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Alibaba to Split into Six Units

March 28 Reuters Alibaba Group Holding Ltd said it plans split its business into six main units covering ecommerce, media and the cloud, adding that each of the units will explore fundraising or initial public offerings. Alibaba39;s U.S.listed shares rose 7 in premarket trading. Here are comments from analysts ART HOGAN, CHIEF MARKET STRATEGIST AT B RILEY […]
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BP, ADNOC Offer to Buy 50 of Israels NewMed Energy

LONDON, March 28 Reuters BP and Abu Dhabi39;s state oil giant on Tuesday offered to acquire 50 of Israeli offshore natural gas producer NewMed Energy for around 2 billion, making their entry into Israel39;s growing energy sector. The offer would involve acquiring NewMed39;s free floating shares and taking the company private. BP shares gained 2 by 0810 […]
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UK Grocery Inflation Hits new High of 17.5 Kantar

Grocery inflation in March at highest level ever recorded Milk, eggs and cheese show fastest price rises Shoppers face 837 pounds rise in annual grocery bill LONDON, March 28 Reuters British grocery inflation rose again in March to a record 17.5, inflicting yet more pain on consumers battling a costofliving crisis, industry data showed on […]
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US Regulators to Face Sharp Questions from Congress over Bank Collapses

WASHINGTON, March 28 Reuters Lawmakers are expected to put top U.S. bank regulators on the defensive over the unexpected failures of regional lenders Silicon Valley Bank and Signature Bank when they testify before Congress on Tuesday. Top regulatory officials for the Federal Reserve, Federal Deposit Insurance Corporation FDIC and Treasury Department are testifying before congressional […]
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Crudes Price Rising; Sound, Resilient U.K. Banking System

PREVIOUS TRADING DAY EVENTS 27 March 2023 Announcements  BoE Gov. Bailey said interest rates will probably remain below the highs seen before the financial crisis. The U.K. central bank may stop the rate hikes. The decisions on rates wont be affected by the crisis hitting the global banking system. Moreover, the monetary policy function and […]
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