Business news
-
BP’s hiking of fossil fuel production in the face of overwhelming evidence it will worsen the rapidly changing climate was done for one reason – to increase shareholder value. After the announcement, however, its share price was down 1% at points, making it one of the worst performers among the most valuable London Stock Exchange listed…
-
Mattel could soon raise the prices of toys such as Barbie and Hot Wheels in response to new tariffs imposed by President Donald Trump, executives said Tuesday. The toy giant, which manufactures about 40% of its toys in China and less than 10% in Mexico, told analysts it will look to move around its supply chain to mitigate the effect…
-
Mulberry, the struggling UK luxury brand, has rejected a proposed takeover bid by Mike Ashley’s Frasers Group. Frasers, which is majority owned by the tycoon and best-known for its Sports Direct brand, made an offer on Monday that valued Mulberry at £83m. The company is the second largest shareholder in Mulberry, with a 37% holding. It claimed…
-
U.S. stocks ended mixed on Wednesday, as the Federal Reserve maintained its key interest rate as expected and indicated that only one cut is likely before the year’s end. The Dow Jones Industrial Average fell by 35.21 points, or 0.09 percent, to 38,712.21. The S&P 500 added 45.71 points, or 0.85 percent, to 5,421.03. The…
-
Cryptocurrencies such as Bitcoin and Ethereum and global markets were sent into a tailspin following the emergence of the fast-spreading Omicron COVID-19 variant. But one relatively new crypto named Omicron has seen a massive spike. Bn Monday, the token OMIC surged by 945 per cent since Saturday to reach an all-time high of $689 (€610).…
-
Shares were mostly higher in Asia on Wednesday after U.S. stocks tumbled overnight as a virus outbreak in China rattled global markets. Japan’s Nikkei 225 index climbed 0.7% to 24,031.35 and the Kospi in South Korea surged 1.2% to 2,267.25. In Hong Kong, the Hang Seng jumped 1.3% to 28,355.10. The S&P ASX/200 in Sydney…
You must be logged in to post a comment.