Shares in the United States have edged higher at the open of trading on Wall Street, with the S&P 500 index increasing by about 0.2 per cent and the Dow Jones industrial average also gaining 0.2 per cent. The technology-focused Nasdaq index was up 0.4 per cent. Investor sentiment in the industry has been buoyed by the news from Alibaba, the Chinese e-commerce and tech giant, that it plans to increase its spending on artificial intelligence beyond the 380 billion yuan ($53 billion) it set out earlier this year. This year has been characterised by an increase in takeover bids for London-listed businesses and another quoted company looks set to go private after International Personal Finance (IFP) disclosed it had received a sweetened approach. The Leeds-based financial services company, which started life as the international business of the subprime lender Provident Financial, said its American suitor, BasePoint Capital, which had made a 220p-a-share bid in July, had lifted its all-cash offer to 235p a share, a proposal that values IPF at about £515 million.
Published: September 24, 2025 2:36 pm
Source: The Times — Read original