Browsing: Business Briefing

The Financial Times reports that Jeremy Hunt is considering “slashing billions of pounds from public spending plans” to fund pre-election tax cuts if he is penned in by tight finances in next month’s budget. 

Japan unexpectedly slips into a recession Japan has unexpectedly slipped into a recession as its economy contracted for two consecutive…

The back page of London business paper CITY AM says Tui shareholders have voted to ditch the London Stock Exchange in favour of Germany, in the latest major blow to the embattled bourse.

Shareholders voted 98.35 per cent in favour of the decision at the travel giant’s annual general meeting, having required 75 per cent backing for the plans to go through.

The front page of the Financial Times reports Nato is set to announce that most of its members are on track to hit the alliance’s defence spending target as it prepares for more Russian aggression and braces for the potential election of Donald Trump.

Jeff Bezos, the multi-billionaire and founder of Amazon, has continued to divest his shares in the company, bringing the total value of recent sales to over $4 billion (£3.2 billion). The tech giant, established by Bezos in 1994, confirmed that he has sold 24 million Amazon shares this month alone. Serving as the firm’s executive chair, Bezos had last offloaded Amazon shares in 2021.

Reuters exclusively reported that Nvidia is building a new business unit focused on designing bespoke chips for cloud computing firms
The post Nvidia pursues $30 billion custom chip opportunity with new unit appeared first on Reuters News Agency.

Arm Holdings, a UK-based chip designer, has witnessed a staggering surge in its stock market valuation, nearly doubling in less than a week, driven by investor optimism surrounding the artificial intelligence (AI) sector.

More than 11 million working-age people in Britain don’t have basic “rainy day” savings of at least £1,000, according to a report that warns that the poorest households are struggling to build up financial resilience amid the cost of living crisis.

The lead story for the Financial Times reports that former US President Donald Trump has a strong lead over current US President Joe Biden on the topic of the economy. The economy is usually the main concern for US voters – along with immigration. 

The front page of the London business newspaper, City AM, says Kemi Badenoch is under pressure from a top City group to revive a sweeping shake-up of audit rules after the government shelved many of its reform plans last year.

The front page of the London business newspaper City AM reports on the Barratt-Redrow merger. The paper says the £2.5bn merger of two of the UK’s largest housebuilders sent shockwaves through the market. 

The paper says shares in major FTSE 100 and 250 housebuilders suffered a mixed day on the London market, as the surprise merger highlighted investors’ skewed opinions on the state of UK housing.

The front page of the business paper The Financial Times reports on Sir Keir Starmer’s U-turn on green pledges. The Labour leader has confirmed that if his party is elected to power at the next general election (expected later this year) they will slash the green spending plan due to ‘frail finances’ after 13 years of Conservative power. 

In a transaction valued at £700 million, Barclays is buying Tesco’s retail banking operations, marking a significant deal for the supermarket giant.

The Financial Times reports on a £2.5bn deal by Barratt to purchase Redrow – a deal the paper says cements the company’s place as the UK’s largest house-building firm.

BP’s boss has said the oil supermajor will focus on extracting maximum cash from its investments going forward as the company resets its long-term goals.

Federal judges in the US have ruled that Donald Trump cannot use presidential immunity in his election interference case.

BP profits plunge as oil prices ease BP, the energy giant, has disclosed a significant decline in profits following a…

Investments into sustainable funds are reducing due to an increase in greenwashing and scepticism towards environment, social and governance focused investing, a new study has found.

The paper also leads with a picture of the King as it reports on the announcement of his cancer diagnosis.

McDonald’s, alongside other Western corporations such as Starbucks and Coca-Cola, has faced boycotts and demonstrations from anti-Israeli activists.

UK crown courts heard 226 fraud cases last year compared with 221 in 2022, according to new figures from KPMG’s Fraud Barometer, which tracks cases worth £100,000 and above.

Iranian petrochemical firms secretly used British front companies to obtain bank accounts with Lloyds and Santander in order to evade US sanctions.

IMF: Germany to be weakest major economy in 2024 while UK downgraded again The International Monetary Fund (IMF) now predicts…

Nearly two-third of first time buyers are entering the property market with someone else, a new report by Halifax has found. 

Mounting losses from banks in the US, Asia and Europe have rekindled concerns about weakness in the US commercial property market.