Morning, I’m Louise Moon from Bloomberg UK’s breaking news team, bringing you up to speed on today’s top business stories. The results are in, and the London Stock Exchange Group is in for a big old spring clean. Activist investor Elliott, which was last week reported to have taken a “significant” stake in the owner of the FTSE 100 index, is pushing for a review of the LSEG’s complex structure and...
Morning, I’m Louise Moon from Bloomberg UK’s breaking news team, bringing you up to speed on today’s top business stories. The results are in, and the London Stock Exchange Group is in for a big old spring clean. Activist investor Elliott, which was last week reported to have taken a “significant” stake in the owner of the FTSE 100 index, is pushing for a review of the LSEG’s complex structure and for it to pursue a £5 billion share buyback over the next 12 months. Plus, Elliott wants LSEG to be better at educating investors on how it could benefit from AI, improve margins and close a gap with peers. The revamp is another big UK campaign for Paul Singer’s hedge fund, on top of its ongoing mission at BP, and piles even more pressure on the LSEG. It’s already grappling with a drop in initial public offerings. Shares, which have been caught up in the recent software selloff, had plunged 37% over the year before details of Elliott’s investment became public . Since then, the stock is up almost 6%, and ticked just higher in early trading this morning. What’s your take? Ping me on X , LinkedIn or drop me an email at lmoon13@bloomberg.net. Oh, and do subscribe to Bloomberg.com for unlimited access to trusted business journalism on the UK, and beyond. What We’re Watching Miner Rio Tinto ’s full-year profit came in flat as improvements in copper and aluminium failed to offset tariffs, restructuring costs, and its high exposure to a weaker iron ore market. It shows why miners are mulling mergers, to increase exposure to metals like copper. Rio abandoned talks of a tie-up with Glencore earlier this month. The value of land for new housing may have bottomed, according to Knight Frank , as easing borrowing costs and planning changes boost developers’ appetite to build. It said demand-side stimulus was still needed, as has been argued by many homebuilders of late. The government has proposed rules for tech firms to remove abusive images within 48 hours . Companies that fail to do...
Drop of almost 39% for Centrica comes after mild weather meant households used less gas and electricity Business live – latest updates The owner of British Gas has paused its plan to buy back shares from shareholders after the company’s full-year profits slumped by almost 39%. Centrica reported adjusted earnings of £1.42bn for 2025, down from £2.3bn the year before, after a “challenging” year for ...
Drop of almost 39% for Centrica comes after mild weather meant households used less gas and electricity Business live – latest updates The owner of British Gas has paused its plan to buy back shares from shareholders after the company’s full-year profits slumped by almost 39%. Centrica reported adjusted earnings of £1.42bn for 2025, down from £2.3bn the year before, after a “challenging” year for the business as it undertakes a series of multibillion-pound investments. Continue reading...
Prime Minister Narendra Modi presented India as a hub for affordable and scalable artificial intelligence, saying innovations developed in the South Asian nation could be deployed globally. “Design and develop in India. Deliver to the world, deliver to humanity,” the Indian leader said during his keynote address at an AI summit in New Delhi. The event, billed as the largest AI conference held in a...
