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US Supreme Court blocks Purdue Pharma bankruptcy settlement which would have shielded Sacklers…
The US Supreme court rejected Purdue Pharma’s bankruptcy settlement plan, which included a measure extraordinary to protect the Sackler family from further liability regarding the American opioid crisis in exchange for funds for…
After attack, US stops avocado and mango inspections
A recent attack on two US Department of Agriculture employees led to temporarily suspend safety inspections of avocados and mangoes, which could disrupt a $2.4bn trade between Mexico and the US.
In a press release, Ambassador Ken Salazar…
London listing of Boots canceled by American parent
Boots, owned by the American pharmacy chain CVS, has canceled plans to list the high-street retailer on the London stock exchange. This will deprive the UK of an eagerly anticipated listing.
Walgreens Boots Alliance has ceased to…
Ashtead, a FTSE-listed company, is considering a £25bn transfer to the US as a new blow to London
One of Britain's most prominent blue-chip firms is considering a move from London to New York, which would be the biggest blow to the London Stock Exchange yet.
Ashtead is a FTSE 100 company that specializes in plant hire. It is…
Elliott Management pushes SoftBank for $15 billion buyback
Elliott Management, an activist American investor, has repurchased a significant stake in SoftBank, and now wants the Japanese technology fund, SoftBank, to deliver returns for shareholders worth billions of dollars.
The US hedge fund…
Blackstone, a US private equity firm, has snatched up thousands of rental properties in the UK
Blackstone, a US private equity firm, has agreed to buy a number of new homes in the UK to take advantage of soaring rental prices.
Blackstone has purchased up to 1,750 houses after striking a £580m agreement with developer Vistry.…
Walmart beats forecasts thanks to resilient consumers
Walmart has surpassed Wall Street's expectations for profit and sales and increased its forecasts this year thanks to an increase in online sales.
The largest American retailer, which has a large number of stores in the United States,…
Dow index crosses 40,000 for the first time
The oldest American equity index, the Dow Jones Industrial Average, broke through the 40,000 mark for the first-time on Thursday. It then slipped back to its second highest closing level.
The Dow Jones Industrial Average, which began…
Shell earns $1bn per year in US oil trading according to court documents
Shell's oil trading activities in the United States generate about $1 billion per year, according to court documents that provide a rare glimpse into Shell's secrecy trading division.
A former Shell employee revealed the figure in court…
Concord wins the bidding war against Blackstone for Hipgnosis
Hipgnosis Songs Fund is at the center of a bidding war after Apollo-backed US Investment Group Concord beat a rival bid from Blackstone, raising their own offer to $1.5bn.
Blackstone over the weekend presented a proposal to its board of…
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…