If you were to describe the technology sector in 2023, a classic 1960s movie set in 19th-century Mexico would probably represent an accurate analogy. ‘The Magnificent Seven’ is how Michael Hartnett, Bank of America’s chief investment strategist, described the crème-de-la-crème of US tech companies. Collectively, Apple, Amazon, Alphabet, Meta, Microsoft, Nvidia, and Tesla have not … Read more
By City & Finance Reporter Updated: 22:04 GMT, 22 December 2023 It’s been a gripping year, with a banking crisis, the departure of two heavyweight FTSE 100 chief executives and the sight of private equity sharks sinking their teeth into our best loved firms. But there were also signs of stability, with cooling inflation sparking … Read more
Brent Crude oil futures were 0.9% higher at $80.32 on Friday morning trading Houthi rebels claim to have attacked ships they believe are heading to Israel Many prominent shipowners have diverted journeys away from the Red Sea By Harry Wise Updated: 14:43 GMT, 22 December 2023 Oil prices tipped above $80 per barrel on Friday … Read more
By Live Commentary Updated: 08:43 GMT, 22 December 2023 The UK economy shrank by 0.1 per cent in the third quarter, revised down from previous estimates of flat growth for the period, fresh data from the Office for National Statistics shows. The FTSE 100 is down 0.1 per cent in early trading. Read the Friday … Read more
Ask the average founder or chief executive what gets them out of bed, and most mumble a mistruth about making a difference, while quietly pocketing a seven-figure salary. Not Charlie Mullins. ‘Money motivates me,’ declares the spiky-haired entrepreneur who sold Pimlico Plumbers to US home services giant Neighborly in 2021 for £140million. ‘It bought this,’ … Read more
NewGAMe intends to increase its GAM stake from 17.5% to ‘no less than’ 27.1% London-listed Liontrust Asset Management failed to buy GAM earlier this year By Harry Wise Updated: 15:47 GMT, 21 December 2023 An investment vehicle backed by billionaire Xavier Niel will become the largest shareholder in GAM after receiving approval from Irish authorities. … Read more
By Emily Hawkins Updated: 22:01 GMT, 20 December 2023 The world’s largest offshore wind farm looks set to be built off the coast of Britain. In a sorely needed boost for the green energy industry, Danish giant Orsted signed off its financial plan for the Hornsea 3 project in the North Sea. It will have … Read more
By Live Commentary Updated: 11:59 GMT, 20 December 2023 Consumer price inflation fell to 3.9 per cent in November, down from 4.6 per cent in October and lower than economist forecasts of 4.4 per cent, fresh data from the Office for National Statistics shows. The FTSE 100 is up 0.6 per cent in afternoon trading. … Read more
By Live Commentary Updated: 17:12 GMT, 19 December 2023 The FTSE 100 closed up 23.55 points at 7638.03. Among the companies with reports and trading updates today are De La Rue, Superdry and Hipgnosis Songs Fund. Read the Tuesday 19 December Business Live blog below. > If you are using our app or a third-party … Read more
Games Workshop and Amazon made an ‘agreement in principle’ last year Peel Hunt analysts: Amazon deal is a ‘game changer’ for Games Workshop Games Workshop also told investors it had not changed its annual forecasts By Harry Wise Updated: 10:36 GMT, 18 December 2023 Games Workshop has struck a deal with Amazon to develop Warhammer … Read more
