Employees at British fast food chain Greggs were among those who benefited from the impressive earnings report, with the company's 2023 annual profit up 27%, resulting in 17.6 million yen from its 25,000 staff later this month. He plans to distribute a bonus of 1,000 pounds ($22.3 million).
The chain made pre-tax profits of £188.3m last year, up from £148.3m in 2022. Like-for-like sales increased by 13.7%.
The company distributes 10% of its profits each year to staff who have worked there for at least six months.
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Shares in London were up 4.3% by late morning.
Bitcoin (BTC-USD)
Bitcoin continued to rise on Tuesday, avoiding a record high against the dollar as positive sentiment boosted the market.
The cryptocurrency rose 3% in the past 24 hours, trading at around $67,000.
This rise is believed to be due to market confidence following the approval of a spot Bitcoin ETF in the US earlier this year and the upcoming halving event.
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Halving allows miners to optimize energy consumption and increase hashing power. This is intended for long-term network optimization.
Tesla (TSLA)
Tesla (TSLA) stock fell in pre-market trading on Monday and Tuesday on news that the EV maker announced price cuts in China, resulting in lower deliveries in February.
According to preliminary data released by China's PCA (Passenger Car Association) via Bloomberg, the company reported shipments of 60,365 vehicles from Giga's Shanghai plant in February. Shipments in February were down 16% from the previous month and 19% from the previous year, making the total shipments the lowest since December 2022.
Tesla shares fell 7.16% to close at their lowest since February 13, and are expected to fall another 2.2% after the U.S. market opens.
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Ford (F)'s stock price rose after the company's U.S. sales rose 10.5% in February compared to the same month last year.
Apple was hit with its first fine of 1.8 billion euros ($2 billion) by EU antitrust regulators on Monday. The rebuke is meant to prevent Spotify (SPOT) and other music streamers from promoting payment options outside of their app stores.
The decision has been under consideration since 2019, when Spotify opposed Apple's 30% App Store fee and payment limits.
“For a decade, Apple has abused its dominant market position in distributing music streaming apps through the App Store,” Margrethe Vestager, head of competition at the European Commission, said in a statement.
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“They did so by restricting developers from providing information to consumers about alternative, cheaper music services available outside of the Apple ecosystem, which is prohibited under EU antitrust rules. It’s illegal.”
The stock fell 2.4% on Monday and continued to decline in pre-market trading on Tuesday.
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