Global Sell Off on Fears of U.S. Recession!

MACRO NEWS

STORY 1

Stock indices around the world have slumped after weak manufacturing data and company earnings raised concerns that the US economy may be on its way to recession.

STORY 2

The new Labour government has shelved £1.3bn of funding promised by the Conservatives for tech and Artificial Intelligence (AI) projects according to the BBC.

STORY 3

Figures for retail footfall in the UK fell for a twelfth consecutive month as shoppers opted to spend on holidays and leisure rather than consumer goods.

STORY 4

City bosses have sounded the alarm on a hike in capital gains tax (CGT) today as Rachel Reeves rolls the turf for a sweeping round of tax raids at her first budget in October.

MICRO NEWS

- ADVFN #AFN is pleased to launch of ADVFN AI Intelligence

- Kinovo Plc #KINO confirm that it has completed the build of the final outstanding legacy project

- SkinBioTherapeutics #SBTX has raised £1.56m at 10.5p

- XP Factory #XPF will release its results for the 15 months ended 31 March 2024 on 2 September 2024. The Group has traded in line with the board's expectations in the first quarter of the financial year to March 2025

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