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☆ Buckingham Palace's gates are boarded up after someone crashed a car into them, police say
▼ + stars: | 2024-03-11 | by ( Matthew Loh | ) www.businessinsider.com time to read: +2 min

London police said a car crashed into the gates of Buckingham Palace on Saturday morning. AdvertisementAn unnamed man was arrested early Saturday morning after a car crashed into the gates of Buckingham Palace, local police said. He was assessed and sectioned under the UK's Mental Health Act, police added. Photos of Buckingham Palace on Sunday show its gates boarded up with scaffolding and wooden planks, while waist-high metal fencing shielded the entrance. People walk past a set of boarded up gates to Buckingham Palace in London on March 10, 2024.

Persons: —, JUSTIN TALLIS, SWNS, Kate Middleton, Middleton Organizations: London, Mental, Service, Metropolitan, Getty Locations: Buckingham, Buckingham Palace, London, Kensington

☆ News agencies retract image of Princess of Wales and children on manipulation concerns
▼ + stars: | 2024-03-11 | by ( Jenni Reid | ) www.cnbc.com time to read: +2 min

Catherine, Princess of Wales, Princess Charlotte of Wales, Prince George of Wales, Prince William, Prince of Wales, Prince Louis of Wales and Mia Tindall attend Christmas Morning Service at Sandringham Church on December 25, 2023 in Sandringham, Norfolk. International news agencies withdrew a picture of the U.K.'s Princess of Wales and her three children, saying it failed to meet their editorial standards. The image of Kate, Princess of Wales, surrounded by her children Prince George, Princess Charlotte and Prince Louis, was issued earlier on Sunday by Kensington Palace, the name of the family's offices. As of Monday morning, the image remained posted to the Prince and Princess of Wales's account on social platform X. Kensington Palace said the photograph was taken by Prince William at the family's home in Windsor earlier in the week.

Persons: Catherine, Princess of Wales, Princess Charlotte of Wales, Prince George of Wales, Prince William , Prince of Wales, Prince Louis of Wales, Mia Tindall, Wales, Kate, Princess of, Prince George , Princess Charlotte, Prince Louis, Princess Charlotte's cardigan, Prince, Prince William Organizations: Morning Service, Sandringham Church, International, Kensington Palace, Associated Press, Getty, Reuters, London Locations: Sandringham , Norfolk, Princess of Wales, AFP, Kensington, Windsor

☆ Why Day Flight to Europe Is Better Transatlantic Option Over Red-Eye
▼ + stars: | 2024-03-11 | by ( Taylor Rains | ) www.businessinsider.com time to read: +4 min

I recently took a day flight from New York to London to see if it helps jet lag. However, until last week, I had exclusively taken overnight flights — known as red-eye flights — when flying eastbound across the Atlantic. They depart in the morning in the US and land in the evening on the same day in Europe. Curious about how the daytime flight compared to a red-eye, I specifically booked a morning departure for my recent trip from New York to London. Because I was up at 4 a.m. in New York to catch the morning flight, I figured I'd be tired enough to sleep.

Persons: —, I've, ., Taylor Rains, John F Organizations: Service, American Airlines, British Airways, Delta Air Lines, JetBlue Airways, Norse Atlantic Airways, United Airlines, Virgin Atlantic Airways, British Airways Boeing, New, Kennedy International Airport, London Heathrow, Google, JFK, Heathrow Locations: New York, London, New York City, Europe

☆ Gold prices could keep climbing — but analysts expect silver to steal the show before long
▼ + stars: | 2024-03-11 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +1 min

A record-breaking rally for gold may yet continue, particularly as investors position for interest rate cuts — but analysts say silver appears well placed to outshine the yellow metal in the second half of the year. Spot gold prices on Monday edged higher to $2,178 per ounce, after settling at their highest since 1979 on Thursday last week. Spot silver prices, meanwhile, were last seen up 0.2% at $24.36 per ounce at 6:24 a.m. London time (1:24 a.m. Precious metal prices have pushed higher in recent weeks amid growing expectations of U.S. interest rate cuts. Gold, which is typically considered a "safe haven" asset at times of financial uncertainty, has rallied despite high interest rates and a relatively strong U.S. dollar.

