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Investors fear Thames Water contagion, Barclays says

A potential failure at the UK’s biggest water provider could carry sector-wide risks, survey finds

Handbag deal challenge contains warning for all serial acquirers

The FTC has defined a specific market of accessible luxury it says will be harmed if the deal goes through

Jeep maker Stellantis to lay off an unspecified number of factory workers in the coming months

Jeep maker Stellantis is planning to lay off an unspecified number of workers at its U.S. factories in the coming months to deal with a rapidly changing global auto market, the company said Tuesday. The statement comes as Stellantis faces increased capital spending to make the transition from ...

Lenders flying blind on private equity risk, Bank of England warns

Regulator says sector needs a consolidated view to avoid a repeat of Archegos fiasco

TikTok has submitted risk assessment report on TikTok Lite to EU

Lucia di Lammermoor at ROH: A stunning soprano in an absorbing opera

This revival of Lucia di Lammermoor is an almost perfectly pitched production. A stunning lead soprano in an absorbing retelling of a classic

Fownes looking to rise on Cloud of Glory at the Valley

IT HAS been good to see trainer Caspar Fownes back in the winners’ circle in the last couple of weeks. In fact, Fownes has had a pretty good month in April with six wins and eight places from just 38 runners. When it comes to saddling winners at Happy Valley, Fownes is usually in a [...]

The Way Advisers Handle Your Retirement Money Is About to Change

More investment professionals will be required to act in their customers’ best interest when providing advice about their retirement money.

Howie Schwab, ESPN Researcher and Trivia Star, Dies at 63

He stepped out of his behind-the-scenes role in 2004 when he was cast as the ultimate sports know-it-all on the game show “Stump the Schwab.”

FTC Bans Worker Noncompete Clauses

The rule would prohibit companies from limiting their employees’ ability to work for rivals, a change that could increase competition and boost wages.

Donald Trump is owed an extra $1.5b worth of shares in Truth Social

The former US president’s sizable stake in his social media company is set to jump even more as he’s rewarded with additional shares in its parent company. But he can’t sell any of them for months.

Designing for disability: how video games become more accessible

Gaming provides entertainment and community for billions of people worldwide. However, video games haven't always been accessible to those with disabilities. But this is changing. Today, in the next installment of our series on the business of video games, we explain how accessibility has ...

Trump to score additional $1.2 billion windfall thanks to his Truth Social app

Trump is getting additional shares in his social media company, Trump Media & Technology Group, as part of his current agreement. He still can't cash in yet though.

Alert: Congress sends Biden bill requiring TikTok's parent company to sell the platform or face a US ban

Congress sends Biden bill requiring TikTok's parent company to sell the platform or face a US ban.

Two-way EV charging could offer profits for automakers

As bidirectional electric vehicle charging becomes more feasible, automakers like General Motors and Volvo are trying to figu -More- 

Zero-waste chef on building a sustainable CPG brand

Camilla Marcus created zero-waste eatery west~bourne in New York City's SoHo neighborhood in 2018 and shifted gears during th -More- 

Survey: US credit investors say geopolitical tension is top concern

Geopolitical risk is the top concern among US corporate credit investors, but investors are largely bullish on investment-gra -More- 

Levi Strauss shifts focus to DTC model, growth beyond denim

Levi Strauss is focused on selling directly to consumers through its stand-alone stores and using data and insights collected -More- 

Ex-Centerview banker did not clinch partner deal at meeting, US court rules

Decision hurts David Handler’s chances of securing potentially millions of dollars in equity he sought from the elite M&A boutique

How to tailor benefits technology to your needs

Benefits technology doesn't come in a one-size-fits-all solution and needs to be customized for each business's needs, writes -More- 

Nobody puts Beyonce in a corner: Overcoming exclusion

Despite her Southern roots, Beyonce didn't get the warmest of reactions from some country music fans when she performed with  -More- 

How major US stock indexes fared Tuesday, 4/23/2024

Stocks rallied for a second straight day on Wall Street, softening what’s been a rough April. The S&P 500 added 1.2% Tuesday to pull further out of the hole created by a six-day losing streak. The Dow Jones Industrial Average climbed 0.7%, and the Nasdaq composite rose 1.6%. ...

Tesla lays off more than 3,300 California workers, mostly in Bay Area

More than 1,400 of Tesla’s layoffs are at its huge Fremont factory.

Husband of ex-Post Office boss advised on IT 'bug'

A decision to use "less emotive" words for problems with Horizon is called "Orwellian", inquiry hears.

Bangladesh FTA negotiations given nod

The cabinet yesterday endorsed a commitment to engaging in Free Trade Agreement (FTA) negotiations with Bangladesh to enhance bilateral trade.

Dimon cautions over soft landing for ‘unbelievable’ US economy

JPMorgan Chase chief says in interview that he’d ‘love to be president, but you’d have to anoint me’

Biden announces solar grants, waterway conservation efforts

President Joe Biden marked Earth Day by committing $7 billion to support residential solar projects and announcing plans to p -More- 

Nike backtracking on DTC, refocusing on innovation

Amid stagnant sales, Nike CEO John Donahoe says the company has lost the innovative edge that once defined its brand and prod -More- 

Two UK water companies lack complete maps of sewage networks

Shortage of data raises questions over condition of infrastructure as groups seek sharp increases in bills

Tesla revenue declines in first quarter as vehicle sales slow

Elon Musk-led electric vehicle maker pledges to speed up launch of new models

‘It Is Desolate’: China’s Glut of Unused Car Factories

Manufacturers like BYD, Tesla and Li Auto are cutting prices to move their electric cars. For gasoline-powered vehicles, the surplus of factories is even worse.

Three-year-olds groomed online, charity warns

IWF says many were likely filmed remotely while using phones or other handheld devices at home.

Starbucks set for talks with unionized U.S. stores

Starbucks is set to hold talks with labor representatives from stores that have voted to unionize in a key step towards reaching contracts, both sides said Tuesday. The…

Plus Property Sets Ambitious 2024 Revenue Goal

Plus Property Co., Ltd. (PLUS) is reinforcing its leadership in comprehensive professional property and facility management, aiming to expand its business while maintaining its top position in quality. Over the past year, PLUS successfully managed approximately 400 real estate projects ...

Tensions between Beijing and Washington are biggest worry for U.S. companies in China, report says

Simmering tensions between Beijing and Washington remain the top worry for American companies operating in China, according to a report by the American Chamber of Commerce in China…

Ithaca Energy to buy Eni’s UK assets for about £754m

North Sea oil and gas producer Ithaca Energy said on Tuesday it would buy Eni's UK upstream oil and gas assets for about £754m in an all-stock deal.

Tesla profits nosedive as more job cuts announced

The EV maker slashes more jobs and brings forward new models as profits drop by more than half.

Planning hurdles holding back the power grid’s race to renewables

Wind and solar farms are waiting up to two years for planning permission, as investors take aim at “pinch points” obstructing efforts to wean the grid off coal.

Russia’s deputy defence minister detained on suspicion of receiving a bribe

Tesla’s profits are being sunk by a tide of electric cars

Elon Musk’s electric car giant has seen first-quarter profit more than halve as the market for electric vehicles is awash with excess capacity and production.

US Senate approves bill banning TikTok unless Chinese owner sells platform

Move could lead to obsolescence of video app used by 170mn Americans

ASPS sees interest rate cut in June

The Bank of Thailand is expected to cut interest rates only once this year, at its June meeting, propping up the Stock Exchange of Thailand (SET) index from a low of about 1,350 points at present to a high of 1,450 points this quarter, according to Asia Plus Securities (ASPS).

Arrivals set to soar amid holidays in East Asia

Chinese and Japanese tourists are expected to flock to Thailand during the Labour Day holiday and Japan's Golden Week, driving arrivals to 996,000, up 29% from the corresponding period last year, according to the Tourism Authority of Thailand (TAT).

Nestlé expands pet food output

Nestlé (Thai), a leading consumer goods manufacturer and marketer, has invested 6 billion baht in expanding its manufacturing facilities in response to the growing demand for pet care products.

Ministry eyes ongoing use of Oil Fuel Fund

The Finance Ministry has recommended using the Oil Fuel Fund to sustain the subsidy for retail diesel prices, noting the fund has sufficient capacity to support the government's diesel subsidy programme.

Senate passes bill forcing TikTok's parent company to sell or face ban, sends to Biden for signature

The Senate has passed legislation that would force TikTok’s China-based parent company to sell the social media platform under the threat of a ban, a contentious move by U.S. lawmakers that’s expected to face legal challenges and disrupt the lives of content creators who rely on the ...

Remnants of bird flu virus found in pasteurized milk, FDA says

U.S. health officials say samples of pasteurized milk have tested positive for remnants of the bird flu virus that has infected dairy cows. The Food and Drug Administration stressed Tuesday that the material is inactivated and that the findings “do not represent actual virus that may be a ...

Buzzbike completes funding round after e-bike subscription demand soars sevenfold

Buzzbike has announced the completion of its latest funding round after it saw a sevenfold rise in demand for its e-bike subscription service.

Buildings as batteries? For net zero, we need bright spark ideas like this

Office blocks have an important part to play in our efforts to limit further climate change. How? Keep reading.

‘Walter the Dino’ helps AstraZeneca in Airsupra campaign

The pharmaceutical company tried to paint rivals’ asthma medication as being from the stone age.

New federal rule would bar companies from forcing 'noncompete' agreements on employees

U.S. companies would no longer be able to bar employees from taking jobs with competitors under a rule approved by a federal agency, though the rule is sure to be challenged in court. The Federal Trade Commission voted to ban measures known as noncompete agreements, which bar workers from ...

The head of Mexico's detective service says his country is the 'champion' of fentanyl production

The head of Mexico's detective service has acknowledged the country is “the champion” of fentanyl production, contradicting President Andrés Manuel López Obrador. The president has long denied that fentanyl is produced in Mexico, saying that Mexican cartels only press it into pills or add ...

U.S. bans noncompete agreements for nearly all jobs

The Federal Trade Commission has voted to ban employment agreements that typically prevent workers from leaving their companies for competitors, or starting competing businesses of their own.

General Mills unveils progress with sustainability goals

General Mills has achieved several sustainability-related milestones such as surpassing the halfway mark to shifting one mill -More- 

ICE launches EU carbon allowance mini futures

Intercontinental Exchange has launched its first small-size EU carbon allowance futures contracts, sized at 100 tons per cont -More- 

Markets price in 20% chance of Fed hike in next year

Options markets are pricing in a 1-in-5 chance the Federal Reserve will increase interest rates during the next 12 months, up -More- 

Investors seek to capitalize on the latest bond sell-off

Selling in the US bond market is prompting some investors to lock in higher yields before Federal Reserve interest rate cuts. -More- 

Why employers should prioritize new health options

Employers that focus on only a few health and wellness options during open enrollment will save money, reduce confusion and s -More- 

You can't get away from yourself by moving from one place to another.

Ernest Hemingway, writer, journalist, Nobel Prize for Literature recipient

Samsung Electronics America hires Katie Stratakis as US head of corporate comms

Stratakis previously spent 10 years at Edelman, most recently as an EVP working across Unilever’s family of brands.

Tesla to 'accelerate' release of new models as revenues find reverse gear

Tesla's quarterly revenue has dropped for the first time in almost four years, according to financial result filings, demonstrating why the electric carmaker is cutting prices further along with its cost base.

ASX to rise ahead of inflation data as Big Tech boosts Wall Street; Tesla jumps

The Australian sharemarket is expected to extend its gains this morning as investors await the release of the latest inflation figures to guide their bets on the Reserve Bank’s next interest rate moves. 

Players are pushing back against free video games that rely on in-game purchases

In 2012, a studio had a game with no publishers. So it tried something new. Now, many studios use the "live service model." Rather than costing money upfront, games are free with "in-game purchases."

Mortgage costs rise as banks confirm higher rates

The increases come after forecasts for when the Bank of England will cut interest rates are pushed back.

Montana minor league baseball team in dispute with National Park Service over arrowhead logo

A minor league baseball team in Montana is calling out the U.S. Department of Interior for “unwarranted and relentless” trademark claims in a battle over the use of an arrowhead logo. The Glacier Range Riders in Kalispell, Montana, are members of a Major League Baseball partner league. The ...

Digital ad spending on the increase

Intense competition between local and niche brands against larger players on e-commerce and the rise of affiliate marketing are driving ad spending on digital channels, says Media Intelligence Group.

Oberweis Dairy says it found two potential buyers following Chapter 11 bankruptcy

Our helpful advice to the Bank’s ratesetters: please, stop with the speeches

At the Bank of England, it is now de rigeur for the nine members of the monetary policy committee to contradict each other on the speech circuit.

SEC Lawyers Resign After Censure for Abuse of Power

The SEC's failed case against Digital Licensing Inc., a crypto platform known as DEBT Box, is continuing to make waves. Michael Welsh and Joseph Watkins, the SEC’s lead trial attorney and the agency’s lead investigative attorney on the case, stepped down this month after SEC officials told ...

Reckitt Benckiser: Nutrition arm bruised amid baby formula litigation case

Like-for-like sales at its nutrition arm fell by 9.9 per cent to £591m, which more than offset growth of 7.1 per cent at its hygiene arm and one per cent at its health arm.

Harvey Nichols: Customers returning to luxury department store chain helps sales pass £200m and slash losses

More customers choosing to shop at Harvey Nichols helped sales pass £200m for the first time since the pandemic, according to newly-filed accounts.

Chaos, paranoia and overreaction: Robbie Cooke’s tortured Star turn

Former CEO Robbie Cooke thought he had all the experience needed to rescue Star Entertainment, but his career gamble has led to a spectacular bust.

Gov't estimates Jan 1 quake cut Japan growth by ¥115 bil

The government on Tuesday estimated that a deadly earthquake that hit central Japan on New Year's Day had a negative economic impact of up to 115.0 billion yen…

Mukesh Ambani’s Reliance looks to disrupt dominance of MNCs in consumer electronics, home appliances; wants to replicate JioPhone success

Reliance Industries Ltd (RIL) plans to disrupt the dominance of multinationals in the local consumer electronics and home appliances market with the introduction of its new brand 'Wyzr'. The company aims to establish its own production plants in the future and expand the product line to include ...

Knitwear label John Smedley wants to bring manufacturing home

By opening up its factory to third parties, the British heritage brand hopes to encourage domestic production

German spycatchers raise game against China and Russia

Recent arrests only ‘tip of the iceberg’, with hundreds more operatives believed to be ‘up to mischief’ in Germany

Hackers use developing countries as testing ground for new ransomware attacks

Cyber attackers experiment in Africa, Asia and South America before targeting businesses in the west

Lloyds profits fall as interest rate benefits wane

Competition in savings and mortgage markets and rate cut expectations weigh on margins

Olympian Kristi Yamaguchi is 'tickled pink' to inspire a Barbie doll

Like many little girls, a young Kristi Yamaguchi loved playing with Barbie. So, it’s surreal for the decorated Olympian figure skater to now be a Barbie girl herself. Mattel announced Wednesday that there will be a Yamaguchi doll as part of Barbie's “Inspiring Women Series.” Yamaguchi was ...

FirstFT: US Senate passes $95bn bill including Ukraine security aid

Also in today’s newsletter, UK water companies’ data shortage and Mandela legacy disaffection

Post Office boss obsessed with pay says ex-HR chief

Nick Read repeatedly made threats to resign over the issue, former Post Office HR chief claims.

Global share buybacks drop despite dividend spike

Global share buybacks dipped by 14 per cent last year to $1.1 trillion (£880bn) despite record dividend issuance from global companies.

M&S pension scheme faces hefty losses as FCA probes Home REIT sister fund

The M&S pension scheme is facing huge potential losses after pumping cash into a Home REIT sister fund that is now under investigation by the Financial Conduct Authority (FCA), City A.M. can reveal.

News24 Business | Should your party save you from floods? Voters think so

Last week, the south coast of KwaZulu-Natal was mopping up damage after being battered by heavy, unexpected rainfall over the weekend. How seriously should your political party take such issues? Here’s what voters think.

Inside the past, present and future of stadium design with Populous

One of the cherished memories for any sports fan is that intake of breath from sheer disbelief when you first climb the concrete steps from the bowels of a stadium to glimpse the scale of the arena which a team you’re about to both fall in love with and despise for a lifetime calls home. [...]

Sadiq Khan is right, every child in London deserves a free school meal

Universal free school meals are fairer, better for the economy and good for children’s educational outcomes, says Joanne McCartney Elections and manifestos are about priorities and Sadiq Khan has decided that feeding all state primary school children and supporting families through the ...

FTSE 100 today: London markets set to shine green, riding global upward momentum

Asian markets followed Wall Street's upward trend, with oil and gold prices trading nearly flat as tensions in the Middle East eased. Tesla's stock soared 13 per cent after plans to fast-track a 'more affordable' model release. Attention now shifts to the upcoming earnings reports from Meta, ...

