UK
Taylor Swift, one of the most influential pop culture icons of the century, has brought her record-breaking Eras Tour to Europe, kicking off with a four-night stint in Paris. This tour, which began in March 2023, has already made history by being the first to generate over $1 billion in ticket sales. Analysts predict this figure will more than double by the tour’s conclusion in Vancouver this December. Taylor Swift’s economic impact on local economiesSwift’s arrival in Europe is more than just a musical event; it’s a significant economic catalyst. According to research group QuestionPro, Swift...
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A UK-based firm, Wayve, specializing in artificial intelligence (AI) technology for self-driving cars, has raised a groundbreaking $1.05 billion (£840 million) in what marks the largest investment in a European AI company to date. SoftBank, Microsoft and Nvidia back WayveThe funding round, led by investment firm SoftBank, saw significant contributions from Microsoft and Nvidia, underscoring strong industry confidence in Wayve’s innovative approach to autonomous vehicle technology. This substantial investment aims to propel the development and deployment of AI-driven self-driving cars, signalin...
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Washington (AFP) - The United States, Britain and Australia unveiled sanctions Tuesday against the leader of the Russian ransomware outfit LockBit, which they accuse of extorting billions of dollars from thousands of victims. The measures announced Tuesday are the latest in a long-running legal and technological battle against LockBit by law enforcement agencies around the world aimed at disrupting its activities. The US Treasury Department said it was designating Dmitry Khoroshev for developing and distributing the software, which has been used against a number of American targets -- includ...
AFP
IAG (LON: IAG) share price is doing well as investors wait for the company’s financial results set for May 10th. It soared to a high of 181.20p on Monday, its highest swing since November 2021, making it one of the top-performing airline companies. It has jumped by almost 100% from its lowest point in 2022. International Consolidating Airline earningsThis will be an important week for IAG, the parent company of British Airways and Aer Lingus as it publishes its Q1 earnings report. These numbers will provide more information about its performance as the travel industry growth continues. IAG and...
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Heineken has announced a substantial £39 million investment plan to refurbish and reopen numerous pubs across the UK under its Star Pubs & Bars chain, signaling a robust revival in the sector and the creation of more than 1,000 new jobs. Heineken’s refurbishments to revive local pubsAs part of its commitment to rejuvenate its network, Heineken plans to renovate over 600 pubs, approximately a quarter of its 2,400-strong chain. This decision aligns with changing consumer behaviors, notably the decrease in city-center commutes, as more people work from home and look to minimize travel expenses. T...
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Energy conglomerate Shell is currently negotiating the sale of its extensive gas station network in Malaysia to Saudi Arabia’s state-owned oil company, Saudi Aramco, in a deal that industry insiders estimate could reach $1 billion, Reuters reported. Strategic divestiture amid global refocusingShell, headquartered in London, operates around 950 fuel stations in Malaysia, making it the country’s second-largest network after the state-owned Petronas. The potential sale, which began discussions in late 2023, is part of Shell’s broader strategy under CEO Wael Sawan to streamline operations and conc...
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During the latest G20 summit, India played a major role in pushing for global rules governing organisations over crypto assets. It noted that virtual currencies were transnational and therefore needed international cooperation to be well regulated and their wider macro-financial effects managed. Global efforts in crypto regulationMiCA regulation, set to be enforced in the European Union next year, may transform the crypto-asset landscape entirely. The Dubai International Financial Centre (DIFC), one of the leading financial hubs in the MEASA region, has introduced Digital Assets Law – the worl...
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Shell plc, the British multinational oil and gas company, just released its quarterly earnings today for the Q1 of FY24. The Q1 adjusted earnings were of $7.7 billion, reflecting a strong operational performance across the business. Shell announced the commencing a $3.5 billion share buyback programme, which is expected to be completed by the second quarter. The 2024 cash capex outlook of $22 – 25 billion remains unchanged. CFFO of $13.3 billion for this quarter includes a working capital outflow of $2.8 billion, given higher crude and oil products prices towards the end of Q1. CFFO reflects t...
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Aston Martin Lagonda’s (LON: AML) share price collapsed to a low of 128p on Wednesday, its lowest level since November 2022. The stock crashed by over 65% from its highest point in 2023. It has lagged behind other UK companies now that the FTSE 100 index has soared to a record high. Aston Martin’s woes are continuingAston Martin, the biggest luxury vehicle company in the UK, is facing substantial challenges and it is unclear whether it will survive. The company published an extremely weak financial statement. Its wholesale volumes dropped by 26% in the first quarter to 945. Unit sales dropped ...
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Energy ministers representing the Group of Seven (G7) major democracies are set to sign an agreement aimed at ending the use of coal in electricity production by 2023 and 2035. However, two diplomatic sources say Germany and Japan may be exempt from this agreement. Outlines of the agreementSources state that G7 nations promise to close their coal-fired plants by the early 2030s, however, these countries could also choose to have a deadline aligned with maintaining the global temperature increase below 1.5°C. This would give Berlin and Tokyo flexibility, given that their coal-fired plants gener...
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