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Premium Financial and Business Analysis Magazine, Published by UK’s International Finance Publications Ltd.

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#SamsungElectronics plans USD 7.2 billion buyback after share price plunges Of the total, three trillion won worth of shares, or 50.14 million common shares and 6.91 million preferred shares, will be repurchased in the next three months and cancelled.


#Reliance, #WaltDisney close USD 8.5 billion merger of #India media assets The newly formed divisions are entertainment, which houses Reliance's Colours TV channels and Disney's Star; digital, home to online streaming platforms JioCinema and Hotstar, and sports.


#Tesla, financials and other #TrumpTrades drew #HedgeFunds attention in Q3 2024 Bridgewater Associates, Coatue Management and D1 Capital were among those that added shares of banks and other financial stocks, which have soared since election day. #USElection2024


December 2024 #UnitedKingdom #InterestRate cut unlikely despite #GDP summer slowdown, say money markets The #BankofEngland kept interest rates at a 16-year high of 5.25% until August, when it cut them to 5%, followed by a cut to 4.75% in November. #rachelreeves


#rachelreeves says ‘not satisfied’ with #GDP slowdown as #UnitedKingdom slips down G7 growth leaderboard With a 1.2% ratio, the #European country had the fastest growing #economy in the G7 in the first half of 2024. However, at 0.1% in the Q3, things have run out of steam.


#Nissan shares surge after activist investor #OasisManagement takes stake in automaker Shareholder activism has gained traction in #Japan, where investors are demanding firms to improve corporate governance and capital allocation quickly, also helped by regulators' guidance.


#HyundaiMotor elevates #UnitedStates chief #JoseMunoz to co-CEO position as it braces for #DonaldTrump presidency Trump's policies, which include pledges to boost tariffs on imports and cut subsidies for #ElectricVehicles, can inflict damage on Hyundai and #Kia.


#UnitedKingdom #economy growth slows to 0.1% in #Labour government’s first quarter #GDP rose by just 0.1% in the July-September 2024 quarter, down from the 0.5% growth in the second quarter, and weaker than the 0.2% expected. #KeirStarmer #RachelReeves #BankofEngland


#TotalEnergies, #BP, #Equinor and #Shell commit USD 500 million to boost #Energy access The companies said their joint investment would primarily target sub-Saharan Africa and Asia, to help more people gain access to electricity, thus leading to better conditions to cook food.


#ExxonMobil to cut nearly 400 jobs in #Texas following purchase of #PioneerNaturalResources Exxon will release 110 employees by the end of 2024 and another 178 throughout 2025. The remainder of the cuts, about 100 employees, will take place in 2026.


#China #SelfDriving firm #PonyAI seeks up to USD 4.5 billion valuation in #UnitedStates #IPO Pony, founded in 2016 and backed by #Japan automaker #Toyota, aims to raise up to USD 195 million by offering 15 million American Depositary Shares priced between USD 11-13 each.


After #AbuDhabi #IPO hype, #LuluRetailHoldings shares close flat in debut trading on #ADX Shares opened at 2.04 dirhams (usd 0.55), rising to session high of AED 2.05 before dropping 3% to a low of AED 1.99. It later closed unchanged at AED 2.04.


#FrontierCommunications shareholders approve USD 9.6 billion deal with #Verizon Verizon will absorb about USD 10 billion of the company's #debt. When the deal was announced in September, it represented a 44% premium to Frontier's 90-day volume-weighted average share price.


New #BYD and #BMW car plants in #Hungary to start production in 2025 One of the biggest Chinese investors in Hungary, #CATL, is building a 7.3 billion euro battery plant in the eastern city of Debrecen, while BMW is consolidating its hold within the country further.


#SaudiArabia #inflation rate edges up to 1.9% in October 2024 Rents for housing rose by 11.6% in October, with apartment rents up 11.3%, pushing up prices for the combined housing, water, electricity, gas and other fuels category by 9.6%. #economy


#DonaldTrump #USElection2024 win drives down #pound and #euro against the #Dollar The pound has dropped to its lowest level since early July 2024, down half a cent to USD 1.2653. Euro, on the other hand, has dropped to a one-year low, at 1.0524 against the dollar.


#UnitedKingdom and #Europe #NaturalGas prices hit one-year high While the #European gas benchmark has risen by 4.5% to 45.65 pound per megawatt hour, the price of next-day gas in the UK is also trading at its highest since November 2023.


#EtihadAirways nine-month profit goes up 66% on booming passenger numbers The state-owned airline made 1.4 billion dirhams (USD 381 million) as of September 30, compared to 814 million dirhams in the same period a year earlier. #aviation


Banks flood #UnitedStates #debt market in biggest raise since 2016 The USD 23.5 billion in debt issued by financial institutions accounted for 78% of November 12's total USD 30.15 billion in high-grade #bond sales, which was the fifth-largest day of overall issuance in 2024.


Italian energy contractor #Saipem signs USD 1.9 billion deal with #totalenergies in #Suriname The full project, expected to last 5 years with a first oil in 2028, represents the first major subsea development in Suriname and will consolidate Saipem's presence in #SouthAmerica.


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