Long Songkran generated B140bn in tourism income

The three weeks of this year’s Songkran festival generated about 140 billion baht in tourism income, with 1.9 million foreign tourists visiting the country during the celebration, according to the Tourism and Sports Ministry.

News24 Business | SA renewable energy company hires Goldman Sachs as advisor, mulls possible sale

Red Rocket, a South African independent power provider, hired Goldman Sachs Group to advise on the next steps for the closely held business — including a possible sale.

Applying for Europe travel visa? No immediate benefit of new Schengen visa rules likely for Indians; long appointment wait times continue

Long wait for European visa continues: The Schengen visa, which is an entry permit valid for 29 European countries, including France, Germany, Spain, and Italy, must be obtained from the country that serves as the port of entry.

Serica Energy chief: ‘High commodity price windfall long gone’

Serica Energy today announced its first share buyback programme, totalling £15m.

Iranian President Ebrahim Raisi to inaugurate Sri Lankan hydropower and irrigation project

Iranian President Ebrahim Raisi has arrived in Sri Lanka to inaugurate a hydropower and irrigation project that was long delayed due to international sanctions on his government and other issues. The project, valued at $514 million, was started in 2010 by an Iranian engineering group and Iran ...

USPS commits to rerouting Reno-area mail despite bipartisan pushback and mail ballot concerns

The USPS announced on Tuesday it will continue with its plan to reroute Reno-area mail processing to Sacramento, a move that drew bipartisan ire from Nevada lawmakers while raising questions about the rate at which mail ballots can be processed in a populous part of a crucial swing state. ...

Fortescue takes ‘milestone step towards green shipping’ amid iron ore hit

Iron ore shipments of 43.3 million tonnes were six per cent lower than previous corresponding quarter because of the ore derailment in late December and weather disruptions.

Elon Musk-led Tesla not coming to India anytime soon? Shift to low-cost cars puts India plant plans into limbo: Report

Tesla announced plans to increase production by 50% from 2023 before investing in new manufacturing lines, focusing on building more affordable vehicles using existing factories. The decision is well received by investors despite missing financial targets.

How a Monaco hedge fund boss got tied up with an indebted English town

Lee Robinson’s advice was ‘like having Lionel Messi on your team’. Now his relationship with Warrington is under scrutiny

US Senate approves potential TikTok ban

The app's owner, ByteDance, has nine months to sell its stake or face being blocked in the US.

Most Dating Apps May Share Or Sell Your Personal Data For Advertising: Report

The developer of the Firefox Internet browser Mozilla examined 25 apps and labelled 22 of them as ‘Privacy Not Included’ -- the lowest rating in its parlance.

Have UK asset managers lost their way?

The industry has not had much to celebrate of late but some things are looking up

Keeping rate steady creates policy optionality - central bank

Thailand's current policy interest rate settings were robust and can handle future risks to the economy, the central bank said on Wednesday, amid continued pressure from the government to lower borrowing costs and help jumpstart sluggish growth.

Dart aims for high-grade Victorian gold at Growlers Hill

Dart Mining has launched into its first drill campaign searching for high-grade gold at its promising Rushworth project, about 160km north of Melbourne.

Business confidence surges but recovery remains ‘brittle’, survey suggests

The UK economy has recorded growth in both January and February, making it overwhelmingly likely that last year's shallow recession is already over.

Proxy battle fails to erupt as investors wave through FTSE 350 payouts

The battle over paypackets for London’s top bosses failed to materialise in the opening months of the year as investors snubbed proxy firms and waved through bigger salaries for executives, new data suggests.

‘Massive opportunity’ for UK firms as digital services could save public 75,000 years

Digitising the UK’s government services could save Brits a collective 75,000 years of lost time annually and represents a “massive opportunity” for firms, new data has revealed.

Revolut to boost staff by 40 per cent this year amid rapid expansion

Revolut expects to grow its global headcount by around 40 per cent in 2024 as the fintech pushes for rapid expansion and bucks a recent trend of layoffs among major financial and tech firms.

Even Conservatives admit that cuts to council funding have gone too far

With a quarter of Conservative councillors admitting their local authority is struggling to provide the basics, change is clearly needed.

The Notebook: Bloomberg chair Constantin Cotzias on how the next mayor can keep the City thriving

Bloomberg London chair Constantin Cotzias takes the Notebook pen to talk about what the City needs from the next mayor.

RBI Lists 6 Factors Powering India’s Take-off To Become World’s 3rd Largest Economy

According to the RBI bulletin, the “tailwinds likely to power India’s take-off” are as follows:

Now, Indian Railways to offer affordable meals for General Class Coach passengers; check details

Indian Railways is introducing budget-friendly meal service for passengers in General Class Coaches to accommodate summer travel surge. Over 150 counters are now operational at stations, with plans for further expansion.

Despite its problems, Thames Water still aims to pay £2bn in dividends over the next decade

Thames Water has said it does not pay dividends to shareholders, but pays internal sums to its parent company Kemble Water Holdings

Toxic Tiktok trends: Weighing in on dangerous viral diet misinformation

Of those who are influenced by nutrition and health trends on Tiktok, 64 per cent report that they adopt at least one of these trends a few times a week.

TikTok ban in US moves a step closer after Senate passes bill to force parent company to sell platform

The possibility of a ban on TikTok in the US has moved a step closer after the Senate agreed a landmark bill to force its China-based parent company into selling the app.

Biggest climate revolt rocks Woodside as investors turn up heat on emissions

Australia’s largest oil and gas company has been hit with an unprecedented investor uprising demanding greater action on climate change.

Heathrow urges Jeremy Hunt to rethink ‘anti-growth’ tourist tax

Heathrow airport bosses have urged the Chancellor to rethink the “anti-growth” tourist tax to boost Britain’s economy after the winter recession. ]]>

Heathrow Airport hits historic footfall but urges UK to ‘rethink anti-growth policies’ like tourist tax

The group has swung from a £60m loss during the same period last year to £83m profit in 2024.

Nikkei leads Asian gains following Wall Street rally

Asian shares rose on Wednesday, led by an 2% gain in Japan’s Nikkei 225 after U.S. stocks rallied for a second straight day Tuesday, blunting the blow from…

When M&A goes wrong

Examining how the sale of a California supermarket to a private equity firm turned rotten

Stock market today: BSE Sensex surges 200 points; Nifty50 above 22,400 as bulls charge

Stock market today: BSE Sensex and Nifty50, the Indian equity benchmark indices, opened in green on Wednesday. BSE Sensex surged 200 points to briefly move above 74,000 and Nifty50 was above 22,400.

US banning TikTok? Your key questions answered

After years of attempts to ban the Chinese-owned app, including by former President Donald Trump, a measure to outlaw the popular video-sharing app has won congressional approval and is on its way to President Biden for his signature. The measure gives Beijing-based parent company ByteDance ...

New Jersey is motivating telecommuters to appeal their New York tax bills. Connecticut may be next

New Jersey is incentivizing taxpayers who work from home for New York based employers to sue New York in court for taxing their wages. Connecticut is now considering it as well. There's hundreds of millions of dollars on the line for both states. New Jersey Gov. Phil Murphy last year signed ...

The Star’s ex-CEO defends ‘controversial’ conduct before second inquiry

The Star’s former boss Robbie Cooke has defended his tenure at the helm of the struggling casino giant as an inquiry weighs its future.

Consumer group names TSB, Co-op Bank and Monzo as worst major banks for mobile app security

The group reviewed the apps and websites of Britain's 13 largest current account providers between January and February, with assistance from computer security experts.

Cathie Wood on losing $14bn, Trump and where the UK has an edge over the US

Cathie Wood has an answer to those accusations that her investment firm lost billions of her investors’ money investing in tech stocks.

Hipgnosis bidding war shows these corporate jukeboxes are valuable after all

The bidding war between Blackstone and Concord for Hipgnosis shows that the music asset class has not lost its allure, Jess Jones writes

Best breakfast in London: From The Ned to The Wolseley

They say it’s the most important meal of the day, so Alex Dalzell got up at the crack of dawn to hunt for the best breakfast in London

Reduced notice periods for renters are an open door for party flats

Renters need more rights, but scrapping minimum tenancy terms would leave landlords unable to stop their properties being used for holiday lets, party flats or worse

Have we passed peak electric car?

Electric cars have not become better or cheaper fast enough, and without rapid improvements the market will run out of road, says Paul Ormerod This week I got rid of my electric car.  As a car, it was a pleasure to drive.  I also enjoyed the fact that it disconcerted at least some of my [...]

Tesla’s stock skyrockets 13 per cent after announcing speedier launch of ‘more affordable’ models

Tesla's stock soared by over 13 per cent in after-hours trading, marking a significant rebound from its lowest point in 15 months.

Central bank says it has taken action on excessive baht moves

The Bank of Thailand said on Wednesday it had taken action on excessive movement of the baht currency.

Jet2 gets summer-ready with new planes and profit before tax up a third

Profit before tax was 33 per cent up on the previous year and in line with expectations, while Jet2 added that its balance sheet was "very strong" with total cash sitting at £3.2bn.

Rodolphe Saadé, shipping boss who sailed into France’s business elite

Head of CMA CGM has been on a €35bn deal spree and followed fellow billionaires buying up media assets

Warpaint London expands into Superdrug and Boots as revenue leaps 40 per cent

Warpaint cosmetics has reported a 40 per cent rise in revenue for the year ended 31st December, helped by the launch of its products in New Look and Superdrug stores. 

Ofcom warns broadcasters over election bias

UK media regulator finds need to strengthen rules for TV channels featuring politicians as presenters

Bay Area tech startup Ghost Autonomy shuts down, lays off 100 workers

The Mountain View-based company is shutting down after raising $220 million.

Abrdn records rebound in flows as boss says cost-cutting is ‘on track’

Money manager Abrdn said its cost-cutting programme was “on track” today as its total funds under management ticked up in the first three months of the year ann the flow of cash into the firm rebounded.

Lloyds profits plunge following record year

Profits have plunged at Lloyds Banking Group in the wake of its record results last year.

Agilitas sports acquires exclusive license of Italian brand Lotto for India & other markets

Agilitas Sports secures Lotto Brand License from WHP Global for India, Australia, and soon South Africa. Exclusive rights for design, manufacture, and distribution of Lotto products, with a focus on retail partnerships and nurturing grassroots talent.

News24 Business | R42m in cash seized from Markus Jooste's rumoured lover just days before deadline

The SA Reserve Bank has seized R42.1 million in cash and a R18 million property from Markus Jooste's rumoured former romantic partner, Berdine Odendaal - just days before a deadline to confiscate her assets was set to expire.

EPFO Interest Rate For FY 2023-24: When Will It Be Credited? Check What EPFO Has Said To Member's Response

EPFO's decision to hike PF interest rate for the FY 23-34 fiscal has several members waiting for the amount to be credited into their passbook.

US seeks to jail Binance founder

NEW YORK - Changpeng Zhao, the founder of Binance, the world’s largest cryptocurrency exchange, should serve three years in prison after pleading guilty to violating laws against money laundering, US prosecutors said on Tuesday.

Israeli economy moves towards normality despite the war

The Israeli economy suffered a major contraction following the October 7 attacks and subsequent war. However, it is beginning to show signs of recovery even though the fighting goes on.

Stock market today: Asian shares track Wall Streets rally, led by a 2.4% jump in Tokyo

Asian shares have tracked Wall Street's rally, led by a 2.4% advance for Tokyo's benchmark Nikkei 225 index. U.S. futures rose while oil prices also edged higher. Technology-related shares led the regional climb. On Tuesday, the S&P 500 jumped 1.2% and the Dow Jones Industrial Average climbed ...

Why JPMorgan CEO believes PM Narendra Modi is doing an ‘unbelievable job’

JPMorgan CEO Jamie Dimon has lauded PM Narendra Modi, calling him tough and crediting him for doing a difficult job. "There are examples of people who have just turned these things around and you know, we need a little bit more of that here," he said.

Congress Passed a Bill That Could Ban TikTok. Now Comes the Hard Part.

After President Biden signs the bill to force a sale of the video app or ban it, the legislation will face court challenges, a shortage of qualified buyers and Beijing’s hostility.

Blood-soaked horses on loose through central London

Dramatic social media footage has shown the terrifying moment horses ran through the streets of the capital this morning, with one apparently soaked in blood. The Metropolitan Police issued a statement through its Westminster account, saying: “We are aware of a number of horses that are ...

Filtronic shares soar 52 per cent after landing Spacex deal and raising guidance

Shares in microwave technology firm Filtronics soared as much as 52 per cent on Wednesday morning after it unveiled a new long-term deal with SpaceX's Starlink platform that could make Elon Musk's company a major shareholder.

Cosworth hails record revenue at former Formula One engine suppler

Former F1 engine supplier Cosworth achieved a record revenue of £100m during 2023 "despite challenging market and supply chain conditions".

Spotify turns up volume to make record profits

The music streaming service reports record profits of over €1bn (£860m) after laying off 1500 staff.

Why Goyder survived even though his climate plan was panned

For large investors such as pension and superannuation funds, a vote against what climate activists and experts and some shareholders believe is a vague and feeble plan to reduce emissions in line with the Paris Agreement is a no-brainer.

Wanted: An Executive to Repair Boeing

The plane maker, which is searching for a new chief executive, is likely to consider a small number of people, including several former Boeing executives.

'The Indicator from Planet Money': How video games became more accessible

The team at The Indicator from Planet Money explores the shifting status quo on accessibility in video games.

Gold prices drop by Rs 2,900 in just 10 days as Middle East tensions ease: What's next for investors?

Gold prices fell to Rs 71,065 from Rs 73,958 due to reduced Middle East concerns. MCX June gold futures rose to Rs 71,065, with May silver futures at Rs 80,850. Sen highlighted Akshaya Tritiya and geopolitical tensions.

US regulator accepts GSK’s application to expand treatment of cancer drug

The treatment, Jemperli, will now be classed as being able to help all adult patients with primary advanced or recurrent endometrial cancer. It is used alongside chemotherapy.

Pret A Manger names new chair as it sets sights on international expansion

Pret A Manger has named its new chairman and announced the return of one of its co-founder as it shakes up its board amid a period of international growth. 

Muji owed up to £85m ahead of being rescued out of administration

The European arm of Japanese retailer Muji collapsed into administration owing up to £85m before a rescue deal was agreed, it has been revealed.

PZ Cussons: Shares jump after company announces restructuring

Shares in PZ Cussons rose over five per cent in early trade after it announced plans to offload its fake tan brand St Tropez and review its operations in Africa. 

Meta’s A.I. Assistant Is Fun to Use, but It Can’t Be Trusted

Despite Mark Zuckerberg’s hope for the chatbot to be the smartest, it struggles with facts, numbers and web search.

The winner of a John Deere competition will help launch TikTok channel

The venerable agriculture equipment company has launched a campaign to find the next Chief Tractor Officer, whose main job will be to create social media content to reach younger consumers.

RBI bars Kotak Mahindra Bank from onboarding fresh customers via online, mobile banking; asks it to stop issuing fresh credit cards

The Reserve Bank of India (RBI) has directed Kotak Mahindra Bank to halt the issuance of new credit cards and onboarding of customers through online and mobile banking channels. This directive comes as a result of regulatory actions concerning compliance and risk management at the bank. ...

China’s search for an answer to ChatGPT is just beginning

At depressed valuations, SenseTime offers a low-risk bet on a potential winner

US regulator seeks $5bn penalty against Do Kwon and Terraform Labs

Collapsed crypto firm and co-founder were found liable for fraud

'60% hotel owners in the US of Indian origin; we will grow rapidly here': IHG CEO Elie Maalouf

IHG Hotels & Resorts CEO Elie Maalouf is optimistic about the company's future in India, aiming to surpass its presence in China. With 46 hotels already in India and 49 more set to open in the next three years, IHG is expanding across brands like Six Senses, InterContinental Hotels, Crowne ...

US consumer finance watchdog raises alarm over credit card megadeals

CFPB boss warns over competition and financial stability as Capital One and Discover pursue $35bn merger

Heathrow vows ‘robust’ plan as it faces record-breaking passenger numbers and strikes

Surging demand comes amid biggest shake-up of airport’s ownership since privatisation in 1990s

Tesla profits cut in half as demand falls

The EV maker brings forward launch plans for new models as profits drop by more than half.

Tortilla Mexican Grill to ‘double down’ on franchising as revenue leaps

Tortilla Mexican Grill said it will “double down” on franchising to help capitalise on growth opportunities in both the UK and internationally.

Central bank intervenes to steady baht

The Bank of Thailand (BoT) says it has intervened in currency markets at times to ease any excessive moves in the baht, adding that the current policy rate is robust and conducive to economic recovery.

A tale of two havens

The substantial outperformance of US equities versus US Treasuries over the first quarter of 2024 has left many multi-asset managers and investors asking: what’s next?

