T-Mobile to buy US Cellular, ’s wireless operations in $4.4 billion deal
T-Mobile will buy almost all of US Cellular’s wireless operations, including customers, stores, and 30% of its spectrum assets, in a deal valued at .4 billion.
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Abercrombie & Fitch raises annual sales growth target as trendy styles drive demand
Abercrombie & Fitch raised its annual sales growth forecast and beat first-quarter estimates, with new and on-trend apparel and accessories driving demand at its Hollister and namesake brands.
Saudi Arabia sets up new Aramco share sale that could raise $13.1 billion
Saudi Arabia’s government filed papers to sell a new stake in state oil giant Aramco that could raise as much as .1 billion.
Ethereum ETF approval good for Bitcoin, Michael Saylor; Is Rebel Satoshi Arcade the next big thing?
The US SEC approved spot Ethereum ETFs on May 23rd, which is seen as a positive development for the crypto community. Michael Saylor believes that this approval could be particularly bullish for Bitcoin in terms of mainstream adoption. Rebel Satoshi Arcade, a new GameFi memecoin, is predicted to have a 65x jump after its market debut.
EU markets watchdog warns companies over calls with analysts
The European Securities and Markets Authority (ESMA) advised companies not to share market sensitive information with external analysts before financial statements are released.
Police investigating , €135,000 web fraud
Police are investigating a case of web fraud worth €135,000, where a 58-year-old man reported being conned after transferring money to buy shares in a company promising big profits.
Five UK market hotspots to watch ahead of the election
– Prime Minister Rishi Sunak called a summer election in the UK, surprising many and giving a modest boost to the pound.
– Keir Starmer’s Labour Party has been leading in opinion polls since Sunak took power in 2022.
– UK equities tend to be quite flat in the six months after a national election, with the FTSE 250 outperforming the FTSE 100.
– The pound is sensitive to election time, reflecting international investor opinion about the UK and expected government policies.
– Sectors like Natwest Group, housebuilders, and the water sector will be under scrutiny during the election.
– Bond market investors will closely examine the two parties’ spending plans, especially Labour’s, to ensure bond market stability.
– Credit default swap markets currently price the UK as if it had a higher credit rating than it actually does.
CySEC issues decisions on firm license withdrawals, public takeover exemption
CySEC recently announced decisions to withdraw licenses from Ganita Global Gateways UCITS V.C.I.C Platform PLC, Oval Money (Europe) Ltd, and Forextime Ltd.
Saudi Arabia plans Aramco share sale as soon as June, according to sources
Saudi Arabia is planning a multi-billion-dollar share sale in energy giant Aramco as soon as June, with the offering expected to raise around billion.
Corporate tax not rising for compliant listed companies
Tax rates for publicly-listed companies may remain unchanged in the upcoming fiscal year, with some changes in parlance that could affect the availing of lower tax rates. The base rate may see a rise for publicly listed companies, but compliance with cashless transactions could bring it back down to existing rates. Listed companies with free float up to 10% and above with cashless transactions would have tax rates of 20% and 22.5%. Noncompliance with the cashless transaction limit would result in higher tax rates. The government may also impose capital-gain taxes on individual investors for the first time if profits exceed Tk 4.0 million. The tax gap between listed and non-listed companies may be reduced by cutting corporate tax rates for non-listed companies by 2.5%. Capital-market experts believe that higher taxes and reducing the tax gap between listed and non-listed companies could discourage companies from entering the capital market. The government should focus on simplifying investment procedures rather than increasing taxes on the capital market.