Live News Live News: ‘Unfair’ to nominate second commissioner; Emerging market stocks dragged down in tech rout Bite-sized servings of the latest in business, tech and current affairs
Luxury news Hermès defies luxury downturn with strong sales growthThe continued demand for their Kelly and Birkin handbags is driving growth and bucking the trend in other luxury houses
Media Streamer Peacock banks on successful Paris Olympics as it prepares to show off to the worldThe streaming platform, owned by NBCUniversal, needs a successful Olympics to boost subscriber numbers - and keep them around afterwards
Technology JP Morgan introduces AI tool as internal ‘research analyst’Product doesn’t contain specific asset and wealth-management division knowledge and is meant for general-purpose productivity
Artificial Intelligence OpenAI reveals new Google search competitor Shares in Google down 3% as ChatGPT parent unveils new search feature in direct challenge to the tech giant
Tech Analysis: Is Amazon about to return cash to shareholders?The e-commerce giant is cash-rich but stingy compared with the rest of big tech, in rewarding its backers
Live News Live News: US economy grows more than expected; Apartment completions slide 15%Bite-sized servings of the latest in business, tech and current affairs
Luxury Hotels London’s Cambridge House to go from royal hangout to luxe hotelCambridge House in London, once home to a prince and a prime minister, will be Mayfair’s newest luxury hotel and members club starting next year
Crypto Coinbase fined £3.5m in UK for ‘high risk’ customer onboardingCompany “repeatedly broken” voluntary agreement by providing services to high risk customers, regulator says
Fintech Revolut secures long-awaited British banking licence Banking license will soon enable Revolut to provide overdrafts, loans and savings products to its more than 9 million UK customers
Markets European equities feel ripples of Wall Street tech sell off Stocks Fall as AI Selloff Goes Global, Yen Surges
Companies Nestlé downgrades sales forecast as price hikes ease World’s biggest food firm has struggled to win back market share after inflation pushed shoppers to cheaper brands
Markets Worst day since 2002 as Wall Street gets AI reality checkInvestors are turning away from megacap companies to smaller ones as concerns grow about over investment in new technologies
Private Equity Private equity gets creative to buy time for more gains - clients say ‘pay me now’Data from Evercore shows continuation funds and other complex transactions fashioned by private equity firms fell 25 per cent last year from 2021’s record $68 billion
Markets IPOs finally bring summer heat with $5.5 billion in deals on tapReduced public valuations and a skittish calendar that’s made predicting deal activity more difficult may encourage companies to push listings into next year, bankers agree.
Markets China’s slowdown is taking a rising toll on European profitsExecutives may hope this is a short-term blip, but it’s not clear how China turns things around
Live News Live News: Virgin Media takes aim at RTÉ; Global markets slump Bite-sized servings of the latest in business, tech and current affairs
Companies Tesla profits below expectations again as Musk demands investor patienceThe electric car maker’s expected lower-cost vehicle reportedly won’t enter production until at least next year
Companies Google parent Alphabet reports sales of $71 billion in second quarter, exceeding expectationsGoogle has rushed to weave artificial intelligence into all of its widely-used products
Markets T. Rowe Price bets on blue bond market Blue bonds are debt instruments that help protect or revive the world’s oceans in the face of climate change, overfishing and pollution