services to fix the balance sheet
THG, the struggling online beauty and nutrition company, has announced that it will spin off its technology division in order to improve its balance sheet and share performance. The Manchester-based company said that it was “actively reviewing potential structures” to facilitate the demerger. THG Ingenuity provides ecommerce, logistics and other services to retailers. After the […]
The post THG spins off tech services to fix the balance sheet appeared first on Stockmark.IT.
|
BP will sell American onshore wind farm
BP plans to exit the American onshore Wind Market with ten wind farms, as its new boss tries simplifying the business and boosting returns. The FTSE-100 energy group is selling its existing US onshore winds farms. These wind farms span seven states, and have a combined power of 1.7 gigawatts. BP said it would launch […]
The post BP will sell American onshore wind farm appeared first on Stockmark.IT.
|
Harland & Wolff, the Titanic’s builder, is heading for administration
Harland & Wolff – the shipyard which built the Titanic – is about to enter administration for the second consecutive time in just five years. Harland & Wolff Group Holdings was “insolvent” on a basis of balance sheet, according to the Belfast-based firm. The holding company will undergo an administration process, but the operating companies, […]
The post Harland & Wolff, the Titanic’s builder, is heading for administration appeared first on Stockmark.IT.
|
Labour says that the right to work at home is a productivity booster.
Labour has promised to end “presenteeism”, or the culture of not showing up for work, in Britain’s offices. They claim that flexible working as a right will make employees more productive and loyal.Jonathan Reynolds, the Business Secretary, stated that allowing employees to work at home or ignore emails and phone calls after hours will increase […]
The post Labour says that the right to work at home is a productivity booster. appeared first on Stockmark.IT.
|
Russian state banks open branches to eastern Ukraine
Russia has opened branches of its biggest state banks in Mariupol and other cities, consolidating its grip on the newly occupied parts of Ukraine.The Kremlin is encouraging companies to enter Ukrainian territories that were seized by force at the beginning of its full scale invasion 2022. Sberbank, and VTB are two of Russia’s largest state-owned […]
The post Russian state banks open branches to eastern Ukraine appeared first on Stockmark.IT.
|
Roche data reveals the stomach-churning effects of weight loss drugs
Roche has raised hopes that the Swiss pharmaceutical company may have a blockbuster drug in its hands. Early trial results showed rapid weight loss for recipients of new treatments from the Swiss group. Investors have been unnerved by the recent revelations that high rates of vomiting, and other side effects, among people who take strong […]
The post Roche data reveals the stomach-churning effects of weight loss drugs appeared first on Stockmark.IT.
|
European governments sell off €16bn in bank stocks
Over the last year, European governments have sold more than â¬16bn in bailed out bank stocks as they try to put an end to the effects of the global economic crisis. The government has been able to take advantage of the share price increases due to higher interest rates by accelerating disposals of bank shares. […]
The post European governments sell off â¬16bn in bank stocks appeared first on Stockmark.IT.
|
Thames Water aims to raise £3.3 billion in new cash
Thames Water has asked investment giants Brookfield Infrastructure Partners, and Global Infrastructure Partners for help in a £3.3 billion fundraising effort to save the utility. Rothschild has given the company a deadline for assembling potential investors to raise equity. This is set at early November. Stonepeak, a US-based fund, was also reportedly approached. The success […]
The post Thames Water aims to raise £3.3 billion in new cash appeared first on Stockmark.IT.
|
Knoops wants £5 million for expansion globally
Knoops raises £5 million through a deal valued at £34million. The chain of fast-growing chocolate drink cafes aims to open 5,000 outlets worldwide within the next decade. Since William Gordon-Harris first tried a Ugandan hot chocolate with 80 per cent cacao at a small cafe in Rye in Sussex in 2019, the business has taken […]
The post Knoops wants £5 million for expansion globally appeared first on Stockmark.IT.
|
Rachel Reeves warns that a tax grab on private equity may backfire
Rachel Reeves was warned that closing the private equity loophole, which would raise at least PS500m, could lead to a mass exodus of rich individuals and reduce the revenue that the chancellor hoped to generate. EY, a professional services company, said that 60% of its clients in asset management had requested it to work on […]
The post Rachel Reeves warns that a tax grab on private equity may backfire appeared first on Stockmark.IT.
