Image source: Getty Images So far 2024 has been a good year for the FTSE 100 index of leading companies. Indeed, the index hit a new all-time high earlier this year. But an index is just that, so individual companies within it may well do better or worse than the headline performance. So far this year, for example, a couple of FTSE 100 shares have fallen by a whopping 56% and 24%, respectively. I have bought them both, because I think they are potentially great bargains. Here is my reasoning. Burberry shares have fallen by over half The first share…
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New York City Mayor Eric Adams speaks during a press conference at the City Hall, after it was revealed that he received a fresh round of federal grand jury subpoenas, New York City, U.S., August 16, 2024.Adam Gray | ReutersNew York City Mayor Eric Adams has been indicted on criminal charges in federal court in Manhattan, sources familiar with the matter told CNBC on Wednesday night.The indictment, which remains sealed for now, at least in part accuses Adams of criminal conduct related to donations to his 2021 mayoral campaign. A source said that the indictment mentions up to $20 million…
E-commerce giant Amazon has signed up to a $180 million carbon offset credits deal to help preserve the Brazilian rainforest it is named after. Amazon, along with five other firms, will make the purchase through the LEAF Coalition forest conservation initiative, which it helped to found in 2021 with a group of companies and governments including the United States and United Kingdom. The agreement is LEAF’s first deal in the Amazon, the world’s largest rainforest, which is vital to curbing climate change because of the enormous amount of greenhouse gas its trees absorb. The Para state government and the LEAF Coalition…
TAIPEI (Reuters) – Taiwan prosecutors said on Thursday that they have so far questioned four people as witnesses in their investigation into a Taiwanese company linked to pagers that detonated last week in Lebanon in a deadly blow to Hezbollah. Security sources said Israel was responsible for the pager explosions that raised the stakes in a growing conflict between the two sides. Israel has neither confirmed nor denied its involvement. How or when the pagers were weaponised and remotely detonated remains a public mystery and the hunt for answers has involved Taiwan, Bulgaria, Norway and Romania. Taiwan-based Gold Apollo said…
BBCThe world’s richest person, Elon Musk, has not been invited to the UK government’s International Investment Summit in response to his social media posts during last month’s riots, the BBC understands.Violence spread across the UK after a stabbing attack in Southport, in which three children attending a dance class were killed. The tech entrepreneur posted on X, formerly Twitter, predicting civil war in the UK and repeatedly attacking the prime minister. The summit in October is the key moment that PM Keir Starmer hopes to attract tens of billions in inward funding for business from the world’s biggest investors. Mr…
(Bloomberg) — Oracle Corp. said it owns 29% of startup Ampere Computing LLC and can exercise future investments options that would give it control of the chipmaker.Most Read from BloombergOracle said in addition to equity in the startup, it invested $600 million in the fiscal year ended May 31 in convertible debt issued by Ampere after $400 million in such debt in fiscal 2023. The debt matures in June 2026 and if exercised with options through January 2027 to acquire additional equity, Oracle would “obtain control of Ampere and consolidate its results with our results of operations.”The disclosure came Wednesday…
A survey, conducted by Ramboll and The Climate Group, has shown that nearly 50% of businesses are willing to pay more for low-carbon steel Ramboll and The Climate Group have published a report, titled The Steel and Concrete Transformation: 2024 market outlook on lower emission steel and concrete, showing that just under half of businesses surveyed would pay extra for low-carbon steel. The survey questioned 250 businesses from 42 countries and 21 industries. Willingness to decarbonise is growing The research shows a promising growth of willingness within businesses to decarbonise and purchase low-carbon steel. 45% of respondents to the survey said…
(Bloomberg) — Micron Technology Inc., the largest US maker of computer memory chips, surged in late trading after giving surprisingly strong sales and profit forecasts, helped by demand for artificial intelligence gear.Most Read from BloombergFiscal first-quarter revenue will be about $8.7 billion, the company said in a statement Wednesday. That compares with an average analyst estimate of $8.32 billion. Profit will be about $1.74 a share, minus certain items, versus a projection of $1.52.The rosy outlook is the latest sign that Micron is benefiting from a boom in AI spending. Orders for a type of product called high-bandwidth memory have…
Image source: Getty Images Like so many investors, I dream of finding the next stock that could take off like the Rolls-Royce share price (LSE: RR). The FTSE 100-listed engineering giant’s shares have climbed a staggering 633% over two years and 140% over the last 12 months. They continue to climb – up 6.38% in the last week – but Rolls-Royce shares now look pricey trading at more than 38 times earnings. That’s double the index average of 15.7 times. This FTSE 100 stock has smashed the index CEO Tufan Erginbilgic is still hungry. He’s cutting jobs, streamlining operations and…
SYDNEY–(BUSINESS WIRE)–KKR, a leading global investment firm, and the Skip Essential Infrastructure Fund, today announced the signing of definitive agreements under which a consortium of KKR (on behalf of funds managed by it) and the Skip Essential Infrastructure Fund (the ˜Consortium’) will acquire a 74.25% stake in Queensland Airports Limited (˜Queensland Airports’) from The Infrastructure Fund, managed by Macquarie Asset Management, State Super, and Australian Retirement Trust.This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240925741391/en/ Queensland Airports’ portfolio comprises Gold Coast, Townsville, Longreach and Mount Isa airports, and collectively services travellers across its 39 domestic routes and six…