The end of the bear? This time is different August 11, 2022 Dr Chris Kacher unveils the exciting possibilities that lie ahead in the crypto markets, but with one eye on the macro.
HSBC is overstating Asia demerger cost, Ping An claims August 11, 2022 Britain’s largest bank HSBC is blowing up the financial hit from carving out its Asia business to water down pressure from its biggest shareholder to demerge, sources close to the matter said. Chinese insurer Ping An claimed selling off the high street lender’s highly profitable Asia arm would unlock $35bn (£29bn) in value for shareholders [...]
Shell sells oil stake from the sea floor August 11, 2022 Shell has kickstarted the sale process for its 30 per cent stake in the Cambo oil project in the North Sea.
Economic slowdown set to hit legal sectors’ bumper profits, new research shows August 11, 2022 The past year’s boom in dealmaking acted as a boon to the UK’s legal sector in leading to a major uptick in work for British clients. However, the economic downturn could reverse law firms’ fortunes and dent their profitability, new research from Thomson Reuters shows. Global law firms operating in the UK market saw their [...]
Arm co-founder steps down from board of China’s largest chipmaker August 11, 2022 A former president of British tech giant Arm has given up his role on the board of China’s largest chipmaker today, as semiconductor supply scales government agendas from East to West. In a LinkedIn post today, Arm co-founder Tudor Brown wrote: “A bittersweet day today. After nine years I resigned from SMIC board. Sad to [...]
Credit Suisse begins High Court claim against SoftBank in $440m dispute August 11, 2022 Credit Suisse is ramping up its legal fight against Japanese investment giant SoftBank as it looks to recoup losses linked to the collapse of supply chain finance firm Greensill Capital.
Litigation over recalled drug weighs on GSK, Haleon and Sanofi stocks August 11, 2022 UK pharmaceutical stocks GSK, Haleon and Sanofi have been dragged into the red today – losing billions in market value – ahead of a litigation around recalled heartburn drug Zantac. GSK’s shares have fallen more nearly nine per cent, its newly listed spinoff firm Haleon sunk as much as seven per cent and Paris-based Sanofi [...]
Exclusive: Energy crisis is a ‘state of emergency’ and the Government has to act now, warns So Energy August 11, 2022 The Government is running out of time to tackle rising household energy bills ahead of winter, warned Simon Oscroft, co-founder of So Energy.
Zurich posts highest first-half profits since 2008 financial crash August 11, 2022 Swiss insurance company Zurich today posted its highest first-half profits since the financial crash of 2008 and its second highest profits ever. The insurer said its business operating profits increased 25 per cent compared to last year to long-term highs of $3.393bn. The uptick in Zurich’s profits, which saw it second best results ever, came [...]
Profits at M&G plunge to £182m as market turbulence hits August 11, 2022 Investor M&G reported its profits had slumped by nearly half in the first six months of the year after it was rocked by “adverse market movements” and soaring inflation.
