Business

The dominance of megacap technology stocks, dubbed the “Magnificent Seven,” has become a problem for mutual fund managers seeking to diversify their portfolios. The group — which includes Amazon , Microsoft , Meta , Alphabet, Apple , Nvidia and Tesla — has led the current bull market and 2024’s rally, increasing its representation in market

Vessels like Mike Lynch’s stricken superyacht are “unsinkable”, according to the chief executive of the firm which makes and sells them. Giovanni Costantino, CEO of The Italian Sea Group, told Sky News there are no flaws with the design and construction of the Bayesian superyacht which capsized in a storm off the coast of Porticello,

Check out the companies making headlines in midday trading: Target — Shares of the retailer surged 12% on second-quarter results that surpassed Wall Street’s expectations. The company maintained its cautious outlook but said sales grew roughly 3%. JD.com — The U.S.-traded shares of the Chinese e-commerce company fell more than 5% after Walmart confirmed it

Tory leadership hopeful Robert Jenrick has admitted to using the weight loss jab Ozempic but said he “didn’t particularly enjoy it”. The former immigration minister confirmed he took the medication for around six weeks last autumn to slim down. Politics live: Govt under fire over airport decision He said it was “helpful” but he has

Financial markets have given investors several scares and head fakes this summer, but one group is emerging as a winner with a balance of fundamental improvement in its business, and defensive qualities — insurance stocks. The iShares U.S. Insurance ETF (IAK) has gained 8.2% in the third quarter, compared to 2.4% for the S &

British tech tycoon Mike Lynch and his 18-year-old daughter are among six tourists missing after a luxury yacht sank in a tornado off the coast of Italy. One person has been confirmed dead, believed to be the vessel’s Canadian chef, while four of the missing passengers are British and two American, according to Italian newspaper

Much of the anticipated upside from Apple ‘s artificial intelligence strategy may already be priced into the stock, according to MoffettNathanson. Analyst Craig Moffett initiated coverage of the iPhone maker on Monday with a neutral rating and $211 price target, arguing that while Apple is poised to win the AI race, the news is already

Dozens of Ted Baker stores will shut for the last time this week amid growing doubts over a future licensing partnership with the retail tycoon Mike Ashley. Sky News understands that talks between Mr Ashley’s Frasers Group and Authentic, Ted Baker’s owner, have stalled three months after it appeared that an agreement was imminent. Administrators

When Kamala Harris chose Minnesota Governor Tim Walz, a former teacher, as her running mate, experts noted he could bring a revitalized policy focus on child care and early childhood. As governor, Walz expanded state child tax credits and built a paid family leave program. Walz also distributed funds to boost early child-care professional wages

The private equity backer of Six Nations Rugby is plotting to buy a stake in one of Britain’s biggest audit firms – a deal which could have ramifications across the professional services sector. Sky News has learnt that CVC Capital Partners is among the buyout firms preparing to table bids for a controlling stake in

U.S. Vice President Kamala Harris speaks next to U.S. President Joe Biden at an event in Prince George’s County, Maryland, U.S., August 15, 2024. Elizabeth Frantz | Reuters President Joe Biden’s role at the Democratic National Convention next week may have been dramatically reshaped by his decision to end his bid for a second term, but

Tesco has recalled its “melt in the middle” meat-free burgers due to a “burn risk”. The product recall relates to the 240g Tesco Plant Chef 2 Meat-Free Burgers with Melting Middle. The recall, issued on Friday, states: “Tesco are taking the precautionary step of recalling Tesco Plant Chef 2 Meat-Free Burgers with Melting Middle because

Hugh Jackman and Ryan Reynolds star in Marvel’s “Deadpool and Wolverine.” Disney The trio of Ryan Reynolds, Hugh Jackman and Shawn Levy have captured lightning in a bottle with “Deadpool & Wolverine.” As of Thursday, the Disney and Marvel film is the highest-grossing R-rated title of all time, surpassing Warner Bros.’ “Joker.” With $516.8 million

Ed Sheeran has bought a 1.4% stake in Ipswich Town, it has been revealed. The singer – who has sponsored the team’s shirts since 2021 – has signed on as a “passive” investor and will not become a board member, the football club confirmed. However, as part of the deal, Sheeran will receive perks such

United Airlines CEO Scott Kirby celebrates the opening of a new addition to its Flight Training Center in Denver, Colorado, on Feb. 22, 2024. Hyoung Chang | Denver Post | Getty Images United Airlines CEO Scott Kirby says he is optimistic about Boeing‘s recovery after meeting with the manufacturer’s new chief executive. It’s an upbeat

Europe’s largest tour operator has reported a record-breaking quarter amid “strong demand” for holidays. TUI said all its divisions had performed well, including its hotels, tours and cruise businesses, with nearly six million holidaymakers travelling with the firm in the three months to the end of June. Total revenues were €5.8bn (£5bn) during the period,