‘Inconsistency in data’: Why India has objected to ILO report that claims 83% unemployed are youth

India has raised concerns about data sets and misinterpretation of youth employment data in the recent ILO report. Issues highlighted include omission of international mobility and gig workers' data.

Heineken beer sales beat expectations

Brewer posts first quarterly increase in sales volumes in a year after higher prices hit demand in 2023

Schroders launches search for successor to chief Peter Harrison

UK’s largest asset manager has hired headhunters to sound out potential candidates

News24 Business | TAKE A LOOK | Mini Makros to replace Game stores in four malls, aggressive rollout may follow

In a sea-change for Walmart-owned Massmart’s strategy, the retailer is testing small-format Makro stores in a pilot project at four sites in popular malls across SA.

German retirees will get an inflation-busting pension increase this year

Germany’s Cabinet has approved a 4.57% rise in retirees’ pensionsfrom this summer, an increase that is well above the current inflation rate. Rises in German pensions are linked largely to wage developments. Although Germany’s inflation rate has subsided over the past year, the outcome ...

AirAsia chief puts off retirement

KUALA LUMPUR - The budget airline tycoon Tony Fernandes says he has has put aside retirement plans and signed a new five-year contract to continue as chief executive of Capital A, the holding company of AirAsia.

Government Pension Fund expects to shift focus to gold, oil to mitigate risk

The Government Pension Fund (GPF) is reducing investments in assets that may be affected by war and increasing investments in gold and oil to mitigate risk.

Lloyd’s insurance vehicle Inigo surpasses £885m in gross written premium

The specialist insurer Inigo has surpassed $1bn in gross written premium as well as reporting skyrocketing results for its profit before tax

Gold haul down but silver up for Fresnillo’s start to 2024

Fresnillo's gold production has taken a significant hit, with year-on-year first quarter production down 18.6 per cent

Premier League toasts £40m deal with new beer partner Guinness

English football’s top flight is toasting a £40m sponsorship deal with Guinness after the Diageo-owned brand saw off competition from Heineken.

Morning news brief

Former President Trump waits to hear if he violated a gag order. Tesla announces profits dropped by 55%. The Justice Department will pay $138.7 million over FBI failures in Larry Nassar case.

Digital wallet aims for maximum impact, says finance official

The 500-billion-baht digital wallet scheme aims to reach the wider population and boost the overall economy through stimulus, a Ministry of Finance official said on Wednesday, responding to central bank recommendations that it be targeted towards the poor.

Rs 15,000 crore 4G deal: TCS setting up four large BSNL data centres in ‘most complex deployment’

N Ganapathy Subramaniam, the Chief Operating Officer of Tata Consultancy Services (TCS), has announced that the company is setting up sizable data centers in all four regions of the country. This initiative is being undertaken as part of TCS's Rs 15,000-crore contract with Bharat Sanchar Nigam ...

Transportation Department cracks down on airline 'junk fees'

NPR's Leila Fadel talks with Transportation Secretary Pete Buttigieg about airlines and consumer air travel concerns.

UK ‘name and shame’ plans take regulatory transparency too far

The Financial Conduct Authority already has deterrence tools at its disposal

Biden administration is announcing plans for up to 12 lease sales for offshore wind energy

The Biden administration is preparing to announce plans for a new five-year schedule to lease federal offshore tracts for wind energy production. The plan was to be announced Wednesday in New Orleans by Interior Secretary Deb Haaland. It calls for up to a dozen offshore energy lease sales ...

The Biden administration is tweaking rules on airline fees and refunds, saying it'll help consumers

The Biden administration is setting new rules on airline fees and refunds. The Transportation Department said Wednesday that the final rules will spell out exactly when consumers are owed a refund for a delayed flight. That used to be up to the airlines. Now the government says it'll be for ...

London’s reign as most desirable city for work enters tenth year in boost for Square Mile

London has held on to its crown as the world's most desirable city for work, according to a major study, in a boost for the Square Mile's reputation as a global financial hub.

Taylor Swift, The Tortured Poets Department review: Cathartic, but lacks a climax

Have we reached Taylor Swift fatigue? Don’t be silly. But the middling response to her latest album suggests a craving for more curation.

Matches racked up debts of over £200m as Mike Ashley’s Frasers Group failed to turnaround luxury fashion brand

Fashion brand Matches owed more than £200m as it was put into administration by Mike Ashley's Frasers Group , it has been revealed.

Angle agrees deal with Astrazeneca for tech to kill cancer cells

This is expected to be driven by an increase in the use of combination therapy for the treatment of drug-resistant cancers and the need for novel targeted medicines for cancer treatment. 

Gold supports Hochschild Mining production outlook as dividend uncertainty continues

The firm's yellow metal production hit 53.7 thousand ounces (koz) through the first three months of the year.

What’s next for TikTok after US Congress approves ban

Video app vows legal battle to prevent effort to separate it from Chinese parent

The AA: Rising insurance premiums help revenue surge but breakdown troubles see profits slashed

Rising insurance premiums helped revenue at The AA surge to almost £1.3bn but a slowdown in its breakdown service saw profits slashed by more than 40 per cent.

Finance Ministry hits back at digital wallet criticism

The Ministry of Finance has reiterated that the government’s flagship digital wallet scheme is not only intended to offer economic relief to vulnerable groups, but also aims to stimulate the economy.

Paytm progresses with UPI migration with banking partners, focuses on UPI Lite and Rupay Credit Card

IndiGo announces in-flight entertainment on Delhi-Goa route for the first time; check features, trial details

IndiGo's in-flight entertainment trial on the Delhi-Goa route aims to enhance the passenger experience. The airline plans full implementation if successful, with a focus on improving air travel accessibility and infrastructure expansion.

Economic hurdles of EU expansion into Eastern Europe

Russia's invasion of Ukraine has pushed enlargement back on the European Union's agenda. But how much would taking on new members like Ukraine, Moldova and Georgia strain the bloc's budget?

News24 Business | PHOTOS | BHI fraud-accused Craig Warriner in court as victims demand justice

Craig Warriner, the Johannesburg investment manager behind the scandal-ridden BHI Trust, may be looking to negotiate a plea agreement with the state.

Fossil fuel generation of UK electricity hits all-time low

Energy think tank Carbon Tracker today said that on Monday, April 15th, just 2.4 per cent of UK electricity came from fossil fuel sources.

Owner of The Sun hits ITV with legal action over footage of Princess of Wales

Broadcaster ITV and its production company ITN have been hit with legal action by the publisher of The Sun newspaper

KPMG hires ex-prisoners as part of Gov strategy to tackle £18bn reoffending cost

KPMG has become the first white collar British business to employ former prisoners as part of a new pilot programme by the Government

India's first geothermal project: ONGC plans June drilling; project may open source of emission-free electricity in Ladakh

Oil and Natural Gas Corp (ONGC) is gearing up to commence a new drilling initiative in June for India's first geothermal venture in Ladakh. The project aims to establish a sustainable source for emission-free electricity, space heating, and irrigation in challenging landscapes.

Boeing posts £285m loss as 737 Max production dips amid fallout from Alaska disaster

Boeing reported a net loss of $355m (£285m) in the first quarter as production of its 737 Max jets decreased.

‘Thunder Run’: Behind Lawmakers’ Secretive Push to Pass the TikTok Bill

A tiny group of lawmakers huddled in private about a year ago, aiming to keep the discussions away from TikTok lobbyists while bulletproofing a bill that could ban the app.

Cocaine: Drug kingpin found guilty of smuggling £132m-worth into Britain disguised as ink

Jonathan Strogylos was found guilty at Isleworth Crown Court this week after being identified as the ringleader of a large-scale illegal operation.

Germany raises forecasts on boost to outlook for industry and consumers

Expected 0.3% expansion for 2024 comes as energy prices and inflation continue to fall from record highs

Success Story: Meet India's Wealthiest Woman, Daughter of a Billionaire Who Runs a Company Worth Rs 28,773 Crore

Her company's value soaring to an impressive 28,773 crore demonstrates her business acumen and leadership in the corporate world. 

Cisco Systems joins Microsoft, IBM in Vatican pledge to ensure ethical use and development of AI

ROME (AP) — Tech giant Cisco Systems on Wednesday joined Microsoft and IBM in signing onto a Vatican-sponsored pledge to ensure artificial intelligence is developed and used ethically and to benefit the common good. Cisco Systems chief executive Chuck Robbins signed the document, known ...

The Latest | Germany will resume working with UN relief agency for Palestinians after a review

Germany says that it plans to follow several other countries in resuming cooperation with the U.N. relief agency for Palestinians in Gaza after the publication of an independent review of its neutrality. The Israeli military meanwhile said Wednesday that it was redeploying two reserve brigades ...

Tesla, Ryanair and Lloyds

On today's episode, Ian King reveals Tesla's plans to introduce new vehicle models before the second half of next year as Elon Musk's company reports a dip in sales and net profits.

Bird Flu Outbreak in Cattle May Have Begun Months Earlier Than Thought

A single spillover, from a bird to a cow, led to the infections, a review of genetic data has found.

Israeli economy moves toward normality despite the war

The Israeli economy suffered a major contraction following the October 7 attacks and subsequent war. However, it is beginning to show signs of recovery.

A blast near a ship off Yemen may mark a new attack by Houthi rebels after a recent lull

A ship near the strategic Bab el-Mandeb Strait has seen an explosion in the distance, marking what may be a new attack by Yemen’s Houthi rebels through the crucial waterway for international trade. The explosion Wednesday, reported by the British military’s United Kingdom Maritime Trade ...

Calls for reproposal of Basel III endgame grow

Criticism of the Basel III endgame proposal is mounting, with Federal Reserve Governor Michelle Bowman calling for a repropos -More- 

The EU will probe whether China is unfairly denying companies access to its medical devices market

The European Union says it will investigate whether China is using unfair methods to deprive companies in Europe of access to its market for medical devices. The European Commission probe is the latest attempt to help European companies gain equal access to China’s vast markets. The ...

Labor Dept. finalizes fiduciary rule

The Labor Department has finalized its 473-page fiduciary rule, which has a Sept.  -More- 

Regulator launches three investigations into Microsoft and Amazon

The CMA is worried that big tech partnerships could give the likes of Microsoft and Amazon too much market power and harm competition.

Lift auto-enrolment pension contribution to 12 per cent for £10bn boost, report argues

Auto pension enrolment was one of the key policy wins of the coalition era and essentially made employees automatically pay into their pension pots.

Schroders chief Peter Harrison set to retire next year

The veteran chief of Schroders, Peter Harrison, is set to step down next year after eight years at the helm of the FTSE 100 funds group, the firm announced today.

IAEA team inspects treated radioactive water release from Japan's Fukushima nuclear plant

A team of experts from the U.N. nuclear agency has inspected the tsunami-hit Fukushima Daiichi nuclear power plant for a review of its ongoing discharge of treated radioactive wastewater into the Pacific. A temporary blackout at the plant due to a mishap apparently caused damage to an ...

KPMG cancels foreign graduate job offers after UK tightens visa rules

Big Four firm’s move prompted by government decision to raise salary threshold for skilled worker admission

Boeing burns through $4bn in first quarter after door blowout

Results reflect slowdown of 737 Max production and compensation to customers

PBOC hints of correction if bond rally continues

The People's Bank of China has warned of a reversal in the rally in long-term government bonds, indicating it would correct a -More- 

Ancestry website to catalogue names of Japanese Americans incarcerated during World War II

The names of thousands of people held in Japanese American incarceration camps during World War II will be digitized and made available for free on Ancestry. The genealogy company announced Wednesday it is collaborating with the Irei Project, which has been working to memorialize more than ...

BoE's Pill unconvinced inflation under control

Bank of England Chief Economist Huw Pill has said there is a "reasonable way to go" before he is convinced that inflation is  -More- 

Red card: Former England and Liverpool footballer John Barnes banned as a company director

John Barnes, the former England and Liverpool footballer, has been banned as a company director after his business failed to pay tens of thousands of pounds in tax. 

Robert Kraft’s Fight Against Antisemitism Began Long Before Oct. 7

The New England Patriots owner said this week that he was “no longer comfortable supporting” Columbia University, his alma mater, which has been roiled by protests.

Britain’s competition watchdog killed more deals than the EU’s since 2019

The Competition and Markets Authority has blocked more tie ups than the European Commission every year bar one in the past half a decade.

The Lex Newsletter: Pity the forecasters

Plus, electric vehicles, Embracer, UK asset managers, Prysmian

SIFMA Member Briefing: The final DOL fiduciary rule -- Friday, April 26

SIFMA members are invited to participate in a member-only briefing on the DOL's final fiduciary rule at 11 a.m.  -More- 

SEC engages with firms on US Treasury clearinghouses

The Securities and Exchange Commission is in discussions with firms interested in becoming central clearinghouses for derivat -More- 

PZ Cussons to sell St Tropez brand and review Africa business

Consumer goods group to offload tanning line and explore sale of Africa unit as foreign exchange fluctuations hit profits

Boeing posts a $355 million loss as the plane maker tries to dig out from under its latest crisis

Boeing is reporting a $355 million loss for the first quarter. But the CEO said the results announced Wednesday aren't the most important thing right now for Boeing. That's fixing its manufacturing problems, which have been in the spotlight since a door plug blew out of an Alaska Airlines ...

Pretty Little Thing founders venture into the world of luxury interior design

Adam Kamani and Umar Kamani, the Manchester brothers who founded fast-fashion brand Pretty Little Thing are venturing into the world of luxury interior design. 

Learn a colleague's values without yes-or-no questions

Discovering whether a colleague really values the work they do involves deeper probing than a simple question that elicits on -More- 

The top 4 guitar riffs music store employees hate

When aspiring guitarists want to sound impressive, the riffs they search the web for most often are "Seven Nation Army" by Th -More- 

Prada and Burberry among Matchesfashion creditors owed £36mn

Hundreds of suppliers to luxury ecommerce group likely to receive less than a penny in the pound

News24 Business | Sheriff raids Louis Liebenberg's Cape Town house

A sheriff has swooped on Louis Liebenberg's house in Cape Town to attach assets including chairs and a fridge, just days after the diamond dealer launched his bid for Parliament as an independent candidate.

The silent army that makes Beijing’s daily life possible

Robot deliveries are becoming a common sight but in a world of apps and automation it's hard-pressed gig workers who ease the friction

Do banks like SBI, HDFC, ICICI, PNB charge for NEFT, RTGS? Check branch level transaction charges

RBI waived NEFT charges from Jan 1, 2020, benefiting savings account holders. NEFT allows nationwide payments in batches, while RTGS settles large transactions continuously. SBI, HDFC, ICICI, PNB charge NEFT transactions.

What to Know About the New Rules on Airline Refunds and ‘Junk’ Fees

The Biden administration will require airlines to automatically refund fares when flights are canceled or delayed and to reveal more about extra fees before booking. Here’s what passengers can expect.

Canary in the coal mine? Trust asset value crashes following Gove’s proposed ground rent reforms

The policy would have seen the government reduce annual payments to ‘peppercorn’ rates or almost nothing.

Goldman agrees to sell robo-investing unit to Betterment

Goldman Sachs has agreed to sell Marcus Invest, an automated investment banking service aimed at the mass market, to digital  -More- 

Indonesia hikes rate to arrest rupiah slide

The Indonesian central bank on Wednesday raised its benchmark interest rate to a record high, in what is seen as a one-and-done move to support the rupiah that has hit pandemic-era lows.

Boeing Loses $355 Million in Latest Quarter

The manufacturer has had to slow production of its popular 737 Max planes after a hole blew open on a jet during an Alaska Airlines flight in January.

GSK readies for pivotal ruling in Zantac cases

Judge to decide on admission of evidence as part of litigation that has knocked billions off pharma group’s value

London Underground to face more strikes this week as customer service managers to walk out

The London Underground is set for disruption this Friday and Saturday after customer service managers announced further strike action.

News24 Business | Financial watchdog warns banks not to close accounts on reputational grounds only

FSCA Commissioner Unathi Kamlana says banks should balance the need to prevent illicit financial activity with the moral obligation to ensure access to financial services.

Lok Sabha Election 2024: Rapido Offers Free Rides For Voting In Ghaziabad On April 26; Here's How To Avail Offer

In the second phase of voting in the Lok Sabha election, 89 constituencies across 13 states and Union Territories will go to vote.

Norfolk Southern's earnings offer railroad chance to defend its strategy ahead of board vote

Norfolk Southern's first-quarter earnings report Wednesday gave the railroad the opportunity to publicly defend CEO Alan Shaw's strategy again before investors decide on May 9 whether to back him. Since the railroad already preannounced its disappointing results, there were no surprises. ...

Starbucks and Union Set to Restart Contract Talks After Bitter Standoff

The company and Workers United, which represents more than 10,000 of the chain’s employees, broke off negotiation nearly a year ago.

Everybody loves Charlie!

Robert S. sent in this photo of his beloved Charlie Freckles.

