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  LONDON – The UK’s FTSE 100 edged closer to a record high in subdued year-end trading, as investors navigated a holiday-shortened session marked by low volumes, selective corporate news, and muted risk appetite across European markets. In quiet post-Christmas conditions, the blue-chip index slipped marginally by 4.15 points to close at 9,866.53 , hovering just below historic levels. The FTSE 250 , more exposed to domestic companies, outperformed, rising 0.4% to 22,407.51 , supported by merger activity and stock-specific moves. Deal Activity Lifts Mid-Cap Stocks The standout performer of the session was International Personal Finance , whose shares surged nearly 6% after agreeing to an all-cash takeover by BasePoint Capital . The revised offer of 235 pence per share represented a substantial premium to earlier valuations and was welcomed by the board as an opportunity for shareholders to crystallise value in cash. The transaction values the business at approximately £543 million ...

TOKYO – Japan’s technology investor SoftBank Group has fully completed its $40 billion investment in OpenAI , marking one of the largest private funding commitments in the history of the technology sector and significantly deepening founder Masayoshi Son’s long-term bet on artificial intelligence . The final tranche of the investment was transferred in late December, completing a payment schedule that sources say had originally been expected to stretch over roughly twelve months. The accelerated funding underscores SoftBank’s determination to position OpenAI as a foundational pillar in what Son has repeatedly described as the next global computing revolution. A Landmark Bet on Artificial Intelligence The OpenAI investment combines direct capital injections with syndicated participation from co-investors, reflecting SoftBank’s hybrid approach to deploying large-scale capital while spreading risk. Earlier phases included approximately $10 billion raised through syndication and an $8 ...

  LONDON – A new entrant is positioning itself quietly but deliberately in the competitive iGaming landscape. Plump.com has officially launched a modern betting and gaming platform designed to address long-standing industry pain points around usability, payment speed, and player control. Built without legacy infrastructure, Plump has opted for a clean technical foundation that prioritizes fast access, intuitive navigation, and transparent financial flows. The approach reflects a broader shift within online gambling platforms toward simplicity and operational efficiency rather than feature overload. Streamlined Onboarding and Immediate Access At the core of Plump’s proposition is a simplified registration process. New users can create accounts within seconds, reducing friction at the entry point — a recurring challenge across many online casino platforms. Deposits are supported through cryptocurrency payments , debit and credit cards, and widely used local payment methods, allo...

  BEIJING – China has sharply criticised the Netherlands over its handling of Nexperia , urging Dutch authorities to reverse what Beijing calls “serious mistakes” that risk destabilising the global semiconductor supply chain . The warning highlights growing tensions between the two countries as technology, security, and geopolitics collide in the chip sector. China’s Ministry of Commerce said on Wednesday that restrictions imposed on Nexperia — a chipmaker owned by China’s Wingtech Technology — are undermining the stability of global chip production at a time when supply chains remain fragile. Beijing called on The Hague to lift what it described as “artificial barriers” and restore normal business operations. The dispute centres on a decision made last September, when the Dutch government moved to take control of Nexperia, citing national security concerns . Although the order was suspended last month following diplomatic talks with China, the core measures remain in place, in...

  MOSCOW – A Ukrainian drone attack struck Russia’s Tuapse port and oil refinery on December 31, injuring two people, damaging key infrastructure, and triggering a fire that was later brought under control, according to officials in Russia’s Krasnodar region . The regional operational headquarters said the attack targeted the Black Sea port of Tuapse , home to Rosneft’s Tuapse oil refinery , one of Russia’s most important export hubs. The refinery has a processing capacity of approximately 240,000 barrels per day , making it a strategic asset in Russia’s energy network. Authorities said the drone strike caused a nighttime fire at the refinery site, with flames visible in photographs circulated on Telegram channels. Emergency services were deployed swiftly, and the fire was extinguished shortly after it broke out. Infrastructure damage and civilian impact According to local officials, the attack damaged refinery equipment , struck one port berth , and caused destruction beyond ...

  SOFIA— At the stroke of midnight on January 1, 2026, Bulgaria will officially become the 21st member of the Eurozone, marking its most significant geopolitical milestone since joining the European Union nearly two decades ago. The Balkan nation of 6.4 million people is set to retire the Lev , a currency that has served as a symbol of national identity since the late 19th century, in favor of the single European currency. While the transition is hailed by Brussels and Sofia’s political elite as a gateway to stability, it arrives during a period of intense political friction and deep-seated public skepticism regarding the cost of living. The "Shield" Against Instability Outgoing Prime Minister Rossen Jeliazkov has emerged as a primary defender of the move, arguing that the Euro will act as a "shield" for the EU’s poorest member state. Supporters of the transition point to several strategic advantages: Lower Transaction Costs: Eliminating exchange fees is expected...

