FIVE at FIVE: NatWest nosedives; Sam Bankman-Fried trial; FTSE 100 bashed; Universal slides; Amazon and AI

Here’s Proactive’s round-up of the top financial stories of the day, with helpful links taking you directly to the news

Proactive Published 27/10/2023

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1. NatWest plunges after cutting outlook, Farage exit fall-out

Shares plunged 11% in early exchanges after the bank lowered full-year net interest margin guidance and admitted "serious failings" in the treatment of Nigel Farage's banking account closure.

2. Sam Bankman-Fried digs a deeper hole as he faces down jury

What might we have been privy to when the former head of collapsed cryptocurrency exchange FTX, who is facing life in prison for fraud and money laundering, took the stand this week?

3. FTSE 100 down

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4. Universal Music shares down 6% as streaming sales edge lower

Sources told the Spanish paper Expansion that Zegona is seeking out funding for either a total takeover, or 50% acquisition, of Vodafone Spain at a €5 billion (£4.3 million) valuation.

5. Bezos's Amazon doubles down on AI, not rockets

Amazon’s chief executive Andy Jassy said at the release of the company’s third-quarter financial results that the Amazon Web Services (AWS) team “continues to innovate and deliver at a rapid clip”.