Although Europe’s luxury businesses shone brightly at Paris Fashion Week, investors are rethinking their appetite for the stock market in the face of a Chinese slowdown and interest rate uncertainty. The STOXX Europe Luxury 10 index has just experienced its largest quarterly drop since 2020, after entering 2023 in vogue on prospects of a swift…
The creator of the massive online retailer Amazon, Jeff Bezos, is increasing his interest in space. He launched two test satellites for his Project Kuiper broadband mega-constellation earlier this week. In order to provide internet connections to every country in the world, Bezos plans to launch more than 3,200 spacecraft over the next five years.…
US President Joe Biden’s administration is under pressure from some lawmakers to forbid American companies from working on a freely available chip technology that is widely used in China, opening a new front in the U.S.-China tech conflict that could fundamentally alter how the international technology sector collaborates. RISC-V, or “risk five,” is the in…
OpenAI, the maker of ChatGPT, is considering developing its own artificial intelligence chips and has even considered analysing a potential acquisition target, according to persons familiar with the company’s plans. According to recent internal conversations reported to Reuters, the business has not yet made a decision to proceed. However, since at least last year, it…
Rivian Automotive, a manufacturer of electric vehicles, announced plans to sell $1.5 billion in convertible green bonds and a projected increase in quarterly income. In after-hours trading, shares of the business with headquarters in Irvine, California, decreased by over 8%. When issued, convertible bonds are often viewed unfavourably by investors since they can be diluted…
Before it listings on the New York Stock Exchange next week, investors and analysts say that sandal firm Birkenstock needs to offer more clogs and boots and increase sales through its own website and shops to attract new customers despite a cost of living issue. The initial public offering (IPO) market is gradually reopening after…
A public sale of stock in the company is expected to take place over the following two to three years, according to chipmaker Intel, which aims to operate its programmable chip unit as a standalone business beginning in January. Following the announcement, Intel stock increased by more than 2%. When Intel acquired Altera for $16.7…
According to people familiar with the bank’s operations, UBS is attempting to draw clients by offering above-market rates on deposits as it looks to increase inflows after acquiring struggling rival Credit Suisse. According to one of the sources who asked to remain anonymous because the topic is private, clients who deposit money with Credit Suisse,…
According to persons familiar with the situation, BP Plc is considering selling a 49% share in its U.S. oil and gas pipeline network in the Gulf of Mexico in an effort to earn up to $1 billion. The proposed divestiture would aid BP in achieving its goals to cut debt and preserve its dividend. BP’s…
According to several people with knowledge of the changes, Blue Origin, the aerospace company founded by billionaire Jeff Bezos, expects to dissolve a corporate partnership established years ago to construct a commercial space station, reassigning staff and changing leadership as it adjusts to more pressing priorities. According to three sources with knowledge of the situation,…