Persons: Jerome Powell, Marcus Garvey, CNBC's Organizations: Macquarie Locations: London

☆ Novo Nordisk market cap surpasses Tesla on new obesity pill trial data
▼ + stars: | 2024-03-08 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +2 min

Liselotte Sabroe | AFP | Getty ImagesWegovy obesity drug maker Novo Nordisk surpassed Tesla in market value, after fresh early trial data showed positive results for its new experimental weight loss pill. Novo Nordisk is now the 12th most valuable company in the world, with a market cap of $604 billion — ahead of Tesla's $569 billion, according to FactSet data. 8The uptick of Thursday extends a months-long rally for Novo Nordisk, as excitement grows around weight loss drugs and their potential wider applications. The early amycretin data marks a fresh milestone for Novo Nordisk, potentially offering a more effective and less intrusive alternative to its already widely successful injection-based Wegovy and Ozempic drugs. Wegovy showed weight loss of 6% in a 12-week trial, while Ozempic is a diabetes treatment.

Persons: Liselotte Sabroe, Eli Lilly, amycretin, Martin Holst Lange, Lange Organizations: AFP, Getty, Novo Nordisk, Tesla, Microsoft Corp MSFT, Apple Inc, AAPL, NVIDIA Corp NVDA Technology, Saudi Aramco, SA Energy, Inc, AMZN Consumer, GOOGL, Berkshire Hathaway BRK.B, Company LLY Healthcare, Broadcom Inc, AVGO Technology, Taiwan Semiconductor TSM, Novo Nordisk NVO, Finance, JPMorgan Chase JPM, Reuters Locations: Bagsvaerd, Copenhagen, Denmark, Danish, London, Saudi, Mar, Europe

☆ Agtech valuations were crushed in 2023. But food security concerns will keep it on the agenda.
▼ + stars: | 2024-03-05 | by ( Tasmin Lockwood | ) www.businessinsider.com time to read: +4 min

The Agtech Unicorn Index, which tracks venture-backed startups in the sector worth over $1 billion, recorded a 20% decline in 2023, according to the Morningstar Unicorn Market Monitor Q4 2023 update. Advertisement"There are more software companies that have sprouted over the past decade, but it traditionally requires fairly technical knowledge about plants and biology." London’s vertical farming unicorn InFarm also struggled and shuttered in Europe . Indeed, PitchBook’s Frederick anticipates agtech will outperform the broader VC ecosystem in the near term due to issues around food security, per PitchBook’s Agtech Q4 2023 report. More broadly, the number of companies hitting unicorn status was at its lowest level since 2017, with 81 new unicorns entering the Morningstar PitchBook Global Unicorn Index in 2023.

Persons: —, Alex Frederick, Frederick, Po Bronson, Bronson, PitchBook’s Frederick, agtech, ” Frederick Organizations: Service, Business, Morningstar, US, Farmers Business Network Locations: cybersecurity, Europe, Ukraine, India, California, Spain

☆ Britain to lead 2024 European real estate boom as international buyers eye opportunities, research says
▼ + stars: | 2024-03-01 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +3 min

Richard Newstead | Moment | Getty ImagesThe U.K. looks poised to lead a European real estate resurgence this year as international investors return capital to the region's strained property market. U.S., Israeli, Japanese and Taiwanese investors are set to lead that charge, spearheading a 20% rebound in real estate investment activity in 2024 as they pump cash into Britain, Germany, Spain and the Netherlands, according to the research. European real estate revivalBritain ranked as the top European destination for cross-border investment in CBRE's 2024 European Investor Intentions Survey, with investors pointing to its discounted rates and high return potential. Busà Photography | Moment | Getty ImagesIt follows a tough year for real estate in 2023, as higher interest rates pushed up borrowing costs and weighed on investor sentiment. Global cross-border real estate investment totalled 196.3 billion euros ($212.9 billion) over the year, down 40% on the five-year average, according to Real Capital Analytics data cited by Savills.

Persons: Richard Newstead, Rasheed Hassan, Savills, Chris Brett, Knight Frank Organizations: CNBC, European Central Bank, Bank of England Locations: Kings Cross, London, European, Britain, Germany, Spain, Netherlands, Poland, Paris, Madrid, Amsterdam, Berlin, Europe, East, Africa, Americas, Asia Pacific, France

☆ European markets set for gains ahead of euro zone inflation data
▼ + stars: | 2024-03-01 | by ( Elliot Smith | ) www.cnbc.com time to read: +1 min

A TV presenter gets ready for the daily reporting from the floor of the German share price index DAX at the stock exchange in Frankfurt, Germany, November 15, 2023. LONDON — European markets are set to open higher on Friday to start the new trading month after a winning February, with euro zone inflation data due mid-morning. The European stock index notched an all-time high last month, powered by the 11 GRANOLAS large-cap stocks that made up half of the gains across the entire Stoxx 600. Focus will turn Friday to February's flash euro zone inflation reading, expected at 10 a.m. London time, with economists in a Reuters poll predicting the consumer price index rose 2.5% year on year, down from 2.8% in January. German consumer price inflation on Thursday came in line with forecasts at 2.7% year on year.

