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The UK’s FTSE 100 hit an all-time high on Friday, as the blue-chip index dominated by multinational companies overcame the drag of a domestic economy headed for recession. The FTSE added as much as 1.1 per cent on the day to trade at 7906.58, eclipsing its previous peak in May 2018, before closing at 7902.
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Adani Enterprises has called off its $2.4bn equity fundraising in the latest blow to Indian billionaire Gautam Adani, who has seen shares in his industrial empire tumble after a short seller made allegations of fraud and stock manipulation. The decision to pull the share sale and refund investors marks an abrupt turn after Adani Enterprises’
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The US economy logged better than expected growth in the final quarter of 2022, even as the Federal Reserve’s aggressive campaign to raise borrowing costs began to weigh more heavily on business activity. The world’s largest economy expanded 2.9 per cent on an annualised basis between September and December, according to data published by the
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The US and Germany will send main battle tanks to Kyiv, a significant increase of western military aid that was condemned by Russia and prompted cheers throughout Ukraine. The US will be sending 31 M1 Abrams tanks to Ukraine — or the equivalent of one Ukrainian tank battalion, senior Biden administration officials confirmed on Wednesday.
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Several senior Ukrainian officials have resigned after President Volodymyr Zelenskyy swiftly sought to defuse concerns over corruption at a time when he is requesting more western weaponry to repel Russian forces. “We have made personnel decisions . . . regarding officials of various levels in ministries and other central government bodies, in the regions, and in the law enforcement
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Microsoft has confirmed a “multibillion-dollar investment” in ChatGPT bot maker OpenAI, making its biggest bet yet that artificial intelligence systems have the power to transform the tech giant’s business model and products. Precise financial details have not been disclosed, though the company on Monday said it was investing billions of dollars in a “multiyear” agreement.
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Goldman Sachs’ profits plunged two-thirds last quarter, missing expectations and capping a grim year that has forced the bank to embark on its largest cost-cutting exercise since the financial crisis. It was the Wall Street bank’s fifth straight quarter of falling profits and Goldman has already moved to cut more than 3,000 jobs, slash bonuses
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