Press Round-Up Short (Premium)
Thursday newspaper round-up: Nvidia, Rishi Sunak, M&S
Shares of Nvidia rallied to record highs on Wednesday, with the artificial-intelligence chipmaker’s stock market valuation hitting the $3tn mark and overtaking Apple to become the world’s second most valuable company. The chipmaker’s stock was up 5. 16% at $1,224. 40, giving Nvidia a market value of $3. 01tn at market close. Apple’s market capitalization was at $3. 00tn at market close as its stock climbed 0. 78%. – Guardian.
Wednesday newspaper round-up: Airbus, Tesco, Royal Mail, Mike Lynch
Britain’s next government will need to fill a shortfall of up to £33bn in the public finances unless it is prepared to push through a fresh round of severe austerity measures, a thinktank has warned. The Resolution Foundation said the debate between Labour and the Conservatives over the funding of specific pledges was “detached from reality”, with election promises based on cuts that would be hard to deliver. – Guardian.
Tuesday newspaper round-up: Consumer spending, Nick Train, Sam Altman
Consumer spending growth is at its weakest in more than three years as higher council tax bills and the rising cost of broadband and mobile phones eat into household budgets, a report has said. The monthly snapshot of credit and debit card activity from Barclays found an improvement in consumer confidence as a result of falling inflation was not leading to a pickup in spending. – Guardian.
Monday newspaper round-up: HSBC, Shein, Nvidia
Union leaders are preparing to ramp up industrial action at two south Wales steelworks, in a further escalation of a row over almost 3,000 job losses that threatens to become a big general election issue. Unite said such moves at the Port Talbot and Llanwern works are planned after the sites’ Indian owner, Tata Steel, threatened to cut redundancy pay as a response to members voting for an overtime ban. – Guardian.
Sunday newspaper round-up: Copper, Boeing, OPEC+
Analysts believe that copper prices might fall sharply if the US central bank starts lowering interest rates. According to analysts at Liberum that is because once prices are brought under control and the Fed starts cutting rates the metal will lose its attractiveness as an inflation hedge. An increasing number of analysts also believe that an increased need for copper on account of the green revolution has already been priced in. - The Financial Mail on Sunday .