House panel seeks details from DOE on LNG pause, studies

In a letter to Energy Secretary Jennifer Granholm, Republican lawmakers on the House Committee on Science, Space and Technolo -More- 

Beef From Dairy Cows? It Could Be a Lifeline for American Farmers.

Letting milk cows graze longer can produce superior beef — a largely European practice that is now gaining ground in America.

Solar giants seek high US tariffs on Asean panels

Some of the world’s largest solar equipment makers are asking the US government to impose steep tariffs on panels and cells from four Asian countries — Malaysia, Cambodia, Vietnam and Thailand — as they seek to protect billions of dollars in investments in US manufacturing.

The women-only co-working spaces fighting to survive

Women-only co-working spaces are part of the new hybrid working landscape, but they divide opinion.

Solar Companies Seek New U.S. Tariffs on Asian Imports

Firms warn that China uses its neighbors to skirt existing levies, depressing prices and threatening U.S. investments.

Automation, AI may ease US accounting shortage

Companies have been facing a shortage of accountants for years, and the pipeline of skilled workers does not appear to be gro -More- 

Honesty can be the best policy at work

Truth-telling at work can alleviate a lot of problems down the road, such as a deadline that can't possibly be made, but it n -More- 

Setback For Kotak Mahindra Bank, RBI Bars It From Onboarding Customers Online, Issuing Credit Cards

The RBI said it took the action under Section 35A of the Banking Regulation Act, 1949.

Meta shares take $125bn hit as Facebook owner raises spending forecasts

Shares in Meta, the owner of Facebook, WhatsApp and Instagram, have fallen sharply after the company revealed it had raised its cost forecast for the current year.

Meta more than doubles Q1 profit but revenue guidance pulls shares down after-hours

Facebook and Instagram parent company Meta says its first-quarter profit more than doubled, boosted by higher advertising revenue and a 6% increase on the average price of ads on its platforms. But its shares dropped sharply in after-hours trading following lukewarm revenue guidance. Meta ...

Europeans ‘less hard-working’ than Americans, says Norway oil fund boss

Tangen finds US investments more attractive due to weaker regulations and more risk-taking

US crude, gasoline inventories down in latest API data

The American Petroleum Institute has reported that crude oil stockpiles declined by 3.23 million barrels last week, defying a -More- 

New tool estimates inactive wells' methane leak potential

A newly validated tool developed by Pennsylvania State University researchers can predict the methane leakage potential of de -More- 

API Training Course - API 570 & RP 574: Piping Inspection Code and Practices

This course is designed for novice inspectors, engineers and other personnel who are starting, changing or expanding their ca -More- 

India’s central bank bans Kotak Mahindra from signing up digital customers

The RBI is stepping up efforts to crack down on the consumer-finance sector

Quinta do Lago: World-class golf in a five-star setting

Quinta do Lago boasts three courses and is set in Ria Formosa Natural Park.

Republica Havas names Anthony Bianco COO, Marcela Maurer chief brands officer

Bianco will coordinate with other parts of the Havas network, while Maurer will serve as a point person for clients.

Sunak promise to boost UK defence spending raises prospect of cuts

Economists and opposition question how government will lift MoD share of GDP to 2.5% and find extra £75bn

Investors in London-listed medical tech firm continue battle to oust top brass

Investors in a London-listed medical technology firm are continuing their campaign to oust the company’s top brass as its share price languishes. 

Who Stands to Gain from a TikTok Ban

The Senate has finally passed a law that could bar the video-sharing app in the U.S., leaving some tech giants in pole position to profit — or pounce.

How major US stock indexes fared Wednesday, 4/24/2024

U.S. stocks drifted to a mixed finish. The S&P 500 closed little changed Wednesday after a two-day winning streak erased nearly two-thirds of last week’s steep loss. The Dow Jones Industrial Average fell 0.1%, and the Nasdaq composite edged up 0.1%. Tesla jumped after saying the night ...

How US changes to 'noncompete' agreements and overtime pay could affect workers

For millions of American workers, the federal government took two actions this week that could bestow potentially far-reaching benefits. In one move, the Federal Trade Commission voted to ban noncompete agreements, which bar millions of workers from leaving their employers for a specific period ...

Oracle's Larry Ellison says planned Nashville campus will be company's 'world headquarters'

Oracle Corp. CEO Larry Ellison says the business software giant’s planned campus in Nashville, Tennessee, will serve as its world headquarters and place it in a city that's a center of the health care industry. Ellison spoke about Oracle’s plans for its Nashville offices during ...

Haaland out of Brighton match as Man City chase Premier League title

Manchester City striker Erling Haaland will miss tonight’s clash with Brighton and Hove Albion having missed his side’s FA Cup semi-final victory at the weekend. The Norwegian is out of the Premier League tie at the Amex Stadium this evening with a muscle problem. Manager Pep Guardiola ...

Boeing burns through cash as crash victims’ families want it prosecuted

CEO David Calhoun says Boeing is in “a tough moment” as it lost more than half a billion dollars in the first quarter, another sign of the crisis gripping the aircraft manufacturer

Biden campaign will continue to use TikTok despite divest-or-ban law

US president’s campaign has posted on Chinese-owned video app in attempt to appeal to younger voters

Meta predicts higher spending, weaker sales as it pushes into AI

The social media giant increased its spending estimates for the year, once again raising questions about whether its futuristic technological bets will eventually pay off for investors.

Has Rafael Nadal competed in his last French Open before retirement?

Rafael Nadal could miss the French Open this year in what could be his final season on the tennis circuit, the Spaniard has revealed. Nadal has said previously that 2024 would be his last year on the ATP Tour and at the majors, with many expecting the 22-time Grand Slam champion to bow out ...

Former England and Liverpool star banned as company director over unpaid taxes

John Barnes has been banned as a director after his company failed to pay almost £200,000 in tax.

Biden just signed a bill that could ban TikTok. His campaign plans to stay on the app anyway

WASHINGTON (AP) — When President Joe Biden showed off his putting during a campaign stop at a public golf course in Michigan last month, the moment was captured on TikTok. Forced inside by a rainstorm, he competed with 13-year-old Hurley “HJ” Coleman IV to make putts on a practice mat. ...

Kansas' governor vetoed tax cuts again over their costs. Some fellow Democrats backed it

The Democratic governor in Kansas has vetoed a broad package of tax cuts for the second time in three months. Gov. Laura Kelly described the tax plan Wednesday as too expensive despite the bipartisan support it enjoyed in the Republican-controlled Legislature. The cuts in income, sales and ...

Meta shares fall as it predicts higher expenditure on AI

Facebook and Instagram parent steps up investment as Big Tech jockeys for position in the sector

TikTok for sale: Who can buy it and how much will it cost?

The US mandates a sale for TikTok to keep its American operations running. What are the odds of a sale happening, who has the financial clout to buy, and what hurdles come with acquiring such a social media powerhouse?

Southwest Airlines flight attendants ratify a contract that will raise pay about 33% over 4 years

Southwest Airlines flight attendants have ratified a new contract that will boost their pay by about one-third over four years. The Transport Workers Union said Wednesday that Southwest cabin crews voted 81% to 19% in favor of the contract. The union’s board rejected a lower offer last ...

The US is now allowed to seize Russian state assets. How would that work?

The big U.S. aid package for Ukraine and other allies that President Joe Biden signed Wednesday also allows the administration to seize Russian state assets located in the U.S. and use them for the benefit of Kyiv. That could mean another $5 billion in assistance for Ukraine, coming from ...

Barbara Walters forged a path for women in journalism, but not without paying a price

Walters was the first woman to co-anchor a national news show on prime time television. "The path she cut is one that many of us have followed," says biographer Susan Page, author of Rulebreaker.

FDA Approves Antibiotic to Treat Urinary Infections

Pivmecillinam, which has been used in Europe for decades, will become available next year to women 18 and older.

College Protesters Make Divestment From Israel a Rallying Cry

The campaign is likely to have a negligible impact on the companies or Israel, but activists see divestment as a clear and achievable way to force colleges to take action on the issue.

Missouri House backs legal shield for weedkiller maker facing thousands of cancer-related lawsuits

The Missouri House has passed legislation that could protect chemical manufacturer Bayer from some lawsuits alleging a popular weedkiller causes cancer. The legislation comes as Bayer faces tens of thousands of lawsuits claiming it failed to warn people that the key ingredient in Roundup could ...

Meta’s Profits More Than Double, While Spending on A.I. Rises

The owner of Facebook, Instagram and WhatsApp continued to grow, even as it said it would spend billions of dollars more on artificial intelligence.

Billionaire Texas oilman inks deal with Venezuela's state-run oil giant as U.S. sanctions loom

A company started by a Texas billionaire oilman has announced a deal with Venezuela’s state-owned oil company to rehabilitate five aging oil fields. Wednesday's announcement comes days after the Biden administration put a brake on sanctions relief for Venezuela amid concerns about the ...

When will India's first bullet train project between Ahmedabad-Mumbai be completed? NHSRCL answers

Ahmedabad-Mumbai bullet train update: The completion date of the entire 508 km-long bullet train project can be assessed only after all work tenders have been awarded, National High-Speed Rail Corporation Limited (NHSRCL) has said in an RTI reply.

Global recovery more balanced as US growth slows

US private sector activity slowed in April, while surveys in the eurozone, Japan, India and Australia pointed to growth.  -More- 

'We aren't going anywhere' - TikTok vows court fight as new US law threatens to ban it

TikTok has promised a court battle over a new law that threatens to ban it in the US - with the app's boss saying "we aren't going anywhere".

2024 API Pipeline Conference and Expo, May 6-8, Salt Lake City, Utah

Global leaders continue to evolve in their formulas for a successful and just energy evolution.  -More- 

The ‘gender health gap’ shortens lives and costs billions

Neglecting women’s pain affects the entire medical pipeline, from research to diagnosis and treatment

Biden picks up another big union endorsement, this one from building trades workers

The North America’s Building Trades Unions has endorsed President Joe Biden. It adds to Biden's roster of support from organized labor. The Democratic president and union leaders used the endorsement event Wednesday to torch Donald Trump's carefully crafted image as a successful real estate ...

Ford's 1Q net income falls 24% as combustion engine unit sees sales and revenue decline

Ford Motor Co.’s first-quarter net income fell 24% from a year ago as the company’s combustion engine vehicle unit saw revenue and sales decline. The Dearborn, Michigan, automaker said it made $1.33 billion from January through March, compared with $1.76 billion a year earlier. Excluding ...

Tesla driver in Seattle-area crash that killed motorcyclist told police he was using Autopilot

A Tesla that may have been operating on the company’s Autopilot driving system has hit and killed a motorcyclist near Seattle. The incident raises questions about whether a recent recall went far enough to ensure Tesla drivers pay attention to the road. After the crash Friday northeast of the ...

Texas Instruments, Mattel rise; General Dynamics, Teledyne fall, Wednesday, 4/24/2024

Stocks that are trading heavily or have substantial price changes on Wednesday: Texas Instruments, Mattel rise; General Dynamics, Teledyne fall.

BlackRock: Transition investment must hit $4T per year

The world invested $1.8 trillion in the energy transition last year, but that figure needs to hit $4 trillion per year by 203 -More- 

Mountain Valley gas pipeline nears service

The developers of the 303-mile Mountain Valley gas pipeline have asked the Federal Energy Regulatory Commission to authorize  -More- 

Cybersecurity lapses threaten maritime oil, gas ops

Outdated IT and OT infrastructure, inadequate cybersecurity controls and vulnerabilities in critical software are exacerbatin -More- 

FTC moves to prohibit noncompetes for many workers

In a 3-2 vote, the Federal Trade Commission approved a rule prohibiting the use of noncompete provisions for many workers, al -More- 

Kenvue hires Russell Dyer as chief corporate affairs officer

Dyer was previously Mondelez International’s comms head for more than eight years.

Bengaluru Man Loses Rs 5.2 Crore After Clicking WhatsApp Link To Download Stock Market App

The 52-year-old man from Bengaluru's Jayanagar was approached by fraudsters on various modes --Whatsapp group, phone calls prominsing high-return investments opportunity, that led to siphoning off Rs 5.2 crore.

Meta proves AI hype has its limits

Artificial intelligence is a multibillion-dollar project with no clear timeline for revenues

Reopened Nigeria-Niger border promises trade growth

Traders and communities on both sides of the Niger-Nigeria border suffered under ECOWAS sanctions on Niger. Trade has now resumed and a new Chinese-funded railway promises to boost the local economy further.

Telecoms talk sustainability

Telecoms detailed their strategies to increase their sustainability and fight climate change.  -More- 

Outcry led to HMRC's helpline closure U-turn

An unexpected “strength of feeling” led to the U-turn over its helpline closure, HMRC's boss tells MPs.

Respect employees' personal time to prevent problems

Leaders may be missing the mark if they routinely establish unrealistic expectations, frequently contact employees after hour -More- 

IHI rigged data for over 4,000 engines at least since 2003

Japanese leading engine maker IHI Corp said Wednesday a subsidiary has falsified fuel efficiency data for 4,361 engines, mostly for ships, produced at least since 2003 for the…

Labour pledges to fully renationalise rail network

Opposition says it will roll out reforms within first term if it wins UK general election

BHP weighs potential takeover of Anglo American

BHP, the world’s largest miner, is considering buying London-listed Anglo American, people with knowledge of the matter said, in what would rank as one of the year’s biggest deals.

The boom and bust of esports

The origins of competitive gaming are rooted in college campuses going back to the early 1970s. Now a globally popular industry, esports is at the center of many questions about long-term financial viability. Today, we dive deep into the hype surrounding esports and why the luster seems ...

Jefferies boss sells $65mn in stock to buy a customer’s yacht

Purchase shines light on wealth accumulated by longtime chief executive Rich Handler

Airlines count the cost of Boeing’s production slowdown

Higher fares and leaner schedules loom for flyers as 737 Max crisis forces delivery delays

Rising expenses add to hotels' woes

Hotel operators anticipate high expenses from power bills, food prices and labour wages as the low season arrives amid scorching temperatures.

Labour pledges to renationalise most rail services within first term

The party says it offers the "biggest overhaul in a generation" but ministers brand it "pointless".

Gateway Pundit files for bankruptcy after election conspiracy defamation lawsuits

The influential website faced multiple defamation suits over conspiracy theories about 2020 election fraud that it's accused of promoting.

Lloyds hit as banks compete for mortgage customers

The banking group's results showed it had made less money from loans and mortgages compared with last year.

How robots are taking over warehouse work

At Ocado's newest warehouse robotic arms are helping to pack customer orders.

The ambitions of China’s BYD stretch well beyond electric vehicles

The company’s global plans range from solar modules and electric buses, trucks and trains to complex transport systems. But is it trying to do too much?

BoT urges banks to help vulnerable

The Bank of Thailand is allowing commercial banks to adapt their business models to help vulnerable customers, in response to the prime minister's directive urging large local banks to lower lending interest rates for vulnerable groups and small businesses.

Instagram fraudster 'Jay Mazini' has been sentenced for his crypto scheme that preyed on Muslims

The former Instagram influencer known as “Jay Mazini” has been sentenced to seven years in prison after admitting he stole millions of dollars in various investment scams. Prosecutors say the fraudster stole $8 million from online followers and a network of Muslim New Yorkers he targeted ...

Japan’s small EV battery suppliers feel the heat in race for scale

Tokyo urges alliances to stay competitive but companies wary of giving up control

TikTok ban in US: How China may retaliate

The Chinese government, under President Xi Jinping, has maintained a measured response to a series of US trade restrictions during a politically charged election season in the US. This restrained approach has been facilitated by President Biden's implementation of largely symbolic measures, ...

UK imposes sustainable fuel targets on airlines

Move is expected to push up prices as aircraft switch to 10% blend of greener fuels by 2030

Connecticut Senate passes wide-ranging bill to regulate AI. But its fate remains uncertain

The Connecticut Senate has passed one of the first major legislative proposals in the U.S. to reign in bias in artificial intelligence decision-making and protect people from harm. But despite Wednesday's 24-12 vote, it's unclear whether the legislation will ultimately become law. There remains ...

Policymakers set to prepare more AI rules

Policymakers will draw up more new artificial intelligence (AI) rules to prevent the violation of AI ethics and promote AI development through good governance and planned guidelines for generative AI.

Apple is cutting hundreds of workers in SF Bay Area

Apple is cutting hundreds of its employees based in California's Silicon Valley.

McKinsey faces US criminal investigation over its opioids work

McKinsey & Co is under criminal investigation in the United States over allegations that the consulting firm played a key role in fuelling America’s opioid epidemic.

McKinsey Is Under Criminal Investigation for Its Opioid Work

Federal prosecutors are examining the consulting company’s role in helping “turbocharge” the sale of painkillers like OxyContin.

More cows are being tested and tracked for bird flu. Here's what that means

U.S. health and agriculture officials are ramping up testing and tracking of bird flu in dairy cows in an urgent effort to understand and stop the growing outbreak. Officials say the risk to humans remains low. Scientists fear that the virus that's been detected in cattle in several states ...

