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☆ Stocks making the biggest moves midday: Target, Nvidia, AppLovin, Williams-Sonoma and more
▼ + stars: | 2024-11-20 | by ( Pia Singh | In | ) www.cnbc.com time to read: +4 min

Williams-Sonoma earned $1.96 per share on $1.80 billion in revenue, while analysts surveyed by LSEG had anticipated just $1.78 in earnings per share and $1.79 billion in revenue. Target — Shares plunged more than 21% after the big-box retailer disappointed on third-quarter earnings and revenue estimates and cut its full-year guidance, just three months after raising that forecast. Target reported only a slight uptick in customer traffic as CEO Brian Cornell noted "lingering softness in discretionary categories." That is better than the $1.57 in earnings per share that analysts were expecting, per FactSet. Dolby earned 61 cents per share in its fiscal fourth quarter, higher than analysts' forecast of 45 cents per share, according to FactSet.

Persons: LSEG, Ford, Piper Sandler, Brian Cornell, Robinhood, Needham, Morgan Stanley, Keysight, Dolby, —, Alex Harring, Brian Evans, Sean Conlon, Yun Li, Michelle Fox Organizations: Sonoma, Ford, U.S, Nvidia, LSEG, —, Air Lines, Delta, Super Micro, BDO, Nasdaq, Dolby, Wall, Qualcomm Locations: Robinhood

☆ Stocks making the biggest moves premarket: Target, Dolby Labs, Nio, Netflix and more
▼ + stars: | 2024-11-20 | by ( Sean Conlon | ) www.cnbc.com time to read: +3 min

Target – Shares plunged more than 17% after the Minneapolis-based retailer missed third-quarter earnings and revenue estimates and slashed its full-year guidance, just three months after raising that forecast. Delta Air Lines – The Atanta-based carrier fell more than 1% after reiterating its outlook for the fourth quarter . Nio – U.S. shares fell more than 2% after the Chinese electric vehicle maker posted lower-than-expected revenue for the third quarter. Dolby earned 61 cents per share in its fiscal fourth quarter, above analysts' estimated 45 cents per share, according to FactSet. Powell Industries – Shares of the electrical equipment company fell 13% after new orders in the fiscal fourth quarter fell to $267 million from $356 million in the third quarter.

Persons: NBCUniversal, Brian Roberts, Goldman Sachs, Morgan Stanley, Nio, Dolby, Robinhood, Needham, Keysight, Piper Sandler, Mike Tyson, Jake Paul, —, Alex Harring, Jesse Pound, Pia Singh, Sarah Min Organizations: –, Comcast, CNBC, MSNBC, Delta Air Lines, Delta, FactSet, Dolby, Technologies, Powell, BDO, Nasdaq, Netflix Locations: Minneapolis, Nio –

☆ Stocks making the biggest moves midday: Walmart, Lowe's, Intuit, Kraft Heinz and more
▼ + stars: | 2024-11-19 | by ( Hakyung Kim | In Hakyungkim | ) www.cnbc.com time to read: +2 min

Check out the companies making headlines in midday trading: Walmart — The big-box retailer saw shares jump nearly 5% to hit a record after the retail giant topped fiscal third-quarter earnings and revenue expectations. The retailer also hiked its outlook again as it saw growth in e-commerce and improvements in sales outside of the grocery aisles. Lowe's — The home improvement retailer dropped more than 3% after saying it expects sales to decline in 2024 . Kraft Heinz — The packaged food company dipped about 1% after a Piper Sandler downgrade to neutral from overweight. Insmed — Shares rallied more than 8% after the drugmaker terminated a $500 million equity sales agreement with health-care investment bank Leerink Partners.

Persons: Young, Lowe's, Kraft Heinz —, Piper Sandler, Kraft Heinz, Robert F, Kennedy Jr, Trump, —, Wall, Symbotic, Donald Trump's, Jesse Pound, Yun Li, Sarah Min, Alex Harring, Sean Conlon, Pia Singh Organizations: Walmart, BDO, Ernst, Nasdaq, Leerink Partners, Viking Holdings, Revenue, Intuit, Washington Post, Donald Trump's Department, Government

☆ Stocks making the biggest moves premarket: Walmart, Lowe's, Super Micro Computer, BioNTech and more
▼ + stars: | 2024-11-19 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

Walmart – The retail giant gained about 4% after posting fiscal third-quarter results that surpassed Wall Street's estimates. Although the company reported a top- and bottom-line beat in the fiscal third quarter, it estimates sales will fall year over year. Super Micro Computer — The server maker soared around 26% after announcing BDO as its new auditor. Super Micro also provided a plan to the Nasdaq on how it will stay in compliance with exchange's rules. Symbotic — The automation technology company surged 28.5% after beating expectations for revenue in the fourth fiscal quarter.