Persons: DAX Organizations: LONDON, GSK, Roche, ASML, Nestle, Novartis, Novo Nordisk, L'Oreal, LVMH, AstraZeneca, SAP, Sanofi, Focus, European Central Bank, ECB, Fed Locations: Frankfurt, Germany, London

☆ Novo Nordisk and Eli Lilly rival soars 32% after promising weight-loss drug results
▼ + stars: | 2024-02-26 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

Vials move along a conveyor at the Novo Nordisk A/S production facilities in Hillerod, Denmark, on Monday, June 12, 2023. Shares of Denmark's Zealand Pharma rocketed higher, after the company posted strong results from a trial of a liver disease treatment that has been touted as a potential competitor in the booming weight-loss drug market. The drug has "demonstrated efficacy" in people with obesity and is currently undergoing five Phase-3 trials in a clinical program for people who are overweight or obese. Analysts latched onto the drug's possible efficacity in obesity research following the latest test results, which indicated the safety of the top dosage used in that trial. Several other firms, including Eli Lilly, Roche and AstraZeneca, also seek to compete in the sector.

Persons: Ozempic, Eli Lilly, Roche Organizations: Novo Nordisk, pharma, Denmark's Zealand Pharma, U.S . Food, Drug Administration, Zealand Pharma, Nordisk, AstraZeneca Locations: Hillerod, Denmark, U.S, London, Danish

☆ Volvo falls 5% after it sets out to dilute stake in electric vehicle automaker Polestar
▼ + stars: | 2024-02-23 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

A Polestar Roadster concept electric vehicle during the Singapore Motorshow in Singapore, on Thursday, Jan. 11, 2024. Photographer: Lionel Ng/Bloomberg via Getty ImagesShares of Volvo Cars dipped on Friday, after the company said it would dilute its stake in electric vehicle maker Polestar by distributing 62.7% of its holdings to its shareholders. If approved during the company's annual general meeting of March 2024, Volvo would retain around 18% of Polestar's shares. The announcement comes after the company said earlier this month that it would stop funding ailing brand Polestar and is considering adjusting its holdings in the electrical vehicle maker. Rowan at the time said that the changes were part of a "natural evolution" in the relationship between the automakers.

Persons: Lionel Ng, Polestar, Jim Rowan, Rowan Organizations: Bloomberg, Getty, Volvo Locations: Singapore, Jan, London, Polestar

☆ Houthis claim 'catastrophic' attack in Red Sea that prompted crew to abandon ship
▼ + stars: | 2024-02-19 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +4 min

The Iran-backed Houthi militant group on Sunday damaged a ship offshore Yemen, prompting its crew to abandon the vessel in the latest escalation of maritime tensions that have disrupted key trade routes in the Red Sea. Houthi militants later claimed the attack, with spokesperson Yahya Sare'e identifying the vessel as general cargo ship Rubymar and describing it as British. "The ship suffered catastrophic damage and came to a complete halt," Houthi Spokesperson Sare'e said. The hostilities have also prompted armed exchanges between Houthis and British and American forces, which have previously struck at Yemeni targets in a bid to improve maritime security. Sare'e said that the Houthis on Sunday also shot down a U.S. drone in Hodeidah.

Persons: Yahya Sare'e, Sare'e, Ice Brent, Nymex WTI Organizations: Maritime Trade Operations, CNBC, Global, Djiboutian Navy, Hamas, Maersk, Ice, U.S . Central Command, U.S . Navy, Ambrey Analytics Locations: Iran, Yemen, Red, Belize, British, U.S, Saudi, Khair, Varna, Bulgaria, Gulf, Aden, London, Gaza, Danish, Good Hope, Houthis, ., Houthi, Greece, Yemen's

☆ Hindenburg's latest short target Temenos rejects allegations as share price tumbles
▼ + stars: | 2024-02-16 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +2 min

Shares in Swiss software company Temenos were down over 6% on Friday afternoon, extending Thursday's losses when they closed over 28% lower. Temenos on Thursday released a statement saying its board of directors "fundamentally refutes" a report by short-seller Hindenburg Research. Temenos shares were down 6.1% at 1:17 p.m. London time, trading around 59.66 Swiss francs ($67.67). In its statement, Temenos said Hindenburg's report "contains factual inaccuracies and analytical errors, together with false and misleading allegations ... Its Adani report, published in early 2023, accused the company of "brazen stock manipulation and accounting fraud scheme over the course of decades."