|
TK Maxx: the retail giant that profits from its rivals’ mistakes
The best time to shop at TK Maxx begins as soon as it opens. The dozens of bargain hunters that had gathered at the retailer’s Croydon branch in south London mid-morning on a recent weekday knew this. Families, students, and pensioners all know to get the best deals and browse in relative quiet, they need […]
The post TK Maxx: the retail giant that profits from its rivals’ mistakes appeared first on Stockmark.IT.
|
Silicon Valley’s techies have built the AI that will replace them
The Chase Center in San Francisco, a 18,000-seat arena for sports and entertainment, was filled with a frisson of intrigue and fear. Mark Zuckerberg, third richest man in the world, was seated on a stage wearing a loose shirt with a mop curls to talk about his 20-year tenure as CEO of Meta, which owns […]
The post Silicon Valley’s techies have built the AI that will replace them appeared first on Stockmark.IT.
|
|
Harland & Wolff, the Titanic’s shipbuilder, stumbled on the edge of bankruptcy
|
|
Doubleview Gold: Progress Update on the Hat Property and Drilling at Lisle Zone
|
Fulcram Metals Secures £758,000 in Funding to Advance Tailings Project
Fulcram Metals, a company focused on innovative mining solutions, has successfully raised £758,000 through a placing at 8 pence per share. The funding, which includes significant contributions from existing investors and directors, is set to propel the company’s ambitious project developments. CEO Ryan Mee expressed his satisfaction with the successful fundraising, despite acknowledging the significant […]
The post Fulcram Metals Secures £758,000 in Funding to Advance Tailings Project appeared first on Stockmark.IT.
|
Mkango Marks Strategic Progress in Rare Earth Magnet Recycling
In a pivotal move, Mkango Resources is steering towards becoming a leader in the recycling of rare earth magnets, alloys, and oxides through its majority-owned subsidiary, Maginito. They are spearheading the commercialisation of patented Hydrogen Processing of Magnet Scrap (HPMS) technology, setting the stage for an impressive rollout in the UK and beyond.
The post Mkango Marks Strategic Progress in Rare Earth Magnet Recycling appeared first on Stockmark.IT.
|
Oakmount Partners Poised for Growth as InterGroup Mining Nears TSX Listing
Oakmount & Partners Ltd, a prominent investment firm, is on the cusp of realising significant returns as InterGroup Mining prepares for its listing on the Toronto Stock Exchange (TSX). Glenn King, the managing director of Oakmount, recently shared insights into the company's latest developments and future strategies.
The post Oakmount Partners Poised for Growth as InterGroup Mining Nears TSX Listing appeared first on Stockmark.IT.
|
|
Britain’s Energy Grid Goes Public: Will It Bring Lower Bills and Faster Renewables?
|
Revolut founder sold shares in fintech company worth up to $300m
According to reports, the founder of Revolut – one of Europe’s most valuable technology firms – has sold shares in the company worth up $300m (£230m). Nik Storonsky is the chief executive officer of Revolut. He sold between 40 and 60% of the stock that was sold in last month’s second share sale. Sky News […]
The post Revolut founder sold shares in fintech company worth up to $300m appeared first on Stockmark.IT.
|
Can UK avoid the national debt nearly tripling in next 50 years
The Office for Budget Responsibility’s crystal ball shows that Britain will be a very different place in 50 years. It is indeed grim. The government’s independent watchdog on spending predicts that if policies remain unchanged, national debt will rise from under 100% of gross domestic product (GDP) to 274% in the mid-2070s. There is no […]
The post Can UK avoid the national debt nearly tripling in next 50 years appeared first on Stockmark.IT.
|
Fever-Tree announces London listing after shares fall to eight-year low
Fever-Tree’s boss is committed to keeping Fever-Tree listed in London even though its share price has been falling and now the United States generates the largest portion of the company’s revenue. Tim Warrillow launched the high-end mixing brand with Charles Rolls 20 years ago. He said there was no plan to follow the exodus from […]
The post Fever-Tree announces London listing after shares fall to eight-year low appeared first on Stockmark.IT.
|
Owner of New York Sun bids for Telegraph Newspapers
A publisher from the United States has entered the auction to purchase The Daily Telegraph at the last stages. The New York Sun owner, an American website with a right-leaning news agenda, expressed interest in acquiring the Sunday Telegraph and broadsheet. Semafor reported that Dovid Efune was bidding on behalf of hedge fund manager Michael […]
The post Owner of New York Sun bids for Telegraph Newspapers appeared first on Stockmark.IT.