Persons: Young, Symbotic, AeroVironment, Donald Trump's, Robert F, Kennedy Jr, Blackwell, Sarah Min, Samantha Subin, Hakyung Kim, Sean Conlon, Brian Evans, Michelle Fox Organizations: Walmart, BDO, Ernst, Nasdaq, Revenue, Wall, BioNTech, ISI, Department of Health, Human Services, Nvidia —, Nvidia

☆ CNBC Daily Open: Tesla helps the Nasdaq snap its losing streak
▼ + stars: | 2024-11-19 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Individual stocks sway indexesOn Monday, the S&P 500 rose 0.4% and the Nadaq Composite added 0.6%, mostly spurred higher by Tesla . Shares of Goldman Sachs and Salesforce fell, causing the Dow Jones Industrial Average to drop 0.1%. Autonomous vehicles on the agendaTesla shares jumped 5.6% after it was reported that President-elect Donald Trump's incoming administration plans to draw up a federal framework that will regulate self-driving vehicles.

Persons: Goldman Sachs, Salesforce, Donald, Howard Marks, Goldman Organizations: CNBC, Tesla, Dow Jones, China's CSI, Nasdaq, BDO, Vice, JPMorgan, UBS Locations: Asia, Pacific, Hong Kong, China China, China

☆ CNBC Daily Open: Tesla makes up for Nvidia’s dip
▼ + stars: | 2024-11-19 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Individual stocks sway indexesOn Monday, the S&P 500 rose 0.4% and the Nadaq Composite added 0.6%, mostly spurred higher by Tesla . 'Europe-first' approachEuropean countries should adopt a "Europe-first" approach to technology, especially in response to Trump's protectionist inclinations, tech CEOs told CNBC. But investors should still be wary of certain headwinds, warned the bank's Chief U.S. Equity Strategist Mike Wilson.

Persons: Goldman Sachs, Salesforce, Donald, Andy Yen, Morgan Stanley, Mike Wilson Organizations: CNBC, Tesla, Dow Jones, Nasdaq, BDO, Proton, Chief U.S, Equity Locations: Europe

☆ Super Micro shares soar 30% after company names new auditor to help keep Nasdaq listing
▼ + stars: | 2024-11-19 | by ( Kif Leswing | ) www.cnbc.com time to read: +3 min

Charles Liang, chief executive officer of Super Micro Computer Inc., during the Computex conference in Taipei, Taiwan, on Wednesday, June 5, 2024. Shares of Super Micro soared more than twentyfold over a two year period from early 2022 until their peak in March of this year. Super Micro has been one of the primary beneficiaries of the artificial intelligence boom, due to its relationship with Nvidia . On Monday, Super Micro announced that it was selling products featuring Nvidia's next-generation AI chip called Blackwell. Less than two weeks after the index changes were announced, Super Micro reached its closing high of $118.81.

Persons: Charles Liang, Ernst & Young, Nvidia's Organizations: Super, Computer Inc, Micro Computer, BDO, Nasdaq, SEC, Ernst, Deloitte, Touche, Micro, Mizuho, Nvidia, Super Micro, Dell, Hewlett Packard Enterprise, Hindenburg Research, Street, Department of Justice Locations: Taipei, Taiwan

☆ Super Micro appoints BDO as independent auditor
▼ + stars: | 2024-11-18 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSuper Micro appoints BDO as independent auditorCNBC's Bertha Coombs joins 'Fast Money' to talk Super Micro Computer appointing BDO as an independent auditor.

Persons: Bertha Coombs Organizations: BDO, Micro Computer

☆ Super Micro hires new auditor to maintain Nasdaq listing; shares pop 23%
▼ + stars: | 2024-11-18 | by ( Kif Leswing | ) www.cnbc.com time to read: +3 min

Charles Liang, chief executive officer of Super Micro Computer Inc., during the Computex conference in Taipei, Taiwan, on Wednesday, June 5, 2024. Shares of Super Micro soared more than twentyfold over a two year period from early 2022 until their peak in March of this year. Super Micro has been one of the primary beneficiaries of the artificial intelligence boom, due to its relationship with Nvidia . Super Micro was added to the S&P 500 in March, reflecting its rapidly growing business and then-soaring stock price. Less than two weeks after the index changes were announced, Super Micro reached its closing high of $118.81.

