Finance
Bank of England expected to cut interest rates as jobs market weakens Several economists are predicting the Bank of England could cut interest rates as soon as December, following this morning’s weak jobs report. And looking further ahead, the money markets are now indicating they expect 65 basis points of BoE rate cuts by the…
New York — The Dow surged higher on Tuesday, bolstered by optimism that the US government shutdown might come to an end this week. The Dow gained 559 points, or 1.18%, and closed at a record high of 47,927.96. The broader S&P 500 gained 0.21%. Meanwhile, the tech-heavy Nasdaq Composite fell 0.25%. Stocks were mostly…
TOKYO (AP) — Japanese technology giant SoftBank said Tuesday it has sold its stake in Nvidia, raising $5.8 billion to pour into other investments. It also reported its profit nearly tripled in the first half of this fiscal year from a year earlier. Tokyo-based SoftBank Group Corp. said it sold the stake in Silicon Vally-based…
Optimism over the promise of AI technology has sparked a rush of multi-billion-dollar deals (Kazuhiro NOGI) Japan’s SoftBank Group reported Tuesday that net profit more than doubled in the second quarter thanks to a boom in AI-related share prices that has fuelled fears of a market bubble. The tech investment giant — a major backer…
Investors raced out of equity funds and into money market and fixed-income assets in October as concerns heighten over a possible stock market bubble. Equity funds saw their largest outflows on record last month with net selling hitting £3.6bn, a third of which was from UK-focused funds, according to global funds network Calastone, which tracks…
LONDON (Reuters) -British investors have pulled a record 7.4 billion pounds ($9.9 billion) from equity funds since June, marking the longest period of consecutive monthly net selling since the Brexit vote in 2016, data from funds network Calastone shows. The move has been driven by nerves over whether high global stock prices are sustainable and concerns…
Japanese multinational investment company SoftBank said it had sold its remaining stake in Nvidia for $5.83 billion (€5bn) as it pivots towards AI investments. SoftBank also reported stronger-than-expected earnings for the three months to 30 September, posting a net profit of ¥2.5 trillion (€14bn), more than double the ¥1.18 trillion (€6.6bn) recorded a year earlier….
Legendary investor Warren Buffett has said he will be “going quiet” as he sent the last of his famous shareholder letters as chief executive. The 95-year-old “Oracle of Omaha” also threw his weight behind incoming boss Greg Abel and said he had “more than met” his high expectations. Shares in Buffett’s $1trn company, Berkshire Hathaway,…
There are plenty of under-appreciated companies in the stock market that investors should notice, according to Bank of America. Hyperscaler tech companies and other high-flying stocks tied to artificial intelligence have been powering the U.S. equity market to record highs this year. The AI trade has gotten choppy in recent weeks, however, as pockets of…
The FTSE 100 (^FTSE) and European stocks finished higher for a second day on Tuesday, while Wall Street wavered as anxiety about inflated AI valuations overshadowed signals that the US government shutdown is set to end soon. SoftBank Group (SFTBY) said on Tuesday it had sold its entire stake in chipmaker Nvidia (NVDA) to fund…