|
European Central Bank reduces interest rates again
The European Central Bank has cut interest rates a second year in a row amid growing concerns over a possible recession in the Eurozone. The 20 central banks that use the Euro lowered their main deposit rate on Thursday by a quarter-point to 3.5% from 3.75. This move was widely anticipated and follows the ECB’s […]
The post European Central Bank reduces interest rates again appeared first on Stockmark.IT.
|
John Lewis profits grow’significantly,’ after a turbulent few years
John Lewis Partnership said that it was on track to grow profits “significantly” this year, after recovering the “buzz”, and cutting losses while refocusing on its core business. The employee-owned partnership that owns the Waitrose supermarket chain and John Lewis department store said the total revenue rose by 2 percent to £5.2 billion during the […]
The post John Lewis profits grow’significantly,’ after a turbulent few years appeared first on Stockmark.IT.
|
|
Bank of England backs down on plans to introduce tougher capital regulations for UK banks
|
IG Group gains from August’s market turmoil
Spread-betting specialist IG Group has reported a 15% increase in revenue for its first quarter. This was driven by increased trading activity, as customers tried to take advantage the market turmoil that occurred in August. The FTSE 250 firm posted revenues of £278.9 millions in the three-month period ending August 31. This is up from […]
The post IG Group gains from August’s market turmoil appeared first on Stockmark.IT.
|
|
The production of the electric Fiat 500 has been halted due to a lack of European orders
|
Inditex’s profits are a model for fashion rivals
Inditex has recovered from a slow summer start, resulting in a record-breaking profit for the first six months of the year. Zara’s Spanish owner reported sales of £18.1 billion for the six-month period ending in July. This is up 7.2% from the same time in 2023. The pre-tax profit rose more than 10.6 percent to […]
The post Inditex’s profits are a model for fashion rivals appeared first on Stockmark.IT.
|
Grangemouth Oil Refinery to Close Next Year with 400 Job Losses
Grangemouth, Scotland’s only remaining oil refinery, will close in the next year. This will result in the loss of over 400 jobs and leave the UK with just a few refineries. It also increases the UK’s dependence on imported fuel. Petroineos, the site’s owner, is a joint venture of Sir Jim Ratcliffe Ineos with PetroChina. […]
The post Grangemouth Oil Refinery to Close Next Year with 400 Job Losses appeared first on Stockmark.IT.
|
BMW shares drop to a four-year low after recall of 1.5m vehicles announced
The shares of BMW fell after the automaker announced it would have to recall 1,5m vehicles due to a brake problem. This will cost it nearly â¬1bn. The German manufacturer stated that its annual earnings will be significantly lower than anticipated, as the problem with the brake system has now been discovered to be much […]
The post BMW shares drop to a four-year low after recall of 1.5m vehicles announced appeared first on Stockmark.IT.
|
|
British Steel Industry Prepares for 2,500 Job Cuts at Port Talbot as Government Deal
|
The increase in grocery shopping is due to the back-to-school season.
Last month, households increased their grocery expenditures by stocking up on essentials for lunchboxes. Inflation in Great Britain’s supermarkets dropped. Kantar, a retail analyst, says that the rate of inflation in grocery prices fell from 1,8% last month to 1,7% during the four-week period ending 1 September. However, nearly 60% of consumers are concerned about […]
The post The increase in grocery shopping is due to the back-to-school season. appeared first on Stockmark.IT.
|
|
Everton supporters could be able to purchase shares in the club if Textor completes takeover
|
Reeves is urged to change tax laws ‘to raise over £20bn per year’
A left-of centre thinktank is urging Rachel Reeves to announce in the budget next month changes to capital gains, inheritance tax, and national insurance that would raise over £20bn per year for Treasury. The Resolution Foundation, which is a non-profit organisation that promotes social justice and equality in society, said that the chancellor was looking […]
The post Reeves is urged to change tax laws ‘to raise over £20bn per year’ appeared first on Stockmark.IT.
|
Enjoy the journey as you renovate your home.