Is Britain suffering from a ‘sick note culture’?

Rishi Sunak has vowed to get people back to work but data indicates problems with the diagnosis — and proposed solution

What's behind China's gold-buying spree?

For more than a year, China's central bank has been buying up large amounts of gold. The move, along with the wars in Ukraine and Gaza, have helped spike the price of the precious metal to new highs.

The thorny issue of digital wallet funding

The coalition government led by Prime Minister Srettha Thavisin made a significant pivot on its flagship scheme, which aims to hands out 10,000 baht each to 50 million Thais via a digital wallet, shifting from government borrowing, which drew sharp criticism and raised concerns about potential ...

'It must be done': Elon Musk email says Tesla plans to lay off 10% of workforce

The move could reportedly affect as many as 14,000 workers. 

Commerce Ministry touts rice sales to many nations

The Commerce Ministry is promoting government-to-government (G2G) sales of rice to Indonesia, while pledging to move ahead with plans to negotiate a similar sale with China.

Canadian winery launches wine in reused glass bottles

Stratus Vineyards, a sustainable winery in Niagara, Canada, released a new premium wine earlier this week for Earth Day, with -More- 

Right-to-repair legislation could reduce e-waste

Electronic manufacturers like Apple currently make it difficult to repair existing products, forcing consumers to buy new, bu -More- 

ExxonMobil lube sales tipped to see growth of 10% this year

ExxonMobil Marketing (Thailand) expects sales of its Mobil 1 lubricants to grow by 10% this year, maintaining its status as a key operator of finished lubes and chemical marketing in Thailand after Bangchak Corporation took over Esso (Thailand) Plc last year.

Iran's attack on Israel has muted impact on oil markets

The global economy has so far shrugged off the Iranian strike on Israel. Important markets like oil had already priced in a possible attack. Will the calm last?

Hyundai takes top honors for EVs in US News ranking

The US News & World Report named the Hyundai Ioniq 6 as the best electric vehicle and the Hyundai Ioniq 5 as the best electri -More- 

Central bank urges banks to help vulnerable

The Bank of Thailand (BoT) is allowing commercial banks to adapt their business models to help vulnerable customers, in response to the prime minister's directive urging large local banks to lower lending interest rates for vulnerable groups and small businesses.

ECA: EU may fall short of net-zero emissions goal

The European Court of Auditors says the EU is at risk of falling short of its net zero goals for 2050.  -More- 

Tips from startup expert Eric Ries

Founders should understand the importance of putting themselves in rooms where decisions are made, such as pitch meetings, sa -More- 

Generative AI saves employees time at work, survey finds

A global Contentful survey found 37% of employees using generative AI daily save five to 10 hours per week, with users in tec -More- 

BHP’s clever plan for dealing with Anglo’s poison pills

BHP has approached the embattled Anglo American mining house with an all-scrip offer that would see the group’s most troublesome assets spun off.

Create a respectful culture to keep talent on board

Data shows that retaining and engaging employees is paramount for executives, which is good since other research reveals few  -More- 

A startup hopes to use a 1970s discovery to bring a male contraceptive to market

A research lab in Flagstaff, Ariz., is trying to leverage a 1970s discovery into a safe and desirable alternative for men who want to prevent pregnancy.

A lifeline for Canary Wharf

Plus, one UK local council gets wooed by a Monaco hedge fund and Rodolphe Saadé leans into building a media empire

Office demand turns negative in 1st quarter

The office market recorded negative absorption in the first quarter of 2024, ending a consecutive seven-quarter rise from mid-2022, as demand shifted from non-green to green spaces and downsized offices, according to property consultant Knight Frank Thailand.

Can US wind manufacturing get up to speed fast enough?

The US is expected to add 7 gigawatts of new capacity in 2023 and 11GW in 2025, per Wood Mackenzie, and onshore wind componen -More- 

Avoid ‘outright bans’ on flexible contracts and improve workers’ rights, urges think tank

According to the research, three quarters of employers reported using flexible contracts - although for a variety of different reasons.

Hermès sales and China demand defy luxury slowdown

Maker of Birkin bags beats expectations with strong sales of leather goods and jewellery

John Neal: Why Lloyd’s of London ‘had to change’

John Neal has pushed Lloyd's of London through a major modernisation effort since 2018 as the City faces fears over its future

N.F.L. Draft Is Like Super Bowl for City of Detroit

Places that are not usual sites for the league’s marquee game are jumping at the chance to be the host of its three-day draft.

Latest de-peg drama highlights risks of restaking

At its best, Decentralised Finance (DeFi) turns money into composable lego blocks. They can be combined together for different use cases. Players can put other legos on top of each other. The legos have high levels of liquidity, composability and can be used by anyone in a permission-less way. ...

London Stock Exchange owner’s growth meets estimates as it leans into Microsoft data deal

The London Stock Exchange Group (LSEG) has reported first-quarter growth in line with analysts' estimates as it plans to start releasing products from its tie-up with Microsoft in the coming months.

More than just a bowl of noodles, ramen in Japan is an experience and a tourist attraction

Spicy, steaming, slurpy, ramen might be everyone’s favorite Japanese food. In Tokyo, there are lines around the block, and the ramen is often cooked right before your eyes behind dingy counters. Ramen also has become more popular around the world. Retail sales in the U.S. have risen 72% since ...

FirstFT: BHP proposes all-stock takeover of Anglo American

Also in today’s newsletter, Meta’s shares tumble and the Chinese group raided by the EU

Antony Blinken Visits China

Tensions over economic ties are running high, threatening to disrupt a fragile cooperation between the U.S. and China.

Sainsbury's 'winning over shoppers from rivals' as profits rise

Sainsbury's has claimed it is winning over customers from its rivals after reporting higher than expected profits.

Ultraviolette Launches F77 Mach 2 Electric Motorcycle; Check Design, Features And Other Details

The Ultraviolette F77 Mach 2 is powered by a 27kW motor for the standard variant, while the Recon variant boasts a 30kW motor. 

Unilever thanks ‘power brands’ for sales bump as Marmite-maker steams ahead with turnaround plan

Consumer giant Unilever said sales of its most popular brands such as Dove soap helped drive growth in the first quarter, in the businesses first trading update since announcing plans to sell its ice-cream arm. 

Drax trading on track for the year as it awaits Westminster’s carbon capture sign-off

Drax awaits the green light from the government on a bridging mechanism for its carbon capture project

John Barnes banned as company director over taxes

John Barnes Media Ltd failed to pay £190,000 in taxes despite a turnover of over £400,000.

London was voted best place to work – but play matters too 

This time next week, London will be voting for its Mayor. It has not been a vintage campaign but perhaps the negativity apparent across the political spectrum may soon give way to some optimism about the capital’s prospects. A closely watched annual survey pegged London as, again, the best ...

Worst corporate jargon of the week: Mission

Offender: Mission  Every one of us has been an email chain which is borderline unintelligible for the amount of corporate lingo thrown in there. At City A.M., we’re taking a stand and calling out the worst jargon which travels around the City faster than you can drink an overpriced pint. ...

Canary Wharf strikes £550mn financing deal ahead of debt deadlines

Docklands financial estate renegotiates borrowing terms against backdrop of falling office valuations

AI could kill call centres, says Tata Consultancy Services boss

Chatbots will soon take over much of the work of human agents, forecasts chief of Indian IT group

There Is No TikTok in China, Only Douyin. Here’s What It Is.

ByteDance owns both TikTok and Douyin, and although TikTok has more users around the world, Douyin is the company’s cash cow and a China mainstay.

China’s edge in flying cars and an Asian tag-team in AI

The inside story on the Asia tech trends that matter, from Nikkei Asia and the Financial Times

Europe’s Policymakers Get Ready to Lower Rates, Regardless of the Fed

European Central Bank governors are highlighting cooler inflation as a sign the bank could cut interest rates before the Federal Reserve.

This 'supereasy ramen' recipe shows how easy it is to make the Japanese noodle dish at home

Ramen noodles are so popular that they've become one reason to visit Japan. But ramen can easily be cooked up at home too, especially if you can get the ingredients at a neighborhood Asian grocery store. Japanese culinary expert Rii has a recipe on her Instagram for what she calls supereasy ...

Car production down 23.1% y/y in March

Car production in Thailand dropped 23.08% in March from a year earlier to 138,331 units, the Federation of Thai Industries said on Thursday.

Nationwide wins current account switching battle with record 163,000 customers after £200 offer

Nationwide stormed ahead of its rivals by setting a record for UK current account switches in the final three months of last year, according to new data, as intense competition for deposits among lenders continues into 2024.

News24 Business | BHP makes takeover bid for Anglo American

The world’s largest mining company, BHP Group, has made a takeover approach for rival Anglo American, a move that could spark the biggest shakeup in the industry in over a decade.

Kotak Mahindra Bank shares plunge 10% after RBI bars onboarding customers digitally

Shares of Kotak Mahindra Bank dropped by 10% following RBI's temporary pause on new customer onboarding and credit card issuance. Brokerages lowered target prices as the bank's online customer acquisition is affected.

Hipgnosis bidding battle hots up as Concord pips Blackstone bid

This comes after Blackstone the board of Hipgnosis had said it would be “minded” to switch horses in a takeover battle should a firm offer from US private equity giant Blackstone arrive, over the weekend.

Two of the five horses which ran loose through London are in a ‘serious condition’

This comes after a total of five Army horses were seen galloping through the streets of London on Wednesday, with four soldiers injured, after being thrown by them.

WPP expects to return to growth in second-half as AI tools ‘deployed at scale’

For the full year, the company said it expected to report like-for-like revenue growth less pass-through costs of zero to one per cent.

City Hall: Sadiq Khan tells Londoners to judge him on his transport policies on May 2

Sadiq Khan has told Londoners to judge him on his record on transport policies, including cycle superhighways and low traffic neighbourhoods, on May 2.

BNP Paribas bets on investment bank for growth despite bond trading blip

Eurozone’s largest bank forecasts rise in full-year profits and revenues even as interest rates are expected to fall

FTSE 100 today: London markets set to open lower amid Meta-induced tech rout

US stocks saw a slight rise amid volatility. Asian stocks declined as Meta reignited tech sell-off, and the Japanese yen dropped below ¥155. Meta's stock fell 15 per cent, contributing to market turbulence. Despite this, oil and gold prices held steady. Investors now await US Q1 GDP data and ...

Banks to cut rates by 25 bps for 'vulnerable groups'

Banks will cut lending rates by 25 basis points for vulnerable groups for a period of six months, the Thai bankers' association said on Thursday, responding to a government request to help small businesses.

Ed Warner: How do we value sport and the draw of much needed money

After World Athletics announced it would be paying its Olympic gold medallists, a fresh debate has opened up around money for our athletes and the draw of cash in sport for bodies. Ed Warner writes. The British Olympic Association seats its gold medallists in the front of the plane carrying its ...

Andrew Tyrie: How greater competition could spur productivity growth

"The UK government does not have a framework in place for monitoring levels of competition in the economy that’s fit for purpose," Lord Tyrie said. "It badly needs one".

Barclays profit drops on lower lending income as investment bank struggles

Barclays has reported an 11 per cent drop in profit as the boost from higher interest rates fade and its investment bank underperforms its Wall Street rivals.

Trading helps lift Deutsche Bank to highest quarterly profit in 11 years

First quarter net income increased by 10% from a year earlier to €1.45bn

Stock market today: Asian benchmarks mostly slide as investors focus on earnings

Asian shares are mostly lower as investors look ahead to a flood of global earnings reports, including from U.S. companies known as the “Magnificent Seven.” Shares fell Thursday in Tokyo and Seoul, while being little changed in Shanghai. Trading was closed in Australia for a national ...

How damage to the UK’s nature could knock £300bn off GDP

Damage to nature in the UK could contribute to a hit to the economy larger than the financial crisis or the Covid-19 pandemic, new research has shown.

If Hustle was on TV today, the first mark would be Boris Johnson

Hustle aw corrupt bankers get their comeuppance in the wake of the financial crash. Today's villains aren't businessmen but politician

Sainsbury’s predicts profit to exceed £1bn as Aldi price-matching pays off

Supermarket Sainsbury’s expects profits to exceed £1bn this year as it continues to win shoppers with loyalty card and Aldi price matching schemes. 

Asian benchmarks mostly slide as investors focus on earnings

Asian shares mostly declined Thursday as investors awaited a flood of global earnings reports, including updates from U.S. tech companies known as the “Magnificent Seven.” Japan's benchmark Nikkei…

European commercial real estate deal making slumps to 13-year low

Seventh successive quarter of declining volumes dashes hopes for revival as high interest rates continue to bite

Labour promises publicly owned rail - as Tories slam 'unfunded nationalisation'

Labour will promise to deliver the biggest shake-up to rail "in a generation" by establishing the long-delayed Great British Railways (GBR) organisation and bringing routes back into public ownership.

Will it work? Labour’s plan to reconceptualise the high street

In this column Sam Fowles take policies on their own terms. This week he asks whether Labour's plan to revive the high street will work.

TikTok has promised to sue over the potential US ban. What's the legal outlook?

Legislation forcing TikTok’s parent company to sell the video-sharing platform or face a ban in the U.S. has received President Joe Biden’s official signoff. But the newly minted law could face an uphill battle in court. Critics of the sell-or-be-banned ultimatum argue that it violates ...

As Getir leaves the UK, can challengers crack the grocery delivery market?

Just a few years after Getir entered the UK market during the Covid-19 pandemic, the brand is reportedly preparing to leave. The grocery delivery service’s exit is set to be announced this week, following its departure from Spain, France, and Italy earlier this year. So how did Getir get ...

Social media drives UK online ad spend to highest level ever

Total ad spend rose six per cent in 2023 to £36.6bn, although this translated to a 1.2 per cent contraction after accounting for inflation.

Barclays profits drop on savers switching and mortgage margin squeeze

First-quarter earnings decline 13% but beat analysts’ expectations

Quant hedge funds enjoy bumper start to 2024

Trend-followers profit from bets on rocketing cocoa price and against sinking yen

Stock market today: BSE Sensex dips 200 points; Nifty50 above 22,350

Stock market today: BSE Sensex and Nifty50, the Indian equity benchmark indices, opened in red on Thursday. BSE Sensex dipped 200 points and Nifty50 was near 22,300 levels.

US growth likely slowed last quarter but still pointed to a solid economy

The U.S. economy is thought to have extended its surprisingly healthy streak at the start of this year, with consumers still spending freely despite the pressure of high interest rates. The government is expected to report that the gross domestic product grew at a slow but still-decent 2.2% ...

Meta’s stock tanks 15 per cent as AI spending rises, revenue outlook fails to impress

Shares of Meta, the parent company of Facebook and Instagram, experienced a significant drop of more than 15 per cent during after-hours trading.

Heartbreak High is a global hit. So why aren’t there more Aussie shows like it?

Despite the series’ global runaway success, the future of rich, locally produced Australian content remains on a knife edge.

Is your online therapist exploiting you? Are they even qualified?

A combination of unlicensed therapists and the rise of therapy culture has led to the wild west of Betterhelp, writes Lucy Kenningham

Chickens: The latest victims of Bureaucracy Britain

Neil Bennett, co-CEO of H/Advisors and proud chicken owner, takes the Notebook pen to talk about how red tape if affecting his poultry.

Shares in De Beers owner surge after takeover approach

British mining heavyweight Anglo American surged as trading began on the FTSE 100 after it confirmed it is  “reviewing” a takeover bid from its larger Australian rival BHP. ]]>

SFO cases tower the Shard: Top barrister reveals his disclosure report

The leading barrister who is currently conducting an independent review of the challenges of disclosure and fraud offences said it is evident "that a perfect solution does not exist".

Sainsbury's boosted by strong food sales

The UK's second largest supermarket has spent heavily to keep prices low but clothing sales fell.

How China’s Nuctech earned EU funds before being hit by EU raids

Also in this newsletter: Waiting for Emmanuel Macron’s words of wisdom

New rules require airlines to automatically refund consumers for cancelled flights in US

US Department of Transportation mandates automatic refunds for flight changes, impacting low-cost carriers. Seaport Research highlights potential consequences. Airlines for America underscores commitment to consumer protection and affordability.

Markets Decline In Early Trade; HUL, Asian Paints, Titan Among Major Laggards

The 30-share BSE Sensex declined 296.79 points to 73,556.15. The NSE Nifty dipped 97.15 points to 22,305.25.

Astrazeneca’s revenue surges as pipeline investments pay off

Pascal Soriot, chief executive officer of AstraZeneca, said: "Astrazeneca had a very strong start in 2024 with substantial total revenue growth of 19 per cent in the first quarter.

CBI boss: Britain ‘can’t rest on laurels’ in growth industries like life sciences and net zero

The UK “can’t rest on our laurels” in high-growth industries like life sciences and net zero, the boss of Confederation of British Industry (CBI) is to say.

