EXCL – Why Private Equity’s appetite for aggressive takeovers will only increase in 2023 December 29, 2022 It’s no surprise that economic turmoil often drives consolidation. Companies may be struggling to survive and looking to M&A as a way to drive value. Not to mention the current weak pound that makes UK-based businesses, especially those with a global footprint, more attractive to overseas buyers. City experts don’t expect that to change in [...]
The City in 2023: Real estate and infrastructure increasingly inflation-proof alternatives for investors December 29, 2022 Half of UK investors have either made alternative investments this year or are considering doing so in 2023 as they seek inflation-beating options. They primarily focus on investments in assets such infrastructure, real estate but also private equity and commodities. Two in five investors are more likely to consider alternative investments as a result of [...]
Wealthy Brits see inflation as biggest threat in 2023 with worst sleep for older millionaires December 29, 2022 High-net-worth-individuals see inflation as the most significant risk to their personal finances in 2023. While younger respondents remain fairly confident in the future of the UK economy and their own wealth, older HNWIs express significant concerns. Just a third (34%) of 55-64s and less than a quarter (23%) of over 65s say they feel confident [...]
ExxonMobil sues EU over plans for bloc-wide windfall tax December 28, 2022 ExxonMobil has filed a lawsuit against the EU in a bid to overturn the trading bloc’s plans to impose a windfall tax on energy companies. The US oil major is seeking to challenge the EU’s authority to impose a 33 per cent levy on energy companies’ profits during the fiscal year 2022. Two of [...]
Oil giant BP completes £2.7bn purchase of US renewable energy firm Archaea December 28, 2022 Oil giant BP has completed the purchase of renewable natural gas (RNG) provider Archaea Energy for almost £3bn. The purchase of the Texas-based firm will help to expand its presence in the US biogas industry, accelerating its bid to decarbintion. It has been agreed for $3.3 billion (£2.7bn) in cash, as well as around $800 [...]
Not ‘appropriate’ for UK to publish details of post-Brexit Israel trade deal impact December 28, 2022 The government has said it is not “appropriate” to publish full details of a post-Brexit trade deal with Israel. Details of the agreement which boosts £5bn trade between the countries won’t be made public, the department for international trade (DIT) confirmed today. The deal has a strong focus on boosting UK services exports to the [...]
Wind farm developer threatens to sue UK government over plans for ‘windfall tax’ December 28, 2022 A Cheshire wind farm developer has threatened to sue the UK government over its plans to impose a ‘windfall tax’ on renewables companies. Community Windpower – which owns 1.5 GW of UK wind generation capacity – has said it will take legal action to block the UK’s Electricity Generator Levy. The temporary tax imposes a [...]
EXCL – Sunak should lower national insurance in 2023, argues jobs chief December 28, 2022 With inflation having reached a 40-year high this year and the economy predicted to shrink in 2023, City A.M. zooms in on the volatile, hyperactive UK jobs market by checking in with Paul Farrer, the CEO and founder of London-based recruitment giant Aspire. Sitting down with this paper today, Farrer calls on the new Prime [...]
Labour calls for new sanctions on Iran over ‘repression’ of Amini protests December 28, 2022 Britain’s Labour Party has called for new sanctions to be imposed on those engaged in suppressing protests in Iran. The UK’s shadow foreign secretary, David Lammy, called for new “sanctions against individuals and organisations involved in the suppression” of the protests that have swept Iran following the death of Mahsa Amini in September. Amini, a [...]
The High Street in 2023: Full of tech and hyper-local but still with 17th century touches December 28, 2022 In order to save the Great British high street of the 21st century in 2023, one may need to go back in time and take inspiration from the 17th century. Far from the vision of a super futuristic, tech-heavy world, a desire for face-to-face contact and micro communities, which has been accelerated by the pandemic, will drive [...]