The Financial Times reports activist investor Cevian Capital has taken a €1.2bn stake in the Swiss bank UBS, betting it can double its valuation over the next three to five years.
Author: WTX Business Team
Adobe has dropped its planned takeover of product design firm Figma due to UK and EU regulatory issues, the Financial Times reports.
Economy WTX Business exclusively reported that South Korea’s National Pension Service (NPS) and central bank are in talks to extend their foreign exchange swap programme that was due to expire in December, according to two government sources with direct knowledge of the matter. Market Impact Soon after WTX Business reported on the swap extension, the won gained as much as 1.21% against the dollar in the onshore spot market, sharply rebounding from a more than…
Reuters exclusively reported that Apple (AAPL.O) has offered to let rivals access its tap-and-go mobile payments systems used for mobile
The post Apple offers to let rivals access tap-and-go tech in EU antitrust case appeared first on Reuters News Agency.
Reuters exclusively reported that Chinese chip designers including Tencent Holdings (0700.HK) are aggressively pitching their AI chips as alternatives to
The post After US curbs, Tencent and small chip designers chase Nvidia’s China crown appeared first on Reuters News Agency.
CITY AM SAYS Investors are hoping for a so-called Santa Rally to push the FTSE 100 further into the green this year.
The Financial Times splashes on a warning from the IMF that the Ukrainian economy could be in trouble if Kyiv’s allies don’t speed up extra funding for the war-torn nation.
EXCLUSIVE: Kevin Dowd said the City would ‘have to reorientate itself’ but added: “The potential longer-term opportunities would be enormous”.
Elon Musk’s car company is facing more safety woes.
CITY AM SAYS Fast fashion giant Shein has reportedly spoken to London stock market bosses about shifting a planned IPO from Wall Street to the capital.
The Financial Times leads on the government’s migration bill vote passing – saying Rishi Sunak headed off a “right-wing revolt”.
UK economy shrank by more than expected in October In October, the UK economy contracted more than anticipated, with growth hampered by elevated interest rates and adverse weather conditions. The Gross Domestic Product (GDP) declined by 0.3% compared to the 0.2% growth observed in September. The Bank of England, in its efforts to combat inflation, has implemented rate hikes, leading to a tightening of household spending. The next rate decision is scheduled for Thursday. Additionally,…
The Financial Times focuses on anger at COP28, where oil-rich states have been accused of thwarting efforts to tackle the climate crisis.
Free Radical Design, the British studio whose founders created GoldenEye 007, is no more, as 80 staff lose their jobs two weeks before Christmas.
CITY AM – Stubbed Out The front page of the London business paper reports on British-American tobacco has taken a £25bn hit on its legacy brands.
France trade deficit lifted in October by easing energy costs In October 2023, France’s trade deficit, which is the difference between what the country imports and exports, decreased to €8.6 billion. This improvement was mainly because the cost of energy went down, specifically from €5.4 billion in September to €5 billion in October, thanks to lower amounts of energy being brought into the country. Although imports increased by 0.6% to €58.3 billion, exports also went…
The Financial Times goes with the resignation of immigration minister Robert Jenrick, saying it scuppered Rishi Sunak’s bid to reunite his party.
The Financial Times leads with Brussels proposing a three-year delay to tariffs that were due to hit electric vehicle sales between the UK and EU.
The FT leads with the government’s latest migration plan, reporting that ministers want to reduce numbers coming into the country by 300,000 a year.
Retail sales for November rose by just 2.7% compared with a 4.2% surge at the same time last year.
Reuters was first to report Meta Platforms’ (META.O) paid no-ads subscription service launched in Europe this month faced one of
Spotify cuts almost 1,600 jobs amid rising costs Streaming giant Spotify is to cut almost 1,600 jobs, with the company pointing fingers at a slowing economy and higher borrowing costs. Spotify billionaire founder and boss Daniel Ek revealed the company had decided to cut 17% of its workforce, the third and steepest round of redundancies of 2023. Ek told employees they would receive a calendar invitation “within the next two hours from HR for a…
Gold hits record-high Gold has climbed to a record high for the second session in a row, as investors flock to the traditional safe haven asset amid hopes of interest rate cuts in the months ahead. The gold price has hit $2,111.39 per ounce, taking it over the record set on Friday night and further above the previous record set in August 2020. Gold has strengthened amid hopes that the cycle of interest rate increases…
THE ECONOMIST says for the first time since Vladimir Putin invaded Ukraine on February 24th 2022, he looks as if he could win.
FT says EU leaders risk leaving Ukraine empty-handed at a perilous moment in its war against Russia as divisions over finances threaten a €50bn lifeline.