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Saudi Arabia seeks OPEC+ oil production quota cuts while some members resist
Saudi Arabia has asked other members of the OPEC+ alliance to reduce their oil production quotas to stabilize global markets, but some are refusing to comply.
OPEC+'s leader, who asked not to be named because this information is…
ESG investors who bet big on tech are gripped by a ‘AI blowback’ anxiety
Fund managers who focus on environmental, social, and governance (ESG) investing have turned to big technology companies as a way to make low carbon investments with high returns. However, they are now growing worried about the technology…
Selfridges Group to be taken over by a Thai investor
A Thai investor, Central Group, is poised to acquire the London-based upmarket department store Selfridges. This comes amid a financial crisis for its Austrian coowner Signa.
Central Group, which is owned by the Chirathivat Family,…
Market Reckoning, Round Hill Face UK Trust and Hipgnosis are trusted by investors
A British lawyer created the first investment trust in 1868 to pool small amounts of money and buy bonds from nations ranging from Turkey to Egypt.
The closed-end funds that were traded on stock markets are now worth approximately £260…
The ransomware attack on ICBC disrupts the US Treasury Market
Market participants reported on Thursday that a ransomware attack against the Financial Services arm of China’s largest bank, the Industrial and Commercial Bank of China, has caused the US Treasury Market to be disrupted by forcing…
Shares of UK chip designer Arm fall following disappointing revenue forecast
The shares of UK chip designer Arm dropped after its revenue projection for the current quarter disappointed Wall Street in its first earnings release since it went public in September.
Arm forecast revenue between $720mn and $800mn for…
Lloyds to Sell Scottish Widows Annuities in Bulk
Lloyds Banking Group Plc, according to sources familiar with the situation, is working with investment bankers on the sale some assets of its pension provider Scottish Widows.
People familiar with the matter said that Morgan Stanley and…
Peel Hunt: UK Stock Market in a Doom Loop as it Shrinks
According to UK investment bank Peel Hunt, the market for Britain's small and medium-sized stocks is rapidly shrinking, putting London's reputation as an international financial centre at risk.
The UK market is losing more companies than…
BP shares drop after profit misses estimates on weak gas trading
BP Plc’s third-quarter profits rebounded from prior periods, but fell short as weak results in the gas marketing sector offset a good performance in oil trading.
As of 8:03 am in London, shares of the company dropped 4.1% to 505.2p.
BP,…
HSBC plans to buyback $3 billion, CEO touts capital strength
HSBC Holdings Plc has announced a new buyback program, hinting at potential future returns for investors despite announcing a third-quarter profit that fell short of market expectations.
The London-based bank announced it would soon begin…
China tech IPOs drop as regulators crack down on startups
After regulators raised the bar on initial public offerings to select domestic champions who can assist Beijing in its drive for technological self-sufficiency, a record number of companies dropped their plans to list at Shanghai's…
Jim Ratcliffe won’t be able to buy Manchester United shares through his companies
Ineos Group, the chemical company owned by British businessman Jim Ratcliffe, has assured creditors that it will not tap into its chemical empire in order to finance an offer for a share in Manchester United.
Ineos Quattro executives, a…
The Yen (JPY), which is the Japanese currency, has fallen to a level not seen in three decades when…
The dollar fell below 150 again, increasing the risk of intervention by the government on the currency market. This increased pressure on the Bank of Japan for it to adjust its monetary policy.
The currency was trading in the same range as…
The Catastrophe bond market is set for a major surge in issuance
This year, the market for catastrophe bond is one of the best performing debt classes. The World Bank is a major issuer and will be increasing its offerings, which should lead to an increase in sales.
Over the next five-year period, the…
Power Capital Renewable Energy, a PE-backed company, is for sale: Times
There are flights from New York, London, Los Angeles, Paris, Bangkok, and Athens.
Israel's diaspora, which includes reservists and volunteers, is returning home despite the cancellation of services by several airlines.
Israel Bachar is…
Investors pay highest premium ever to hold European risky debt
The highest premiums in seven years are being paid by Europe's most risky corporate borrowers to access the €412bn junk bonds market. This is a sign of growing concerns that an extended period of high rates and a slowdown in the economy…
The threat of war in the Middle East puts markets on edge
Cooperation between developed nations fractures as prospect for wider crisis looms
A deadly explosion at a Gaza hospital drove oil prices to their highest level since the outbreak of war between Israel and Hamas on Wednesday.…
RMT members support further action and could extend the train strikes for another six months
Sir Keir starmer has received the backing of one of the most influential financiers in the world. He said that Starmer had given him hope for politics.
Larry Fink is the Chairman and Chief Executive of BlackRock. The world's biggest fund…