Today’s business news – in the UK and beyond amid concerns about the world’s largest economy and the fall in the Asian, US and UK markets.
Cliff Notes The Supreme Court has unanimously overturned the convictions of traders Tom Hayes and Carlo Palombo for manipulating benchmark interest rates. Hayes, initially sentenced to 14 years for fraud, saw his conviction quashed due to jury direction errors that rendered the trial unsafe. The Serious Fraud Office will not…
Cliff Notes – Visit Saudi, ‘Doraemon’ collaborate on culture at Expo 2025 The construction industry is undergoing a significant digitisation revolution, with artificial intelligence (AI) now embedded in various construction processes, enhancing safety and productivity. viAct, a Hong Kong-based AI firm, is spearheading this transformation by offering an innovative platform…
Cliff Notes Hilco Capital is considering a takeover of Claire’s UK operations, which currently has around 280 stores, amidst ongoing financial struggles. Other potential bidders include Alteri Investors and Modella Capital, indicating heightened interest in the troubled jewellery chain. Claire’s is exploring various options, including potential bankruptcy for its US…
Cliff Notes Increased competition and the withdrawal of subsidies have led some investors, including Gerber Kawasaki’s Peter Gerber, to reduce their Tesla holdings. Despite the company’s recent share price dip, some investors, like analyst Dan Ives, maintain that Tesla’s future relies on its innovative potential in AI and self-driving technology.…
Cliff Notes – Cyber attack on M&S latest Marks & Spencer’s chairman, Archie Norman, stated the company remains in “rebuild mode” following a cyber attack that caused empty shelves and disrupted online operations for months. Norman declined to disclose if a ransom was paid, citing business confidentiality and law enforcement…
