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- Sainsbury boss delivers tax warning to government ahead of Budget
Sainsbury’s chief executive Simon Roberts said the government appears to be listening to business after talks at No 11 Downing Street, and urged the chancellor to avoid significant increases to business taxes and labour costs in the autumn Budget next Wednesday. He also called for reform of the business rates system and measures to encourage hiring. For the 28 weeks to 12 September, total revenue rose 4.1% to £16.2 billion and grocery sales rose 2.9% to £13.2 billion, while fuel sales jumped 17.8% after the Iran war pushed up oil prices. Underlying operating profit was £525 million, up 3.6%, and the company said it is on track for full-year underlying operating profit of £1.025 billion to £1.065 billion, equivalent to £965 million to £1.065 billion due to the proposed sale of Argos.
- Do not repeat tax increases at Budget , Sainsbury boss urges Chancellor
- Do not repeat tax increases at Budget , Sainsbury boss urges Chancellor
- Do not repeat tax increases at Budget , Sainsbury boss urges Chancellor
- Do not repeat tax increases at Budget, Sainsbury boss urges Chancellor
- Do not repeat tax increases at Budget , Sainsbury boss urges Chancellor
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- A Bank Stock Is Being Accumulated by Securities Firm Proprietary Trading for Hundreds of Billions of VND This Weekend
Securities firms' proprietary trading net bought VND 12 billion on HOSE, led by ACB at VND 240 billion, followed by TCB (VND 55 billion), VPB (VND 26 billion) and VIC (VND 20 billion). On the other side, the group net sold most heavily at KBC at VND 204 billion, followed by TPB (VND 171 billion) and FPT (VND 23 billion). In the weekend session of 23/10, VN-Index dipped slightly on selling pressure in banking and securities stocks, then turned higher to close up 13.52 points (0.77%) at 1,774.15 points as buying improved. Foreign investors reversed course to net sell VND 470 billion after two consecutive sessions of net buying.
- Apple could be about to dethrone Nvidia as world's most valuable company
Despite mixed reviews of Apple's new foldable Duo smartphone, Apple's stock is still drawing investor support, with a market cap of $5.08 trillion, less than 1% below Nvidia's $5.12 trillion. Nvidia has been the world's most valuable company for more than two years, but its shares are down 7.3% over the past month as investors question the health of the AI trade, while Apple is up 2.5%. The article describes Apple as a more defensive play given its focus on hardware. On the same Thursday, the Nasdaq Composite fell nearly 2.6%, its worst single-day drop since June, after Meta posted negative free cash flow for the first time since 2012 amid heavy AI spending. Dan Ives, partner at Yorkville Ives, said about 375 million iPhones have not been upgraded in over 4 years, which he believes will keep Duo demand high well into 2027.
- History Says This Is What Happens to Mega-IPO Stocks in Their First 12 Months
The article points to the June IPO of Space Exploration Technologies (SpaceX) and SK Hynix's U.S. debut in July as examples of the challenges of IPO investing. Citing Warren Buffett's view that an IPO is a negotiated transaction in which the seller chooses the timing, it notes that companies typically go public during bull markets, and every past bull market has given way to a bear market. In the first year, sentiment often shifts from hype to fundamentals; if sales growth does not support valuations, the stock may underperform, and when lockup periods of often 180 days expire, insiders often sell and add pressure on prices. IPO stocks also typically need a seasoning period before joining indexes such as the S&P 500, so the author concludes that risks tend to outweigh rewards when investing in mega-IPO stocks in their first year.
- Boehringer and Microsoft collaborate to explore AI in clinical research
Boehringer Ingelheim and Microsoft have launched a strategic collaboration to explore AI in clinical research, starting with lung health studies. The focus is on digital patient twins, computer-based models of individual patients built from clinical data, to test whether they can forecast disease progression and patient outcomes. The companies will assess whether these models can serve as synthetic or hybrid control arms, potentially reducing the number of participants in control groups, streamlining trial design and speeding up evidence generation. If successful, the approach could improve drug development efficiency and allow more trial participants to receive experimental treatments. The alliance also covers data centre modernisation and technical security, with further joint initiatives under review in animal health and commercial processes.
- Investors Just Got Bad News From the Federal Reserve. Here's What History Says Comes Next.
The Fed has raised rates only once so far, yet futures are pricing in three more quarter-point hikes by mid-2027. Long-term yields are starting to stabilize and the S&P 500 is near all-time highs on AI-driven earnings growth, but the latest Fed minutes point to keeping rates higher for longer. Historically, aggressive hikes in 1994 left the S&P 500 with a small return that year before a strong rally the following year, while tightening of more than four percentage points from 2004 to 2006 still produced positive returns. In 2022, however, both stocks and bonds fell sharply as the Fed responded too late. The author suggests buy-and-hold may be the most suitable approach for investors with a horizon of 10 years or more, and notes that funds such as VOO still hold about 40% in tech and 40% in the 10 largest companies, which could leave portfolios exposed to a correction.
- HSBC rolls out its first stablecoin to over 3 million everyday app users
HSBC has launched RedCoin (RCHKD), its first stablecoin, on its PayMe app, letting more than 3.3 million users send money to friends and family and pay at over 100,000 merchants. Users will be able to activate a stablecoin wallet in the app over the coming days. RedCoin will be fully backed by high-quality liquid assets held in separate accounts. The rollout follows the Hong Kong Monetary Authority's April decision to grant its first stablecoin issuer licenses to HSBC and Anchorpoint Financial, a Standard Chartered-led venture. HSBC plans to add a RedCoin wallet to its Hong Kong mobile banking app later this year, allowing customers to buy tokenized investment products, including a new share class of its existing Hong Kong dollar money market fund.
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