Persons: Temenos, Hindenburg Research's, Hindenburg, Carl Icahn's Icahn, Adani Organizations: New York Stock Exchange, Hindenburg, CNBC Friday, Investment, Carl Icahn's Icahn Enterprises, Adani, Securities, Exchange Board Locations: London, Temenos, India

☆ Renault shares up 7% as carmaker plans dividend hike
▼ + stars: | 2024-02-15 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

Shares of Renault climbed in morning trade on Thursday, after the French carmaker said it would propose raising its dividend per share to 1.85 euros ($1.99) for the financial year, up from 0.25 euros previously. The company on Wednesday reported a full-year group operating margin of 7.9%, which comes in towards the top end of its prior guidance. Group revenue rose 13% to 52.4 billion euros, while net profit was slightly below forecasts, Reuters reported. The automaker is targeting a group operating margin at or above 7.5% and free cash flow of at least 2.5 billion euros in 2024, down from 3 billion euros in 2023. The company said its focus will be on its "unprecedented" 10 upcoming vehicle launches, on optimizing cost structure and on accelerating its electric vehicle (EV) and software strategy.

Persons: carmaker Organizations: Renault, Reuters Locations: Paris, London

☆ Explainer-What Are the Security Deals Ukraine Is Discussing With Allies?
▼ + stars: | 2024-02-14 | by ( Feb. | At A.M. | ) www.usnews.com time to read: +5 min

We need NATO membership," said Ihor Zhovkva, the Ukrainian president's foreign affairs adviser. In these supplements, we define the concrete scope, concrete things, concrete spheres. France and Germany look on course to agree security commitments with Ukraine soon. President Emmanuel Macron was expected to finalise a bilateral security commitment deal in Ukraine this month, but he postponed the trip for security reasons. Zhovkva said there was no need for Ukraine to rush to agree deals.

Persons: Tom Balmforth, Ihor Zhovkva, Zhovkva, Emmanuel Macron, Ukraine's Zhovkva, Olena Harmash, John Irish, Ros Russell Organizations: Tom Balmforth KYIV, NATO, Seven, Kyiv, WHO, Ukraine Locations: Ukraine, Vilnius, Ukrainian, London, Britain, Russian, Russia, Netherlands, Romania, Poland, Denmark, France, Germany, Paris, Budapest, United States, Kyiv

☆ As London loses another listing, analysts are wary of writing off the UK capital
▼ + stars: | 2024-02-14 | by ( Elliot Smith | ) www.cnbc.com time to read: +2 min

The offices of London Stock Exchange Group Plc, right, in Paternoster Square in the City of London, UK. Bloomberg | Bloomberg | Getty ImagesLONDON — TUI became the latest company to ditch its share listing in London, as shareholders voted overwhelmingly for the German travel giant to list solely in Frankfurt. Around 77% of transactions in TUI shares are currently settled via Germany, with the U.K. now accounting for less than a quarter. U.K. stocks are trading at a considerable discount to the rest of Europe, having suffered an investor flight in recent years. London still a contender London has also suffered a number of de-listings and high-profile IPO snubs over the past year.

Persons: TUI, Frankfurt's, Mathias Kiep, London, SoftBank, Rishi Sunak's Organizations: London Stock Exchange Group, City of, Bloomberg, Getty, London Stock Exchange, CNBC, Nasdaq Locations: Paternoster, City, City of London, London, Frankfurt, Hannover, Germany, TUI, Europe

☆ European markets mixed with earnings, U.S. inflation in focus
▼ + stars: | 2024-02-13 | by ( Elliot Smith | ) www.cnbc.com time to read: +2 min

LONDON — European markets were a mixed bag on Tuesday morning, as investors assessed incoming corporate earnings reports and awaited a key U.S. inflation print. The pan-European Stoxx 600 index slipped 0.15% in early trade, with tech stocks shedding 1.3% to lead losses while mining stocks added 0.5%. Headline inflation is expected to come in at 0.2% month-on-month and 2.9% annually, according to economists polled by Dow Jones. The regional Stoxx index has recorded a muted February so far, following a strong end to January. This week will see reporting from several major European businesses, including Heineken, Airbus, Renault, NatWest and Commerzbank.

