#corporate-debt

#corporate-debt

Evoke, the heavily indebted gambling group that owns William Hill in the UK as well as the 888 brand, has put itself up for sale as it grapples with rising costs and regulatory pressure. The company said it is undertaking a review of its strategic options, which includes the possibility of selling the business. Investment banks Morgan Stanley and Rothschild have been appointed as joint financial advisers to oversee the process,

OpenAI achieved a nominal value of $500 billion. In terms of valuation, the posterchild of GenAI - which is yet to make a profit - left in its dust companies like Toyota, the world's largest automaker. To put this in perspective, Toyota [PDF] sells around 10.8 million vehicles per year, accrues an operating income (profit before tax) of around $32 billion and has a market cap of a mere $250 billion.

In the absence of macro jobs data due to the U.S. government shutdown, traders are piling into AI stocks, ING told clients this morning. "Financial market volatility is falling across the board, partly driven by the US government shutdown and the delay to key data releases such as the September jobs data. Instead, investors remain transfixed by the AI-driven rally in megacap tech shares, which shows no signs of slowing."

Nigerian equities have shown resilience with the NGX All Share Index nearing the 122,000-point mark due to positive performances in electronic technology and producer manufacturing.