Prime Minister Narendra Modi presented India as a hub for affordable and scalable artificial intelligence, saying innovations developed in the South Asian nation could be deployed globally. “Design and develop in India. Deliver to the world, deliver to humanity,” the Indian leader said during his keynote address at an AI summit in New Delhi. The event, billed as the largest AI conference held in a developing nation, has given Modi a platform to assert India’s role in a race largely dominated by the US and China. The government used the gathering to showcase the country’s vast, tech-savvy population and deep engineering talent as evidence that it can offer an alternative to AI models shaped by major global technology firms. “Some countries and companies think AI is a strategic asset. But India believes AI will be helpful for the world only if shared, and codes are open,” Modi said, underscoring the need to democratize AI. “We have the talent, energy capacity, and also the policy clarity.” Over a dozen heads of state, including leaders from France and Brazil, are attending the summit this week, along with top executives from AI heavyweights such as OpenAI , Alphabet Inc. and Anthropic PBC. Several major companies used the summit to announce billions of dollars in AI-related investments. In one of the largest deals unveiled so far, OpenAI partnered with Indian conglomerate Tata Group to build a data center starting at 100 megawatts of capacity, with plans to scale up to 1 gigawatt. At the upper end, a 1-gigawatt facility can cost between $35 billion and $50 billion. Read More: OpenAI to Partner With Tata for AI Data Center Buildout in India Billionaire Gautam Adani ’s group also said it plans to invest $100 billion by 2035 to build AI-ready data centers, underscoring the scale of private-sector backing for Modi’s ambition to position India as an AI hub. More than $200 billion in AI investments are expected over the next two years, Technology Minister Ashwini Vaishnaw t...
Iran and the United States leaned into gunboat diplomacy Thursday, with Tehran holding drills with Russia and the Americans bringing another aircraft carrier closer to the Mideast. (Image credit: Mass Communication Specialist 2nd Class Ridge Leoni/AP)
Iran and the United States leaned into gunboat diplomacy Thursday, with Tehran holding drills with Russia and the Americans bringing another aircraft carrier closer to the Mideast. (Image credit: Mass Communication Specialist 2nd Class Ridge Leoni/AP)
U.S. President Donald Trump and British Prime Minister Keir Starmer hold a press conference following their meeting at Chequers, near Aylesbury, Britain, Sept. 18, 2025. Kevin Lamarque | Reuters U.S. President Donald Trump has once again criticized the U.K.'s plan to hand the Chagos Islands back to Mauritius, telling the country not to "give away" the territory where a strategic U.S.-U.K. military...
U.S. President Donald Trump and British Prime Minister Keir Starmer hold a press conference following their meeting at Chequers, near Aylesbury, Britain, Sept. 18, 2025. Kevin Lamarque | Reuters U.S. President Donald Trump has once again criticized the U.K.'s plan to hand the Chagos Islands back to Mauritius, telling the country not to "give away" the territory where a strategic U.S.-U.K. military base is located. "DO NOT GIVE AWAY DIEGO GARCIA!" Trump posted on his Truth Social media platform on Wednesday, saying he'd been telling British Prime Minister Keir Starmer that he should "not lose control, for any reason, of Diego Garcia." The U.K. agreed in May 2025 to hand sovereignty of the Chagos Islands to Mauritius , which has long-disputed the U.K.'s acquisition and ownership of the archipelago in the Indian Ocean. The deal would see the U.K. lease back the military base it shares with the U.S. on the largest island on the archipelago, Diego Garcia, for £101 million ($135.7 million) a year, for an initial 99-year period. The U.S. previously voiced support for the deal and, on Tuesday, the Department of State said it "supports the decision of the United Kingdom to proceed with its agreement with Mauritius concerning the Chagos archipelago." Trump seesaws on the deal Trump is not the biggest fan of the Chagos deal, however, and he has seesawed on the issue of ceding the territory to Mauritius. In January, he called the deal "an act of great stupidity," but he was more conciliatory in early February, stating: "I understand that the deal Prime Minister Starmer has made, according to many, the best he could make," he commented on Truth Social. "However, if the lease deal, sometime in the future, ever falls apart, or anyone threatens or endangers US operations and forces at our base, I retain the right to militarily secure and reinforce the American presence in Diego Garcia," he added. Diego Garcia, a British Indian Ocean Territory and the largest of the islands in the C...
Defense contractors typically navigate miles of red tape, mountains of paperwork, and months-long approval processes. Palantir just moved into the fast lane.
Defense contractors typically navigate miles of red tape, mountains of paperwork, and months-long approval processes. Palantir just moved into the fast lane.