Meta shares sink after it reveals spending plans

The firm said expenses would be higher this year as it spends heavily on artificial intelligence.

Square Mile and Me: Workspace CEO Graham Clemett looks back at his career

Graham Clemett, CEO of Workspace Group, takes us through his career in the Square Mile ahead of his upcoming retirement.

Electric cars and digital connectivity dominate at Beijing auto show

Global automakers and EV startups are unveiling new models and concept cars at China’s largest auto show, with a focus on the nation’s transformation into a major market and production base for digitally connected, new-energy vehicles. Toyota and Nissan both announced tie-ups with major ...

Biden is giving $6 billion to Micron for a semiconductor project in upstate New York

The Micron project comes after the White House has announced massive investments for Intel, TSMC and Samsung in recent weeks using funds from the 2022 CHIPS and Science Act.

News24 Business | Lightning kills over 260 people a year in SA - but weather service says new French partner can help

The South African Weather Service is partnering with French company Meteorage to improve the use of lightning data for the safety of people, animals and infrastructure.

News24 Business | Clicks posts pleasing results, bolstered by private-label sales

Shares in Clicks rose just over 3% on Thursday after it hiked interim dividend 13% on strong earnings growth as it gained market share across its key beauty and health categories and strengthened margins.

News24 Business | Union's R300m loan frozen indefinitely after court sides with Iqbal Survé's media group

South Africa's largest clothing trade union has lost its court bid to compel Sekunjalo Independent Media to repay it R300 million after a judge ruled that the union's head legally signed a contract to subordinate - or freeze - the loan.

Wizz Air slashes profit guidance as Pratt & Whitney engine issues bite

Wizz Air has cut its targets for annual profit as issues with its GTF engines continue to impact capacity.

Supercar maker McLaren hit by £375m impairment charge

McLaren Group, the British supercar maker and Formula One team-backer, has given lenders signs of an improvement in its financial performance even after a £375m impairment charge propelled it to a record loss last year.

French air traffic controllers cancel a strike but Paris flights are still disrupted

Air passengers traveling to and from Paris have experienced significant disruptions Thursday, despite a decision by air traffic controllers to cancel a strike after last-minute negotiations. Flight operations were substantially reduced because of adjustments made to schedules ahead of the ...

Ex-senior boss van den Bogerd 'truly sorry' for Post Office scandal

Angela van den Bogerd, who handled complaints about the bug-prone Horizon system, is giving evidence to the inquiry.

News24 Business | Anglo leaps 16% as BHP says R743bn offer will offer 'immediate' value

BHP has confirmed a proposed all-share offer to acquire Anglo American at a substantial premium to the market value.

'Impending market plunge: Top strategist forecasts 44% S&P 500 crash'

Paul Dietrich anticipates a 44% S&P 500 plunge, advises asset shifts to bonds and gold for client protection during market downturns, drawing on past crashes and echoing concerns from Wall Street figures.

Labour would renationalisation rail in bid to save British taxpayer £2.2bn a year

Renationalising the railways will save the taxpayer £2.2bn every year, Labour’s shadow transport secretary has claimed, thanks to “significant efficiencies”.

BCW, H&K, FGS - how did WPP PR agencies fare in Q1?

Revenue in WPP's PR division fell 3.3 per cent on a like-for-like basis in the first quarter of 2024.

News24 Business | Markus Jooste's will: Firearms, cars, policies and R74 000 in cash

Markus Jooste left his wife three firearms, eight vehicles, various artworks, two policies, a retirement annuity, and almost R74 000 in cash – but it is not clear whether she will receive anything.

Lok Sabha polls 2024 bank holidays: Banks in these cities will be closed on April 26 for general elections Phase 2

Bank holidays on April 26, 2024, for Lok Sabha Election 2024. RBI classifies holidays; online banking services usable. Karnataka High Court declares public holidays for election days. Second phase details for Assam, Bihar included.

Dodgy data: what not to trust

Doubts over the credibility of economic and corporate statistics

Elite global firm McKinsey in US Justice Department hot chair over Opioid crisis

Consultancy firm McKinsey has been placed under criminal investigation in the US over its role in the country's Opioid crisis.

Next-generation nuclear developers battle with ‘regulatory marathons’

Alignment of standards would lower costs to develop small modular reactors, speeding up their rollout

Ocado enters most shorted UK companies list as Abrdn jumps to fourth. These two kept their top spots

Ocado has entered the top 10 list of most shorted stocks this month, coming third, while Abrdn saw two new firms take positions out against it.

When Foxtrot abrupty closed, TikTok was the place to go to vent

When the bodega-style chain Foxtrot announced it was closing all locations in the middle of the workday, customers, employees and vendors took to TikTok to express their frustrations.

Record revenue at former BBC Dragons’ Den star Duncan Bannatyne’s health and hotels group

The health club and hotels group owned by former BBC Dragons' Den investor Duncan Bannatyne has a record revenue and its highest profit since before the pandemic.

Schroders posts rise in assets as it looks to rebound from ‘challenging’ year

Schroders has reported an uptick in assets under management during the first three months of this year as it looks to rebound from a challenging 2023.

Engineering group Weir sees bright future for mining as 2024 orders tick up

Weir Group said it is on track to reduce company costs by £60m and grow operating margin to 20 per cent by 2026.

Shoppers are playing a large part in the continued growth of the U.S. economy

The Commerce Department reports Thursday on economic growth for January, February and March. Robust consumer spending is helping to keep the economy chugging along.

With New Salt and Sugar Limits, School Cafeterias Are ‘Cringing’

Many parents and nutritionists applauded stricter federal regulations, but food companies say the changes could increase costs and waste.

Inchcape bags £2.3bn after selling off UK arm

Shares in Inchcape soared over eight per cent this morning as it bagged £2.3bn in revenue in the first quarter.

Mytilineos eyes potential dual listing in London

Greek energy giant Mytilineos has said it is eyeing a potential secondary listing in London before the end of next year.

Nestlé hit by slowing frozen pizza sales in North America

US consumers’ changing habits in response to high prices takes toll on demand

BHP-Anglo American: a quick Q&A

Why now, why not earlier, why ever, at what price, and what it might mean for fertiliser production in North Yorkshire

Profits surge at Michael McIntyre and Jonathan Ross talent agency after international tour success

The talent agency that represents stars such as Michael McIntyre and Jonathan Ross has seen a surge in its turnover and profits after the success of an international tour.

New Biden climate rules target coal power plants

Industry faces 2039 deadline on the dirtiest energy source but existing gas plants escape present standards

American Airlines passenger alleges discrimination over use of first-class restroom

In a complaint to the airline, Pamela Hill-Veal, a retired judge, says that while on a Chicago-to-Phoenix flight, a flight attendant berated her and accused her of slamming the lavatory door.

Hydrocracking technology can produce SAF at lower costs: Honeywell

Honeywell's hydrocracking technology enables SAF production with reduced carbon intensity. The company's innovations align with aviation industry standards and contribute to the goal of achieving net zero carbon emissions from international aviation by 2050.

Ship comes under attack off coast of Yemen as Houthi rebel campaign appears to gain new speed

A ship traveling in the Gulf of Aden has come under attack, the latest assault likely carried out by Yemen’s Houthi rebels over Israel’s ongoing war on Hamas in the Gaza Strip. The attack comes after the U.S. military said early Thursday an allied warship shot down a Houthi missile ...

Good signal for Indian IT sector job seekers: Contractual hiring shows demand uptick

India's information technology companies are seeing a surge in contractual hiring, indicating improvements in the demand environment for IT services providers. The uptick in contractual hiring follows a period of subdued demand and layoffs in the sector.

Mortgage and valuation giant LSL Property Services continues strong start to 2024 with share buyback

LSL Property Services, one of the largest providers of mortgage and valuation services, has continued its strong start to 2024, surpassing analyst expectations.

Rolex sibling Tudor gets the Barbie makeover with pink Black Bay

The Tudor Black Bay Chrono ‘Pink’ might not be for everyone, and that’s OK because few of them will ever be made

The National Enquirer’s Parent Company Struggles To Find A Buyer

The parent company for The Enquirer, the tabloid now famous for its ties to former President Donald J. Trump, has tried repeatedly to sell the publication. It hasn’t been easy.

Commodity prices could keep inflation high, warns World Bank

Sharp falls in commodities are unlikely to continue, says lender, making it harder for central banks to cut interest rates

Aston Martin DBX707 updated with fresh interior and new tech

The Aston Martin DBX707 has received a comprehensive range of interior upgrades for 2024. The British company’s flagship SUV already offered class-leading power and performance when launched in 2022, but its infotainment tech could hardly be described as cutting-edge. That has all changed ...

Southwest posts a 1Q loss and will limit hiring, offer voluntary leave to staff and drop 4 airports

Southwest Airlines will limit hiring and offer voluntary leave to employees after losing money in the first quarter. The airline also says it will stop flying to four airports as it tries to cut costs and deal with delays in getting new planes from Boeing. Southwest said Thursday that it lost ...

England has highest rates of child alcohol consumption, WHO finds

Global health experts call for curbs on online marketing to protect teens from marketing of ‘harmful products’

Tough new EPA rules would force coal-fired power plants to capture emissions or shut down

A rule issued by the Environmental Protection Agency would force power plants fueled by coal or natural gas to capture smokestack emissions or shut down. The new limits unveiled Thursday on greenhouse gas emissions from fossil fuel-powered electric plants are the Biden administration’s most ...

Is China stockpiling oil and other resources in case of future war?

Tankers in Dongying discharge Russian oil for China's reserves, exceeding US. Amid rising Russian imports post Ukraine invasion, China consumes 14M barrels/day, preparing for potential future conflicts and building strategic stockpiles.

EU military officer says a frigate has destroyed a drone launched from Yemen's Houthi-held areas

A top European Union top military officer says a frigate that’s part of an EU mission in the Red Sea to protect merchant shipping has destroyed a drone launched from an area in Yemen controlled by Houthi rebels. Austrian Gen. Robert Brieger is the chair of the EU’s military Committee. ...

Have the @Paytm UPI handle? Here’s how you can activate a new UPI ID on the Paytm app

RBI restricts Paytm Payments Bank from receiving money post-March 15, 2024. Users must switch from '@paytm' UPI handles to new ones like '@ptsbi' for SBI. Paytm integrates with major banks under NPCI's approval.

Goldman Sachs names new Japan chief after abrupt exit of former president

Promotion of Hong Kong based insider Hidehiro Imatsu follows months-long leadership vacuum

Rachel Reeves: Labour will be ‘most pro-business government this country has seen’

Speaking to the Times, Reeves promised that business groups would be "in the room" to ensure Labour met its "mission" to make the UK the fastest growing economy in the G7.

Swiggy IPO: Food delivery platform bags shareholder approval for $1.2 billion offering; know all the details here

Swiggy, a Bengaluru-based company, approved for IPO to raise funds. Major investors include Prosus and SoftBank. Co-founders own stakes. Revenue rises by 45%, net loss up by 15%. Majety appointed CEO, Reddy Head of Innovation.

Toyota pilots EV pickups in Pattaya

Toyota has launched a public transport pilot project in this beach resort city with nine fully electric Hilux Revo pickup trucks.

Sainsbury’s says customers ready to splurge as it targets higher profits

Supermarket chain’s chief suggests shoppers are starting to ‘trade up’ as food price inflation eases

Bristol Myers Squibb drafts contingency plans for US restrictions on Chinese pharma

Biosecure Act would prohibit American companies receiving federal grant money from working with some Chinese groups

Persimmon ‘on track’ to build 10,500 homes this year as property market recovers

Persimmon said it is on track to build between 10,000 and 10,500 properties this year, in the latest signal of green shoots emerging in the market despite interest rates remaining high. 

Drugmaker Indivior seeks shareholder approval to move primary listing from London to New York

Opioid dependence treatment maker Indivior has confirmed a plan to move its primary stock market listing from London to New York this summer in yet another blow to the capital's beleaguered bourse.

As Biden celebrates computer chip factories, voters wait for the promised production to start

President Joe Biden has a great economic story to tell voters a decade from now — less so in 2024. On Thursday, the Democratic president will head to upstate New York to celebrate Micron Technology’s plans to build a campus of computer chip factories made possible in part with government ...

Micron secures $13bn in US support to expand chipmaking capacity

Idaho-based memory chipmaker is latest beneficiary of funding from 2022 Chips Act

That's rich: Rise in all-cash transactions helping drive price gains for most expensive US homes

Well-heeled home shoppers are increasingly paying cash, helping turbo-charge price gains for the most expensive U.S. homes. The median sale price of luxury homes, or those valued in the top 5% of the market nationally, hit an all-time high $1.23 million in the first quarter, an increase of 8.7% ...

Tech Mahindra misses Q4 revenue view on weak communications segment

Tech Mahindra's fourth-quarter revenue fell below estimates due to weak performance in the communications and media segment. The company reported a decline in consolidated revenue and net profit, influenced by macroeconomic factors like inflation and geopolitical risks.

A New Battery Warns Parents if Their Child Has Swallowed It

The new battery by Energizer, with “color alert technology,” comes nearly two years after a report warned that more children were swallowing batteries.

BHP will have to dig deeper for Anglo American’s copper

Any deal would need South African government’s approval while cost savings are another issue

US economy disappoints in first quarter of 2024 as growth slows far more than expected

The US economy slowed far more than expected in the first quarter of the year as its gross domestic product (GDP) endured the influence of stubborn inflation and high interest rates.

Friends, family, royalty seek mercy for crypto’s richest man Changpeng Zhao

Binance, the world's largest cryptocurrency exchange, admitted to violating US anti-money-laundering and sanctions regulations in the previous year. As a result, the company was fined $4.3 billion and agreed to be supervised by authorities. The company's CEO, known as "CZ," also acknowledged ...

Trainline and Firstgroup shares tumble as Labour pledges rail nationalisation

Trainline and Firstgroup shares fell this morning after Labour announced plans to renationalise Britain's railway network in the next five years.

A Chinese Firm Is America’s Favorite Drone Maker — Except in Washington

U.S. authorities consider DJI a security threat. Congress is weighing legislation to ban it, prompting a lobbying campaign from the company, which dominates the commercial and consumer drone markets.

Watch: BP AGM thrown into chaos as climate and Palestine protesters arrested

Last month, Free Palestine supporters stormed the stage at London's International Energy Week Conference during a panel with BP representatives.

Congo questions Apple over knowledge of conflict minerals in its supply chain

Congo’s government is questioning Apple about the tech company’s knowledge of “blood minerals” from a conflict zone in the African country that could be smuggled into supply chains. It's demanding answers within three weeks. A group of international lawyers representing Congo said ...

Alert: US growth slowed sharply last quarter to 1.6% rate, reflecting an economy pressured by high rates

US growth slowed sharply last quarter to 1.6% rate, reflecting an economy pressured by high rates.

Government allows exports of specified quantity of white onion via three ports

How fraudsters are getting fake articles onto Facebook

Scammers are able to get past automated checks on the social media giant to try to defraud users.

Amazon cloud computing unit plans to invest $11 billion to build data center in northern Indiana

Amazon’s cloud computing unit Amazon Web Services plans to invest $11 billion to build a data center in northern Indiana that will create at least 1,000 new jobs. Republican Gov. Eric Holcomb announced the planned project Thursday, calling the data center planned near the town of New ...

British Patient Capital invests over £40m to boost UK cyber security firms

The UK's cyber security industry is currently in high demand due to a rise in attacks, especially on businesses and high-income charities.

Success Story: Meet Man Behind India's Largest Luggage Manufacturing Brand, Linked to Isha Ambani's Family! ; Check Net Worth

Despite not being in the limelight like other Ambani members, this man made a significant mark and grabbed a spot in the business world.

Online Course Offering | Underground Storage Tank Operator Safety Program

API Learning offers Underground Storage Tank Operator Training and Certification that meets the requirements mandated by the  -More- 

DOE advisers cast doubt on hydrogen output capacity

An advisory committee commissioned by the Energy Department has produced a report that contends the "clean" hydrogen industry -More- 

U.S. Economy Grew at 1.6% Rate in First Quarter

Consumers ensured that growth continued, but the latest data showed signs of vulnerability elsewhere.

Paris working to ready River Seine for Olympics

There has been some doubt about whether water quality in the River Seine will reach the level needed to support swimming duri -More- 

Southwest Quits Four Airports in Cost-Cutting Drive

The airline expects fewer deliveries of Boeing planes than before, and cited “significant challenges” in achieving growth plans because of it.

US applications for jobless claims fall to lowest level in 9 weeks

Fewer Americans applied for unemployment benefits last week as the labor market continues to hold up despite higher interest rates imposed by the Federal Reserve in its bid to curb inflation. The Labor Department reported Thursday that unemployment claims for the week ending April 20 fell ...

Former top Post Office executive says she never 'knowingly' did anything wrong

A former top Post Office executive has told the inquiry into the Horizon scandal that she never "knowingly" did anything wrong.

