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Tech News

X now worth only 25% of what Elon Musk paid for it

A disclosure from an investment company with equity in the company indicates that X's value has significantly declined since 2022.

Economy

Greece kicks off sale of stake in National Bank for as much as €727m

The move marks the end of the privatisation of Greek lenders after debt crisis bailouts.

Business

Rolls-Royce engine issue forces Cathay Pacific to ground some aircraft

The airline industry has already seen some turbulence this year, following Boeing's 737-Max jet seeing a mid-air door panel blowout on an Alaska Airlines flight earlier in January.

Markets

Weekly markets recap: European stocks rise as Dax hits a fresh high

The European stock markets maintained their upward trajectory as cooling inflation bolstered hopes for more significant rate cuts by the European Central Bank. The DAX reached a fresh high following Germany’s unexpected drop in consumer prices for August.

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Business

Turkish firm buys company formerly owned by fallen business tycoon

Sabanci Holdings has bought a majority stake in Mannok, once the prized firm of Seán Quinn - and since a victim of several attacks and sabotage attempts.

Business

Burberry set for relegation from FTSE100 along with EasyJet

Burberry has been facing challenges such as changes in strategy and recently suspended its dividend. EasyJet has been dealing with the fallout of price wars because of last-minute bookings by passengers.

Business

Deutsche Bank settles 60% of claims in long-running legal dispute

The German lender has been dealing with disgruntled shareholders since its acquisition of Postbank fourteen years ago. Now, it claims to have made "significant progress".

Business

German energy firms gridlocked after state U-turn on buy-in plans

The state has abandoned plans to buy part of TenneT, which operates Germany's biggest power grid network. The U-turn has spooked energy firms EnBW and RWE.

Business

Vaccine makers see share prices spike as concerns grow over Mpox

The share prices of a number of healthcare and pharmaceutical companies worldwide rose on Friday as the World Health Organisation (WHO) declared a rapidly-spreading African Mpox outbreak a public health emergency.

Business

Ed Sheeran shows support for football club by acquiring minority stake

The singer, who was born in West Yorkshire but grew up in Framlingham in Suffolk, has been a longtime supporter of Ipswich Town. He says that the opportunity is "any football fan's dream".

Business

Aston Martin on track to raise production despite widening losses

Gaydon-based Aston Martin saw losses mount in its first half year. Despite that, the company says it will increase production in the second half of 2024.

Markets

Microsoft and CrowdStrike shares drop after IT outage savages systems

Shares in CrowdStrike and Microsoft were in the red on Friday after a global IT outage hit companies and industries worldwide.

Business

Tiger Global set to take charge of Revolut's million-dollar share sale

Revolut saw record profit before tax for the full year 2023, further cementing its position as Britain's most valuable fintech.

Business

UK's FCA shakes up listing regulations to attract more companies

The move comes as the London Stock Exchange has been struggling for several months to retain companies looking to leave the UK and list in more welcoming markets such as the US.

Business

Carlsberg taps into Gen-Z's sweet tooth with Britvic buy

The Danish brewer's offer to build a UK beverage powerhouse has finally been accepted after two failed bids.

Markets

Birkenstock's key shareholder to offload stock despite rosy forecast

US private equity firm L Catterton will still hold the biggest slice of the Birkenstock pie.

Business

Revolut in talks to sell close to €500 million of existing shares

The UK fintech firm, already one of Europe's most-valuable startups, is seeking to shore up shareholder liquidity without yet launching an IPO.

Business

Raspberry Pi shares rise by more than a third on London market debut

Although Raspberry Pi has seen impressive interest in its IPO so far, with its share price soaring just after the launch, the dangers of a post-IPO plunge, like Deliveroo, remain a risk.

Markets

London Stock Exchange urged to do more to hold onto retail traders

The UK stock market needs to improve investor communication and engagement in order to retain its individual traders, according to a report from online trade and investor provider CMC Markets.

Markets

Nvidia's market valuation tastier than Apple's ahead of share split

Nvidia overtakes Apple in market cap, topping $3 trillion one day before the 10-for-1 share split commencement.