Business

Norfolk Southern CEO Alan Shaw testifies at a hearing before the Senate Environment and Public Works Committee on protecting public health and the environment in the wake of the Norfolk Southern train derailment and chemical release in East Palestine, Ohio in Washington, D.C., the United States, March 9, 2023. Aaron Schwartz | Xinhua News Agency

There was no growth in the UK economy in July, official figures show. It’s the second month of stagnation, the Office for National Statistics (ONS) said as GDP – the measure of everything produced in the UK – flatlined in the weeks following the election of the Labour government. Such news was not expected by

Wells Fargo bank analyst Mike Mayo highlighted Citigroup stock as his favorite bank name on Tuesday while speaking on CNBC’s ” Squawk on the Street .” Shares of Citigroup could double over the next two-and-a-half years “simply by going back to tangible book value,” Mayo said. Citigroup sold for 73% of tangible book at the

A start-up which helps companies protect against cyberattacks targeting their AI chatbots has raised millions of dollars to fund its expansion. Sky News understands that SplxAI, which was founded earlier this year, will announce this week that it has secured $2m from investors led by Inovo.vc, South Central Ventures and Runtime Ventures. The company says

In macroeconomics, the yield curve is used to forecast the probability of a recession. When the curve becomes inverted, it means that short-term yields are higher than long-term yields which, up until last week , had been the case for over two years. This puts investors on edge because an inverted yield curve has historically

Elon Musk is on track to become the world’s first trillionaire by 2027, according to a new global wealth report. Musk, 53, is currently the richest person in the world, with a net worth of $251bn (£191bn), according to Bloomberg’s Billionaires Index. However, according to Informa Connect Academy’s findings, his wealth has been growing at

Nurphoto | Nurphoto | Getty Images Satellite TV provider DirecTV has filed a complaint with the U.S. Federal Communications Commission, accusing Walt Disney of failing to negotiate in good faith and engaging in anticompetitive behavior, the company said on Sunday. In the complaint, DirecTV said Disney has imposed unreasonable conditions on the renewal of their

A clearing bank launched just three years ago is raising tens of millions of pounds of fresh funding just days after it was served with a winding-up petition by the UK tax authorities. Sky News understands that The Bank of London, which attempted to rescue Silicon Valley Bank UK last year, is progressing plans for

Exchange-traded fund inflows have already topped monthly records in 2024, and managers think inflows could see an impact from the money market fund boom before year-end. “With that $6 trillion plus parked in money market funds, I do think that is really the biggest wild card for the remainder of the year,” Nate Geraci, president

Three out of four parents of children with special educational needs and disabilities (SEND) have been forced to give up work, or cut their hours, Sky News has learned. In a survey of more than 500 people, two out of five (40%) had to leave their jobs, and more than one in three (33%) reduced

Wall Street appears to be grappling with what the mixed August jobs data means exactly for markets. Stocks dropped Friday, with the S & P 500 headed for its worst week in a year after the nonfarm payrolls report came in with both good and bad news. On one hand, the unemployment number eased slightly.

The UK economy would need investment of £1trn pounds over a decade for an annual growth rate of 3% to be achieved, according to a business lobby group. The Capital Markets Industry Taskforce (CMIT), which represents leaders in the financial services sphere, said £100bn a year must be found to help the country catch up

The start of the NFL season presents a new chance for fans to dream about a Super Bowl run, and for investors in sports gambling stocks to hope for a big rally. Sports betting has become a regular presence in broadcasts and advertising, but that doesn’t mean the stocks tied to those companies are booming.

The board of Wefox, the troubled European insurance company, has sounded a fresh alarm over its solvency, warning investors that it could collapse before the end of the year without an additional funding boost. Sky News has learnt that investors in Wefox, which is backed by a syndicate of prominent investors including the Abu Dhabi

United States Steel Mon Valley Works Clairton Plant and Clairton Coke Works facility in Clairton Pennsylvania, Monday, September 11, 2023. Thomas O’Neil | Nurphoto | Getty Images U.S. Steel shares tumbled more than 20% on Wednesday as the White House is reportedly preparing to block the company’s planned sale to Japan’s Nippon Steel. People familiar

Stock markets globally are feeling the pain of a US-led slump that was sparked by renewed concerns for the country’s economy and artificial intelligence-linked values. The darling of US stocks since 2019, AI chipmaker Nvidia, saw its shares plunge almost 10% on the back of poorly received earnings growth last week. Other tech stocks in