Persons: Charles Liang, it's, Ernst & Young, Nvidia's Organizations: Super, Computer Inc, BDO, Nasdaq, SEC, Ernst, Deloitte, Touche, Nvidia, Super Micro, Dell, Hewlett Packard Enterprise, Micro, Hindenburg Research, Street, Department of Justice Locations: Taipei, Taiwan

Valued at $4 billion in 2021, Cerebras is reportedly seeking to roughly double that in its IPO. The customer, G42, is backed by Microsoft , and it's entirely responsible for the $1.43 billion purchase commitment. G42 can pick up $500 million more in Cerebras shares if it commits to spend $5 billion on the company's computing clusters. The major Wall Street banks, for their part, are finding other ways to play in the burgeoning AI infrastructure market. Fitch, who said he sold out of his Nvidia stock years ago, told CNBC that the benefits outweigh the risks.

Persons: Andrew Feldman, Ramsey Cardy, Cerebras, —, David Golden, it's, prepayment, CFIUS, Mike Gallagher, Gina Raimondo, Goldman Sachs, Morgan Stanley, JPMorgan Chase, Young, There's, Peter Thiel, Eva Marie Uzcategui, there's, Thiel, Jim Fitch, Fitch, Feldman Organizations: Cerebras Systems, Nvidia, Revolution Ventures, JPMorgan Chase, Microsoft, AstraZeneca, GlaxoSmithKline, Mayo Clinic, Treasury, Foreign Investment, Reuters, Chinese Communist Party, JPMorgan, Citigroup, Barclays, BDO, KPMG, Deloitte, Ernst, Riverstone Networks, CoreWeave, Clarium Capital Management LLC, Bloomberg, Getty, Mizuho Securities, Venture, CNBC, Devices Locations: Toronto, U.S, Sunnyvale , California, Abu Dhabi, China, Miami , Florida, Los Angeles, Florida

As Tax Day approaches, there are plenty of things small business owners should keep in mind when filing taxes this year. Since business tax filing is complex, most experts recommend small business owners work with a professional tax adviser rather than trying to file on their own or even with tax-filing software. Here are things small business owners should consider as the April 15 deadline looms. There’s also a tax credit based on employer contribution, up to $1,000 annually per employee, over the plan’s first five years. Designed to help small businesses keep employees during pandemic-era shutdowns, the generous credit let businesses file amended tax returns to claim the credit.

Persons: ”, Amber Kellogg, “, it’s, Mitch Gerstein, Gerstein, There’s, Scott Orn, Orn, ” Orn, Danny Castro, Occams Organizations: Occams Advisory, Isdaner, Congress, Kruze Consulting, BDO USA, BBO, ERC, IRS Locations: Florida

Goldman Sachs lowered its rating on Estée Lauder to neutral, and its new price target calls for a slight decline going forward. Elsewhere, Daiwa raised its price target on Nvidia, which points to more than 10% upside over the next 12 months. The firm stood by its outperform rating on the chipmaker stock, but lifted its price target to $900 from $535. FLYW YTD mountain FLYW in 2024 Faucette accompanied his downgrade by lifting his price target to $30 from $27. He also lifted his price target on the stock to $40 from $30, implying upside of 24.6% from Thursday's close.

Persons: Goldman Sachs, Estée Lauder, Jefferies, Root, Daiwa, Brad Sills, Sills, — Lisa Kailai Han, Stephens, Vita Coco, Coco, Jim Salera, COCO, Lisa Gill, Gill, Louis Miscioscia, Miscioscia, Lisa Kailai Han, Piper Sandler downgrades, Piper Sandler, Mark Fitzgibbon, Fitzgibbon, Morgan Stanley downgrades Flywire, Morgan Stanley, James Faucette, Faucette, Goldman Sachs downgrades Estée Lauder, Lauder, Goldman, Yaron Kinar, Kinar, Fred Imbert Organizations: CNBC, Nvidia, Bank of America, of America, Vertex, Accenture, RSM, BDO, JPMorgan, Daiwa, Markets, Riding, AMD, Intel, York Community Bancorp, York Community, New York Community Bancorp, Travel, B2B, U.S, Jefferies Locations: York, Canada, Asia, China, Hainan, Thursday's

