The Norwegian sovereign wealth fund, one of the largest global investors, announced that its market value had increased to $1.6tn on Thursday, 18 April 2024. The fund further reported that most of its investments (72.1%) consisted of equities, 26% of fixed income, 1.8% of unlisted real estate, and 0.1% of renewable energy infrastructure. It reportedly…
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The British oil giant said that it is streamlining its organisational framework to increase its value. Apart from Lin, who replaces Anja-Isabel Dotzenrath, the company also announced the appointment of Emeka Emembolu, who will be in charge of technology functions to replace Leigh-Ann Russell. CNBC reported that BP’s CEO, Murray Auchincloss, said: As I set…
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The company markets this drug as Zepbound® in the US and as Mounjaro® in some international markets. These outcomes add to the merits of medicines such as Zepbound and Novo Nordisk’s (NVO) Ozempic in the treatment of obesity and diabetes. Despite supply, cost, and health insurance issues, these drugs remain in high demand worldwide. Lilly…
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The first point covered by board chair Robyn Denholm was that they want to move the corporate home of the electric vehicle maker to Texas, where the physical headquarters are based. The other point raised by Denholm is that they want to reinstate the giant $56bn pay package awarded to CEO Elon Musk in 2018…
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The share price dropped by more than 2%, while the overall S&P 500 declined by just 0.2% on the same day. JNJ reported sales of $21.38bn in the first quarter of 2024, which represents a 2% increase on a year-on-year basis. The firm’s net income rose by close to 4%, giving a total of $6.58bn,…
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This followed a turbulent week of trading when the parent company of the Truth Social platform lost over 20% in a single day. While each DJT share was valued at over $66.22 in late March, they have now fallen to nearly $27. Analysts have suggested that the dropping price may be linked to the filing…
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It seems likely to lead to a bitter court dispute. Jane Street Group has accused Millennium Management of using its in-house trading strategy. The roots of this dispute date back to earlier this year, when traders Daniel Spottiswood and Douglas Schadewald moved from Jane Street to Millennium. Both were heavily involved in creating the proprietary…
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This action, which occurred during the final 15 minutes of local trading time on Tuesday, 9 April 2024, sunk China Tianrui Group Cement’s stock by 99%, and at the final bell, a share sold for 0.048HKD. According to Bloomberg, the company cited a pending announcement regarding inside information for the halt in trading. The company’s…
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CNBC reported that this public address to Alibaba employees was the second in recent months. In an attempt to restore the Chinese technology mammoth to its former glory, the company made unprecedented organisational changes. In an internal memorandum to the firm’s employees, Ma reportedly wrote: Over the past year, amid external and internal doubt and…
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This is the highest mark so far and, according to Yahoo Finance, reflects an estimated 6% jump from the opening benchmark mean on Monday, 8 April 2024. In a note to clients, Harvey postulated that investors are overlooking the possibility of stock valuations that are too high in the present market clime. This keeps current…
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