Browsing: Business Briefing

The front page of the London business paper CITY AM reports Britons are ditching business cards, leading to predictions that they will soon die out altogether.  

The widespread drop in global house prices that hit advanced economies has largely petered out, according to a front-page lead story. 

The FT’s main story reports that a “bumper earnings report” from chipmaker Nvidia has sparked a global stock market rally, with the company’s shares surging 15% in early trading, adding £205bn ($260bn) to its value in the process.

The London business newspaper CITY AM leads on share plunges in Bytes Technology. Elsewhere the news that BT Tower has been bought and will be turned into a hotel makes the paper’s front page headlines. 

The London business newspaper CITY AM reports on the reaction to the UK recession by Bank of England’s Andrew Bailey. The paper claims Bailey has stuck his head in the sand over the recession news, and reports on the reaction from MPs and economists. 

The front page of the business newspaper Financial Times reports on Barclay’s pledge to return £10bn to shareholders over the next three years as part of an ambitious plan to boost revenues and rebalance the lender away from investment banking.

HSBC, Europe’s largest bank, saw a remarkable surge in its pre-tax profit, skyrocketing by nearly 80% to reach $30.3 billion (£24 billion) in 2023, driven by elevated interest rates.

Britain is showing signs of recovery from its mild recession and will receive a boost when interest rates start coming down later this year, the Bank of England governor, Andrew Bailey, has said.

Surge in pension fund buying drives revival in UK corporate bond market Pension funds are piling into UK corporate bonds, encouraging some French and German…

LSEG chief in line for salary bump London Stock Exchange boss set for multi-million-pound pay rise despite listings slump The boss of the London Stock…

GDP – a key measure of a country’s economic health – fell by 19% on an annualised basis in the fourth quarter of 2023, according to the latest figures. 

Last year, Manchester United Women raked in revenues totalling £7 million, surpassing the average earnings of men’s professional teams in League Two (the fourth tier of professional men’s football in England). This remarkable increase of nearly £2 million from the previous year can be attributed to larger attendances and enhanced income from sponsorship agreements.

Today Donald Trump, Viktor Orban and a motley crew of Western politicians have demolished that orthodoxy, constructing in its place a statist, “anti-woke” conservatism that puts national sovereignty before the individual.

Brussels is to impose its first-ever fine on tech giant Apple for allegedly breaking EU law over access to its music streaming services, according to five people with direct knowledge of the long-running investigation.

The government needs to “roll out the red carpet” for companies mulling an IPO if the City is to solve the listings drought that has gripped London over the past year, a top City body has warned.

The U.S. holiday and a sparse economic calendar will cause the London Stock Market to begin negatively today. And the knock on impact of the…

The Financial Times leads on the news Britain has slide into a recession, noting the economy shrank 0.3% in the last quarter. The paper suggests it’s a blow to the prime minister’s promise of growth – and in an election year, it will prove to be another hurdle facing the Conservative party. 

Shopping rebounds on supermarkets and January sales Retail sales experienced a resurgence in January as consumers rushed to stockpile food items at supermarkets and capitalise…

The London business paper CITY AM says the UK slipped into a recession at the end of last year after a poor performance from the dominant service sector pushed the economy into contraction, new figures show.

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 quarters. In the final three…

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.