Business

A coalition led by Hollywood actor-turned-investor Ashton Kutcher has bought Soho House, the private members' club chain, for an astounding $2.7 billion (£2 billion). Beginning its first club in London in 1995, this group has grown to include 46 Soho Houses across Europe, North America, and Asia in addition to a number of other high-end hospitality projects. Widely known as a preferred meeting spot for A-list celebrities, Soho House hosted Meghan Markle and Prince Harry’s first date at one of its London sites. Following its listing on the New York Stock Exchange in 2021, however, the value of its shares has dropped noticeably as the company has had difficulties reaching profitability amid beliefs that it has lost some of its previous exclusivity. The negotiated offer price of $9 per ...

Following the announcement by Softbank, a major Japanese technology investment company, about its purchase of a $2 billion (£1.5 billion) interest in the American computer chip business, Intel's stock shot up. Originally revealed last week, the suggested agreement is meant to enable Intel to build a big manufacturing facility in Ohio. Until there is a formal announcement, a White House spokeswoman told the BBC that these accounts should be regarded as nothing more than conjecture. For remarks on this subject, the BBC contacted Intel as well as the White House. According to the agreement made public on Monday, Softbank will pay $23 for every Intel share. The two companies released a joint statement, “The investment comes as both Intel and SoftBank deepen their commitment to investing ...

As investors awaited meetings between U.S. President Donald Trump and Ukrainian President Volodymyr Zelenskyy, the majority of Asia-Pacific markets saw an upward trend on Monday. Friday saw the conclusion of the recent U.S.-Russia meeting meant to address the continuous standoff between Kyiv and Moscow without negotiating a truce. Driven by excellent results in the consumer cyclicals, healthcare, and industrial sectors, the Nikkei 225 index in Japan jumped 0.77% to close at a record high of 43,714.31. According to LSEG statistics, the best-performing companies included a 10.2% jump for one, a 7.79% gain for another, and CyberAgent Inc., which recorded a 7.67% boost. Furthermore, Japan’s overall Topix index rose 0.43% to 3,120.96. The Kospi index in South Korea reversed its prior two-...

Earlier in the week, U.S. stock index futures rose slightly, instilling a sense of cautious optimism as investors concentrate on two major subjects: quarterly earnings reports from retailers and the very much anticipated Federal Reserve symposium in Jackson Hole. Early trading noted minor increments in the major indexes, including Dow futures, S&P 500 futures, Figma IPO, and Nasdaq 100 futures. This upside move follows a strong and bullish recovery over two weeks, which brought the Dow near the all-time highs amidst the uncertainties of possible interest rate decreases. Big retail participants like Walmart, Target, Home Depot, and Lowe's release earnings reports that are closely watched on Wall Street. These earnings under U.S. futures rise will shed light on consumer behavior in re...

President Donald Trump declared on Thursday that he intended to nominate Stephen Miran, a major supporter of the government’s tariff policy, to briefly hold a seat on the Federal Reserve’s Board of Governors. Widely known for laying the groundwork for Trump’s comprehensive tariff policy, Miran now heads the Council of Economic Advisers and has continuously supported Trump's economic efforts since she assumed her position. Stephen Miran is replacing Adriana Kugler, named by former President Joe Biden in 2023, who has stepped down. Her tenure was meant to end in January, but last week she suddenly declared her resignation without giving any justification for her leaving. “I believe this role is rather important for the president,” Miran told CNBC on Wednesday. If the Senate confirms hi...