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Cabinet Minister Gove Joins Tory MP Exodus Before UK Election

Cabinet Minister Gove Joins Tory MP Exodus Before UK Election

Cabinet Minister Michael Gove resigns as a member of Parliament, impacting Conservative Party's chances in upcoming election. Gove's departure adds to Tory exodus, raising concerns about safe districts. His exit increases scrutiny on Chancellor Jeremy Hunt. Gove played key roles in Brexit and Conservative leadership struggles. This summary is based on an automated news feed.

European Stocks Slip as Fed Rate Cuts Doubts Weigh on Sentiment

European Stocks Slip as Fed Rate Cuts Doubts Weigh on Sentiment

European stocks slipped on Friday as doubts rose about the Federal Reserve cutting US interest rates. The Stoxx 600 Index closed 0.2% lower amid expectations of no rate cut before December. Data showing tempered US inflation expectations in late May helped offset losses. Utilities led declines, while DS Smith Plc slid on acquisition uncertainty. Renault SA gained and TotalEnergies SE edged up. Fed policymakers signaled no rush to cut rates, but the Stoxx index has gained over 3% this month.

Colombia Bonds, Peso Drop After Petro’s Debt Ceiling Threats

Colombia Bonds, Peso Drop After Petro’s Debt Ceiling Threats

Colombia's bonds and currency dropped as President Gustavo Petro threatened to stop payments if the debt ceiling isn't raised. Finance ministry expects Congress to pass the bill by June 20. Peso weakened, bonds dipped. Analysts believe the debt ceiling increase will likely be approved as in previous years. Petro's actions may cause market fluctuations. Congress is discussing a $17.6 billion debt ceiling raise.

Japan issues fresh warning on yen drops, signals readiness to intervene

Japan issues fresh warning on yen drops, signals readiness to intervene

Japan's top currency diplomat, Masato Kanda, stated that Japan is prepared to act against excessive yen volatility, in close contact with the US. Kanda emphasized the need for action if currency moves are unstable and justified intervention. Japan aims to reaffirm the G7's stance on volatile currency moves in the upcoming communique. The yen's recent decline and suspected interventions were also addressed.

Intuit lifts annual forecasts on demand for AI-powered financial products

Intuit lifts annual forecasts on demand for AI-powered financial products

Intuit reported higher third-quarter revenue and raised annual forecasts due to strong demand for its tax filing software TurboTax and AI-integrated products. The company's revenue rose 12% to $6.74 billion, with expectations of annual revenue between $16.16 billion and $16.20 billion. Intuit's CEO mentioned plans to test AI-driven SKUs and highlighted a return to a more normal tax season post-COVID. Joe Kauffman will succeed Ken Lin as CEO of Credit Karma on Aug. 1.

Rite Aid Reassures Creditors it Will Survive Chapter 11

Rite Aid Reassures Creditors it Will Survive Chapter 11

Rite Aid assures creditors of survival in Chapter 11, working on rescue deal with banks and bondholders, facing delays and hurdles including CEO's controversial compensation. Confirmation hearing targeted in 3 to 4 weeks. Bondholders pushing for successful restructuring.

Citigroup asks 600 staffers to return to office full-time

Citigroup asks 600 staffers to return to office full-time

Citigroup asks 600 U.S. employees to return to office full-time due to regulatory requirements. FINRA is set to bring back pre-pandemic rules for monitoring workplaces. Citi employees will work on a hybrid schedule. Barclays mandates global investment banking staff to work in the office five days a week from June 1. HSBC is discussing remote work options with its New York workforce. (Source: Reuters)

A Memorial Day Challenge for Pro-Palestinian Protesters

A Memorial Day Challenge for Pro-Palestinian Protesters

Hillary Clinton's criticism of young pro-Palestinian protesters sparked backlash. The protesters were accused of lacking historical knowledge. To counter this, a proposal suggests honoring Memorial Day by joining a parade, placing flowers on soldiers' graves, and showing solidarity. This approach could help protesters gain more support. The article emphasizes the importance of understanding history and showing respect for those who fought for freedom.

Saudi Aramco interested in buying minority stake in Repsol's renewable unit, sources say

Saudi Aramco interested in buying minority stake in Repsol's renewable unit, sources say

Saudi Aramco is eyeing a minority stake in Repsol's renewable unit, as the Spanish company seeks investors for its wind and solar projects. Repsol Renewables is valued at 5.9 billion euros, with Aramco interested in its U.S. assets. Repsol has engaged Santander for the sale, following a previous deal with Credit Agricole and Energy Infrastructure Partners. Aramco and Repsol have not commented on the matter.

What comes next for Ohio's teacher pension fund? Prospects of a 'hostile takeover' are being probed

What comes next for Ohio's teacher pension fund? Prospects of a 'hostile takeover' are being probed

A battle for Ohio's $94 billion teacher pension fund unfolds as reformers seek benefits for retirees through an AI-driven trading strategy. Allegations of misconduct, political interference, and a lawsuit add to the drama. Reformers aim for transparency amid concerns about risky investments, while opponents warn of a potential threat to the fund's solvency. The Ohio Retirement for Teachers Association defends reformers, emphasizing the need for change.

Zaggle Q4 results: During the quarter under review, Zaggle's operating revenue rose 46% to  ₹273.37 crore against  ₹186.85 crore in the January-March period of FY23

Zaggle Q4 results: Profit doubles to 19.15 cr over increase in other incomes

SaaS fintech platform Zaggle Prepaid Ocean Services reported a consolidated net profit of 19.15 crore in the March 2024 quarter, more than double the year-ago period. Operating revenue rose 46%, reaching 273.37 crore. The company aims to double revenue in the next two years through organic growth, technology investments, and potential mergers and acquisitions. Zaggle also plans to expand into the US market.

Suzlon Energy Q4 results: Total income rose to  ₹2,207.43 crore in the quarter from  ₹1,699.96 crore in the same period a year ago

Suzlon Energy Q4 results: Net profit down 21% to 254 crore

Renewable energy provider Suzlon Energy saw a 21% drop in net profit to 254 crore in the March quarter due to exceptional items. Total income rose to 2,207.43 crore. For the full fiscal year, net profit declined to 660 crore, while total income increased to 6,567.51 crore. The company's order book stands at 3.3 GW.

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