Bayer AG Shares Soar After Winning Roundup Legal Battle LeapRate

August 19, 2024 BY Elizabeth Anderson

Bayer AG Shares Soar After Winning Roundup Legal Battle

On Thursday 15 August 2024, the German life sciences company announced that the third US Circuit Court of Appeals in Philadelphia ruled in its favour against the plaintiff, David Schaffner. CNBC reported that a three-judge panel found that the Federal Insecticide, Fungicide, and Rodenticide Act “demands uniformity of state law labelling requirements, preventing the obligation…

August 16, 2024 BY Robert Bell

Unilever Targets Gamers With Increased Advertising Spending

The firm recently confirmed that it tripled its advertising spend in games in the last three years. Unilever now has a team made up of more than 30 developers who are constantly trying to find new approaches that will bring its products to the eyes of the fast-growing gaming community. Willem Dinger, the global head…

August 16, 2024 BY Elizabeth Anderson

Hedge Funds Turning To AI For Market Outlooks

In recent weeks, hedge funds have appeared more cautious in their investment strategies. A TradingView report shows that many of these pooled-capital outfits have lowered their market exposure, and this may suggest wariness regarding the current economic clime. The latest predictions hint that the US Federal Reserve might start slicing interest rates in September 2024.…

August 16, 2024 BY Elizabeth Anderson

Airwallex Eyes 2026 IPO After Making Annual Revenue of $500m

In an exclusive CNBC interview, the company’s CEO, Jack Zhang, stated that the next annual recurring revenue (ARR) target is $1bn, in preparation for going public in 2026. The Singapore-based firm is backed by China’s Tencent Holdings (0700.HK), an investor in digital marketing and fintechs, among others. Don’t miss out the latest news, subscribe to…

August 15, 2024 BY Robert Bell

Mars Launch Bid to Buy Kellanova

The cash offer will be the biggest acquisition ever made by Mars, eclipsing the $23bn it paid to take over Wrigley in 2008. The privately owned chocolate maker announced the purchase on Wednesday. The deal could attract attention from competition watchdogs as it will see brands like Pringles, Milky Way, and Twix brought together in…

Weekly data: all eyes on American inflation

August 15, 2024 BY Elizabeth Anderson

UK’s Inflation Rises For First Time This Year

The Consumer Price Index (CPI) increased for the first time since December 2023 when the central bank hiked interest rates to a 16-year high to temper inflation. In October 2022, UK inflation crested at 11.1% on the back of the pandemic. In the 12 months leading up to July 2024, the CPI rose by 3.3%,…

August 15, 2024 BY Elizabeth Anderson

China Steel Giant Warns Of Looming Industry Crisis

Hu Wangming, the chairman of China Baowu Steel Group, stated that the sector is experiencing a “harsh winter”. He said that this prolonged slump will be “difficult to endure” and will pose a tougher challenge than the 2008 and 2015 crises. Based on a Bloomberg report, global investors are keeping a close eye on China’s…

August 14, 2024 BY Robert Bell

Avon Files for Bankruptcy Amid Cancer Lawsuits

API owns the Avon beauty brand in Europe and Latin America and is a subsidiary of the Brazilian company Natura. The North American operations are run by the South Korean company LG Household & Health Care, which isn’t involved in the current bankruptcy proceedings. API is said to have over $1bn in debt and has…

August 14, 2024 BY Elizabeth Anderson

Wolves Names Zero Markets As Its Official Trading Partner

This is Zero Markets’ first partnership in the European football arena, and it is also the first Australian partnership for Wolves. According to Wolves’ media statement, the broker shares its commitment to trust, integrity and professionalism, and this aligns it with the club’s “values and One Pack mentality”. Don’t miss out the latest news, subscribe…

August 14, 2024 BY Elizabeth Anderson

SEC Charges NovaTech With Crypto Fraud Exceeding $650m

Martin Zizi, Dapilinu Dunbar, James Corbett, Corrie Sampson, John Garofano and Marsha Hadley were also charged for allegedly promoting NovaTech. According to the financial watchdog, these parties raised more than $650m in virtual assets from over 200,000 investors across the globe by operating a multi-level marketing (MLM) and crypto asset investment programme between 2019 and…

Category: Market News