Companies

As Paddy Power prepares to move its primary listing to New York, the Paddy Power owner wants to convert its rapidly growing US customer base to shareholders. In January, the company, which has the largest market share of FanDuel in the…

Hong Kong is losing out to competitors in south-east Asia and mainland China in terms of seaborne cargo volume. Drewry, a maritime consultancy, says that the container throughput in Hong Kong dropped 14 percent last year and reached…

If the grocery store can break free from its UK roots, a lucrative future awaits. Tim Steiner, Ocado's chief executive officer, praised the £750m partnership with Marks & Spencer as a win-win for both parties. He said that M&S…

Morrisons reported widening losses for the first quarter, after being weighed down with debt financing costs related to its private equity acquisition. The supermarket chain reported pre-tax losses in the amount of £156m for the 13 weeks…

According to sources familiar with the situation, Formula One owner Liberty Media has exclusive negotiations to purchase the company that owns MotoGP. This would bring together the two elite racing series: the car and the motorcycle. The…

After the collapse of the Francis Scott Key Bridge in Baltimore, carmakers have announced that they will be rerouting shipments to other cities. Insurers have also warned of claims worth billions of dollars. After the closure of…

Emad Mostaque has left Stability AI. The pioneering start-up that he founded in order to create images at will. Mostaque was gifted and talented. He formed StabilityAI in order to promote the Stable Diffusion Tool, which allows users…

It has been revealed that a Chinese company, which makes batteries for BMW electric vehicles, is about to invest billions of pounds in the construction of Britain's largest gigafactory. EVE Energy is the largest producer of cylindrical…

In the latest attack on the Big Tech giants, Joe Biden's government is suing Apple over its alleged use of power to limit competition and restrict consumer choice in the smartphone industry. Apple is under pressure from rivals and…

Raiffeisen Bank International abandoned its planned sale of risky debt on Wednesday after a "negative market reaction" following a report claiming that the US put pressure on the Austrian bank over a deal it had made with Russian oligarch…

Kering, the luxury goods company owned by Francois-Henri Piault, issued a profit warning due to a decline in demand for its flagship brand Gucci. The Paris-based company, unlike its competitors in the same sector who have done better,…

Pfizer is selling a stake of its former joint venture in consumer healthcare, Haleon. The sale will be worth approximately £2.3 billion. The American drug company intends to reduce its remaining holdings in the manufacturer of Sensodyne…

Solar panel manufacturers are set to cut their workforce by almost one-third as they struggle with an oversupply of panels and fierce competition. Longi Green Technology Energy, a Chinese company, plans to reduce its staff by 30pc in a…

British American Tobacco's chief executive has called the idea of moving its listing from London to New York a "distraction" after learning that one of the company’s top-10 shareholders who had pushed for this change left his position.…

News of the sale of shares comes as owner of beer tries to reclaim all American reputation After a backlash due to an ad campaign featuring a female transgender influencer, the owner of Marlboro cigarettes will sell $2.2bn of shares…

Welsh Water has agreed to pay its customers £40million after misleading regulators regarding its performance in terms of leakages and water consumption. Ofwat, a water regulator, stated that the company has been providing inaccurate data…

Hornby's annual revenue is expected to increase by 2 million pounds sterling after it adds Corgi racing cars to its model train collection and Scalextric racing car. The Frasers Group, owned by Mike Ashley, increased its investment in…

In South Carolina, a Boeing whistleblower was found dead. He had been giving testimony in a suit against the company. John Barnett, who retired in 2017 from Boeing after 17 years' service, later claimed that the company had serious…