GSK offloads £804m worth of shares in spun out healthcare arm Haleon May 12, 2023 British drugmaker GlaxoSmithKline (GSK) has today offloaded some 240m shares of its spun out consumer healthcare group Haleon in a move which has raised £804m for the firm.
UK on track to dodge recession as economy grows 0.1 per cent in first quarter May 12, 2023 Britain is on course to officially dodge a technical recession in the first half of this year, demonstrating the big turnaround in the country’s economic fortunes in just a handful of months, figures out today show. Gross domestic product (GDP) – which measures all goods and services made in an economy – edged 0.1 per [...]
THG shares tumble after bosses shut down Apollo takeover talks May 12, 2023 Retail group THG has shut down takeover talks with Apollo after its board deemed the US buyout giant had tabled “inadequate valuations” for the firm.
Bank of England governor Andrew Bailey rebuffs Huw Pill’s ‘accept you’re worse off’ comment May 11, 2023 The Governor of the Bank of England has suggested that the Bank’s most senior economist chose the wrong words when saying that people and businesses should accept they are poorer now because of inflation. Andrew Bailey said that there had been a hit to national income, and did not appear to criticise the substance of [...]
Bank of England hikes interest rates for twelfth time in a row and warns of ‘significant’ inflation risk May 11, 2023 The Bank of England today hiked interest for the twelfth time in a row and to their highest level since October 2008, but warned inflation will stay higher for longer than it previously thought. The monetary policy committee (MPC) – the nine-member group tasked with setting interest rates in the UK – voted 7-2 in [...]
Bank of England ditches any threat of recession in biggest GDP upgrade since 1997 independence May 11, 2023 Any threat of a recession in Britain this year and over the medium term has today been scrapped by the Bank of England in what was the largest upgrade to the central bank’s GDP projections since it was made independent in 1997. The UK economy is now tipped to broadly flatline this year and start [...]
Softbank’s Vision Funds book record £31bn loss – but Alibaba sale helps cushion the blow May 11, 2023 Japanese investment giant Softbank continued to shed cash from its storied Vision Funds in the three months to March even as a slew of asset sales and tech rebound helped narrow losses across the firm.
Home REIT bidder slams ‘lack of engagement’ as deal deadline looms May 11, 2023 The potential bidder for beleaguered social housing investor Home REIT has slammed a “lack of engagement” from the firm as it called for a further extension to a deadline for any potential takeover.
Man Group: London Hedge fund chief to retire with president set to take the reins May 11, 2023 The boss of London hedge fund firm Man Group, Luke Ellis, has announced he will step down later this year when the firm’s chief operating officer will step into the top role.
‘I’m sick of the UK bashing – it’s an incredible place to start a business’ – why PrimaryBid chief Anand Sambasivan is still bullish on London May 11, 2023 The chief of fintech PrimaryBid tells Charlie Conchie why he's bullish on London's prospects despite a capital markets downturn