Key PointsPalantir announced that its Palantir Federal Cloud Service (PFCS) Forward received an important authorization from the Defense Information Systems Agency.
Key PointsPalantir announced that its Palantir Federal Cloud Service (PFCS) Forward received an important authorization from the Defense Information Systems Agency.
Getty Images Strategy overview The Voya Solution Portfolio Series is designed to specifically balance the evolving risk-return profiles of participants as they age to maximize the probability of a successful retirement. Key takeaways Global markets ended the year strong despite volatility from the U.S. government shutdown, softening job growth, and elevated valuation concerns. Foreign equities out...
Getty Images Strategy overview The Voya Solution Portfolio Series is designed to specifically balance the evolving risk-return profiles of participants as they age to maximize the probability of a successful retirement. Key takeaways Global markets ended the year strong despite volatility from the U.S. government shutdown, softening job growth, and elevated valuation concerns. Foreign equities outperformed, while fixed income delivered positive but muted returns. Equity fundamental factors remain supported by steady economic growth, easing inflation, and ongoing investment in productivity-enhancing technologies, while solid corporate balance sheets and gradually improving financial conditions create a constructive backdrop for earnings and risk assets. The Portfolios posted positive absolute and positive relative returns for the period, outperforming their strategic allocation benchmarks on a gross- and net-of-fees basis. Market review Global markets ended the year strongly despite disruptions. The U.S. government shutdown weighed on sentiment, adding volatility amid slowing job growth and concerns over elevated artificial intelligence ('AI') valuations. Supportive earnings and central bank accommodation sustained risk appetite. The U.S. Federal Reserve continued easing, cutting rates 25 basis points in October and December, while expectations for further cuts fluctuated. U.S. equities posted modest gains, though leadership shifted. Large cap value outperformed growth, reflecting rotation away from concentrated technology exposures, while defensive sectors such as health care led amid valuation concerns. Small cap stocks also rose but lagged large caps. International equities outperformed on stronger earnings momentum and more attractive valuations. Japan benefited from renewed political clarity under Prime Minister Sanae Takaichi, reinforcing reform expectations. Emerging markets ('EM') were mixed; some regions gained from global growth and AI investment, while Chi...
Broadcom (NasdaqGS:AVGO) reports a record US$73b AI-related backlog tied to its custom accelerators and networking products. Hyperscalers, including Google, are increasing orders for Broadcom's custom AI chips, highlighting demand for tailored silicon. Anthropic becomes Broadcom's fourth custom chip customer, expanding the company's footprint across leading AI model providers. ARK Invest and other...
Broadcom (NasdaqGS:AVGO) reports a record US$73b AI-related backlog tied to its custom accelerators and networking products. Hyperscalers, including Google, are increasing orders for Broadcom's custom AI chips, highlighting demand for tailored silicon. Anthropic becomes Broadcom's fourth custom chip customer, expanding the company's footprint across leading AI model providers. ARK Invest and other institutional investors have recently added to positions in Broadcom, citing the company's AI...
Social Security is an important program that millions of older Americans rely on. So when changes happen, you might assume they'd be pretty well publicized. You may have heard, for example, that Social Security benefits got a 2.8% cost-of-living adjustment in 2026. That was all over the news late last year and early this year. Image source: Getty Images. Continue reading
Social Security is an important program that millions of older Americans rely on. So when changes happen, you might assume they'd be pretty well publicized. You may have heard, for example, that Social Security benefits got a 2.8% cost-of-living adjustment in 2026. That was all over the news late last year and early this year. Image source: Getty Images. Continue reading
European stocks retreated from Wednesday’s record close after underwhelming earnings from the likes of Airbus SE and Renault SA , with investors also monitoring geopolitical risks. The Stoxx Europe 600 Index was down 0.5% by the close. Banks and industrial goods underperformed, while the real estate and food and beverages sectors were among the biggest gainers. Airbus dropped 6.8% after it said th...
