Tesla Chief Executive Elon Musk has warned that the electric-vehicle maker is not immune to the global economic environment, which he said will be difficult for the next 12 months. At the company’s annual shareholder meeting on Tuesday in Austin, Texas, Musk spoke about car demand, making more money than competitors in a slow economy…
Yes, Barclays has announced that it will be closing 15 branches in the UK. The closures will take place in July 2023 and will affect branches in the following locations: Burnham-on-Crouch, Essex Newcastle-under-Lyme, Staffordshire Kidsgrove, Staffordshire Hedge End, Hampshire Eastleigh, Hampshire Wokingham, Berkshire Bognor Regis, West Sussex Prudhoe, Northumberland Haltwhistle, Northumberland St Ives, Cornwall Falmouth,…
Warren Buffett’s conglomerate, Berkshire Hathaway, has sold its remaining shares in Taiwan Semiconductor Manufacturing Company (TSMC), the world’s largest chipmaker. The announcement was made in a filing indicating that Berkshire Hathaway no longer holds a stake in TSMC as of the end of Q1. In recent weeks, Buffett had expressed concerns about the future of…
Berkshire Hathaway’s shares rose following a strong earnings report and Warren Buffett’s annual shareholder meeting, dubbed the “Woodstock for Capitalists.” The company’s A shares climbed 2% on Monday, reaching an intraday high of $502,055, and extending its year-to-date gains to over 6%. For the first quarter, the conglomerate reported a 12.6% increase in operating earnings,…
Apple shares rose on Friday after the company reported higher-than-expected earnings for the second quarter, driven by impressive sales of iPhones in emerging markets. The tech giant reported iPhone sales revenues of $51.33 billion, up 1.5% from the previous year, which was boosted by the sale of high-end iPhone Pro models during the holiday season….
Microsoft has announced a new incubator program, the Pegasus Program, to extend the resources available through its existing self-service platform for founders, the Startup Founders Hub. The Pegasus Program aims to select start-ups that fill a market need and provide them with Azure, GitHub, and LinkedIn credits worth up to $350,000, along with access to…
Stellantis, the owner of Vauxhall, is suing Continental, a tyre maker, and Bosch, a car parts maker, over allegations of historical price-fixing. The lawsuit follows an EU ruling which found that Bosch, Continental and other firms had formed a cartel, suspected of colluding to fix prices for electronic brake and steering systems. As part of…
Shares in US-listed education firm Chegg and London-listed textbook publisher Pearson tumbled today – each seeing roughly $1 billion (£803 million) knocked off its market cap – after the former warned that students were using ChatGPT instead of its services. Chegg – which offers services including homework help, digital and physical textbook rentals, textbooks and…
The Central Bank of Nigeria (CBN) recently announced the closure of 31 banks in Lagos as part of a larger effort to strengthen the banking sector in Nigeria. This action was taken as a result of the banks’ inability to meet minimum regulatory requirements, and the CBN has emphasized that the closures are necessary to…
B&M is closing stores up and down the country and relocating others as it joins the growing trend of high street closures. The discount store is closing its Bishop Auckland branch in Country Durham on Friday 5 May. The retailer said on its website: “Unfortunately your B&M Bishop Auckland store at 4 Saddler Street will…
