Reform government would partially nationalise Rolls-Royce through ‘strategic stake’ Politics A Reform government would partially nationalise Rolls-Royce as a quid pro quo for helping it ramp up its small modular reactor (SMR) nuclear programme “as fast as it possibly can”, its policy chief has said. In a wide-ranging interview setting out his party’s plans for the UK economy, Zia Yusuf told City AM that Reform [...]
Intel: UK revenue slashed by over £1bn as profit cut Tech Revenue at the UK arm of technology giant Intel has been slashed by almost $1.5bn (£1.1bn) as its profit was cut significantly during its latest financial year. The division of the US group has posted a revenue of $3.3bn for 2024, down from the $4.7bn it achieved in 2023. New accounts filed with Companies House [...]
Avoid Tesla, Intel, oil and German equities in 2025 say analysts Investing Wall Street analysts have pencilled in strong gains for equity markets in 2025, following a robust performance in 2024. However, while analysts are optimistic about the outlook for the market as a whole, there are some assets Wall Street believes will underperform in the year ahead. Here are the four assets analysts are advising investors [...]
How ASML sparked a global chip stock sell off October 16, 2024 Chip equipment maker ASML warned of a slower than expected recovery in the semiconductor market on Tuesday, triggering panic among investors who quickly offloaded stocks across the sector. The company’s quarterly results, accidentally published a day early, revealed orders that were half of what investors had expected. The company also cut its forecast for next [...]
Microsoft: Tech giant announces mammoth buyback and hikes dividend September 17, 2024 Tech giant Microsoft has announced a new $60bn share buyback programme and hiked its quarterly dividend by 10 per cent. This new shareholder cash return replaces Microsoft’s previous $60bn programme, which was launched in 2021, and has no set expiration date. According to data from Birinyi Associates, the cash return is the third-largest repurchase scheme [...]
Nvidia shares slump despite company’s record-breaking revenue August 29, 2024 Nvidia shares are down over eight per cent in after hours trading even after it smashed its forecasts and posted record revenue. Revenue for the second quarter hit a new record of $30bn (£22.7bn), up 15 per cent from the first quarter and up 122 per cent from the previous year ago. Nvidia also posted [...]
Intel shares tank after chipmaker announces over 15,000 job cuts August 2, 2024 Intel has said it would cut more than 15 per cent of its workforce as the chipmaker pursues a major turnaround effort.
Intel: £4.2bn deal to buy Israeli chipmaker Tower Semiconductor lapses on China stall August 16, 2023 Intel and Israeli chipmaker Tower Semiconductor have “mutually agreed” to call off their $5.4bn (£4.2bn) deal due to regulatory hurdles from China. In a statement on Wednesday, leading semiconductor manufacturer Intel said it will pay a termination fee of $353m to Tower after the merger failed to get approval from regulators by its 15 August deadline. [...]
UK government’s letter to Visa, Deloitte and Allianz prompts rebuke from Olympic chiefs March 14, 2023 Olympic chiefs have issued a rebuke to the UK government over its lobbying of sponsors including Visa, Deloitte and Allianz for Russia to remain banned from sport. The UK has been among the most vocal and active opponents of the International Olympic Committee’s plan to lift the suspension of Russia and its ally Belarus. Culture [...]
Intel to cull thousands of jobs amid sales slowdown October 12, 2022 Intel is set to cull thousands of staff as the chipmaker attempts to fight off a sales slowdown. According to initial reports from Bloomberg, the layoffs will be announced as early as this month, slimming back its 113,700 global headcount. Sources told the publication that the sales and marketing teams could see as many as [...]