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Stockmarket News
The world is in need of a wake-up call after the US default on its debt
Interest rates will skyrocket. Stock and bond markets are going to crash. The global financial system will be in turmoil as investors rush to find safe assets.
Every day, the clock ticks closer to the deadline of a deal between…
Carl Icahn makes $9bn mistake on bearish bet
Carl Icahn admitted that he made a mistake by betting on the crash of the stock market. The bet cost his group $9bn in six years.
According to an analysis, the activist investor who is well known for his hedging strategies lost $1.8bn on…
Stock markets rise on optimism about US debt ceiling talks
The stock markets in London, Europe and the US rallied on Monday morning amid optimism that Washington is getting closer to an agreement to raise the US Debt Ceiling and avoid default.
The FTSE 250 also gained 101.41 points or 0.5…
Tesla faces a bumpy 12 month road
Elon Musk warned shareholders last night that a tough year for the global economy could disrupt Tesla. He urged them to ignore the stock exchange.
Tesla's boss, Elon Musk, told the annual Tesla meeting in Texas that "this is going to be…
The MPs have warned that crypto is gambling, and that consumers need to be protected.
Trading in bitcoin and other speculative cryptocurrencies should be regulated as gambling to avoid consumers from being lulled into a false sense of security about the risks posed by the $1.2 trillion market, MPs have warned.
The…
UBS reports lower than expected 35bn profit from Credit Suisse rescue
UBS expects a $35bn gain in its accounting as a result from the state-brokered rescue Credit Suisse. This is lower than what some predicted. Separately, UBS disclosed $17bn worth of asset writedowns, litigation provisions, and other…
London brokers prepare for a shake-up, as the equity market stagnates
UK brokers and boutique investment banks are bracing for further consolidation as a stagnant London stock market increases the pressure on an industry whose lifeblood is listings and takeovers.
A dearth of flotations and subdued activity…
Tiger Global to sell part of its portfolio of 40 billion dollars of private companies
According to sources familiar with the situation, Tiger Global, a technology-focused hedge fund that manages more than $40bn in privately owned companies is looking at options to sell a portion of this portfolio.
According to the…
Vodafone partners with its principal investor
Vodafone has formed a strategic alliance with its largest shareholder - a UAE based telecoms firm.
Emirates Telecommunications Group (e&), which owns a 14.6% stake in Vodafone will become a "cornerstone shareholder" and seek to…
Compass Group announces a share buyback following a strong half-year result
Compass Group announced that it would buy back £750 million worth of shares, following a strong year in trading. This is doubling the amount given to shareholders since last May.
The FTSE 100 cater giant said the buyback was a result of…
HMRC will hold Bitcoin as part of plans to confiscate crypto from tax evaders
HMRC is looking at introducing new rules to allow it to seize cryptocurrency when businesses fail to pay taxes.
is planning to modernise the way tax is collected at the digital age. The government is considering proposals to give tax…
Twitter has a new way to correct online lies.
Community Notes is a powerful feature of the platform that relies on consensus. In November, I may have let out a loud groan when I heard Elon Musk declare that his mission is to make Twitter the "most accurate source of news about the…
Haleon gains clarity from Pfizer stake sale
Pfizer, the world's largest standalone consumer health company, welcomed the prospect of a "slow-and-methodical" reduction of its stake in Haleon on Wednesday. The company revealed that it had seen a rise of revenue in the first quarter of…
Unilever shareholders reject the pay plan, a major blow to the incoming CEO
Unilever's shareholders rejected the company's plan to pay executive salaries, a blow for the incoming boss Hein Schmacher even before his July start date.
Almost 60% of the votes cast at the FTSE100 company's annual general meeting on…
Pret’s subscription for five coffees a day will now cost £30 per month
Pret a Manger will increase the price of its subscription by a fifth, but add a 10% discount to food and drinks as well as a free drink offer starting Wednesday. The sandwich chain is warning that "inflationary challenges" remain.
Pano…
After blocking Microsoft-Activision, the UK’s competition watchdog says that it is now open…
The UK's chief competition officer has said that the UK "is absolutely open for business". This comes a day after the UK blocked Microsoft's $68.7 Billion acquisition of Activision - the maker of Call of Duty.
Senior executives from both…
Pascal Soriot, AstraZeneca’s boss, warns that Europe is at risk of falling behind its…
The UK and wider European area is falling behind other major life sciences markets. This warning comes from the CEO of Britain's largest pharmaceutical company.
Sir Pascal Soriot of AstraZeneca said today that the region was behind the…
Deutsche Bank claims it was the victim of a speculative attack during turmoil
Deutsche Bank said that customers withdrew money from the largest German lender after a "speculative assault" sent the share price plummeting last month. This highlights the extent of the turmoil in the financial sector.
James von Moltke…