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Not for sale: Rightmove sees off interest from Australian rival REA
Thursday 03 Oct 2024In a sign UK companies are in a mood to see off overseas predators, Rightmove (RMV) has successfully batted off interest from Rupert Murdoch-backed rival REA Group (REA:ASX) . The latter says it will no longer pursue the online UK property portal after having its fourth offer rejected. Rightmove...
Allegations crash Super Micro Computer in September
Thursday 03 Oct 2024It’s been a bleak September for AI (artificial intelligence) super computer manufacturer Super Micro Computer (SMCI:NASDAQ) , a popular stock with retail investors. First targeted by Nathan Anderson’s short selling firm Hindenburg Research at the end of August, it is now reportedly facing a...
Handbags at dawn for Mulberry as Boohoo mulls break-up
Thursday 03 Oct 2024Posh handbag maker Mulberry (MUL:AIM) has rejected (1 October) a potential £83 million takeover proposal from Frasers (FRAS) , Mike Ashley’s sprawling retail conglomerate. Like Lord Wolfson’s Next (NXT) , Frasers is expanding its stable of brands through acquisitions of, and investments in,...
Surprise jumbo rate cut sends stocks and gold to new all-time highs
Thursday 26 Sep 2024Making a virtue out of necessity is the hallmark of a skilled communicator, and that certainly applies to US Federal Reserve chair Jay Powell after markets seemingly embraced his decision to start the rate-cutting cycle with an unusually large half a percentage point cut on 18 September. The...
Oxford Metrics slumps to six-year low after profit warning
Thursday 26 Sep 2024Smart sensing firm Oxford Metrics (OMG:AIM) is on its uppers after a damaging profit warning on 23 September. The shares slumped to their lowest level since 2018 as the company said revenue would come in at £40 million to £42 million for the 12 months to 30 September 2024 compared with consensus...
Communications kit designer Filtronic receives boost from SpaceX
Thursday 26 Sep 2024Communications equipment specialist Filtronic (FTC:AIM) has Elon Musk’s space exploration company SpaceX to thank for recent share price gains. Over the past year Filtronic shares are up 336% as the company continues to maintain a relationship with SpaceX first announced in April 2024. On 30 August...
Investment trust sector celebrates ‘leap forward’ on cost disclosure
Thursday 26 Sep 2024The investment trust sector is in celebratory mood after the Labour government and the FCA (Financial Conduct Authority) announced (19 September) they will exempt London-listed investment trusts from the EU’s PRIIPs (Packaged Retail and Insurance-based Investment Products regulation) and Mifid...
Microsoft, BlackRock, Nvidia back enormous new AI datacentre fund
Thursday 26 Sep 2024The world’s leading companies from the software, investment and microchip industries are to join forces to set-up an enormous new investment vehicle aimed at developing next generation AI (artificial intelligence) infrastructure and datacentres. Microsoft (MSFT:NASDAQ) and BlackRock (BLK:NYSE) ,...
Chinese economic data piles pressure on leadership to take bold steps
Thursday 19 Sep 2024The mood music coming out of China hasn’t improved over the summer, with the latest figures showing factory output, consumption and investment all fell more than forecast in August. At the same time, the decline in residential property prices seems to be accelerating with new-home prices in 70...
Can Costco continue to deliver the goods?
Thursday 19 Sep 2024Disappointing results from US discounters Dollar Tree (DLTR:NASDAQ) and Dollar General (DG:NYSE) have confirmed the US consumer is under pressure, but the quest for value is playing to the strengths of retail goliaths such as Walmart (WMT:NYSE) and high-flying Costco Wholesale (COST:NASDAQ) , whose...