Recent labour statistics pegged unemployment at 3.9%. Bloomberg indicated that equities gained traction after a $25bn sale of 30-year bonds and the S&P 500 crested 5,200. Analysts believe that the advance in stocks can be attributed to commodity trading advisors being modelled to buy shares this week. Don’t miss out the latest news, subscribe to LeapRate’s newsletter The S&P 500 almost reached a historic high as Apple Inc. (AAPL) shares increased. On the flipside, Nvidia Corporation (NVDA) was at the forefront of losses among semiconductor producers. According to Bloomberg, Wolfe Rese ..read more

According to CNBC, one investment company described the move as “very strange”. BBVA published a notice on its website, stating that its board of directors have offered Banco Sabadell shareholders one BBVA share for every 4.83 shares of Banco Sabadell, constituting a 30% premium on average share prices over the last three months. BBVA described the transaction as “very positive”. The financial institution made this move after Banco Sabadell’s board rejected a €12bn BBVA offer, stating that this bid “significantly undervalues” Sabadell’s growth potential. Don’t miss out the latest news, subscr ..read more

Now, Howard Schultz, the former CEO of the multinational coffeehouse chain, has added his thoughts in the debate around what the company should do next. Schultz was replaced by Laxman Narasimhan in 2023. The current CEO plans to boost the company’s profits through new offerings such as energy drinks and boba tea, as well as by speeding up its service. However, Schultz said that people from inside and outside of Starbucks have asked his opinions on the fact that the company missed its earnings target. While he no longer carries out any sort of formal role with SBUX, the former CEO wrote on Lin ..read more

In the terms of this deal, all of Shell’s Energy and Chemicals Park Singapore assets will go to CAPGC. According to Bloomberg, this confirms the earlier rumours, but to date, no financial details about the agreement have been divulged. Don’t miss out the latest news, subscribe to LeapRate’s newsletter Based on the opinion of those familiar with the matter, the selling price may be as much as $1bn. However, Jefferies Financial Group Inc. (JEF) believes that the deal value will be between $300m and $500m. Bloomberg quoted a note from a Jefferies analyst, Giacomo Romeo, who indicated: The lack ..read more

Lewis is the founder and ex-managing partner of Shard Capital, a wealth and asset manager. He was at the helm of this brokerage from 2010 to January 2022, according to the Financial Times (FT). The financial watchdog found that Lewis provided inaccurate information on two occasions regarding clients’ cash held by Shard. The former Shard Capital CEO reportedly informed auditors between June 2015 and May 2017 that “Shard held hundreds of millions in cash for a particular client”, but it came to light these referenced sums were, in fact, debts owed by “another client in the same group”. Accordin ..read more

Despite this upturn and the streaming part of the business reaching a profit for the first time, Disney expects the results in the current quarter to be weaker. Part of this stems from the losses incurred by Disney+ Hotstar in India. This news led to DIS shares dropping by up to 10% in Tuesday’s trading. The DTC part of the business is now expected to post a loss in Q3. As the company’s traditional TV business continues to lose ground, making consistent profits from streaming becomes even more important. Some of the streaming areas suffered losses in Q2, giving an overall loss of $18m in Q2 ..read more

This is a new fintech platform that enables financial institutions, businesses and software developers to incorporate financial services into their solutions. It unlocks the company’s existing financial technology through user-friendly elements. According to the FIS press statement, Atelio can be used across all industries to execute financial actions, such as collecting deposits, moving money between accounts, issuing invoices, or using the FIS tools to help prevent fraud. This functionality will reportedly also help clients gain insights into their customer behaviours. Don’t miss out the la ..read more

Based on CNBC data, the share prices of Pernod Ricard (RI.PA) and Remy Cointreau (RCO.PA) jumped by 2.7% and 7.6% respectively at the midday mark in London. Chinese President Xi Jinping is currently in talks with European leaders to discuss the continued trade conflict. He met with Macron on Monday, 6 May 2024, and received a bottle of top-shelf cognac, which, according to CNBC, sells for more than $3,200. Macron said: I thank the president for his open attitude regarding provisional measures on cognac and for his wish not to implement them. China had initiated an anti-dumping probe into Eu ..read more

Analysts pointed out that increased spending for the national election in February 2024 and Ramadan, which started in March 2024, bolstered this positive movement. It may, however, be challenging to maintain this momentum in the face of the global economy and domestic monetary pressures. Reuters listed the persistently high US interest rates, the Middle Eastern conflict and local rate hikes as some of the factors that can hamstring continued growth. Financial experts also indicated that the election and religious period were one-off occurrences that buoyed the economy. Don’t miss out the late ..read more

Robinhood pointed out that the SEC warning notice was received on 4 May and is what’s known as a Wells notice. It’s based on the fact that SEC staff have recommended that action be taken due to the company’s alleged violation of registrations, which was done after the agency made a preliminary determination. Don’t miss out the latest news, subscribe to LeapRate’s newsletter This could lead to one of several outcomes in the future if the action leads to a public court proceeding, including a cease-and-desist order or a fine, among other options. Dan Gallagher, the chief legal and compliance of ..read more