☆ UK manufacturing trade body cuts outlook for 2023
▼ + stars: | 2023-09-17 | by ( Suban Abdulla | ) www.reuters.com time to read: +2 min

REUTERS/Phil Noble/File Photo Acquire Licensing RightsLONDON, Sept 18 (Reuters) - Britain's main manufacturing trade body on Monday cut its forecast for the sector's growth for this year and next, citing a sharp fall in factory output and economic uncertainty. Trade body Make UK expects output to fall 0.5% in 2023, down from its June forecast for a 0.3% drop, and grow just 0.5% in 2024. "Manufacturers are seeing a very sharp slowdown in activity as the potent cocktail of rising interest rates, cost of living and slowing overseas markets bites hard," Verity Davidge, policy director at Make UK said. "But it is the scale of the fall in the indicators this quarter that comes as a surprise and highlights the extent of the slowdown on UK manufacturing." Make UK's quarterly survey said the balance for manufacturing output was the weakest performance for production since the last quarter in 2020, during the COVID-19 pandemic.

Persons: Phil Noble, Verity Davidge, Richard Austin, Suban Abdulla, Andy Bruce Organizations: Rover, REUTERS, Make, Bank of England, Bank of, BDO, Manufacturers, Thomson Locations: Solihull, Britain, July's

☆ BDO to Establish Employee Stock Ownership Plan as Part of U.S. Restructuring
▼ + stars: | 2023-08-15 | by ( Mark Maurer | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/bdo-to-establish-employee-stock-ownership-plan-as-part-of-u-s-restructuring-ddfd267f

Persons: Dow Jones

☆ India's Adani group stocks hit by first auditor quitting over Hindenburg report
▼ + stars: | 2023-08-14 | by ( ) www.reuters.com time to read: +2 min

Traffic moves past the logo of the Adani Group installed at a roundabout on the ring road in Ahmedabad, India, February 2, 2023. Adani Ports said Deloitte, which does not audit any of the other six listed Adani group companies, had all the necessary information and its reason to quit was "not convincing." "The spotlight is back on Adani Group stocks and this time the auditor has raised concerns and resigned. The flagship Adani Enterprises (ADEL.NS) dropped 5.5%, while Adani Power (ADAN.NS), Adani Energy Solutions (ADAI.NS), Adani Wilmar (ADAW.NS), Adani Green Energy (ADNA.NS) and Adani Total Gas (ADAG.NS) declined between 3% and 5%. "In the near term, the Adani group stocks will likely remain under pressure and any re-rating will happen gradually when the water settles down."

Persons: Amit Dave, Hindenburg, Gautam Adani, Prashant Tapse, Adani, Avinash Gorakshakar, Rama Venkat, Savio D'Souza Organizations: Adani, REUTERS, Deloitte, Reuters, Adani Ports, Mehta, Adani Enterprises, Adani Energy Solutions, Energy, Profitmart Securities, Associates, BDO International, Thomson Locations: Ahmedabad, India, BENGALURU, Bengaluru

The Deloitte company logo is seen at their office in Gurugram, India, June 13, 2023. The auditor's resignation has brought fresh scrutiny of the financial management at Adani Group, led by Indian billionaire Gautam Adani. "The Audit Committee (of Adani Ports) was of the view that the grounds advanced by Deloitte for resignation as Statutory Auditor were not convincing or sufficient to warrant such a move," it said. Adani Ports has named MSKA & Associates, an independent member firm of BDO International, as its new auditor, it said in the statement. Deloitte in May first pointed to certain transactions flagged by Hindenburg in its report and gave only a qualified opinion related to Adani Ports, indicating concerns by a company's auditor.