Renovation projects can be stressful. You can watch any popular TV show featuring people with great ideas, and see the sanity of the characters disintegrating. These tips will help you manage your project successfully and also enjoy it. You can easily get carried away with a great idea. However, you shouldn’t start working until you […]
The post Enjoy the journey as you renovate your home. appeared first on Stockmark.IT.
|
Rightmove rejects Murdoch’s REA’s offer of £5.6bn
Rightmove, Britainâs largest property listing company, rejected an initial cash-and-shares bid from Australia’s REA Group, which valued the UK business around £5.6bn. REA, controlled by Rupert Murdochâs News Corp., stated that its initial proposal valued Rightmoveâs shares at 705, a premium of 27 per cent to the UK firmâs share price before the Australian companyâs […]
The post Rightmove rejects Murdoch’s REA’s offer of £5.6bn appeared first on Stockmark.IT.
|
|
Aston Martin F1 signs Newey, a former Red Bull aerodynamics expert, in a £20mn deal
|
|
BoE is urged to increase the sale of short-dated Gilts in order to boost market liquidity
|
Chinese startup aims to achieve nuclear fusion for half the price of US competitors
China is racing with the West to commercialise the revolutionary clean energy. A Shanghai-based start-up wants to raise $500mn for the development of cheaper nuclear fusion technologies. Since decades, nuclear fusion – where hydrogen isotopes fuses after being heated at extreme temperatures and releasing energy – has the potential to produce abundant emissions-free power without […]
The post Chinese startup aims to achieve nuclear fusion for half the price of US competitors appeared first on Stockmark.IT.
|
Mountain Warehouse will open 50 new stores
Mountain Warehouse is planning to open 50 new stores in the UK next year, despite fears that the high street will die. Outdoor clothing chain, The Outdoor Clothing Company, has announced a massive expansion of its physical stores in Britain as well as overseas. This is due to the surge in demand for shopping in […]
The post Mountain Warehouse will open 50 new stores appeared first on Stockmark.IT.
|
Telecoms services provider eyes a move upmarket
Gamma Communications, after reporting strong results for the first half of the year, is considering moving to London’s main stock exchange. Aim’s telecoms services provider, with its size, could join the FTSE 250 Mid-Cap Share Index. The company reported an interim profit before tax of £48.5million for the six-month period ending June 30, up 11% […]
The post Telecoms services provider eyes a move upmarket appeared first on Stockmark.IT.
|
AstraZeneca faces setback in cancer drug trial
AstraZeneca has suffered a setback after disappointing late-stage results from a lung cancer drug that was closely monitored. The FTSE-100 pharmaceutical company showed its confidence in Dato-DXd when it presented the overall survival data at a lung cancer world congress in San Diego. Analysts, however, questioned the potential benefits. AstraZeneca shares fell by 306p or […]
The post AstraZeneca faces setback in cancer drug trial appeared first on Stockmark.IT.
|
PwC sends UK partner to China amid Evergrande fallout
PwC has sent one of its senior British executives to China to help steer the business of the firm in the country after the audits it conducted on Evergrande, a collapsed property developer. Hemione Hudson, who was once on the list of candidates to become PwC UK’s boss, has been asked to head the Chinese […]
The post PwC sends UK partner to China amid Evergrande fallout appeared first on Stockmark.IT.
|
Serica warns that the energy profits tax could hinder North Sea projects
The head of a large North Sea oil producer warned that an “punitive tax regime” would hinder its plans to further invest in Britain. Chris Cox confirmed, as well, that Serica Energy was also looking to acquire companies outside of the North Sea. Amjad Bseisu of Enquest said last week that the Energy (Oil and […]
The post Serica warns that the energy profits tax could hinder North Sea projects appeared first on Stockmark.IT.
|
IWG’s shareholder demands that the company be listed in New York
One of Regus’s largest shareholders has told the serviced office provider to “immediately” move its stock listing to the United States. Buckley Capital Management stated that moving from London to New York could help boost IWGâs share price which is 60 per cent lower than its pre-pandemic levels. Buckley wrote in an open letter addressed […]
The post IWG’s shareholder demands that the company be listed in New York appeared first on Stockmark.IT.
|
Paul Marshall purchases The Spectator at £100m
The Spectator magazine and sister Telegraph titles were sold to Sir Paul Marshall in a long-running battle over ownership. Marshall, the financier who owns the Marshall Wace hedge fund and GB News (the television channel), has purchased the magazine, after the purchase of the magazine by a fund backed by Abu Dhabi was blocked by […]
The post Paul Marshall purchases The Spectator at £100m appeared first on Stockmark.IT.
|
The first criminal case over illegal cryptocurrency ATMs
The City regulator brought its first criminal charge against an individual who was allegedly operating a network illegal cryptocurrency ATMs. Olumide Osunkoya has been accused by the Financial Conduct Authority for operating illegally machines that processed £2.6 Million in crypto transactions between September 8th last year and the end of 2021. The authority stated that […]
The post The first criminal case over illegal cryptocurrency ATMs appeared first on Stockmark.IT.
