Carrefour shares nosedive as billionaire Bernard Arnault sells entire stake September 1, 2021 Carrefour shares are tumbling today on news that billionaire Bernard Arnault is selling his entire stake. Watch the full report.
Betting boom: Gambling giant 888 UK revenues surge over 50 per cent September 1, 2021 Online gambling giant 888 has enjoyed an upbeat first half of the year as its total revenue has jumped 39 per cent, hinting that the lockdown betting boom is here to stay. The company pulled in $528.4m in the six months to 30 June, up from $379.1m in the first half of 2020 – carried [...]
National Grid’s £7.8bn power deal gets green light from competition watchdog September 1, 2021 The UK’s competition watchdog has today given the green light to National Grid’s whopping £7.8bn deal to buy Western Power Distribution (WPD). Based on the information currently available, the Competition and Markets Authority (CMA) said it had decided not to refer the merger to a phase 2 investigation. Back in March National Grid announced that [...]
CEO confidence in the global economy returns to pre-pandemic levels September 1, 2021 CEOs of the world’s largest businesses are increasingly optimistic about the global economy’s immediate prospects. Despite a slower ‘return to normal’ than expected, CEOs’ expectations have finally reached above pre-pandemic levels. The KPMG 2021 CEO Outlook found that 60 per cent of leaders are confident about the global economy’s growth prospects over the next three [...]
Sliding tech stocks weigh on Wall Street August 31, 2021 US stocks slipped today as poor performances among technology heavyweights weighed heavily on Wall Street’s main benchmarks. The tech-heavy Nasdaq slipped 0.10 per cent to 15,250.36 points, led down by losses among Apple, Microsoft and Amazon. The blue-chip S&P 500 and the Dow Jones both inched up, rising 0.02 per cent and 0.08 per cent [...]
Tencent ends all exclusive music rights deals after Beijing crackdown August 31, 2021 Tencent has ended all its exclusive music licensing agreements with record labels across the world after Chinese regulators ordered it to do so last month, as part of an intensifying crackdown on the country’s tech giants. In a statement released on the Chinese tech conglomerate’s official WeChat page, Tencent said all parties involved in the [...]
China: Economy under pressure as services sector slumps into contraction August 31, 2021 China’s businesses and the broader economy came under increasing pressure in August as factory activity expanded at a slower pace while the services sector slumped into contraction, raising the likelihood of more near-term policy support to boost growth. Watch the full report.
SoftBank-backed Indian Uber rival Ola tables plans for $1bn IPO August 31, 2021 Indian Uber rival Ola is reportedly sitting on plans to raise up to $1bn through an initial public offering (IPO), joining a long line of high-ranking floats in the country. Currently finalising banks to advise on the fund-raise, Softbank-backed Ola is in talks with Bank of America and JP Morgan, three people familiar with the [...]
Eurozone inflation soars to decade high August 31, 2021 Eurozone inflation soared to its highest level in a decade this month to breach the European Central Bank’s target, according to official figures published today. Data released by Eurostat, Europe’s statistical agency, shows prices rose three per cent this month in the 19 countries that make up the Euro area, ticking up from 2.2 per [...]
Soaring inflation to add £12bn to Rishi Sunak’s debt burden August 31, 2021 Soaring inflation could add at least £12bn to the already heavy debt burden weighing on the public finances, possibly crimping Rishi Sunak’s room for giveaways at the upcoming budget. Higher-than-expected RPI inflation is set to push debt interest payments above official forecasts produced by the government’s spending watchdog. In its latest official forecasts published in [...]