  BEIJING— Relief has finally arrived for China’s manufacturing heartland, but it comes with a shadow of caution. For the first time since March, China’s factory activity returned to growth in December 2025. According to the National Bureau of Statistics (NBS), the official Purchasing Managers' Index (PMI) climbed to 50.1 , narrowly crossing the critical threshold that separates expansion from contraction. While this figure allows Beijing to secure its annual growth target of "around 5%" in the final hour, it masks structural fractures that could make 2026 a year of high-stakes transition. The Engine Shift: Domestic Resilience vs. Global Headwinds The December rebound was not driven by global demand, which remains sluggish, but by a surge in the domestic market. Ahead of the Lunar New Year festivities, factories ramped up production to meet local orders, pushing the New Orders Index to 50.8 . However, this internal momentum stands in sharp contrast to the export sector. ...

  AEON, the foundational payment and settlement layer built for the emerging AI-driven economy , has announced a strategic integration with X Layer , the high-performance Ethereum Layer 2 network developed by OKX. The partnership brings AEON’s scan-to-pay crypto payment functionality directly to X Layer, enabling seamless real-world crypto transactions across Southeast Asia, Africa, and Latin America . Through this integration, users can now pay with X Layer–based digital assets at both online and offline merchants , simply by scanning QR codes displayed at points of sale. The solution unlocks a wide range of everyday use cases, including in-store retail purchases, restaurants, convenience shopping, and local services , bridging Web3 wallets with real-world spending. AEON’s settlement infrastructure is already connected to more than 50 million merchants across emerging markets, with further expansion underway in additional African and Latin American countries. The integration...

NEW YORK – Continuation vehicles, known in the industry as CVs , have moved from niche tool to central pillar of the private equity ecosystem. In 2025, these so-called “self-sales” surged to nearly $100 billion globally , reshaping how fund managers exit—or delay exiting—their most prized assets. The trend, driven by stalled traditional exits and pressure from institutional investors, is now sparking growing controversy. At their core, continuation vehicles allow a private equity manager to transfer a portfolio company from one of its existing funds into a newly created vehicle it also controls. In most cases, the manager remains the same, while institutional investors—such as pension funds and insurance companies —either sell their stakes or roll them over into the new structure. In more than 80% of transactions , investors change, but ownership effectively stays “within the family.” A record-breaking surge After several years of steady growth, 2025 marked a new explosion i...

Citigroup expects a loss of over $1 billion from the sale of its remaining business in the country Citigroup will post a big loss from the sale of its remaining business in Russia, the US banking giant announced on Monday. The lender announced plans to wind down its business in Russia in August 2022, amid an exodus of Western firms due to sanctions imposed on Moscow over the Ukraine conflict. The assets of its Russian unit, AO Citibank, at the time totaled around $10 billion, while the cost of leaving Russia was estimated at $170 million. In December 2022, the lender sold its portfolio of ruble-denominated consumer loans to Russia’s Uralsib bank. The sale of the unit to Russia’s Renaissance Capital is expected to result in a pre-tax loss of about $1.2 billion, the bank said. “The approvals result in a pre-tax loss on the sale for the fourth quarter of 2025, largely related to the currency translation adjustment (CTA) losses that will also remain in accumulated other comprehensive i...

BRUSSELS— While Wall Street and Asian markets experienced a resurgence in public listings, the European IPO market remained strikingly stagnant throughout 2025. According to the latest year-end data, the region saw a continued decline in both the volume of transactions and the total capital raised, cementing Europe’s position as a laggard in the global financial recovery. Less than €24 billion was raised across the Europe and Middle East region in 2025, representing a sharp 24% drop compared to 2024. These figures stand in stark contrast to the $55 billion raised in China and the $44.3 billion mobilized on Wall Street. On the Old Continent, the "mega-deal" has become a rarity; only 14 companies managed to raise more than €100 million this year, down from 15 in the previous period. Structural Stagnation and Fragmented Markets Experts point to several factors for this "blank year," particularly in France, where political uncertainty and a lack of late-stage vent...