|
After takeover, Centamin will leave the London Stock Exchange
Centamin will become the latest mining firm to leave London’s stock exchange after agreeing to be taken over by an American competitor. The group has recommended that AngloGold Ashanti pay $2.5 billion in cash and shares to gain control of Egypt’s biggest goldmine. AngloGold (which is also listed in Johannesburg) made an offer valuing FTSE […]
The post After takeover, Centamin will leave the London Stock Exchange appeared first on Stockmark.IT.
|
Apple loses landmark tax dispute with the EU
Apple lost a â¬13-billion battle against unpaid taxes, a landmark in European Union law over “sweetheart tax deals”. The European Court of Justice reversed an earlier ruling that favored the technology group and found that Ireland “granted Apple illegal aid” which it was obliged to recover. Experts said that the long-awaited decision could have significant […]
The post Apple loses landmark tax dispute with the EU appeared first on Stockmark.IT.
|
|
UK music industry pressurises government to resolve post-Brexit touring restrictions
|
|
After fire, Grenfell Building firm is criticised by an inquiry and awarded contracts worth millions
|
|
In England and Wales, water companies lost over 1tn litres of water due to leaks in the last year
|
Thinktank says that online gambling has a negative impact on the UK economy
A report claims that the online gambling industry, worth billions of pounds, has had “negative impacts” on the UK’s economy. The report was commissioned by Campaign for Fairer Gaming, and produced by National Economic Research Associates. It claims that the growth of online gambling is “detrimental” to the British economy. Money from other sectors which […]
The post Thinktank says that online gambling has a negative impact on the UK economy appeared first on Stockmark.IT.
|
NHS patients miss out on cancer screening due to shortages
A shortage of chemicals that are used to detect prostate and bone tumors is putting patients at risk. This is due to the slowdown in imports, a lack of funding and the closure of vital labs. This year, hospitals in Oxford, Bath, and London, among others, issued alerts about shortages radioactive materials, which resulted in […]
The post NHS patients miss out on cancer screening due to shortages appeared first on Stockmark.IT.
|
The man behind Peloton’s billionaire boom and bust
John Foley is a man who knows how to describe himself. He’s 53 and a living example of the things that can go wrong with business. Shares can rise or fall, but he is a testament to this. He was once a stock-market darling. He co-founded At-Home Fitness and led it for over a decade. […]
The post The man behind Peloton’s billionaire boom and bust appeared first on Stockmark.IT.
|
|
Mkango Resources: Pioneering Sustainable Rare Earth Production
|
|
Insights from the CEO of Cook’s Coffee on Franchise Success
|
|
Feeld, a dating app that ‘triples’ in popularity, nearly doubles its revenue to £39.5m
|
Royal Mail considers bin collection-style website for letter delivery days
Royal Mail may launch a website similar to a “bin-collection” to allow households to know when they will get their mail if regulators give the go ahead to reduce services. The company wants to reduce its costs and has proposed to move the second-class letter delivery on alternate weeksdays. Sources in the industry have confirmed […]
The post Royal Mail considers bin collection-style website for letter delivery days appeared first on Stockmark.IT.
|
HSBC hires a lot of people to help drive UK wealth division goals
HSBC has recruited hundreds of bankers in the UK to service wealthy clients as it looks at reducing the competition and taking a bigger slice of the UK wealth management market. The largest bank in Europe is looking to strengthen its UK wealth and private banking arm by bolstering its team of relationship management, which […]
The post HSBC hires a lot of people to help drive UK wealth division goals appeared first on Stockmark.IT.
|
France requests more time from the EU to submit a debt plan
The French government has requested more time from the European Commission to present its plans for debt reduction and deficit reduction. This comes as Michel Barnier, the new prime minister, works to form a government in a context of worsening finances. The finance ministry of the country said that it had requested more time from […]
The post France requests more time from the EU to submit a debt plan appeared first on Stockmark.IT.
|
UK Health Minister: NHS must make “three major shifts” to survive
Wes Streeting said that the NHS must make three “big changes” to its delivery of care in order to have a sustainable future. The UK Health and Social Care Secretary said that the new government will prioritise moving NHS treatments “from hospitals to communities”, “analogues to digitals” and “sickness prevention”. Three shifts are “absolutely necessary […]
The post UK Health Minister: NHS must make “three major shifts” to survive appeared first on Stockmark.IT.
|
|
|
|
The Commission Limited, Kemp House 160 City Road London EC1V 2NX
|