Persons: Anushree, Gautam Adani, Hindenburg, Aditya Kalra, Ros Russell Organizations: Deloitte, REUTERS, U.S, Adani Group, GQG Partners, Sanghi Industries, Associates, BDO International, Thomson Locations: Gurugram, India, Adani Ports, Australia, New Delhi

☆ UK hiring falls at fastest pace in over three years, wage growth slows
▼ + stars: | 2023-08-06 | by ( Suban Abdulla | ) www.reuters.com time to read: +2 min

Workers travel through London Bridge rail and underground station during the morning rush hour in London, Britain, September 8, 2021. A gauge of permanent staff hiring by the Recruitment and Employment Confederation and accountants KPMG fell to 42.4, the lowest since the 34.3 in June 2020 when the country was in lockdown due to the COVID-19 pandemic. While starting pay for new permanent staff rose sharply by pre-pandemic standards, the rate of wage growth was the lowest since April 2021, REC said. Official data showed unemployment rose to 4% in the three months to May, a 16-month high, although annual wage growth remained at a record high of 7.3% in cash terms. REC said the availability of both temporary and permanent workers to fill jobs hit the highest since December 2020.

Persons: Toby Melville, Neil Carberry, Claire Warnes, Suban Abdulla, David Milliken Organizations: REUTERS, KPMG, REC, Bank of England, BDO, Thomson Locations: London, Britain

Stablecoins are a type of cryptocurrency which aim to keep a constant value and are usually backed by traditional assets such as dollars. Tether's reserves report, signed off by accountants BDO Italia, says Tether's assets rose to $86.5 billion in the three months to June 30, 2023, up 5.7% from the previous quarter and a record high, according to previous reports on its website. Tether is a key cog in global digital asset trading, with many crypto-to-crypto trades denominated in the stablecoin. U.S. regulators have warned banks that stablecoin reserves could be subject to rapid outflows, for example if holders rushed to exchange such tokens back into traditional currency. Tether's holdings of U.S. Treasury Bills hit $55.8 billion, up 5.2% from the end of March, while non-U.S. Treasury Bills rose to $62.9 million, up more than 30% from the previous quarter, the report said.

Persons: Elizabeth Howcroft, Christina Fincher Organizations: BDO Italia, Treasury Bills, U.S . Treasury Bills, New York Attorney, Thomson Locations: . U.S, U.S

☆ UK firms most upbeat in 10 months despite economic headwinds, survey shows
▼ + stars: | 2023-07-09 | by ( ) www.reuters.com time to read: +1 min

LONDON, July 9 (Reuters) - British companies were the most upbeat about their trading prospects in 10 months in June and their hiring plans increased again but rising interest rates could prompt consumers to rein in spending, according to a survey published on Sunday. Trade body Make UK and accountants BDO said their measure of business optimism hit its highest since August 2022, helped by the survey's gauge of inflation pressure dropping to its lowest in nearly two years. The survey's employment index posted its fifth consecutive monthly increase with rises in the number of self-employed and part-time workers, despite a slowdown in output growth with manufacturers seeing the worst output reading since May 2020. The Bank of England, which is trying to curb the highest inflation rate among the world's big rich countries, is worried about long-term price pressures in the labour market and it is widely expected to continue raising interest rates. Reporting by Suban Abdulla Editing by William SchombergOur Standards: The Thomson Reuters Trust Principles.

Persons: Suban Abdulla, William Schomberg Organizations: ., BDO, BDO LLP, The Bank of England, Thomson

Reliance Retail includes Ambani's core retail businesses, including digital and brick-and-mortar stores. It is fully owned by Reliance Retail Ventures, which also houses other retail operations such as international partnerships and the billionaire's consumer goods business. In 2020, Reliance Retail Ventures raised 472.65 billion Indian rupees ($5.72 billion) by selling a 10.09% stake, valuing it at roughly $57 billion based on current exchange rates. EY valued Reliance Retail at 884.03 rupees per share, while BDO valued it at 849.08 rupees, the source said. Reliance Retail has in recent years partnered with a slew of global brands to launch and expand their presence in India.

Persons: Mukesh Ambani, valuers, Ambani, Tiffany, Aditya Kalra, Sriram, Chris Thomas, Savio D'Souza, Louise Heavens, Mark Potter Organizations: Reliance, Reuters, BDO, EY, Reliance Retail Ventures, KKR, Saudi Public Investment Fund, General Atlantic, Reliance Retail, Burberry, Thomson Locations: DELHI, India, New Delhi, Mumbai, Bengaluru

☆ Amazon HQ2 is not matching the original hype. The economy is partly to blame
▼ + stars: | 2023-06-20 | by ( Scott Cohn | ) www.cnbc.com time to read: +2 min

When Amazon first announced plans for a second corporate headquarters in 2017, it set off an epic bidding war. Virginia beat 237 competitors to win the project, and when it finally opened last week in the Crystal City section of Arlington, Virginia Gov. "We have high expectations because they are well placed," he told Amazon employees, "on an organization that delivers on promises made." But those promises from Amazon have changed dramatically from the original vision, which called for a $5 billion complex with 50,000 employees. Then, when local opposition blew up in New York, Amazon decided to ditch New York, put 25,000 employees in Arlington, and spread the rest among its other North American hubs.