Stellantis boss slams ‘terrible’ UK electric vehicle policy

Carlos Tavares says Britain’s quota regime could bankrupt carmakers

Top Anglo American shareholders criticise BHP’s £31bn bid as ‘opportunistic’

Legal & General and Abrdn say offer substantially undervalues UK-listed miner

Union Pacific's first-quarter profit creeps up 1% as railroad limits expenses

Union Pacific's first-quarter profit crept 1% higher and topped Wall Street expectations as the railroad tightened up on expenses even though it delivered slightly less freight. The Omaha, Nebraska-based railroad said Thursday it made $1.64 billion, or $2.69 per share. That's higher than the ...

Communicators can glean savvy tips from Passover Seder

Getting your audience involved improves your communication, and it's one of several lessons storytellers can learn from Passo -More- 

Mix of factors signal possible relief at the pump

Easing geopolitical tensions, Russia's swift refinery repairs and the end of US refinery maintenance season are expected to h -More- 

Airlines will have to make it easy to get flight refunds

The US government has issued new rules that require airlines to give passengers a full refund -- not a travel credit or vouch -More- 

Seagull nip propels boy to win Gull Screeching contest

A 9-year-old British boy named Cooper has won the EC Gull Screeching competition, impressing the judges with several unique c -More- 

Markets Extend Gains For 5th Session; Sensex Revisits 74K

Recovering after a sell-off in early trade, the 30-share BSE Sensex climbed 486.50 points or 0.66 per cent to settle at 74,339.44. During the day, it surged 718.31 points or 0.97 per cent to 74,571.25.

Barclays profits down amid sluggish mortgage demand

Barclays has reported a 12% fall in profits for the first three months of the year after mortgage lending and deposits dipped.

PwC picks consultant Marco Amitrano as next UK senior partner

Big Four firm names new head after three-way race that included female candidates for first time

2024 Jeep Wrangler Launched, Pricing Starts at Rs 67.65 Lakh

The 2024 Wrangler is equipped with ADAS, including Forward Collision Warning with Advanced Brake Assist, Auto High Beam Headlamps, and Adaptive Cruise Control with stop-and-go functionality. 

Deutsche Bank posts best quarterly profit in 11 years

Deutsche Bank's fixed-income trading climbed 7% in the first quarter, above analysts' expectations and outperforming most US  -More- 

Meet the Luton-raised Italian running fan taking the top job at PwC in the UK

Company veteran Marco Amitrano has been elected to succeed Kevin Ellis as head of PwC's operations in the UK.

Biden, Seeking to Build on Fruitful Week, Will Announce Billions in Chip Grants

The $6.1 billion for Micron, to shore up the domestic supply of semiconductors, comes after a key union endorsement and passage of an aid bill central to the president’s foreign policy agenda.

LPO's Shah talks hydrogen, grid solutions and more

The energy transition in the US is so vast and touches so many different points that it can be very difficult to conceptualiz -More- 

News24 Business | Hawks investigating whether crypto Ponzi kingpin Johann Steynberg has died

Brigadier Nomthandazo Mbambo said the Hawks, which have been investigating fraud at MTI for the past three years, were trying to confirm and verify reports of the 40-year-old's death.

Honda Commits to E.V.s With Big Investment in Canada

The Japanese automaker, which has been slow to sell electric vehicles, said it would invest $11 billion to make batteries and cars in Ontario.

Bottoms up: Central London set for a new rooftop bar as Maven Leisure raises £2m

Maven plans to raise the money via the private equity investment firm Growthdeck, which offers “tax-efficient investment opportunities in UK growth businesses”.

"Love it or leave it" can be tricky way to view your job

Now that noncompete agreements might be a thing of the past, more people might be tempted to adopt a "Love it or leave it" at -More- 

'This isn't over': Unions vow to fight 'rejection' of plan to save Tata Steel jobs

Unions have warned of a bitter fight ahead, saying their plans to avert thousands of job losses at Tata Steel have been rejected by the company.

Apple accused by Congo over conflict minerals in iPhones

Lawyers representing DRC allege Apple’s products contain illegally exported minerals, despite tech company’s claims of environmental and social responsibility

European ports swamped with cars amid China EV offensive

Some European ports are struggling to cope with a massive influx of vehicles. The surge in imports, mostly from China, has transformed these ports into vast parking lots causing congestion and delays.

Cava restaurant opens in Wicker Park on Friday, announces future suburban location

America's billion-dollar bet on US chipmaking

Joe Biden is desperate to bring advanced chipmaking to the country and is willing to pay a lot for it. Using the CHIPS Act, the government is splurging billions to lure manufacturers. But can they compete with Taiwan?

Shippers question Trans Mountain's readiness for service

In a letter to the Canada Energy Regulator, Trans Mountain oil shippers cast doubt over the long-delayed pipeline's ability t -More- 

Hotwire names prominent tech journalist as first Global Advisory Board member

Tech comms specialist Hotwire has appointed an expert and consultant on AI technologies as the first member of its new Global Advisory Board.

How women can position themselves for leadership roles

Women seeking a leadership or C-suite roles need to first ensure they are comfortable speaking to their accomplishments, embr -More- 

Barclays returns to profit in Q1

Barclays returned to profit in the first quarter after a strategic overhaul, reporting net income of 1.55 billion.  -More- 

Noncompete agreements became nonexistent

The vast majority of workers in the US can say goodbye to noncompete agreements.  -More- 

Use these best practices to avoid new leader burnout

New leaders may suffer from overwhelm or an urge to prove themselves, which can lead to being overextended, ignoring difficul -More- 

Gusts of activity underway by friends and foes of offshore wind energy projects

Supporters of offshore wind energy projects in New Jersey and New York are trading blows with opponents in some shore towns who say vacationers and local residents don't want to see turbines filling the ocean horizon. Eight Jersey Shore beach towns tell state utility regulators that one wind ...

Chasing unicorn status is a major distraction

Bain researchers say that startup success should not be measured based on hitting unicorn status -- $1 billion valuation -- b -More- 

A justifiable ban on US non-compete clauses

There are other ways of retaining key workers and protecting trade secrets

Big companies dodge spending crunch as small businesses face rising failure risk

Large corporations, including supermarkets, have become more resilient, but smaller retailers are facing greater risk of failure as the consumer spending crunch drags on.

My work wants my biometric data. Am I right to feel uncomfortable?

Given the problem of identity theft in the electronic age and of the growing sophistication of bad digital actors, handing over biometric data can feel iffy.

U.S. Economy Grew at 1.6% Rate in First-Quarter Slowdown

Gross domestic product, adjusted for inflation, increased at a 1.6 percent annual rate in the first three months of the year.

Net neutrality restored as FCC votes to regulate internet providers

The FCC on Thursday restored rules to prevent broadband internet providers such as Comcast and AT&T from favoring some sites and apps over others — for instance, by slowing or blocking certain content or by offering higher speeds to customers willing to pay extra. The move effectively ...

Mining giant BHP proposes buyout of Anglo American

The potential mega merger would give BHP access to Anglo American's copper assets.

German consumer sentiment to rise in May

German consumer sentiment is expected to increase in May as households' income expectations improve.  -More- 

Mining giant BHP Billiton makes $39 billion bid for Anglo American to expand copper operations

Shares in U.K.-based mining giant Anglo American have surged after it received a 31 billion-pound ($39 billion) takeover bid from rival BHP Billiton. The deal would create the world’s biggest copper miner, with around 10% of global output. Anglo American’s share price closed up 16% ...

Meta Platforms, O'Reilly Automotive fall; Chipotle, TransUnion rise, Thursday, 4/25/2024

Stocks that are trading heavily or have substantial price changes on Thursday: Meta Platforms, O’Reilly Automotive fall; Chipotle, TransUnion rise.

US economy: GDP growth slows to 1.6% in first quarter

The US growth rate was substantially lower than the 2.4% widely predicted by analysts. The fall in the growth rate comes alongside declining consumer spending and exports.

Chipotle reverses protein policy, says workers can choose chicken once again

Chipotle says its employees can choose chicken again. Last week, the chain asked its U.S. and Canadian employees to temporarily select another protein for their work meals to preserve the company's supply of chicken. The directive applied to both corporate staff and restaurant employees. The ...

Meta’s gamble on chatbots opens new wave of tech competition

Zuckerberg’s AI plans may have knocked its stock market value, but he hopes his next venture will have dramatic impact

Over 50% of plastic waste linked to less than 60 firms

Fifty-six multinational brands are linked to more than 50% of all plastic pollution in the environment, according to a five-y -More- 

Exporters to benefit from surging dollar

Companies with significant dollar earnings, including Asian chipmakers and European industrial firms, are expecting a windfal -More- 

Biden looks to support chip research, address concerns

The Biden administration is continuing its push to strengthen the US chip industry and semiconductor research, but some group -More- 

Double glazing giant Everest crashes into administration

One of Britain’s biggest double-glazing suppliers has crashed into administration, leaving insolvency practitioners engaged in a race to salvage hundreds of jobs.

BNSF becomes 2nd major railroad to sign on to anonymous federal safety hotline for some workers

BNSF will become the second major freight railroad to allow some of its employees to report safety concerns anonymously through a federal system without fear of discipline. The Federal Railroad Administration announced Thursday that the railroad owned by Warren Buffett's Berkshire Hathaway had ...

Leaders should focus on strategy to increase productivity

Leaders should focus on strategic tasks instead of working around the clock to boost productivity, says Stefania Mallett, co- -More- 

Tata Steel ending union talks over 2,800 jobs

The company is expected to press ahead with plans to close Port Talbot's blast furnaces.

Goldman and Citadel Securities back Lutnick’s renewed tilt on futures market

Soon-to-launch venture marks bond pioneer’s third attempt to break stranglehold of Chicago’s CME

Key Solar Panel Ingredient Is Made in the U.S.A. Again

REC Silicon says it will soon start shipping polysilicon, which has come mostly from China, reviving a Washington State factory that shut down in 2019.

Thursday evening news briefing: Yousaf’s political future could lie in Alex Salmond’s hands

Would nationalisation get the railways back on track?

Labour have promised to renationalise nearly all passenger railways within their first term if they win the next election. But will it leave the railways better off?

Law firm mulls legal claim against Home REIT sister fund

A law firm is considering bringing a legal claim against a Home REIT sister fund, which has collapsed in value and is being investigated by the Financial Conduct Authority (FCA), City A.M. has learned. 

LIV Golf Adelaide a point of difference for Saudi Arabia league

When the LIV Golf roster tee off for the first event in the league since the Masters at Augusta earlier this month it is likely to feel like another marquee match event on the 2024 calendar. Because Adelaide, South Australia, is the closest the Saudi Arabia-backed breakaway league has to its ...

Meta offers lessons in growth, agility, arrogance

Jovan Protic of Ringier Axel Springer Polska looks at how Meta has launched its AI chatbot on the heels of ChatGPT in what so -More- 

US GDP grew less than expected in Q1 at 1.6%

US GDP grew at a 1.6% annualized pace in the first quarter after adjustments for inflation and seasonality, according to the  -More- 

FTC sued over prohibiting noncompetes for many workers

The US Chamber of Commerce, the Business Roundtable and two Texas-based business groups have brought a lawsuit challenging th -More- 

The Chips Act has been surprisingly successful so far

More than halfway through its incentives spending, the US will have far greater scope to manage shocks

Some 300 musicians, from Diplo to Nile Rodgers, lobby Congress for ticketing reform

Billie Eilish, Fall Out Boy, Nile Rodgers, Cyndi Lauper, Lorde, Sia, Diplo and Chappell Roan are among the signatories of an open letter urging a Senate committee to support the Fans First Act.

US wants allies to cut chip-related China exports amid Huawei alarm

Washington urges Japan, South Korea and the Netherlands to tighten supply of tools and technology

The TikTok law kicks off a new showdown between Beijing and Washington. What's coming next?

TikTok is gearing up for a legal fight against a U.S. law that would force the social media platform to break ties with its China-based parent company or face a ban. A battle in the courts will almost certainly be backed by Chinese authorities as the bitter U.S.-China rivalry threatens the ...

After two Boeing 737 Max crashes, families are still seeing answers from DOJ

More than five years after two 737 MAX crashes killed 346 people, families of the victims are still pushing the Justice Department to hold Boeing accountable. They're frustrated by the response.

Phoenix Energy sold to Hong Kong billionaire

Phoenix owns and operates the largest natural gas distribution network in Northern Ireland.

High commodity prices could keep inflation elevated, World Bank warns

The World Bank has predicted that commodity prices will fall just three per cent in 2024 and four per cent in 2025.

Labour denies railways will be given 'lower priority' under renationalisation plans - as Tories warn of 'wildcat strikes'

Labour has denied the railways will be given "lower priority" if they are brought back into public ownership as the party pledged to "sweep away" the current "broken" model.

U.S. labor secretary says UAW win at Tennessee Volkswagen plant shows southern workers back unions

Acting U.S. Labor Secretary Julie Su says workers at southern auto plants should be free to unionize without employer or political interference, even as some southern states pass new laws meant to inhibit organized labor. Su told The Associated Press in a Thursday interview that recent votes ...

Chinese ship remains prime suspect in damage to Baltic Sea gas pipeline that reopened this week

Finnish investigators say a Chinese container ship remains the prime suspect in causing damage last year to a Baltic Sea gas pipeline between NATO members Finland and Estonia. It has been over six months since substantial, human-made damage that caused a major drop in pressure was first ...

News24 Business | Nestlé to stop adding sugar to baby food in SA and poorer nations by the end of the year

Nestlé has said it would stop adding sugar to its baby food products by the end of the year after being accused of applying a double standard in the sugar content of its formulations in different regions.

US regulator pauses plans to scrutinise big investors in banks

FDIC board postpones votes on rival proposals that have alarmed the fund management industry

‘Asleep at the wheel’: James Cleverly slams Khan’s mayoral record

James Cleverly has slammed Sadiq Khan on his record as London mayor, accusing him of being “asleep at the wheel” and “10m people being failed”.

Honda planning to expand its electric vehicle efforts in Canada, Toyota expands in Indiana

Honda plans to invest $11 billion, with the help of joint venture partners, to build out its electric vehicle efforts in Canada as it prepares for future demand in North America for the automobiles. The company said Thursday that it has started evaluating the requirements to build an EV plant ...

Nursing home industry rebukes new federal rule on minimum staffing requirements

NPR's Scott Detrow talks with American Health Care Association's CEO Mark Parkinson about the new rule that establishes staffing minimums at nursing homes that receive Medicare and Medicaid funding.

Salaried workers making under $43K will earn OT under new rule

The Department of Labor has set the new annual salary threshold for salaried managers to receive overtime pay at $43,888, up  -More- 

IKEA brings AI education to employees

IKEA parent Ingka Group is incorporating AI understanding within the organization through an education initiative for about 3 -More- 

Antiwar protesters' calls for divestment at universities put spotlight on how endowments are managed

One of the demands of antiwar protestors on college campuses is for their schools to divest their endowments from companies that are profiting from Israel’s war against Hamas in Gaza. Endowments are the holdings and investments that universities and some nonprofits manage as a kind ...

SET chair tipped to be next finance minister

The chairman of the Stock Exchange of Thailand (SET), Pichai Chunhavajira, is likely to emerge as the next finance minister in the next cabinet reshuffle, in which Pheu Thai looks set to lose several cabinet posts to other coalition partners, a source said on Thursday.

Trading Trump: Truth Social's first month of trading has sent investors on a ride

With Donald Trump facing dozens of federal criminal charges and hundreds of millions in legal expenses, Trump Media & Technology Group Corp. went public on the Nasdaq exchange March 26. Its performance has confounded analysts. It's gone up and down and defied Wall Street expectations. That is, ...

E-tailers start tagging 'health drinks' as 'nutrition drinks'

Charles Schwab eyes UK rollout for US-domiciled ETFs

Schwab AM has no plans to launch EU-domiciled funds and EU rules inhibit the sale of US ETFs to retail investors

Journalists critical of their own companies cause headaches for news organizations

Journalists see themselves as truth-tellers, and sometimes as contrarians. That fuels news organizations, but it also can bite back. Internal turmoil this spring at NBC News, NPR and The New York Times can essentially be traced to journalists turning a critical gaze toward their own employers. ...

Big asset managers adopt ‘vulture’ tactics in distressed debt fights

Loosening credit agreements mean traditional investors who once could avoid messy legal battles are having to evolve

IG Group clients hit by refund errors

Company blames ‘technical issue’ for money being removed from accounts

Rooting for Trump to fail has made his stock shorters millions

Rooting for Donald Trump to fail has rarely been this profitable. Just ask a hardy band of mostly amateur investors who have collectively made tens of millions over the past month by betting that the stock price of his social media business – Truth Social – will keep dropping despite wild ...

Nestle net profit up 27% in March quarter

Nestle India's net profit rose by 27% to Rs 934 crore in the March quarter, driven by strong growth across its product portfolio amidst challenges from food inflation and volatile commodity prices.

