
Starmer Vows Budgetary Rigor After UK Selloff Over Reeves Fears
'She is an excellent chancellor; she will be chancellor for a very long time to come, into the next election and beyond it,' Starmer told Virgin Radio UK on Thursday morning. 'She and I are absolutely committed to our fiscal rules and the economic stability that is so important for this country — that is the rock on which we build everything else.'
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OpenAI warns its tokenized stock offered by Robinhood isn't real equity: 'Please be careful'
OpenAI distanced itself from Robinhood's announcement that it would offer "tokenized" equity in the AI giant on its platform. Robinhood revealed plans to offer tokenized shares of private companies like OpenAI and SpaceX to European users. OpenAI said it was not involved in the plan, warning investors to be cautious. OpenAI threw cold water on an announcement from Robinhood this week that said some users could soon buy "tokenized" equity in the AI titan on the popular brokerage app. Robinhood stock has surged this week on news that the company is offering tokenized shares of popular stocks, including shares of private companies OpenAI and SpaceX, to European users. However, the AI startup issued a statement this week that distanced itself from the plan. In a June 2 post on its X account, OpenAI stated that the tokens being offered by Robinhood are not actually equity in the company. "We did not partner with Robinhood, were not involved in this, and do not endorse it. Any transfer of OpenAI equity requires our approval—we did not approve any transfer," the posted stated. OpenAI ended the statement advising potential investors to "please be careful." Tokenized assets are blockchain-enabled representations of securities like stocks. Importantly for investors, though, they are not the same as owning equity in a company, and the price of the tokens may not be correlated with an underlying stock. OpenAI and SpaceX rank among the world's most valuable and high-profile private companies. Although Robinhood's token offering is only available to European users, it sparked considerable interest from retail investors who viewed it as a way to gain exposure. In a statement to Business Insider, a Robinhood spokesperson said: "To cap off our recent crypto event, we announced a limited stock token giveaway on OpenAI and SpaceX to eligible European customers. These tokens give retail investors indirect exposure to private markets, opening up access, and are enabled by Robinhood's ownership stake in a special purpose vehicle." Additionally, CEO Vlad Tenev followed the post with one of his own, providing some context on the equity statements. "While it is true that they aren't technically "equity" (you can see the precise dynamics in our Terms for those interested), the tokens effectively give retail investors exposure to these private assets," he said. Tenev added that Robinhood's giveaway "plants a seed for something much bigger," claiming that since the announcement, other private companies have expressed interest in joining the "tokenization revolution" though he offered no specific details. Read the original article on Business Insider Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
33 minutes ago
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Why AstraZeneca Stock Got Thumped on Thursday
It might be gearing up to pay billions of dollars to participate in a drug program currently in development. Its would-be partner is an American biotech that has earned a lot of attention lately. 10 stocks we like better than AstraZeneca Plc › AstraZeneca (NASDAQ: AZN) might soon be on the hook for an eventual 11-figure payout, and investors weren't all that comfortable with this. A Bloomberg article published Thursday morning said that the company is pursuing what might end up being an expensive partnership with a biotech. A cautious market traded AstraZeneca stock down by more than 2% following the report, on a day when the S&P 500 index landed firmly in positive territory with a 0.8% gain. The article that dinged AstraZeneca was a Bloomberg piece asserting that the company is in discussions with Summit Therapeutics (NASDAQ: SMMT) on a formal partnership. The article, which cited unidentified "people familiar with the matter" as its sources, stated the two companies might collaborate on ivonescimab. This is a cancer drug licensed by Summit (from its developer, Akeso) for numerous jurisdictions outside of Akeso's native China, including North America and Europe. According to Bloomberg, AstraZeneca and Summit are currently working out the details of such an arrangement. The article's sources added that an upfront payment of several billion dollars could be involved in any deal; it did not get more specific. One figure mentioned was $15 billion, which is apparently a total in upfront monies and milestone payments Summit might eventually earn. AstraZeneca is a global healthcare incumbent that's large, sprawling, and well financed -- at the end of its latest reported quarter, the U.K.-headquartered company had more than 4 billion British pounds ($5.5 billion) in cash alone. Still, $15 billion is a huge amount, even when spread over the lifetime of an in-development drug's lifecycle. I wouldn't be overly concerned about this if I were an AstraZeneca shareholder. In fact, I'd be encouraged. There aren't a great many oncology development programs that have shown as much potential as ivonescimab, and if it ends up fulfilling its promise it could easily be a blockbuster drug. I think it might be smarter to be a buyer than a seller of AstraZeneca at the moment. Before you buy stock in AstraZeneca Plc, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and AstraZeneca Plc wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $692,914!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $963,866!* Now, it's worth noting Stock Advisor's total average return is 1,049% — a market-crushing outperformance compared to 179% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of June 30, 2025 Eric Volkman has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Summit Therapeutics. The Motley Fool recommends AstraZeneca Plc. The Motley Fool has a disclosure policy. Why AstraZeneca Stock Got Thumped on Thursday was originally published by The Motley Fool Sign in to access your portfolio

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37 minutes ago
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U.S. company likely lithium bidder in first pilot project for joint Ukraine investment fund
(Reuters) -The U.S. company Techmet is likely to bid in the first pilot project of the Ukraine-U.S. joint Reconstruction Investment Fund on a lithium mine in the centre of the country, Ukraine's first Deputy Prime Minister said on Thursday. Svyrydenko, writing on Facebook, reported on a meeting between President Volodymyr Zelenskiy and U.S. businesses, with much of the focus on the Fund, meant to exploit Ukrainian minerals and rare earths. The Fund was heavily promoted by U.S. President Donald Trump as fundamental for forging close ties. Svyrydenko said Ukraine hoped to have three pilot projects up and running in the first 18 months of operation, including the lithium mine in Kirovohrad region. "Things have already started moving," Svyrydenko said, saying a commission had formally decided it was advisable to proceed with a tender for the Dobra lithium deposit. "All the conditions of the competition are to be worked out soon. This deposit potentially falls under the mandate of the investment fund. Its development could become the first pilot project within the framework of joint investment. "Everything is to be competitive and in compliance with legislation." Svyrydenko said a TechMet representative told the meeting that if the company won the tender "it was ready not only to explore and extract lithium, but also to build facilities for enrichment". "Our goal is to make it profitable to produce and export processed products in Ukraine," she wrote. Svyrydenko has been the main driving force behind the accord and flew to Washington to sign it at the end of April. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data