Persons: Glenn Youngkin, there's, Holly Sullivan, Tom Stringer Organizations: Amazon, Arlington , Virginia Gov, Companies, BDO Locations: Virginia, Crystal, Arlington , Virginia, New York, States, Arlington, Queens , New York

☆ UK manufacturers lift 2023 outlook, boosted by aircraft and electronics
▼ + stars: | 2023-06-18 | by ( David Milliken | ) www.reuters.com time to read: +2 min

LONDON, June 19 (Reuters) - Britain's main manufacturing trade body Make UK revised up its outlook for this year on Monday thanks to strong demand for aircraft and electronics, but said it still expects production to fall over the year as a whole. Make UK said it expected factory output to fall 0.3% this year compared with a 3.3% contraction expected three months earlier, and kept unchanged its forecast for 0.8% growth in 2024. "Manufacturers are seeing a gradually improving picture, but the word 'gradually' is doing a lot of heavy lifting," said James Brougham, senior economist at Make UK. Aerospace had been boosted by a resumption of travel and aircraft orders after the COVID-19 pandemic, while demand for electronics partly reflected businesses' desire to counter labour shortages. Supply-chain pressures remain an issue for medium-sized firms, said Richard Austin, head of manufacturing at accountants BDO, who sponsored the survey of Make UK members.

Persons: James Brougham, Richard Austin, Austin, David Milliken, Jan Harvey Organizations: Make, Manufacturers, Aerospace, BDO, Thomson Locations: Russia, Ukraine, April's

☆ One of Revolut's long-term investors just slashed the value of its stake in the fintech by 40%
▼ + stars: | 2023-06-16 | by ( Callum Burroughs | ) www.businessinsider.com time to read: +3 min

A second investor in London-based Revolut has slashed its valuation of the fintech this year. Molten Ventures, a long-term backer, has reduced the value of its position in the company by 40%. Revolut is the latest fintech star to take a valuation haircut, following on from the likes of Stripe and Klarna. A second Revolut investor has slashed its valuation of the London-based fintech company as the price correction of high-value private startups continues. Molten cut the value of its stake in Revolut from £91.3 million ($116.8 million) last year to £54.5 million ($69.7 million) as of the end of March.

Persons: Revolut, SoftBank, Draper, Martin Davis, Davis Organizations: Molten Ventures, Tiger Global, BDO, Financial, Financial Times, City Locations: London, Revolut, Europe

☆ Nearly half of UK firms to defer investment due to tax rises, survey finds
▼ + stars: | 2023-05-21 | by ( David Milliken | ) www.reuters.com time to read: +2 min

LONDON, May 22 (Reuters) - Almost half of medium-sized British companies plan to delay investment plans due to last month's rise in corporation tax, a survey published on Monday found. Britain's headline rate of corporation tax rose to 25% in April from 19% the year before, under the enactment of a policy announced in March 2021. "The recent rise in the headline corporation tax rate will dampen current business investment plans although the positive reaction to the new full expensing capital allowances regime suggests this may only be a short-term effect," said Paul Falvey, a tax partner at BDO. The BDO survey was based on responses from 512 companies polled between March 30 and April 16. ($1 = 0.7923 pounds)Reporting by David Milliken; editing by Barbara LewisOur Standards: The Thomson Reuters Trust Principles.

☆ Revolut's CFO leaves the digital bank after two years, citing personal reasons
▼ + stars: | 2023-05-11 | by ( Ryan Browne | ) www.cnbc.com time to read: +1 min

LONDON — Revolut's chief financial officer, Mikko Salovaara, is leaving the digital bank after two years, citing personal reasons. A company spokesperson told CNBC that Salovaara resigned and has not been fired. He said it would be inappropriate to divulge the personal reasons that have led to his departure. The Revolut spokesperson said Salovaara's decision was unrelated to concerns flagged by auditor BDO about the company's financial accounts. In its latest annual report, Revolut posted its first-ever full year of profitability, posting a pretax profit of £59.1 million on revenue of £636.2 million.

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