Persons: DAX, Dow Jones Organizations: LONDON, Japan's Nikkei, Dow Jones Industrial, Federal Reserve, Heineken, Airbus, Renault, NatWest, Commerzbank Locations: Frankfurt, Germany, U.S, London, Europe

☆ L'Oreal shares down 7% on lower-than-expected sales, slowdown in Asia
▼ + stars: | 2024-02-09 | by ( Karen Gilchrist | ) www.cnbc.com time to read: 1 min

LONDON — L'Oreal shares fell more than 7.3% in early deals Friday, before slightly paring losses, as the company reported lower-than-expected sales and pointed to a slowdown in demand in Asia. The world's largest beauty brand on Thursday reported fourth-quarter sales below estimates, rising 2.8% to 10.6 billion euros. Barclays analysts had anticipated a figure near 10.9 billion euros, according to Reuters. The company also logged a 7.6% increase in 2023 full-year sales to 41.18 billion euros ($44.37 billion). The quarterly shortfall was led by activity in North Asia, including China, where sales fell 6.2% over the three-month period.

Organizations: LONDON, L'Oreal, Barclays, Reuters Locations: Asia, London, North Asia, China, Europe, North America

☆ Renewables giant Orsted exits several offshore wind markets, pauses dividend after turbulent year
▼ + stars: | 2024-02-07 | by ( Sam Meredith | Www.Linkedin.Com In Samuelmeredith | ) www.cnbc.com time to read: +1 min

Burbo Bank, Liverpool Bay, England, viewed from the sea turbines on Burbo wind farm off the UK coast. Danish renewables giant Orsted on Wednesday announced plans to cut jobs, pause its dividend payouts to shareholders and exit several offshore wind markets after a tumultuous year of rising costs. Orsted, the world's largest offshore wind developer, said it planned to take steps "to become a leaner and more efficient" organization following a year marked by "substantial challenges." Nipper said the company's financial results had been "adversely affected" by impairments on U.S. offshore projects taken in the third quarter of 2023. Orsted canceled two major offshore wind farm projects in the U.S. late last year, citing high inflation, rising interest rates and supply chain bottlenecks.

Persons: Ørsted, Mads Nipper, Nipper, Orsted Organizations: Burbo Bank, Wednesday, Orsted Locations: Liverpool Bay, England, Danish, Norway, Spain, Portugal, London, Copenhagen, U.S

☆ Shares of Italy's UniCredit jump 10% and hit eight-year high on earnings beat
▼ + stars: | 2024-02-05 | by ( Karen Gilchrist | ) www.cnbc.com time to read: 1 min

A logo on the UniCredit SpA headquarters in Milan, Italy, on Saturday Jan. 22, 2022. Shares of Italian bank UniCredit hit their highest level since 2015 on Monday, after announcing that it would return 8.6 billion euros ($9.2 billion) to investors on the back of higher-than-expected profits. The Milan-based bank shared details of the planned payout after reporting fourth-quarter profits of 1.9 billion euros, almost three times analysts' expectations. Shares of the stock were up 10% by 11 a.m. London time. The payout, which will be delivered through a combination of buybacks and dividends, follows a strong year for the bank, which has been buoyed by higher interest rates.

Locations: Milan, Italy, London

☆ Superdry shares soar more than 100% as company considers going private
▼ + stars: | 2024-02-02 | by ( Elliot Smith | ) www.cnbc.com time to read: +1 min

LONDON — Superdry shares soared more than 100% on Friday, as the embattled British fashion retailer confirmed that co-founder and CEO Julian Dunkerton is considering taking it private. The stock peaked at 48.55 pence per share shortly before 11 a.m. London time and was last trading at around 46p per share. A recent slump in sales and a falling share price have led to speculation that Superdry, which listed on the London Stock Exchange in March 2010, may become a takeover target. The company confirmed in a market update on Friday that Dunkerton had requested "permission to begin exploring the possibility of making an offer for the company," and to begin talks with potential financial backers, which the business accepted. Dunkerton has until March 1 to submit an offer or walk away under the U.K. Takeover Panel's regulations.

