Direct Line shares surge after £3.3bn Aviva takeover approach November 28, 2024 Shares in Direct Line surged as much as 40 per cent on Thursday morning after the insurer rejected a £3.3bn takeover approach from larger rival Aviva.
Coventry Building Society to take over Co-op Bank in January November 28, 2024 Regulators have given the green light for Coventry Building Society to acquire The Co-operative Bank in January as consolidation sweeps through Britain’s mid-sized banking sector. The two lenders said on Thursday that the Financial Conduct Authority and Bank of England’s Prudential Regulation Authority had approved the £780m deal, which was agreed in May. The takeover [...]
Dr Martens swings to the red but shares spike with analysts positive on future growth November 28, 2024 Despite a pre-tax loss from Dr Martens, analysts have remained positive on its future growth prospects as it cuts costs and shakes up its leadership team. The boot-maker told markets this morning that profit before tax swung into the red, with a loss of £28.7m in the 26 weeks ended September 29, from a profit [...]
Impax profit drops as ESG-focused asset manager looks forward to Trump’s return November 28, 2024 ESG-focused Impax Asset Management has reported a fall in profit and continued outflows but said Donald Trump’s return to the White House could help its portfolios deliver “excellent returns”. The London-listed firm said on Thursday that its pretax profit came in at £49m for the year ending on 30 September, down six per cent from [...]
Morrisons expands use of Ocado’s grocery-picking software in store November 28, 2024 Ocado has announced it will work more with Morrisons in-store and less via fulfilment centres as the latter company recalibrates the operations of its online grocery arm. Morrisons, which has been working with Ocado since 2013, will “gradually cease” deliveries from Ocado’s Erith fulfilment centre, in the south east Ocado said in a statement this [...]
Cosy Club owner Loungers snapped up by Fortress for £338m November 28, 2024 Fortress will offer 310p per share, which is a 30 per cent premium to Loungers' closing price yesterday and above its highest ever trading price.
Warburtons boss reveals how Samuel L Jackson and The Muppets helped transform bakery giant November 28, 2024 The boss of Warburtons has said the bakery giant would not be where it is today without the help of Hollywood A-listers Samuel L Jackson, George Clooney, Robert De Niro, Sylvester Stallone – and The Muppets. Chairman Jonathan Warburton, part of the fifth generation of the family to lead the Bolton business, has seen the [...]
Exclusive: City grandees look to Asia in bid to solve IPO drought November 28, 2024 City grandees are looking to capitalise on European political volatility and tempt a wave of international and Asian companies onto the London Stock Exchange next year, according to a memo seen by City AM. London’s public markets have “tailwinds” behind them and the capital could benefit from being the “adult in the corner of the [...]
The truth about wealth inequality November 28, 2024 The distribution of wealth in the economy has attracted more and more attention among economists following a wealth boom that lasted for four decades. Between 1980 and 2019, British household wealth increased from three to seven-times national income, as cheap credit helped to fuel consistent rises in house prices. “For much of the past four [...]
Consumer confidence in the economy dips following Budget November 28, 2024 The British Retail Consortium's (BRC) sentiment monitor showed that consumers' confidence in the economy fell back to -19 in November, down two points from October.