South Africa could be a thorn in BHP’s side as it makes £31bn Anglo American bid

The world’s biggest miner faces fraught politics and complicated history weeks before key general elections

Pharmaceutical, health tech firms lay off huge swaths of Bay Area workers

Hundreds of Bay Area employees at health companies will have to find new jobs.

The Onion Sold by G/O Media

The satirical news website was bought by a new firm in Chicago that took inspiration for its name, Global Tetrahedron, from a book written by The Onion’s staff.

Who takes over Tritium, the titan house of EV charger manufacturing in Australia?

Tritium was viewed as a national success story and its collapse leaves a significant gap: “Who’s going to fill that space when we’re trying to build the charging network?”

Man wrongly identified as Bondi Junction attacker settles with Seven

The 20-year-old university student wrongly identified by Seven has settled his legal dispute with the network for an undisclosed sum.

Regulator delays approval of NT foreign satellite plan

The National Broadcasting and Telecommunications Commission (NBTC) has again delayed approval of a proposal by National Telecom (NT) for licences to operate a service using a foreign satellite.

Why Boeing’s cash woes could merit an industrial policy lifeline

Given the level of government scrutiny facing the jet maker, aligning regulatory and commercial interests might seem sensible

Tesla share price surge highlights electric vehicle investors’ jitters

Also in today’s newsletter, meet the new players in the sustainable bond issuance space

Bank holidays in April 2024: Are banks open on Saturday, April 27, 2024?

In April 2024, bank holidays impact operations with closures on specific Saturdays. ATMs and online services remain available. India's banks follow a distinctive schedule, open on select Saturdays and closed on national festivals.

HSBC successfully fights off £240m legal challenge over Disney film tax scheme

A legal challenge against HSBC for £240, by investors of a film tax scheme has failed, as the High Court judge ruled their significant losses was not enough for a good claim against HSBC

Mahindra XUV 3XO Teaser: Performance, Mileage, And Other Features Revealed

According to the recent teaser, Mahindra XUV 3XO will offer a 6-speed torque converter automatic gearbox for the diesel engine, replacing the previous 6-speed AMT.   

Former PR adviser handed 3-year insider trading sentence in ‘breakfast trust’ trial

Defendant made more than €14mn in profit using tips from Perella Weinberg banker

Alphabet, Microsoft shares jump on proof of near-term AI returns

Haggas hoping to get Hong Kong monkey off his back with Dubai Honour

WILLIAM Haggas has had great success overseas, but he is yet to have a winner in Hong Kong. “That really irks me,” said the 63-year-old Newmarket-based trainer. “We’ve had a bit of luck abroad in other places but not in Hong Kong, so I’d like to get that monkey off my back so to ...

EP: 268 Sandown & Hong Kong Champions Day

The final day of the jumps season still has one big question to answer as three trainers can still finish at the top of the tree. Willie Mullins, Dan Skelton and reigning champion Paul Nicholls all go into Saturday at Sandown with chances of becoming champion trainer where we hope to see Jonbon ...

Ranking of the best horse racing syndicates in the UK

Racing Club Founded by Jordan Wylie MBE & former Jockey Club marketing lead Richard Jaques, Racing Club is a community-focused horse racing syndicate aimed at providing affordable and accessible racehorse ownership through RC Syndicates. It brings together individuals interested in horse ...

University protesters want their schools to divest from Israel over its war in Gaza

NPR's Leila Fadel speaks with Chris Marsicano of Davidson College in North Carolina about how higher education institutions might go about divesting from Israeli interests, as demanded by protesters.

Daniel Křetínský buys 20% stake in Thyssenkrupp’s steel unit

Deal is latest acquisition by ‘Czech Sphinx’ who is also seeking to buy Royal Mail’s parent company

Superdry landlord M&G eyes challenge to rescue plan

The owner of Superdry’s flagship store in central London is weighing a challenge to a rescue plan that would impose steep haircuts on the struggling chain’s landlords.

Exxon Mobil profit declines in 1st quarter as natural gas prices fall

Exxon Mobil’s profit declined in its first quarter as natural gas prices fell and industry refining margins dropped. The energy company earned $8.22 billion, or $2.06 per share for the three months ended March 31. A year earlier it earned $11.43 billion, or $2.79 per share. The results ...

Alert: US agency is investigating whether the recall of Tesla Autopilot driving system did enough to ensure drivers attention

US agency is investigating whether the recall of Tesla Autopilot driving system did enough to ensure drivers attention.

News24 Business | Implats warns it could cut nearly 4 000 jobs, eyes 30% reduction in head office costs

Impala Platinum, the world's second-largest platinum producer, said on Friday it has entered into retrenchment talks that could affect 3 900 positions.

Jury in Abu Ghraib trial says it is deadlocked; judge orders deliberations to resume

A judge ordered jurors Friday to keep deliberating after they said they were deadlocked in a lawsuit alleging a Virginia-based military contractor is liable for abuses suffered by inmates at the Abu Ghraib prion in Iraq two decades ago. The eight-person civil jury has deliberated the equivalent ...

Would you change your name to get a job?

Research has shown it could be your name that is causing you to be placed in the reject pile. But why should applicants to do all the work?

ECB's Panetta calls for rate cuts soon

European Central Bank Governing Council member Fabio Panetta has advocated for immediate rate cuts to avoid the need for ultr -More- 

World Bank warns commodity prices may delay rate cuts

High commodity prices, which are still above pre-pandemic levels, are likely to prevent central banks from reducing interest  -More- 

The 22-mile trip for post-Brexit border controls starts next week

Checks on food arriving at Dover will be carried out on the outskirts of Ashford

Interactive Brokers expands Treasury trading hours

Interactive Brokers has extended the trading hours for Treasury bonds to 22 hours for each weekday.  -More- 

Berkshire Hathaway's real estate firm to pay $250 million to settle real estate commission lawsuits

A real estate company owned by Warren Buffett’s Berkshire Hathaway has agreed to pay $250 million to settle lawsuits nationwide. The lawsuits claimed that longstanding practices by real estate brokerages forced U.S. homeowners to pay artificially inflated broker commissions when they sold ...

Secondary market develops to aid private credit liquidity

Growth in private credit has led to difficulty exiting some holdings, but a solution is taking shape in the form of portfolio -More- 

Financial industry grapples with fallout from noncompete ban

A sweeping ban on noncompete agreements by the Federal Trade Commission is pushing financial firms to reconsider long-standin -More- 

A Safer CAT for Investors

The SEC-mandated Consolidated Audit Trail (CAT) is set to be fully operational by May 31, 2024, becoming the largest database -More- 

Net neutrality is back: U.S. promises fast, safe and reliable internet for all

The U.S. will reinstate Obama-era regulations for internet service providers that promise fast, reliable and fair internet speeds for all consumers. What happened when those rules were taken away?

Google plans to invest $2 billion to build data center in northeast Indiana, officials say

Officials say Google plans to invest $2 billion to build a data center in northeastern Indiana to help power its artificial intelligence technology and cloud business. The Journal Gazette reports that the planned data center in Fort Wayne was announced in January, but Google and Gov. Eric ...

Tech CEOs Altman, Nadella, Pichai and others join government AI safety board led by DHS' Mayorkas

The CEOs of leading U.S. technology companies are joining a new artificial intelligence safety board to advise the federal government on how to protect the nation’s critical services from “AI-related disruptions.” Homeland Security Secretary Alejandro Mayorkas announced the new board ...

Friday evening news: King to resume public duties as doctors pleased with cancer treatment briefing

Starts May 1: Register for the US-China Relations and Financial Services webinar series

The economic relationship between the US and China is evolving.  -More- 

BHP’s move for Anglo signals fierce battle for resources vital to green transition

Also in this newsletter: US inflation higher than expected, panic on Wall Street, science round-up

Once advantageous niche financing puts NextEra in a bind

NextEra Energy Partners, a subsidiary of NextEra Energy, is grappling with the repercussions of its convertible equity portfo -More- 

GDP growth below expectations in Q1 as inflation rises

GDP increased an annualized 1.6% in the first quarter, below expectations, as consumer and government spending slowed, accord -More- 

140,000 people did their taxes with the free IRS direct file pilot. But program's future is unclear

The IRS says more than 140,000 taxpayers filed their taxes through its new direct file pilot program. It says the program’s users claimed more than $90 million in refunds and saved roughly $5.6 million in fees they would have spent with commercial tax preparation companies. But despite what ...

PCE price index up 2.7% in March

The personal consumption expenditures price index rose 0.3% from the prior month in March and was up 2.7% from a year earlier -More- 

Alphabet, Snap rise; Intel, Boyd Gaming fall, Friday, 4/26/2024

Stocks that are trading heavily or have substantial price changes on Friday: Alphabet, Snap rise; Intel, Boyd Gaming fall.

Yen hits 34-year low as BoJ holds rates

The Japanese yen has dropped to its lowest level in 34 years, reaching 156.82 against the dollar, after the Bank of Japan dec -More- 

Olive oil is getting harder to find and costing as much as 70 per cent more. Here’s why

Olive oil is among the essential household staples that have increased in price thanks to climate change’s impact on weather unpredictability, joining the ranks of cocoa and coffee.

Sizeable slice of old Fitzroyalty up for grabs

The Fitzroy estate belonging to notorious slum landlord Frank Cassar has hit the market, 13 years after his death and a bitter family feud involving a fake will.

Commentary: PCAOB rule could make auditors legal enforcers

The Public Company Accounting Oversight Board is proposing a rule that could significantly expand auditors' responsibilities, -More- 

'Do you have any idea of the suffering you have caused?': Ex-Post Office boss accused of 'lying throughout' at inquiry

A former top Post Office executive has denied lying "throughout" her two days of testimony at the inquiry into the Horizon IT scandal.

TikTok ban could create major opportunity

People watched the average TikTok video roughly 23,000 times more than the average Instagram Reels clip and more than double  -More- 

Cherokee culture influences its work environment

The largest tribe in the US, the Cherokee Nation, has 467,000 citizens worldwide, 45 companies and 15,000 employees, about 80 -More- 

India's forex reserves decline further after hitting record high

Experts: IPO market set to open up -- eventually

The initial public offering market hasn't gotten off to the hot start expected for 2024 as many startups and investors remain -More- 

How small business can work around the noncompete ban

The Federal Trade Commission prohibited future noncompete agreements on Tuesday, which can harm small businesses' talent rete -More- 

Neobank Mercury prepares venture into consumer banking

US-based neobank Mercury, which focuses on working with startups, says it will expand into consumer banking with its new prod -More- 

HR must balance AI with human interaction, execs say

AI will play a growing role in HR, but it will be important to stay focused on the human element of the job, HR executives em -More- 

Impact of FTC ban on noncompete agreements uncertain

Some lawyers and recruiters believe the Federal Trade Commission's ban on noncompete agreements could make valuable new talen -More- 

Reality or sales hype? How to spot AI washing

With all the hype surrounding artificial intelligence, it's important to be able to discern marketing from reality, writes fu -More- 

Michael C. Jensen, Who Helped Reshape Modern Capitalism, Dies at 84

He heralded stock options and golden parachutes as a professor at Harvard Business School, influencing a generation of Wall Street executives.

Video Game Industry Week: The Final Level

We wrap up our series on the economics of the video game industry with a triple roundup. Today, how the new ban on noncompete contracts could affect the gaming industry, whether young men are slacking off work to play games and the ever-controversial world of loot boxes. *Related ...

Alert: Biden administration indefinitely postpones rule that would have banned menthol-flavored cigarettes

Biden administration indefinitely postpones rule that would have banned menthol-flavored cigarettes.

‘Terminator’ creator James Cameron says AI could replace him — but not Schwarzenegger

Director says technology at some point will ‘write a script, direct a movie’

SF tech exec buys one of the country's most well-known, loved media companies

Global Tetrahedron, the new owner of the Onion, has a major San Francisco tie.

Financial Times reader survey

To improve your SIFMA SmartBrief experience, we are curious how you interact with specific news sources, such as the Financia

What ChatGPT can do to boost sales, tackle busywork

Aytekin Tank, founder and CEO of Jotform, writes that ChatGPT can help salespeople by analyzing data, identifying target mark -More- 

Survey: Retirement may come sooner than people expect

Some people may expect to remain in the workforce longer than they actually will, a survey by the Employee Benefit Research I -More- 

A California bill aiming to ban confidentiality agreements when negotiating legislation fails

A bill to ban the use of confidentiality agreements when negotiating potential laws in California has failed to pass. The bill by Republican Assemblymember Vince Fong failed to pass a legislative committee on Thursday. The bill was inspired by negotiations last summer around a law that requires ...

Andy Dunn on work-life balance, early team management

Founders should keep as many direct reports as possible in the early days, writes Bonobos founder Andy Dunn.  -More- 

Most drivers will pay $15 to enter busiest part of Manhattan starting June 30

Transit officials say the start date for the $15 toll most drivers will be charged to enter Manhattan’s central business district will be June 30. Under the so-called congestion pricing plan, the $15 fee will apply to most drivers who enter Manhattan south of 60th Street during daytime hours. ...

Handout funding to diminish spending on other projects

Once the government allocates substantial funds for its flagship digital wallet handout, spending on other projects will be reduced, says finance permanent secretary Lavaron Sangsnit.

US calls India among most challenging on IPR safety

The US Trade Representative has called India among the most challenging major economies on enforcement and protection of intellectual property rights (IPR) and retained it on Priority Watch along with China, Indonesia, Russia, Chile, and Venezuela. “These countries will be the subject ...

BBL reduces lending rate

Bangkok Bank (BBL), the country's largest lender by total assets, is cutting its minimum retail rate (MRR) by 25 basis points for six months, starting on April 29.

US dealmakers forced to adjust as unions flex their muscles

Workers’ groups increasingly adopt strategies used by activist hedge funds to exert pressure on companies

Dollar strength: Why developing countries are nervous

Emerging economies are wary of the strength of the US dollar. They are taking steps to ensure the soaring greenback doesn't fuel inflation and derail growth. We explain why they remain vulnerable.

RBI Issues Draft Rules For Web Aggregators Of Loan Products

The RBI specifies that the digital view should include essential details such as the name of the bank or NBFC extending the loan.

UAW strike at Daimler Truck averted at 11th hour

More than 7,000 Daimler Truck workers, most of them in North Carolina, had threatened to go on strike. The UAW says the workers will get raises of at least 25% plus cost of living allowances.

How Anglo American turned into prey

The 107-year-old South African mining group, long resistant to change, has now rejected a takeover offer from BHP

Cybercriminals using AI for attacks

Cyber-attacks will increasingly use artificial intelligence (AI) to speed up their post-exploitation activities at targeted organisations, according to Palo Alto Networks.

Oregon's Sports Bra, a pub for women's sports fans, plans national expansion as interest booms

An Oregon sports bar focusing on and showing only women's athletics has plans to expand across the country through a franchise model. The Sports Bra opened two years ago in Portland, the state's largest city. Its founder and CEO says she already has fielded hundreds of inquiries from potential ...

Is there enough student housing for the next cohort of school leavers in September?

“It’s a good time to enter the market,” Jay Ahluwalia, principal director of Dominus, said. Dominus, which previously focused on hotels and real estate, currently has two student builds in development in London. 

Thai TV drama firm seeks global soft power

Be On Cloud, a company known for producing popular Boys Love or Y Series TV dramas, aims to promote Thailand's soft power and local products on the global stage through its series.

Regulators close Philadelphia-based Republic First Bank, first US bank failure this year

Regulators have closed Republic First Bank, a regional lender operating in Pennsylvania, New Jersey and New York. The Federal Deposit Insurance Corp. said Friday it had seized the Philadelphia-based bank, which did business as Republic Bank had roughly $6 billion in assets and $4 billion ...

The Everything War — taking on Amazon’s march to monopoly

Dana Mattioli’s important book looks the winner-takes-all dynamic that built a competition-squashing behemoth

Volleyball at the Eiffel Tower: Paris begins Olympic makeover

Preparations have begun to allow breakdancers at the Place de la Concorde and archers at Les Invalides

SF exec defends 'brutal' tech trend: Lay off workers to free up cash for AI

"It's brutal," Dropbox's CEO said of laying off workers to free up cash for spending on AI.

Why stepping aside was the best business decision for Vinted’s founders

Lessons from Vinted: When is it time to let someone else take over and bring your business to the next level?

Global and Thai economies face rising risk

Three recent events have changed the world economic picture and monetary policy outlook.

The business case for creativity

In today’s corporate landscape, creativity is no longer confined to the marketing department, says David O’Hearns Keir Starmer has said we are in the midst of a “creativity crisis”, with arts subjects having been diminished and devalued for well over a decade. His recent speech said ...

Asian shares get lift from US tech results

RECAP: Asian shares rose yesterday, led by tech firms after strong earnings reports from Microsoft and Alphabet on Wall Street. But investors are becoming resigned to the idea that US interest rate cuts are probably many more months away.