Category: News
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Danone, like Swiss competitor Nestle, is doubling down on foods for an aging population
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Danone, the French yoghurt maker in transition, is stepping up investment in nutritious drinks for cancer patients and the elderly, betting that an aging population will boost long-term growth. The medical nutrition unit will be a big part of the next phase of Danone’s recovery efforts, after CEO Antoine de…
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Rich parastatals face cash squeeze in Treasury raid
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Cash-rich parastatals are bracing for tough times after the state moved to raid their coffers in a move that will also see them hand over their surplus cash to the Treasury rather than investing in government paper. President William Ruto’s administration is eyeing at least Sh708.43 billion held by parastatals…
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Tesco Sees Surge in Sales as Shopper Confidence Rebounds
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Tesco, the UK’s largest retailer, has reported a marked increase in shopper confidence, reflected in “strong” sales growth over the past three months. The supermarket giant saw a nearly 5% rise in UK sales, as shoppers bought more items and switched to Tesco from rivals. The increase in sales was…
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Nova nears record $7b market cap
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The Israeli company’s share price has risen 73.2% since the beginning of the year and is trading at an all-time record high of $238. Israeli company NOVA LIMITED. (Nasdaq:Nefimy; level:Nefimy, which provides measurement devices for advanced process control used in semiconductor manufacturing, saw its stock price rise 8.4% last week…
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Oil prices fall on weaker US consumer demand, China data By Reuters
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Written by Colin Howe and Mohi Narayan NEW DELHI (Reuters) – Oil prices fell in Asian trading on Monday after a survey on Friday showed weak US consumer demand and with crude production rising in May in China, the world’s largest crude importer. Global futures for August delivery fell 29…
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Popular Arbitrage Trade Backfires as TSMC Frenzy Grows in US
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(Bloomberg) — The long-favored arbitrage strategy of buying shares of Taiwan Semiconductor Manufacturing Co. in Taipei while shorting its shares in the U.S. is starting to get painful. Most read from Bloomberg Data compiled by Bloomberg showed that enthusiasm for artificial intelligence in the United States has pushed TSMC’s American…
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Fisher Investments sells minority stake to Advent International
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pakphum patjangkata / iStock via Getty Images Advent International has agreed to buy a minority stake in money manager Fisher Investments, the companies announced Sunday. Advent and the Abu Dhabi Investment Authority agreed to invest between $2.5 billion and $3 billion in a deal that values Fisher at about $13…
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Bill Gates is ready to plow billions into his startup’s nuclear plant
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Bill Gates said he is ready to pump billions of dollars into a next-generation nuclear power plant project in Wyoming to meet the United States’ growing electricity needs. TerraPower LLC, a startup founded by Gates, began construction on its first commercial reactor last week in Wyoming, where a coal plant…
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Kenya Airways quietly extends CEO Allan Kilavuka’s contract
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Kenya Airways has quietly extended CEO Allan Kilavuka’s term by three years until April 2026, the national carrier’s chairman Michael Joseph confirmed on Friday. Mr Kilavuka was first appointed as CEO of KQ Group in April 2020. He held the acting position between January and March 2020 following the exit…
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Saudi Arabia Attracts British Lawyers with Lavish Perks and High Salaries
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Crown Prince Mohammed bin Salman is luring British lawyers to work on mega projects in Saudi Arabia with luxury benefits, including free housing and private school fees for their children. These concessions are part of a broader strategy to attract the best talent to help achieve the Crown Prince’s Vision…
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Yemen’s Houthis say they attacked two ships and American destroyer By Reuters
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CAIRO (Reuters) – Yemen’s Houthis said on Sunday they attacked two civilian ships along with a U.S. destroyer in the Red Sea and Arabian Sea in their latest effort to disrupt shipping in what they say is support for Palestinians in Gaza. The Houthi military spokesman, Yahya Saree, said in…
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Yemen’s Houthis say they attacked two ships and American destroyer By Reuters
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CAIRO (Reuters) – Yemen’s Houthis said on Sunday they attacked two civilian ships along with a U.S. destroyer in the Red Sea and Arabian Sea in their latest effort to disrupt shipping in what they say is support for Palestinians in Gaza. The Houthi military spokesman, Yahya Saree, said in…
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5 Reasons Nvidia Isn’t in an AI-Fueled Bubble
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The stock market has a long history of creating bubbles, especially in the technology sector. However, when it comes Nvidia (Nasdaq: NVDA), the chipmaker’s stunning valuation may not actually be a sign of a bubble. Rather, it may reflect a deeper truth about the rapidly evolving state of artificial intelligence.…
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Federal Reserve is well poised to be patient on rate moves, Kashkari says
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LD The Federal Reserve is in a good position to monitor economic data and be patient about cutting interest rates, Minneapolis Bank President Neel Kashkari said Sunday. “We need to see more evidence to convince us of that “Inflation is on our way back to 2%,” Kashkari said on CBS’…
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Elon Musk’s Neuralink forced a pregnant employee to work with herpes-infected monkeys: lawsuit
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Elon Musk’s brain-implant startup Neuralink Corp. forced an employee to work with monkeys carrying the herpes B virus in conditions where the animals scratched her bare skin, according to a complaint filed Friday in California state court. Employee Lindsay Short said that once she moved to the company’s Fremont, California,…
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How diesel consumers are subsidising petrol
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The Energy Regulatory Authority has maintained cross-subsidy on super petrol, bringing down prices of the commodity by a higher margin but depriving diesel consumers of deeper price cuts. Super petrol prices fell by Sh3 per liter to Sh189.84 as of midnight on Friday, driven by a combination of a cross-subsidy…