First Republic shares recover slightly as investors hope for a rescue deal April 27, 2023 First Republic shares recovered slightly on Thursday as investors hoped the bank would be rescued from collapse. Shares in the San Francisco-based lender were trading 11 per cent higher on Thursday, although as yet there are no signs of a rescue package. Bloomberg Intelligence’s Herman Chan suggested the rebound resulted from “short-covering” as “there hasn’t [...]
Vodafone appoints Margherita Della Valle as new chief executive April 27, 2023 Vodafone has appointed interim chief executive Margherita Della Valle to the top role permanently, the company announced on Thursday. Vodafone’s chair, Jean-François van Boxmeer, said Della Valle was selected after a “rigorous internal and external search.” “Over the last few months as interim group chief executive, the board and I have been impressed with her [...]
FTSE 100 close: Barclays surge fails to prevent losses on London index April 27, 2023 London’s FTSE 100 slipped today, pushed lower by investors wobbling over concerns about the health of the global economy amid banking and interest rate fears. The capital’s premier index dropped 0.27 per cent to 7,831.59 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, climbed [...]
PwC invests $1bn in AI tools – but insists jobs are safe April 27, 2023 PwC will invest $1bn to develop AI tools for its staff to use across its audit, tax and consulting services in its American business, but has insisted that it won’t lead to job losses. The Big Four accountant will work with the creator of ChatGPT, Microsoft-backed OpenAI, to develop generative tools, which it hopes will [...]
Molten Ventures tech portfolio slumps nearly £200m – but it’s not all doom and gloom April 27, 2023 Listed venture vehicle Molten said the value of its holdings had slumped by more than £200m in the year to the end of March as high-growth tech firms are buffeted by an economic downturn.
WPP chief says use of AI in advertising is an ‘opportunity’ not a threat April 27, 2023 Contrary to some commentators’ fears, chief of WPP Mark Read has called artificial intelligence a “massive opportunity to optimise creative” work rather than representing a threat. Speaking to the Financial Times, Read revealed the advertising giant has already been using artificial intelligence and automation to “amplify” its creative work for some years. He added that [...]
Gold miner Newmont’s quarterly profit beats estimates on higher prices April 27, 2023 Newmont beat Wall Street expectations for first-quarter profit on Thursday, benefitting from higher prices of the yellow metal.
The Punter Summary Podcast 29 April April 27, 2023 Here’s your chance to hear all of City AM racing editor Bill Esdaile’s best weekend tips in a short summary episode of ‘The Punter Podcast’ alongside Chris Barnett. The full weekend preview, featuring some leading interviews, is also available on the City AM website. The Punter ‘The Punter’ has been City AM’s dedicated sports betting [...]
Asda and EG Group £12bn merger would risk jobs and food supplies, union warns April 27, 2023 A union representing workers at Asda has said a potential merger of the supermarket with EG Group’s UK petrol stations could risk jobs, food supplies and monopolise petrol stations across the UK. The GMB Union wrote to Business Secretary Kemi Badenoch urging her to call in the competition regulator to investigate the possible multibillion pound [...]
Explainer: The long tail of the cost-of-living crisis April 27, 2023 With one in five young adults simply not paying at least one bill to make ends meet, inflation could dent their prospects for years to come.