Persons: Julian Dunkerton, Dunkerton, Superdry Organizations: London Stock Exchange, Company Locations: British, London, Norwegian

TORONTO (AP) — Court documents show five players from Canada’s 2018 world junior team have been charged with sexual assault. McLeod is facing an additional charge of being a party to the offense of sexual assault. Lawyers for all five players last week confirmed their clients were charged with sexual assault and denied wrongdoing. Two members of that gold medal-winning team who were not charged or implicated were asked about the situation when NHL All-Star Weekend began in Toronto. “That’s all I’ve got for you.”Philadelphia All-Star Travis Konecny was asked repeatedly about Hart, and a team employee told reporters questions about Hart were not allowed.

Persons: Carter Hart, Michael McLeod, Cal Foote, Dillon Dube, Alex Formenton, McLeod, Hart, Formenton, Foote, Dube, Cale Makar, Makar, ” Makar, ” St, Louis, Robert Thomas, “ I’ve, ” Thomas, “, Travis Konecny, I’m, ” Konecny, Rob Gillies, ___ Organizations: TORONTO, —, Philadelphia Flyers, New Jersey Devils, Calgary Flames, NHL, The Associated Press, . London Police, Avalanche, Stanley, Hockey Canada Foundation, Philadelphia, Press Locations: London , Ontario, Toronto, London, ”

☆ H&M shares tumble 8% after weaker sales and surprise CEO exit
▼ + stars: | 2024-01-31 | by ( Jenni Reid | ) www.cnbc.com time to read: +2 min

Shares of Swedish retailer H&M were down 8% at 09:05 a.m. London time on Wednesday, after the company announced weaker sales and the surprise departure of its chief executive. H&M sales were 1% lower for 2023 in local currencies, and 4% lower year-on-year in the fourth quarter. In an unexpected leadership shake-up at the H&M group, Helena Helmersson, who has been in the CEO role for four years, will be replaced by Daniel Ervér. "The H&M group is in a strong position, with a positive profitability trend and good conditions to make further improvements in 2024," group chair Karl-Johan Persson said. "Daniel is a competent, experienced and respected leader and has the qualities needed to continue to develop the H&M group."

Persons: Helena Helmersson, Daniel Ervér, Helmersson, Ervér, Karl, Johan Persson, Daniel Organizations: Oxford Street, Regent Locations: London, United Kingdom, Zara

Valvoline had last year decided to separate its retail services and global products divisions following a strategic review. Saudi Arabia's state-controlled Aramco on Tuesday announced it is pausing plans to raise its crude production capacity from 12 million barrels per day to 13 million barrels per day. At 7 a.m. London time, Brent crude prices for March delivery were up 0.24% from previous close price at $82.60 per barrel. The Tuesday announcement comes amid mounting concerns over the outlook for oil demand worldwide, given a progressing global transition toward decarbonization that casts a shadow over long-term investment projects in fossil fuels. Global oil demand is projected to have risen by 2.3 million barrels per day in 2023 to 101.7 million barrels per day, according to the International Energy Agency's annual report published in December.

Persons: Valvoline, Brent Organizations: Saudi Ministry of Energy, Aramco, International Energy Locations: Saudi Arabia's, Aramco, London

☆ Renault shares jump after scrapping plans to list Ampere EV unit
▼ + stars: | 2024-01-30 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +1 min

Shares of French car maker Renault jumped 5% in early deals on Tuesday, after the company canceled plans to publicly list its new electric vehicle and software business. Renault's share price rose 5.13% at the market open Tuesday before dipping to trade up 1.7% by 8:30 a.m. London time. De Meo originally announced plans to take Ampere public in 2022, as part of a wider strategy to overhaul the automaker and capitalize on the growing EV market. De Meo said Monday that "market conditions" and the increased profitability of the wider business made the listing untenable. He also pointed to a slowdown in EV sales in Europe, but insisted that the electric market would remain "dominant" in the region due to its decarbonization regulations.

Persons: Luca de Meo, De Meo, Ampere Organizations: Renault, Chinese EV, Financial Times Locations: Chinese, London, Europe

☆ SAP shares surge to all-time high after results, plans to restructure 8,000 jobs in push to AI
▼ + stars: | 2024-01-24 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +1 min

An employee works in an office at the SAP SE campus in Walldorf, Germany. Shares of German software company SAP jumped to an all-time high in early deals Wednesday after the company released its latest financial results and announced plans to restructure 8,000 jobs in a push toward artificial intelligence growth. SAP shares were trading up 7% by 8:30 a.m. London time. "SAP will further increase its focus on key strategic growth areas, in particular Business AI. It also intends to transform its operational setup to capture organizational synergies, AI-driven efficiencies and to prepare the company for highly scalable future revenue growth," the company said.

Organizations: SAP Locations: Walldorf, Germany, London

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