Profits for Samsung Electronics are expected to jump by more than 10-fold compared to a year earlier. The news comes as prices of chips have recovered from a post-pandemic slump and demand for artificial intelligence (AI) related products booms.
Author: WTX Business Team
McDonald’s is to buy back all its Israeli restaurants after a boycott of the fast-food chain in response to the Israel-Hamas war. The company said it had reached an agreement with Alonyal for the return of 225 outlets across the country employing 5,000 people.
Amazon has announced layoffs affecting hundreds of employees in its cloud computing division.According to its latest financial report, Amazon Web Services (AWS) has experienced significant growth, now contributing 14% to Amazon’s overall revenue.
Shares in Donald Trump’s media firm have soared on their stock market debut in New York, leaving his majority holding worth almost $6bn (£4.8bn) on paper at one stage.
Dave Calhoun is to leave his role as head of Boeing at the end of this year, as the crisis over the company’s safety record continues to dominate.
The London business paper CITY AM leads with a revealed rich list of Met Police personnel. Elsewhere, Chancellor Jeremy Hunt has confirmed the Tories will back the pensions triple lock – a key policy for the party.
China is the focus in the Financial Times, which leads with reports the US and Japan are planning to bolster their security alliance in a bid to counter what they view as a growing threat from Beijing. A striking image of Moscow’s destroyed Crocus City Hall venue following Friday’s attack also features prominently.
According to the beneficiary, Rolls-Royce, Aukus funding will help create more than 1,000 new jobs in Derby. The project will see the construction of new office space as well as manufacturing facilities.
The lead for the London business newspaper CITY AM reports consumer goods giant Unilever topped the FTSE 100 leaderboard on Tuesday as news of job cuts and a spin-off of its ice cream business appealed to investors. Online, the paper leads with the latest UK inflation rates.
The Financial Times leads on Rachel Reeves’s pledge to borrow only for investment, echoing fiscal rules set out under the last Labour government. The shadow chancellor said on Tuesday that Labour would follow fiscal rules set by the current Conservative chancellor, Jeremy Hunt.
Ted Baker calls in administrators putting 86 stores at risk of closure Hundreds of jobs at high street store Ted Baker are at risk as it plans to appoint administrators. No Ordinary Designer Label, owned by Authentic Brands Group (ABG), filed a notice of intention to appoint administrators today. While the scale of closures is currently unclear, there are 86 Ted Baker stores across the UK. Ted Baker was bought by ABG for about £…
Software firm Bytes Technology Group, who has appointed an independent committee to investigate secret trades of former boss Neil Murphy, sending shares down as much as 14 per cent.
The Financial Times reports on the news that Deloitte, one of the “big four” global accountancy firms, is poised to overhaul its business structure.
Evergrande, the struggling Chinese property giant, along with its founder Hui Ka Yan, faces allegations of inflating revenues by $78 billion (£61.6 billion) in the two years preceding the company’s default on its debt.
Japan’s central bank has raised the cost of borrowing for the first time in 17 years. The Bank of Japan (BOJ) increased its key interest rate from -0.1% to a range of 0%-0.1%. It comes as wages have jumped after consumer prices rose.
Nvidia has revealed its latest artificial intelligence (AI) chip, boasting a significant speed boost of 30 times compared to its predecessor.
The FT’s lead story claims the US Federal Reserve will have to keep rates high for longer than markets anticipate, according to economists polled by the newspaper. Fed will have to keep rates high for longer than markets anticipate, say economists FT-Chicago Booth poll suggests bank will make two or fewer cuts this year, with the first between July and September The Federal Reserve will be forced to hold interest rates at a high level…
City AM – House Price Boom Builds Momentum The London business paper CITY AM reports London property prices have leapt in March. House prices reach highest level in 10 months in March Green shoots continue to emerge in the property market as March has welcomed the highest rise in house prices in 10 months. According to a report by Rightmove, the average price of newly marketed properties rose by £5,279 this month to £368k. The…
The front page of the London business newspaper City AM reports top dogs in the UK veterinary sector were under pressure today after the competition watchdog said it would investigate why pet owners are not getting value for money.
The Financial Times says the news that US inflation unexpectedly rose to 3.2% in February has highlighted the challenge faced by the Federal Reserve in trying to get prices back down.
Vodafone goes down leaving customers without broadband across the country Hundreds of Vodafone broadband customers were left unable to get online this morning after the provider suffered an outage in various regions across the country. Customers in London, Birmingham, Manchester and Nottingham were among those lodging reports on Down Detector. The problems seemed to appear just before 9am, as many people were logging on to start work for the week. More than 80% of the…
The splash story of the FT centres on a fresh poll showing challenges facing US President Joe Biden as his re-election campaign gears up. Americans are increasingly happy about the economy but reluctant to give credit to Joe Biden, according to a new poll.
The lead for the London business newspaper CITY AM, reports that the UK economy is set to take its first steps out of recession this week with GDP figures for January expected to show a return to growth.
The chancellor’s “squeeze” on local councils leads the Financial Times, as the paper reports Jeremy Hunt has “wound down” a scheme providing millions of pounds for social housing.
Wednesday’s budget will be one of the last set pieces the Tories have to win back the British public ahead of the general election. Yet Hunt’s approach shows the difficult balance he must strike between the desires of the electorate, the fiscal realities and the backbenchers nervously looking at their own majorities