US Bitcoin Policy Summit: It’s time for the US to embrace crypto April 26, 2023 Ahead of the US Bitcoin Policy Summit, Nigel Green sets out some ideas for senators and congressional leaders to consider.
Standard Chartered profit rises 21 per cent but confirms “no contact” with suitor First Abu Dhabi Bank April 26, 2023 Standard Chartered beat expectations in the first quarter as rising interest rates once again boosted the bank but it confirmed there had been not contact with First Abu Dhabi Bank. The emerging markets-focused lender reported a pretax profit of $1.8bn, rising 25 per cent year on year and beating market expectations of a $1.4bn profit. [...]
Spotify hits record half a billion monthly users and forecasts future revenue to soar April 25, 2023 The number of monthly active users on Spotify passed the half a billion milestone for the first time, the music streaming platform reported today. The number of monthly active users rose 27 per cent to 515 million in the first quarter of this year, 15 million more than the company’s estimates. Premium subscribers also grew [...]
LVMH becomes first European company to reach $500bn in market value April 24, 2023 LVMH became the first European company to reach $500bn (£401bn) in market capitalisation on Monday morning as the luxury retailer was strengthened by a renewed demand from Chinese consumers. According to reports published in The Financial Times, shares in the Paris-listed company rose 0.3 per cent against last week’s close to €903.7 (£799) shortly after [...]
Standard Chartered, Barclays, Natwest kick off UK bank earnings this week with interest income back in focus April 24, 2023 Profit looks set to increase at the UK’s largest lenders as they line up to report first quarter earnings over the coming two weeks. The FTSE banking giants have seen relative stability over the last few weeks following the extreme volatility in March, but this stability means investors will refocus their attention on other major [...]
HSBC exaggerating costs of spinning off Asia unit, Ping An argues in rare rebuke April 18, 2023 Ping An, HSBC’s largest shareholder, has publicly criticised the bank ahead of its AGM as it confirmed it will back calls to restructure the lender. The Chinese insurer, which holds an eight per cent stake in the bank, has long argued in favour of spinning off HSBC’s Asian business, which generates the vast majority of [...]
Ping An to vote for HSBC break-up at upcoming AGM – reports April 17, 2023 Ping An has thrown its weight behind proposals from investor Ken Lui to break up HSBC ahead of the bank’s Annual General Meeting (AGM) in early May, according to Reuters. The Chinese insurer will vote in favour of resolutions calling for the bank to lift its dividends and for it to provide regular updates on [...]
FTSE 100 close: THG skyrockets 40 per cent while miners edge London index higher April 17, 2023 London’s FTSE 100 kicked off a fresh week in muted fashion today, inched higher by investors snapping up shares in mining giants, while fashion firm THG skyrocketed more than 40 per cent on mounting takeover rumours. The capital’s premier index added 0.1 per cent to close at 7,879.52 points, while the domestically-focused mid-cap FTSE 250 [...]
Ashmore: AUM flatline as asset manager takes hit from ‘stresses in banking system’ April 17, 2023 Ashmore has said the assets under management were broadly stable in the most recent quarter despite high interest rates and ongoing market turbulence. The London-listed asset manager reported a total increase of funds under management of just one per cent for the quarter ending on March 31 on Monday, to a total of £46.4bn ($57.7bn.) [...]
A tale of two markets: ‘Muted’ UK recruitment offset by thriving Europe, says Robert Walters April 6, 2023 Robert Walters said its group profit remained flat in the first quarter of 2023 compared to last year, as a European recruitment drive offset falls elsewhere. Group profit was flat compared to last year on a constant currency basis, although it rose four per cent to £102.4m from £98.4m on a reported level. The recruiter [...]