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JD Sports signs $1.1 billion deal to expand in US
Retailer completes largest acquisition to date by purchasing Alabama-based chain
JD Sports has reversed the trend where UK companies are falling victim to American buyers. They have struck a $1.1bn deal (£900m), to buy a US sportswear…
Netflix profits surge after password-sharing crackdown
Netflix's crackdown against password sharing helped it to blow past Wall Street earnings expectations, but shares dropped after it announced it would stop regularly disclosing subscriber numbers.
The company's first-quarter operating…
Bank of America’s profits are hit by bad loan write-offs
The second largest bank in America wrote off $1.5 Billion of bad loans during the first quarter of this year, due to mounting losses on credit cards as well as its exposure to the faltering office market.
Bank of America reported that…
After US inflation rose to 3.5%, markets slash their rate-cut bets
After US inflation exceeded expectations, traders slashed their bets on Federal Reserve rate cuts Wednesday. Joe Biden also acknowledged that there was still "more to be done" in combating price increases.
After official data revealed a…
The news-driven hedge fund raises 100 million dollars to trade on journalists’ scoops
A US hedge-fund raised $100mn for trading based on articles from its affiliated newsroom. This is a new experiment to fund investigative reporting at a time when the media industry is suffering a new round of layoffs.
The venture is an…
US and Japan to upgrade security pact, the biggest in 60 years
In an effort to counter China, the US and Japan plan to upgrade their security alliance to its highest level since 1960 when they signed a Mutual Defence Treaty.
Five people with knowledge of the situation have confirmed that President…
US Congress releases $1.2tn in spending to avoid shutdown
On Thursday, Congressional leaders announced a $1.2tn budget package to fund a large part of the federal Government. There are less than two weeks left to avoid a partial government shutdown.
Leaders from both parties celebrated their…
Blackrock is told to reconsider ESG by activist Bluebell
Bluebell Capital, an activist investor, has launched a new campaign to force the $10 trillion fund giant BlackRock to rethink its lauded commitments towards environmental and social governance (ESG).
Next month, the London-based hedge…
The number of US banks that are weaker has increased as NYCB’s capital increase of $1bn…
Regulators warned that the number of US problem banks has increased by 18%, while New York Community Bank, led by Steven Mnuchin, former US Treasury Secretary, stabilised itself with a $1bn in capital raised.
The recent struggles of NYCB…
Shein is considering a London listing if the US IPO is blocked due to ties with China
Shein will consider London as a backup option for a massive flotation if US authorities block its preferred choice of a New York IPO due to its ties with China.
The Singapore-headquartered company has pitched the UK as an alternative…
Biden’s antitrust crackdown catches the largest US supermarket deal
The Federal Trade Commission filed a lawsuit to stop Kroger from acquiring Albertsons. This would be the largest supermarket merger ever in US history, and is the latest example of Washington's anti-competitive crackdown.
The FTC on…
Capital One agrees to buy Discover Financial for $35bn
US lender Capital One has agreed to buy rival Discover Financial for $35.3bn, in an all-stock tie-up that is set to unite two of America's largest credit card companies.
Capital One's acquisition of Discover values its smaller rival's…
SEC tightens oversight of $26tn Treasury Market
US regulators have brought high-speed traders, some hedge funds and the $26tn Treasury Bond market under direct supervision. This is a measure to improve its stability after a series crises.
The Securities and Exchange Commission voted…
The bid to take over Paramount is not a joke
A former stand-up comic turned film producer and entrepreneur made a $30 billion bid for Paramount Global. It is one of America's largest entertainment companies.
Bloomberg News reports that Byron Allen, 62 years old, founder and CEO of…
Netflix signs $5bn agreement to livestream WWE Raw
Netflix has signed a five-billion dollar deal to stream World Wrestling Entertainment’s flagship Raw program in the US for the next decade. This is the biggest move yet by the company into streaming live events.
The streaming service…
GSK faces a pivotal moment when the Zantac hearing begins
Leading British drug companies, together with other pharmaceutical groups are urging an US judge to rule that the evidence plaintiffs' attorneys want to use to support their 72,000 lawsuits alleging that discontinued heartburn drug Zantac…
Furious American group abandons new Sphere venue in London
The American entertainment company that had been backing a 21,500 capacity Sphere venue in East London has dropped the project, claiming it became a "political ball" between the London mayor and the London government.
Sphere…
Wall Street’s New Year hangover sends Big Tech stock lower
Wall Street stocks began the year with a tech-driven hangover, after the rally which ended in 2023 became cautious. Tech stocks had their worst day for more than two month.
The Nasdaq Composite ended the day down by 1.6 percent, its…