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GameStop Corp’s annual shareholders meeting faced significant disruption on Thursday when servers crashed due to an overwhelming amount of traffic. The meeting, scheduled for 11 am ET, was hosted by Computer Share, whose servers were unable to handle the unexpected volume of participants. Technical difficulties leave GME shareholders frustratedThe technical issues began as shareholders attempted to log into the virtual meeting, only to be met with error messages instead of access to the event. A customer service representative from Computer Share, the hosting firm, told CNBC that the servers w...
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Keir Starmer, Labour Party leader, has pledged to prioritize wealth creation and economic growth in the UK in the party’s manifesto, positioning it as a central theme for his campaign. Speaking at the Co-op headquarters in Manchester, Starmer emphasized the importance of addressing the nation’s economic issues and presented a vision aimed at winning over former Tory voters. Economic growth as a cornerstoneStarmer highlighted the broken nature of current wealth creation systems, stating, “The way we create wealth is broken. It leaves far too many people feeling insecure. Wealth creation is our ...
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Rentokil Initial (LON: RTO) share price went parabolic on Wednesday as the company entered a new phase as Elliot Management became one of its biggest investors. The stock soared by more than 13% and reached its highest swing since March 15th. It has soared by more than 18% from its lowest point this year. Elliot Management to push changesRentokil Initial, one of the biggest players in the pest control, is now in the spotlight after Elliot Management took an over £400 million stake in the firm. This action happened at a time when the stock has languished as the company went through a major slow...
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As the UK approaches a crucial election, Labour leader Keir Starmer has outlined an ambitious plan to revive the country’s economy. Amidst a backdrop of Tory disintegration, Starmer’s proposals focus on avoiding major tax increases while seeking innovative ways to generate the necessary investment for economic growth. Labour’s economic pledgesStarmer has promised a so-called triple lock of no income tax, VAT, or National Insurance rises. However, Labour is looking at other avenues for raising funds. The party intends to reform council tax bands, which would result in a transfer of wealth from ...
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Glencore (LON: GLEN) share price has pulled back sharply this month as trades focus on the falling copper prices. The stock crashed to a low of 465p on Tuesday, down by more than over 8% from its highest point this year. Volatility in the commodities marketGlencore’s stock price has crashed hard as investors focus on the happenings in the commodities market. Copper has tumbled by over 12% from the highest point this year even as investors predict strong demand this year. In a note this week, analysts at Deutsche Bank said that copper will jump to $9,000 per ton in the long term. Glencore benef...
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The Tesco (LON: TSCO) share price has continued to fire on all cylinders this year as its performance remained steady. It has jumped by over 11% this year, outperforming other British retailers like Marks and Spencer (MKS) and Sainsbury (SBRY). Tesco’s business is doing wellTesco, the biggest British retailer is performing well as the country’s inflation retreated and wage growth continued growing. Economic data by the Office of National Statistics (ONS) showed that the country’s wages with bonuses rose by 5.9% in April, higher than the expected 5.7%. Excluding bonuses, the country’s wages jum...
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Rishi Sunak, the UK Prime Minister, is facing a significant decline in popularity, particularly among 2019 Conservative voters, following his controversial decision to skip D-Day commemorations for a campaign television interview. The Prime Minister’s approval rating has dropped by 12 percentage points in a week, a development that has put him behind Nigel Farage, who has recently resumed leadership of Reform UK. Sunak’s net score among 2019 Tory voters falls drasticallyAccording to a survey conducted by JL Partners, Sunak’s net score among 2019 Tory supporters plummeted from 20 points on June...
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BAE Systems (LON: BA) share price has done well and is sitting at its highest level on record. It has soared to a high of 1,416p, 62% above its lowest point in 2023, meaning that it has outperformed most companies in the FTSE 100 index. Rising global risksBAE Systems stock price has done well, joining other companies of the military-industrial complex like RTX, General Dynamics, and Lockheed Martin. This growth happened as countries in North America and Europe continued boosting their defense spending. In the US, Senator Roger Wicker has made the case of boosting defense spending to 5% of the ...
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The European Commission announced on Thursday it fined Mondelez International Inc. €337.5 million for obstructing the cross-border trade of chocolate, biscuits, and coffee products between the European Union’s member states. Anticompetitive practices revealedThe Commission’s investigation revealed that Mondelez breached EU competition rules through anticompetitive agreements and concerted practices aimed at restricting cross-border trade of various chocolate, biscuit, and coffee products. Additionally, Mondelez was found to have abused its dominant position in certain national markets for the ...
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Grocery prices are rising at more normal levels following last year’s record surge, as new figures today showed inflation for supermarket goods was just 2.4%. According to market research firm Kantar, grocery price inflation for the four weeks to 12 May is at its lowest since October 2021. This 2.4% rate of price increases, down from 2.9% in the previous four-week period, is now less than a percentage point away from the average pace in the 10 years before prices started to accelerate in 2021. Consumer behavior shifts with easing inflationFraser McKevitt, head of retail and consumer insight at...
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