Roof tiler Marley abandons £500m floatation plans amid growing market concerns October 12, 2021 The biggest producer of roof tiles in Britain has abandoned its £500m plans to float on the London Stock Exchange, blaming “market volatility” as investors fear a rise in UK interest rates. Marley Group announced its change of plans this morning despite “considerable institutional investor interest”, according to the company. The news came less than [...]
More energy supplier collapses anticipated October 12, 2021 Energy regulator Ofgem is readying itself for a new wave of supplier collapses. At least four suppliers were reported to be in talks with Ofgem on Tuesday, according to Sky News. The companies were understood to be discussing joining the Supplier of Last Resort (SOLR) system. Some companies could make public a decision to cease [...]
THG shares dive after concerns over tech business October 12, 2021 THG shares sank 34 per cent after management failed to win over investors at a presentation on Tuesday afternoon. Executive chair and chief executive of the group, Matthew Moulding, said the group was under a “short attack” from hedge funds betting against its shares, The Financial Times reported. The presentation comes after The Analyst, an [...]
Cabinet office minister warns businesses giving bonuses and dividends to not expect government support October 12, 2021 Struggling companies facing high gas prices could be refused a government bailout this winter if they have paid out big dividends and bonuses. Cabinet office minister Steve Barclay told Times Radio that the Treasury would scrutinise whether any interventions represented “value for money”. He said: “It’s right from a taxpayer point of view, mindful of [...]
US job openings still high despite falling to 10.4m in August October 12, 2021 Although job openings in the US fell in August, they were still significantly high compared to previous years, against a backdrop of worker shortages. In the first time this year the number of new jobs available fell by 659,000 to 10.4m by the end of August, according to figures released by the US Labor Department [...]
Right tax cuts will boost UK economy and unlock SME investment, says City investor October 12, 2021 Prime Minister Boris Johnson recently refused to rule out further tax rises, calling the pandemic a “fiscal meteorite”. Speaking at the Tory Party conference in Manchester, the Prime Minister praised the UK’s economic recovery which is so far ahead of other G7 nations. Meanwhile, Jacob Rees-Mogg highlighted that the country was already at the “upper [...]
UK muscles out G7 to top economic growth league October 12, 2021 The UK has muscled out its rich nation rivals to top the table for economic growth this year. Britain’s economy will expand 6.8 per cent this year, a faster rate of growth than any other G7 country, according to the International Monetary Fund (IMF). Despite trimming its forecasts by 0.2 percentage points, the UK will [...]
M&A cash: Uncertainty and reduced leverage capacity make it harder to finance takeovers October 12, 2021 One of China’s biggest property developers, Evergrande, has come under mounting pressure in recent weeks to repay investors and bond holders on the back of three missed payments on over $300bn of liabilities. This potential default has triggered fears across global markets that investors will not get their money back. It has also had an effect on [...]
Gymshark ‘aggressively’ pitched by banks as London IPO is on the cards October 12, 2021 Athleisure business Gymshark has started to put together plans for a stock market listing. The brand has been holding preliminary talks with institutional investors and investment banks about a flotation, Sky News has reported. The company hit a £1bn valuation just over a year ago and boasts customers in more than 130 countries. Gymshark was [...]
Red hot jobs market strengthens BoE rate hike bets October 12, 2021 A rebound in the UK jobs market back to pre-pandemic health is strengthening bets on the Bank of England hiking interest rates this year. The number of payrolled employees climbed more than 200,000 over the last month, jumping to 29.2m in September, above its pre-pandemic level, according to the Office for National Statistics (ONS). The [...]