According to Riot, this move by Bitfarms is “shareholder unfriendly” and spotlights the crypto miner’s gaps in corporate management. The conflict started when Riot, which is also a cryptocurrency miner, made a $950m unsolicited bid for Bitfarms in April 2024. Bitfarms rejected this offer, stating that it did not reflect the organisation’s true market value,…
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The $6bn share buyback was confirmed by CFO Paul Jacobson, who pointed out that the automotive giant is ramping up its capital allocation strategy. The GM board has approved this new plan, and the repurchase of up to $6bn of the company's common shares will proceed. This new strategy is in addition to the $10bn…
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The S&P 600 lists small-cap companies with market values of between $250m and $2bn. In its press release, the financial services company said that its subsidiaries VHF Parent LLC and Valor Co-Issuer, Inc. plan to issue $500m in senior first lien notes due 2031. Don’t miss out the latest news, subscribe to LeapRate’s newsletter The…
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During the first week of June 2024, Toyota Motor Corporation (TM) shares dropped by more than 5.4%, constituting a loss of $15.62bn in market value. They started to recover on Monday 10 June 2024, and at 10:30 EDT, the auto manufacturer’s shares were up 1%. Mazda Motor Corporation (7261.T), Japan’s second-largest carmaker, lost 7.7% over…
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It is an entirely new AI-powered tool that will run across the Apple systems to provide a personal approach for each user. Apple will also be integrating ChatGPT into its iPhones and other devices, but it’s not yet clear how this will work or when it will be rolled out. Apple Intelligence will help users…
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This will lead to TDR gaining control of the third-biggest supermarket in the UK as it now holds 67.5% of the ASDA shares. Mohsin will retain his 22.5% stake and Walmart will still own 10% of the company. The brothers made their fortune from founding and then building up the EG Group petrol forecourts business…
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The US Bureau of Labour Statistics reported that 272,000 more US jobs were created in May 2024. Despite this, local unemployment went up from 3.9% in April 2024 to 4%. According to an Associated Press (AP) report, the Nikkei 225 index increased by 0.5% in response to records showing an economic downswing of 1.8% in…
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According to reports, the Swedish automobile maker contemplated stopping its Chinese-manufactured EX30 and EX90 EV sales in Europe should the rumoured EU tariffs be realised. Relocating EV production to Belgium would negate this move. Reuters indicated that the company “insisted” that it was no longer considering the suspension of sales. The European Commission, the European…
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Reuters indicated that the pan-European STOXX 600 climbed by 0.8% and the MSCI All World Country Index steadily approached a high during Thursday’s trading. This comes after the S&P 500 and Nasdaq both achieved new records in the wake of Nvidia Corporation (NVDA) overtaking Apple Inc. (AAPL) as the second most valuable tech giant worldwide.…
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Based on a Bloomberg report, this would be the “biggest such deal globally in three years”. Unnamed sources indicated that the Saudi government is aiming to sell approximately 1.55 billion Aramco shares at roughly $7.27 (27.25 SR) each – constituting a 6% discount based on the stock’s closing price prior to this announcement. Hours after…
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