European stocks retreated from Wednesday’s record close after underwhelming earnings from the likes of Airbus SE and Renault SA , with investors also monitoring geopolitical risks. The Stoxx Europe 600 Index was down 0.5% by the close. Banks and industrial goods underperformed, while the real estate and food and beverages sectors were among the biggest gainers. Airbus dropped 6.8% after it said the lack of reliable engine supplies for its A320 family of jets is holding back production and aircraft deliveries. Renault fell 3.1% after the carmaker said it expected profitability to decline this year as it rolls out lower-priced electric models. Nestle SA gained 3.9% after it said sales growth would likely quicken this year under its new chief executive officer. Air France-KLM rallied 12% as it reported better-than-expected earnings and remained upbeat about the lucrative North Atlantic routes. Europe’s benchmark index is wobbling after scaling record highs as investors monitor the outlook for interest rates and economic growth. Meanwhile, the head of the United Nations nuclear watchdog said the US military build-up in the Middle East means Iran’s window to reach a diplomatic agreement over its atomic activities is at risk of closing. “Geopolitical landscape still remains fragile right now,” said Richard Saldanha , global equity fund manager at Aviva Investors. “The weakness you’re seeing today is around the oil price spike on concerns over potential US military intervention in Iran.” Meanwhile, the corporate earnings season has been slightly ahead of expectations. MSCI Europe companies have posted a 3.6% increase in fourth-quarter profits, compared with analyst estimates of 1.3%, according to data compiled by Bloomberg Intelligence . Elsewhere, Rio Tinto Group fell 3.7% as it posted flat full-year profit, with improvements in copper and aluminum failing to counter a combination of one-off restructuring costs, US tariffs and China’s drag on its key iron ore unit. For mo...
Earnings Call Insights: Carvana Co. (CVNA) Q4 2025 Management View Ernest Garcia, CEO, emphasized Carvana's accelerating growth and differentiation, stating "both volume and financial performance are moving up and to the right rapidly." He attributed these gains to a unique customer proposition, highlighting a 20,000 increase in customer selection, delivering vehicles a day faster, and $60 savings...
Earnings Call Insights: Carvana Co. (CVNA) Q4 2025 Management View Ernest Garcia, CEO, emphasized Carvana's accelerating growth and differentiation, stating "both volume and financial performance are moving up and to the right rapidly." He attributed these gains to a unique customer proposition, highlighting a 20,000 increase in customer selection, delivering vehicles a day faster, and $60 savings in shipping fees per customer. Garcia also noted a 1% reduction in customer interest rates and record Net Promoter Scores, with multiyear highs. Garcia outlined three key takeaways: becoming more differentiated at scale, making rapid progress toward a goal of 3 million retail units annually and a 13.5% adjusted EBITDA margin, and possessing the infrastructure to scale, particularly in reconditioning, with 34 reconditioning centers and real estate to support 3 million units per year. Garcia added that "we have the infrastructure to scale and we just need to execute," stressing the operational intensity of vehicle reconditioning and the need for continual improvement in management systems and automation. Mark Jenkins, CFO, stated, "2025 was an exceptional year for Carvana," citing a 43% increase in retail units sold to 596,641 for the year and a record adjusted EBITDA margin of 11%. Jenkins highlighted the integration of 10 new ADESA locations, expansion of digital auction capabilities, and multiyear customer NPS highs, calling Carvana "the fastest-growing and most profitable company in our industry." Jenkins further reported, "Retail units sold totaled 163,522 in Q4, an increase of 43% and a new company record. Revenue was $5.603 billion, an increase of 58%." Outlook Jenkins stated the company plans to "maintain our 3 key objectives from 2025, while placing additional weight on driving significant profitable growth at scale." Looking forward, he said, "assuming the environment remains stable, we expect significant growth in both retail units sold and adjusted EBITDA in full...