Profit slump revealed at Jim Ratcliffe-backed Petroineos ahead of major closure May 15, 2025 Profitp at Petroineos slumped in the months leading up the closure of its Grangemouth refinery, heavily delayed accounts have revealed, as the energy trading company wrestled with economic uncertainty, supply chain shocks and a shift away from fossil fuels. The Jersey-based business, which is backed by billionaire Manchester United owner Sir Jim Ratcliffe, posted a [...]
Crystal Palace face FA Cup final amid boardroom battles and upheaval May 14, 2025 Crystal Palace’s preparations for Saturday’s FA Cup final have been taking place against a backdrop of more discord in the boardroom. The club’s biggest shareholder John Textor has made renewed attempts to purchase the combined 36 per cent stake of fellow American investors, Josh Harris and David Blitzer, with the timing of his latest approach [...]
Future of UK Nissan factory uncertain amid global plant closures May 13, 2025 Nissan is addressing the future of its Sunderland factory after confirming plans to slash 20,000 jobs worldwide and cease operations at nearly half of its production facilities. The Japanese carmaker on Tuesday said it would consolidate its vehicle production plants from 17 to 10 by fiscal year 2027. Nissan currently employs around 6,000 workers at [...]
Tesla and Apple shares surge as US markets rally on trade deal May 12, 2025 Markets on Wall Street soared on Monday as investors welcomed the trade progress between the US and China. The S&P jumped over 2.6 per cent as markets opened and the Dow Jones 2.41 per cent. Amazon gained over seven per cent and Nike six per cent. The tech-heavy Nasdaq rallied 3.5 per cent. Tech giants [...]
Nissan job cuts stretched to 20,000 – reports May 12, 2025 Nissan plans to slash as many as 20,000 jobs amid a wider restructuring of the struggling Japanese carmaker’s business. The automaker initially announced plans to layoff 9,000 employees in November. That figure has since been increased by 11,000 following a rougher-than-expected start to the year, according to a report from the Japanese national broadcaster NHK [...]
Apple looking at raising iPhone prices May 12, 2025 Apple is considering raising prices for its next iPhone lineup, with increases likely tied top new features and design changes, rather than ongoing US-China trade tensions. The current lineup ranges from $799 to $1,199. Yet analysts believe the newest model, Pro Max, could hit $1,900 if its pricing reflects upgrades and tariff costs. The Wall [...]
Aston Martin: PIF and Geely billionaire’s shares shift after investment May 12, 2025 The proportion of shares Saudi Arabia’s Public Investment Fund (PIF) and Chinese billionaire Shufu Li’s hold in luxury car brand Aston Martin has changed following a major shares issue. In March Yew Tree Consortium, which is led by chairman Lawrence Stroll, placed 75 million additional shares in the London-listed business. As a result, both the value of the [...]
HSBC and Standard Charted shares surge as trade war cools May 12, 2025 Shares in banking giants HSBC and Standard Chartered surged on Monday morning as the trade tensions between the US and China appeared to cool. HSBC jumped nearly four per cent, taking its gains for the month to over 14 per cent. Standard Chartered soared over seven per cent, with monthly gains topping 17 per cent. [...]
China and US announce 90-day pause on tariffs May 12, 2025 China and the US have watered down tit-for-tat tariffs in a landmark 90-day pause that represents a de-escalation of their ongoing trade war. Both countries had imposed tariffs of over 100 per cent on one another in the fallout to President Trump’s ‘Liberation Day’ at the beginning of April, causing the UN to suggest that [...]
US and China resume tariff talks after Trump hails ‘great progress’ May 11, 2025 The US and China have resumed crucial tariff talks that have put the global economy on edge, with each side appearing to have diverging views of where the negotiations presently stand. President Donald Trump wrote on social media that “great progress” is being made and even suggested a “total reset” is a possibility as the [...]