According to its latest report, Chery sold more than 1.8 million units in 2023, establishing a 52.6% year-on-year increase. For the same period, the carmaker exported over 937,000 vehicles to take China’s top spot as its most prominent passenger vehicle exporter for 21 consecutive years. In a Reuters exclusive, sources close to the matter indicated…
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Orcel emphasised the importance of business expansion and asserted that acquiring at the right price is preferable to merely distributing excess capital to shareholders. UniCredit stands out in the European banking landscape for its robust capital distribution strategy, incorporating share buybacks and cash dividends. This approach places the bank among the continent's most generous regarding…
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Following a period of unstable trading conditions, the bank secured a financial lifeline through a £925 million ($1.18 billion) bailout in October. In response to these challenges, Metro Bank embarked on a series of austerity measures, including workforce reductions and eliminating several customer benefits, such as its seven-day-a-week banking service. The bank's efforts appear to…
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Reddit, a news aggregation site and forum network with over 73 million users, has never made a profit to date, but is regarded as one of the world’s biggest and most widely read websites. It has now revealed that its IPO will involve 22 million shares that will be sold for between $31 and $34…
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This investment manager, which currently has the world’s largest Bitcoin ETF, is seemingly initiating this fund to offset its losses against more cost-effective competitors. Although the Grayscale Bitcoin Mini Trust will have lower fees, it will not spark capital gains tax for Grayscale Bitcoin Trust (GBTC) investors. Grayscale indicated that its current GBTC would seed…
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For its financial quarter ending 2024, the company reported total remaining performance obligations of $80bn instead of the predicted $59bn. This 29% all-time high increase strengthens Oracle’s global competitiveness. In its press statement, chief executive officer Safra Catz noted: We expect to continue receiving large contracts reserving cloud infrastructure capacity because the demand for our…
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The fund is supported by CDP Venture Capital, which operates under Cassa Depositi e Prestiti (CDP), Italy's state-backed financial institution known for its investment in innovative and strategic sectors for the country's economic growth. During a conference on AI held in Rome, which brought together experts, policymakers, and industry leaders to discuss the future of…
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With inflation consistently surpassing the BOJ's target of 2% for over a year, investors widely expect the central bank to elevate short-term interest rates from below zero in the upcoming week or by April. The sources noted that the transition away from negative rates is expected to coincide with the termination of the YCC policy,…
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The offer of 220p per VMUK share represents 38% added to the company’s price on the open market on the day of the offer. It has also been suggested that a 2p dividend per share will be added to that figure. The expanded firm will be the second-largest mortgage provider in the UK, and also…
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According to the financial watchdog, it banned Arthur Cobill, an IFM adviser, and William Hofstetter, an IFM director, from advising customers on pension transfers and opt-outs. Hofstetter was also prohibited from holding a senior position at any regulated financial company. Cobill agreed to pay £120,000 and Hofstetter £40,000 to compensate IFM’s customers. The regulator said…
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