House Speaker Mike Johnson, R-La., made clear on Thursday that House Republicans will not budge amid the ongoing standoff over government funding, as Democrats continue to insist on healthcare concessions. ‘Don’t ask the Republicans what we should be doing or what we should be negotiating. I don’t have anything to negotiate. I sent them, in good faith, exactly what they voted for before,’ Johnson told reporters during a press conference. ‘We did not put any...
OpenAI, the creator of ChatGPT, has overtaken Elon Musk’s SpaceX to become the world’s most valuable startup, after a share sale pushed its valuation to $500 billion. The deal saw current and former OpenAI employees sell about $6.6 billion worth of shares to a group of high-profile investors, including Thrive Capital, SoftBank, Dragoneer Investment Group, Abu Dhabi’s MGX, and T Rowe Price, according to Reuters. SpaceX, Musk’s rocket and satellite company, is currently valued at...
The Treasury is weighing plans to grant newly listed companies a stamp duty exemption in November’s autumn budget, as ministers look to revive London’s competitiveness as a global IPO hub. Officials are considering a two- or three-year holiday on the 0.5% tax levied on UK share transactions, according to reports. The move would form part of chancellor Rachel Reeves’s wider capital markets reforms designed to encourage more businesses to list in the UK. Investors currently...
Senate Democrats appear ready for the long haul as the government shutdown continues and are putting the onus of reopening the government on Republicans. The Senate was out Thursday to observe the Jewish holiday Yom Kippur and is expected to return to action Friday to again vote on the dueling proposals to reopen the government. Though three Democratic caucus members have voted for the GOP’s plan, an end to the shutdown still seems a ways...
Jellycat, the British toymaker behind viral plush toys such as sad-faced eggs and smiling peanuts, is set to pay its owners a £110m dividend after profits more than doubled in 2024. The privately owned company reported pre-tax profit of £139m, up from £67m the previous year, as revenues surged 66% to £333m in the 12 months to 31 December, according to its latest Companies House filings. Founded in London in 1999, Jellycat has become a...
Tesco has warned that the UK grocery sector faces an intensifying price battle in the run-up to Christmas, even as it raised its full-year profit forecast after winning market share over the summer. The UK’s largest supermarket group now expects to deliver annual profits of up to £3.1bn, £100m higher than previous guidance, after its decision to cut prices on 6,500 products by an average of 9% drew in more customers. Tesco said its grocery...
Currys, the UK’s largest electricals retailer, has scrapped its board-level ESG committee, effectively ending formal oversight of environmental, social and governance issues at the highest level of the company. The decision comes as regulation and investor expectations on sustainability tighten across the UK and Europe, raising questions about the message it sends on corporate governance priorities. Although Currys has stressed that it remains committed to its ESG objectives, critics argue the move is poorly timed....
Series, the viral college networking startup, has appointed a humanoid robot as its Chief Marketing Officer (CMO) — and launched the announcement with a campus-wide takeover at Harvard. The robot, named Uri, is a Unitree G1 humanoid powered by advanced AI and lifelike movement. Last week it paraded through Harvard Square and into the stadium stands during the Harvard vs Brown football game, drawing cheers from students and crowds of curious spectators. The campaign generated...
Currys, the UK’s largest electricals retailer, has scrapped its board-level ESG committee, effectively ending formal oversight of environmental, social and governance issues at the highest level of the company. The decision comes as regulation and investor expectations on sustainability tighten across the UK and Europe, raising questions about the message it sends on corporate governance priorities. Although Currys has stressed that it remains committed to its ESG objectives, critics argue the move is poorly timed....
Tesco has warned that the UK grocery sector faces an intensifying price battle in the run-up to Christmas, even as it raised its full-year profit forecast after winning market share over the summer. The UK’s largest supermarket group now expects to deliver annual profits of up to £3.1bn, £100m higher than previous guidance, after its decision to cut prices on 6,500 products by an average of 9% drew in more customers. Tesco said its grocery...
