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Triple profits for retailer AO World thanks to TV sales of Euro 2024
Online electrical goods retailer AO World enjoyed a near tripling of profits, thanks to the booming sales of tumble dryers during the rainy winter and TVs for Euro 2024.
The company attributes the popularity of air fryers to the fact…
Exxon’s massive project could be the last source of petroleum in the world
ExxonMobil executives work in a six-storey office building in the capital of Guyana, Georgetown. They are figuring out how to expand what is one of the world's largest offshore oil projects.
US energy giant, Hess, and Chinese group Cnooc…
Nvidia shares slide wipes out more than $550bn of market value
Nvidia's market value has dropped by more than $500bn since it briefly became the most valuable company in the world last week. Shares fell nearly 7 per cent Monday.
Nvidia's value has dropped from $2.91tn to $2.91tn. This is a drop of…
Frasers purchases THG’s Coggles site as they announce partnership deal
Mike Ashley's Frasers bought luxury goods sites from THG. The deal also includes selling the protein powder of the online health, beauty and wellness retailer in Sports Direct stores.
THG announced on Monday that it sold Coggles and…
Tate & Lyle: $1.8bn ingredient deal to boost health of products
Tate & Lyle believes that a backlash towards ultra-processed foods will present a "big chance" for it to make its largest acquisition ever of an ingredients company. The deal, it claims, will help it create healthier and tasty products.…
Revolut wants to value employee shares at more than 40 billion dollars
Three people familiar with the plans say that UK fintech Revolut aims to sell shares at a valuation of more than $40 billion, which would cement it as Europe's top start-up.
People familiar with the matter said that SoftBank, a company…
Mark Zuckerberg leads £18m funding round in Paul McCartney-backed start-up
Mark Zuckerberg, his wife Priscilla and their children have invested in a British company that is developing a screenless audio player for kids. The product has been a huge success with parents.
Chan Zuckerberg Ventures , the family…
Mexican billionaire Carlos Slim buys 3% of BT
Carlos Slim, a Mexican billionaire, has acquired a 3% stake in BT. This comes after Allison Kirkby, the new chief executive of BT's UK division revealed her plans for turning around the UK group during its annual results held last month.…
British company accused of providing NHS with ‘faulty Covid tests’ pays UK £5m
A British biotech company that produced thousands Covid-19 tests for the pandemic agreed to pay £5m in settlement of claims that they were defective.
Novacyt announced that it had reached a settlement with the Department of Health and…
The streaming giants will soon become their worst enemies
Good times can only last as long as the customers continue to pay higher prices
Lord Thomson, a Canadian media magnate who was a post-war media mogul and owned The Times, among other properties is credited with coining the phrase "a…
Italian company to target Britain with 20 mini-nukes
A new Italian energy company is planning to build 20 mini-reactors in the UK to capitalize on the expansion of nuclear power in the country.
Newcleo aims to build up to six mini-nukes in Britain. These sites will all be located near…
Insurance companies report a 20% drop in vehicle damage claims since the speed limit was reduced to…
Since the introduction of the 20mph speed limit in Wales last September, vehicle damage claims have decreased by 20% for one leading auto insurer.
Wales was the first country in the UK to introduce legislation last year for an automatic…
Saudi Arabia sells $12bn of Aramco shares
Saudi Arabia sells approximately $12bn in shares of its national oil company Saudi Aramco to raise capital for its sovereign fund.
Saudi Arabia will sell between SR26.7 to SR29.50 for at least 1,545bn shares or 0.64 percent of the…
Goldman Sachs invests more than $20bn in private credit
Goldman Sachs amassed over $20bn in private credit to invest, giving it the firepower to move ahead in one the fastest-growing sectors of the asset management sector.
The group announced on Wednesday that its asset management arm raised…
Report: Bulk gold exported from Africa to UAE
The UAE is accused of receiving tens and tens billions of dollars in gold that's smuggled from Africa each year. This reflects the growing concern about the illicit trade of precious metals.
Swissaid, in a comprehensive report, estimated…
Royal Mail’s sale of foreign mail could threaten a 500 year old national service
The takeover of Royal Mail, by a private financier, is a cause for concern. On the long-term, it is fair to say everything about the 500 year-old institution may be in danger.
After a few short years, the string of commitments that the…
St James’s Place is expected to be dropped from the FTSE 100
St James's Place will likely drop from the FTSE 100, after shares of the UK's biggest wealth manager dropped more than 55% over the last year.
In its quarterly report, the London Stock Exchange announced on Tuesday that SJP, whose shares…
Adam Neumann withdraws bid to purchase bankrupt WeWork
Adam Neumann, the founder of WeWork, has abandoned his bid to buy out the bankrupt shared-office space provider.
Neumann, the man who had been fired from WeWork in 2019 after a failed attempt to list the company on the stock exchange,…