Financial news

• DT Cloud Acquisition Corporation Announces Closing of $69 Million Initial Public Offering, Including Full Exercise of Underwriters’ Over-Allotment Option

  23-02-2024 22:00 via globenewswire.com
  
  New York, New York, Feb.23, 2024(GLOBE NEWSWIRE) -- DT Cloud Acquisition Corporation (NASDAQ: DYCQU, the “Company”) announced today that it closed its initial public offering (“IPO”) of 6,900,000 units at an offering price of $10.00 per unit. This includes the exercise in full by the underwriters of their over-allotment option to purchase up to an additional 900,000 units. Each unit consists of one ordinary share and one right. Each seven rights entitle the holder th
  
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• Why has Nvidia driven stock markets to record highs?

  23-02-2024 17:39
  
  What you need to know about the company, its importance to AI and whether the stock market boom is sustainableInvestor excitement over artificial intelligence reached a new peak this week when better-than-expected results from chipmaker Nvidia drove stock markets in three continents to record highs.The rally began on Thursday and continued into Friday, as Nvidia overtook Google’s parent group, Alphabet, to become the third most valuable company in the US. Its market capitalisation hit $2tn
  
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• Serco ordered to stop using facial recognition technology to monitor staff

  23-02-2024 17:07
  
  Biometric data of more than 2,000 staff at 38 leisure centres was unlawfully processed to check attendance, watchdog findsBritain’s data watchdog has ordered a Serco subsidary to stop using facial recognition technology and fingerprint scanning to monitor the attendance of staff at the leisure centres it operates.The Information Commissioner’s Office (ICO) found that the biometric data of more than 2,000 employees had been unlawfully processed at 38 centres managed by Serco Leisure t
  
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• Nationwide puts more than 300 people’s jobs at risk in latest cuts

  23-02-2024 16:45
  
  Letter to staff from building society’s union says move will lead to about 125 job losses, taking cuts over past year to nearly 800Nationwide building society has put more than 300 people’s jobs at risk in the lender’s third round of cuts over the past 12 months as bosses push ahead with a major restructuring plan.A letter sent to staff by Nationwide’s employee union, and seen by the Guardian, explains that the latest redundancies will affect workers across its retail ser
  
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• Martin Lewis shares 'cheaper' alternatives to using tumble dryer as Brits cut back

  23-02-2024 15:47 via express.co.uk
  
  The money saving expert has shared his top tips for cutting household costs, as nearly 40 percent of Brits are using their tumble dryer less.
  
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• British Gas takes £3,300 from man's bank account - despite him never being a customer

  23-02-2024 15:37 via express.co.uk
  
  Lawrence Cannon, 67, only noticed the erroneous payments in November last year. He said: "I don't bank online and, to be honest, don't often go through my bank statements in much detail."
  
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• Bank raises interest rate on fixed Cash ISA to ‘excellent’ 5.01%

  23-02-2024 15:24 via express.co.uk
  
  Savers can opt to have the "competitive" interest rate paid monthly or annually.
  
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• Ownerless Scottish properties to be handed to local communities

  23-02-2024 15:01
  
  Plan for picnic stop in Muirkirk and similar projects contrast with land system in rest of UK, where state or crown keep assetsThe villagers of Muirkirk, a former mining community known for its religious revolutionaries and its footballers, have plans for the derelict petrol station they are about to buy for a knockdown price.An acre square of crumbling tarmac and scrub, it will soon become a community garden and a picnic stop for tourists travelling through Ayrshire on the A70, thanks to an unu
  
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• Halifax delivers 'massive mortgage curveball' as it reduces fixed rates

  23-02-2024 14:46 via express.co.uk
  
  Brokers have described Halifax's move to cut mortgage rates as "refreshing" and "pragmatic".
  
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• DWP state pension 'tipping point' warning as shrinking workforce struggles to foot bill

  23-02-2024 14:44 via express.co.uk
  
  Record low births mean there will be fewer working Britons to pay the rapidly increasing bill.
  
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• British Airways owner set to report record sales despite UK recession

  23-02-2024 14:39 via express.co.uk
  
  International Airlines Group is expected to report sales totalling just shy of 30 billion euros , a record yearly amount for the group and more than a quarter higher than the prior year.
  
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• Standard Chartered chief’s pay jumps 22% to £7.8m after profit bump

  23-02-2024 13:47
  
  Bank reports annual pre-tax profits rose by 19% to £4bn in 2023, pushing Bill Winters’ pay to eight-year highBusiness live – latest updatesStandard Chartered has handed its chief executive his largest pay package in nearly a decade as the lender reported a jump in profits, despite bracing for up to £1bn in potential losses due to China’s property downturn.The profit bump helped push Bill Winters’ pay up 22% to £7.8m – from £6.4m in 2022. It i
  
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• Ryanair says UK airports are at 'enormous disadvantage' because of air passenger duty

  23-02-2024 13:38 via express.co.uk
  
  The airline's chief commercial officer said the tax limits growth in flight capacity
  
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• Petrol prices rise for the first time in five months in major blow for drivers

  23-02-2024 12:59 via express.co.uk
  
  Average pump prices have increased by 3.67p per litre in a month, reversing a 15-week fall between October and mid-January, according to the latest AA Fuel Price Report.
  
