Author: Pop Card

China has initiated a formal investigation into Canadian canola imports, heightening trade tensions between the two nations. This move, which could potentially lead to new tariffs on a vital Canadian export, follows Canada’s recent decision to impose new border taxes on Chinese-made electric vehicles, steel, and aluminium. The investigation into Canadian canola comes just a week after Canada announced tariffs on various Chinese goods. Beijing has also announced its intention to challenge these tariffs at the World Trade Organization (WTO), labelling them as “discriminatory” and “unilateral”. The Canadian Minister of Agriculture expressed significant concern over China’s decision, stating that the…

A staggering $279 billion was wiped off Nvidia’s value following a massive sell-off in the US stock market. Nvidia, a leader in artificial intelligence technology, saw its shares plummet by 9.5%, pulling down the index of 30 leading US semiconductor companies by a sharp 7.8%. This drop came on the back of disappointing manufacturing data and economic uncertainty. The sell-off came just days after Nvidia revealed its quarterly results, which, despite showing a doubling in sales, failed to meet investor expectations. Tuesday’s trading marked one of the most significant declines since early August, with all three major Wall Street indices…

Volkswagen’s electric vehicle brand, Cupra, is facing a critical threat from proposed European Union tariffs on imports from China. The 21.3% tariff, introduced as part of the EU’s strategy to protect its car industry, could severely undermine the Cupra brand, which is a subsidiary of Volkswagen. According to Wayne Griffiths, CEO of both Seat and Cupra, the proposed tariffs could result in significant financial losses for the company, potentially wiping out its all-electric models. Cupra’s all-electric SUV, the Tavascan, designed in Spain but manufactured in China, is priced at around €52,000 (£43,800). Griffiths has stressed that increasing the price of…

Tombola, the Sunderland-based online gambling company, has achieved remarkable financial success for the year 2023. In its latest filing with Companies House, the firm disclosed a record revenue of £201.6 million, alongside a pre-tax profit of £50.7 million. This marks a significant improvement compared to previous reporting periods, showcasing the company’s rapid growth. Previously, Tombola adjusted its financial year to align with that of its parent company, Flutter Entertainment. This led to an eight-month reporting period ending in 2022, during which Tombola generated £117.4 million in revenue and posted a pre-tax profit of £25 million. By comparison, the full 12-month…

Airbnb has pushed back against claims that its platform is contributing to the rise in house prices in Bristol. In a recently commissioned report, the short-term rental platform stated that its operations have “no discernible impact” on either housing affordability or the availability of homes in the city. The research, conducted by EY, found that properties listed on Airbnb for 90 nights a year accounted for just 0.24% of Bristol’s total housing stock. On average, hosts in the city rent their homes for less than four days each month, highlighting the minimal involvement of Airbnb in the local property market.…

Revolution Bars has resumed trading on AIM, following the successful implementation of a comprehensive restructuring plan. The move aims to stabilise the bar and pub group, which operates under popular brands such as Revolution, Revolución de Cuba, and Peach Pubs. This restructuring effort was seen as critical to preventing the company’s collapse after a period of financial hardship. At the heart of the restructuring, Revolution Bars issued over 1.26 billion new ordinary shares, helping to inject much-needed capital into the business. Additionally, around 20% of its venues were closed as part of a strategic move to focus on profitability. This…

Specsavers has maintained its £15m interim dividend to its Guernsey-based parent company, Specsavers Optical Group, despite seeing a decline in profits for another year. This payout mirrors the amount from the previous financial year, signalling the company’s commitment to its stakeholders as it continues its global expansion efforts. Recent filings at Companies House reveal that Specsavers’ pre-tax profits dropped slightly, from £327.7m in the prior financial year to £323.6m for the year ending February 2024. This follows a more significant decline from the £449.5m reported in 2022, according to City AM. However, the company experienced a rise in turnover, growing…