Author: WTX Business Team

Stocks making the biggest moves midday: Nvidia, Palantir, Moderna, Ulta Beauty, Alibaba and more Market Insider Check out the companies making headlines in midday trading: Global pharma stocks — Shares of several vaccine makers declined after President-elect Donald Trump selected prominent vaccine skeptic Robert F. Kennedy Jr. as health secretary on Thursday. Shares of Moderna and Pfizer slipped 7.3% and 4.7%, respectively. BioNTech , which helped develop a Covid vaccine with Pfizer, shed 3.7%, while GSK…

The DOJ has proposed breaking up Google to curb the tech giants’ dominance in online search. In a court filing on Wednesday, the DOJ suggested that Google should be required to sell its Chrome web browser and end contracts that make its search engine the default choice on devices from companies like Apple and Samsung.

GKN Aerospace owner Melrose holds outlook despite supply chain challenges Melrose Industries said it is on track to hit looming profit targets despite the industry-wide supply chain challenges plaguing the aerospace sector. The Birmingham-based manufacturer said this morning it expects adjusted operating profit of between £550m and £570m this year and £700m in 2025. In an update to markets, Melrose flagged a seven per cent year-on-year rise in revenue, driven by a 17 per cent…

UK inflation set to jump above target in headache for Rachel Reeves UK inflation is expected to have jumped above the Bank of England’s two per cent target in October, bolstering a cautious approach to cutting interest rates in the months ahead. A more gradual easing of monetary policy would be a headache for the new government, which has tried to reassure markets that last month’s big-spend Budget will boost economic growth without leading to…

Bank of England governor says Brexit has undermined UK economy The Bank of England governor has urged ministers to “rebuild relations” with the EU, warning that Brexit has undermined the UK’s economy. Speaking at the Mansion House dinner in the City of London on Thursday evening, Andrew Bailey said he took no position on Brexit “per se”, but added: “I do have to point out consequences.” He said Brexit had “weighed” on the economy, pointing…

Reeves warns financial regulation has gone ‘too far’ in pledge to unleash the City The Chancellor Rachel Reeves warned that financial regulation had “gone too far” last night as she pledged to rip up red tape and put the City watchdogs on a growth footing. In her maiden Mansion House speech in the Square Mile, Reeves said that regulatory measures brought in since the financial crisis in 2008 have looked to “eliminate risk” and had…

Andrew Bailey, Governor of the Bank of England, said inflation has fallen “faster than we expected” but still warned that more progress would be needed on services inflation.

The UK grew at a slower pace than expected in the third quarter, according to new figures, with business groups pointing to the impact of uncertainty ahead of last month’s Budget.

Council tax bills could rise by 5% after Labour keeps cap in place Labour has confirmed council tax rises will be kept at the 5% cap next year, which could mean a rise of £100 for the average family’s bills. The prime minister’s press secretary said on Wednesday that the threshold by which local authorities can increase bills would “remain the same”. Hours earlier Keir Starmer had dodged a question from Kemi Badenoch, the Conservative…

Pension ‘megafunds’ to be created to boost investment and economic growth Pension “megafunds” are set to be created to help unlock billions of pounds of investment in UK businesses and infrastructure. Rachel Reeves will use her first Mansion House speech on Thursday as chancellor to outline what is billed as the biggest pensions shake-up in decades. Consolidating assets into a handful of funds run by professional fund managers will allow them to invest more in…

VW has partnered with Rivian in a $5.8 billion joint venture aimed at accelerating EV innovation. The move will see both companies sharing advanced technologies to address slowing global EV demand and increasing competition from Chinese manufacturers.

Wage growth comes in ahead of expectations despite loosening labour market Bank of England rate-setters received a mixed picture from the latest labour market figures, with progress on wage growth stalling even as unemployment crept up. According to the Office for National Statistics (ONS), pay growth excluding bonuses eased to 4.8 per cent in the three months to September, down from 4.9 per cent previously but slightly ahead of expectations. This confirmed that regular pay…

London’s challenger stock market Aquis has accepted a £194m takeover offer from Swiss-based bourse operator SIX Group, CITY AM reports.