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• Energy calculator shows how Ofgem price cap plunge will affect your bill

  23-02-2024 12:56 via express.co.uk
  
  The energy price cap will fall by 12.3 percent on April 1.
  
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• Mortgage lending on holiday lets to be restricted in some tourist hotspots

  23-02-2024 12:41 via express.co.uk
  
  Leeds Building Society will restrict mortgage lending on holiday lets in some tourist hotspots in England, following a 12-month trial with two local authorities
  
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• US man accused of making $1.8m from listening in on wife’s remote work calls

  23-02-2024 12:31
  
  Regulator charges Tyler Loudon with insider trading in case that could fuel arguments about working from home• Business live – latest updatesUS regulators have accused a man of making $1.8m (£1.4m) by trading on confidential information he overheard while his wife was on a remote call, in a case that could fuel arguments against working from home.The Securities and Exchange Commission (SEC) said it charged Tyler Loudon with insider trading after he “took advantage of his r
  
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• Two-thirds of Super Bowl bets were illegal as black market thrives, report says

  23-02-2024 12:00
  
  About 228m bets placed on Super Bowl LVIII were on illegal platforms despite legalization, according to a new analysisThis month’s Super Bowl, in the neon glare of the Las Vegas Strip, capped online betting’s extraordinary rise from pariah to the luxury box of top-flight sports. Tens of millions of Americans had money riding on the Kansas City Chiefs’ clash with the San Francisco 49ers.In its fight to overturn a federal ban on sports betting, legalization’s supporters arg
  
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• ‘Justice is served!’: scoring tiny wins over big companies, one disgruntled email at a time

  23-02-2024 12:00
  
  From unfair pricing to fixing potholes, meet the people taking on ‘the man’ – and getting what they want A while ago – in September 2020 to be precise – Joe in London bought a kettle. Not just any kettle: this was a designer kettle, by Sowden for Hay, in cream, with a red base and a blue lid. “Because I’m the type of millennial who believes I deserve a little treat, even when I’m just buying a kettle,” he says.The kettle took 10 months to arr
  
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• Tyler Perry halts $800m studio expansion after being shocked by AI

  23-02-2024 11:06
  
  US film and TV mogul says he has paused his plans, having seen demonstrations of OpenAI video generatorTyler Perry has paused an $800m (£630m) expansion of his Atlanta studio complex after the release of OpenAI’s video generator Sora and warned that “a lot of jobs” in the film industry will be lost to artificial intelligence.The US film and TV mogul said he was in the process of adding 12 sound stages to his studio but has halted those plans indefinitely after he saw demo
  
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• How Ukraine’s largest private equity firm raised $350m during a war

  23-02-2024 11:00
  
  CEO says doing business while at ‘the centre of a hurricane’ is crucial to keeping the country afloat• Business live – latest updatesFor Lenna Koszarny, the Canadian-born head of Ukraine’s largest private equity group, Horizon Capital, there was never any question of stopping work or leaving the country when Russia launched its invasion in February 2022. But continuing to do business took resolve. “You’re in the centre of a hurricane,” she said.More
  
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• Historic homes for sale – in pictures

  23-02-2024 10:31
  
  From a rambling medieval hall house with nine bedrooms and a chapel to a fairytale cottage Continue reading...
  
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• Greener snowmaking is helping ski resorts tackle climate change

  23-02-2024 10:30
  
  As a warming world creates an existential threat for the ski industry, resorts are reducing how much energy they need to make it snowTrudging across the top of Bromley Mountain Ski Resort on a sunny afternoon in January, Matt Folts checks his smartwatch and smiles: 14 degrees fahrenheit. That is very nearly his favorite temperature for making snow. It’s cold enough for water to quickly crystallize, but not so cold that his hourslong shifts on the mountain are miserable.Folts is the head sn
  
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• Energy price cap in Great Britain to fall to £1,690 from April, its lowest in two years

  23-02-2024 09:01
  
  Mild winter and falling wholesale gas prices lead to lower level, in boost for household finances• Business live – latest updatesThe energy price cap in Great Britain will fall by £238 to £1,690 this spring thanks to a mild winter and lower gas prices, easing pressure on household finances.Set by energy regulator Ofgem, the cap reflects the average annual bill for 29 million households in England, and takes effect from April. It is a 12.3% reduction from £1,928 in th
  
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• Hire power: what to wear for a job interview

  23-02-2024 07:00
  
  Pinstripes, a sensible-but-chic bag and chunky jewellery – our styling editor has looks to make you stand out for all the right reasons Continue reading...
  
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• Huge cybersecurity leak lifts lid on world of China’s hackers for hire

  23-02-2024 06:00
  
  Leaked files shows range of services offered and bought, with data harvested from targets worldwideA big leak of data from a Chinese cybersecurity firm has revealed state security agents paying tens of thousands of pounds to harvest data on targets, including foreign governments, while hackers hoover up huge amounts of information on any person or institution who might be of interest to their prospective clients.The cache of more than 500 leaked files from the Chinese firm I-Soon was posted on t
  
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