European leaders warned Donald Trump not to meddle with the continent’s borders on Wednesday, a day after the president-elect refused to rule out taking Greenland by force.
Author: WTX Business Team
New look to shut stores as Labour’s Budget bites Fashion retailer New Look is set to accelerate store closures and “Chicken King” Ranjit Boparan is pushing supermarkets to swallow big cost increases, as large employers across different sectors grapple with the fallout from Labour’s tax-raising budget. About a quarter of New Look’s 364 UK stores are said to be at risk of closure when leases expire, raising the prospect of significant job losses across its workforce of about 8,000 staff. https://www.thetimes.com/business-money/companies/article/new-look-to-speed-up-store-closures-as-budget-fallout-spreads-057pcj7fx
Wall Street set for listings rush as private equity sheds holdings Wall Street bankers are gearing up for a revival in initial public offerings as private equity groups seek to tap buoyant US equities markets to offload some of their flagship holdings. Several private equity-backed groups have already filed paperwork with securities regulators for IPOs, including medical devices company Medline and software maker Genesys. https://www.ft.com/content/5dcf3d4e-8e16-470b-b33d-fc73d3043f58
The FT names Donald Trump their Person Of The Year – “after the most dramatic comeback in modern US history, the president-elect promises a new era of sweeping deregulation and a profound shift to the cultural right.”
Bank of England set to hold interest rates after inflation jump The Bank of England is poised to leave interest rates on hold this week after a jump in inflation and uncertainty over the Budget’s economic impact. Policymakers are expected to keep rates at 4.75 per cent at their next meeting on Thursday after making cuts in August and November. Although inflation fell below the BoE’s two per cent target in September, the latest official figures showed it jumped back up to 2.3 per cent in October. The reading marked the sharpest rise in two years and was higher than…
UK companies cut jobs at fastest rate in nearly 4 years The private sector cut jobs at the fastest rate for nearly 4 years in December as firms respond to new tax rules announced in the Budget. The latest S&P Global Flash UK Purchasing Managers’ Index (PMI) found that while the headline figure for business confidence was unchanged from November, thanks to a marginal increase in business activity, other areas of the economy saw a sharp drop-off. Manufacturing output and PMI both fell to an 11-month low, at 45.7 (from 48.3) and 47.3 (from 48) respectively, while companies reported the…
London Stock Exchange suffers biggest exodus in 15 years as former boss sounds alarm The former head of the London Stock Exchange Group has warned its flagship bourse has become “deeply uncompetitive” amid its biggest exodus since the financial crisis. Xavier Rolet, who ran LSEG between 2009 and 2017, said lacklustre trading in London created a “real threat” of more UK firms ditching their listings in the capital for better returns overseas. His comments come after FTSE 100 equipment rental firm Ashtead confirmed plans to move its main listing to the US, following in the footsteps of several other big…
Bitcoin soared to an all-time high, briefly surpassing $106,000, fueled by optimism over Donald Trump’s pro-cryptocurrency stance ahead of his return to the White House. The cryptocurrency has gained more than 50% since Trump’s election victory on November 5.
Dinosaur bones listed on the stock exchange: “Investing in fossils pays like gold” New York — After dinosaur bones fetched millions of dollars at recent auctions, perhaps it was inevitable: a private company has announced a date on which it will proceed with a public offering to allow investors to buy shares of a stegosaurus fossil. Dinosaur bones listed on the stock exchange: “Investing in fossils pays like gold” https://www.repubblica.it/cronaca/2024/12/15/news/dinosauri_vendita_quote_musei-423887382/?rss
UK’s economy shrinks unexpectedly by 0.1% in October Britain’s economy shrank by 0.1% in October, underlining the scale of Labour’s challenge to get the economy growing. Figures from the Office for National Statistics showed the unexpected fall in GDP was driven by declines in construction and production, while the dominant services sector stagnated. Economists, polled by Reuters, had expected the economy to grow by 0.1%. It follows a decline of 0.1% in September and sluggish growth of 0.1% in the third quarter of the year, according to figures last month. https://www.theguardian.com/business/2024/dec/13/uk-economy-october-gdp
The outage began around 18:00 GMT, according to the tracking site Downdetector, and affected users in the UK, Europe, Asia, Australia, South America, and the US. Reports indicated over 18,000 issues with WhatsApp and more than 22,000 with Facebook.
