Water investment bosses meet ministers amid hunt for fresh funding September 10, 2024 Ministers have held talks with bosses of water industry investment firms in a bid to attract fresh capital to the scandal-hit sector. Environment secretary Steve Reed held a roundtable with roughly 30 people representing investors in the sector such as pension funds on Tuesday in the City of London. Reed said he wants the water [...]
Tory leadership race: Mel Stride knocked out as MPs whittle candidates to four September 10, 2024 Mel Stride has been knocked out of the Tory leadership race as Conservative MPs voted to whittle the remaining candidates down to four. The former work and pensions secretary received just 16 votes, the lowest number of votes, meaning he was eliminated from the process, while Robert Jenrick led the pack on 33 votes. Kemi [...]
Winter fuel payments: Just one Labour MP rebels in Commons vote on policy September 10, 2024 Just one Labour MP – Jon Trickett – rebelled against the government in a House of Commons vote on plans to means test the winter fuel payment to pensioners. The government won the vote with 348 votes in favour to 228 against, while some MPs – including 53 Labour members – abstained on the ballot, [...]
Goldman Sachs expects tax hikes of ‘at least’ £20bn in Reeves budget September 10, 2024 Many potential tax reforms have faced criticism for their potential unintended consequences.
‘Misperceived and undervalued’ office renting firm IWG urged to quit London listing September 10, 2024 A leading shareholder in International Workplace Group (IWG) has called for the co-working firm to quit its London listing and relocate to the US to boost its value. Miami-based investment firm Buckley Capital Management, which said it was a top 15 shareholder of IWG, argued that the London market ‘misperceived and undervalued’ IWG. “We believe that [...]
Lords Group Trading: Shares in building merchant plunge after government delays heat pump scheme September 10, 2024 Shares in the UK builders merchant Lords Group Trading plunged by more than 15 per cent over the past week ahead of the company releasing a set of lack-lustre half year results on Tuesday. The London-listed company, which is headquartered in the capital, saw its share price slump to 36.5p in early trades as it [...]
Transport for London selects Global and JCDecaux to run ad estate September 10, 2024 Transport for London (TfL) has selected Global and JCDeacux to run its lucrative advertising estate, following a hotly-contested tendering process. Global continues its stint managing advertising sites on the Tube, London Overground, DLR, Tram and across the Elizabeth Line. JCDecaux, the French multinational ad corporation, will manage advertising at more than 4,700 bus shelters across [...]
Gymshark names bodybuilder Chris Bumstead as new shareholder September 10, 2024 Fitness apparel brand Gymshark has named bodybuilder Chris Bumstead as a new shareholder. The Solihull-headquartered business has not revealed the percentage stake Bumstead now holds. Gymshark was founded by Ben Francis and Lewis Morgan in 2012. In 2020, it was valued at more than £1bn when US private equity firm General Atlantic acquired a 21 [...]
Value of mortgages in arrears hits highest level since 2014 – Bank of England September 10, 2024 Mortgage holders are continuing to feel the pain from the Bank of England’s efforts to combat inflation, according to new figures. Data released by the Bank showed that the value of outstanding mortgages in arrears hit £21.9bn in the second quarter of this year, the highest figure since 2014. This was a 32 per cent [...]
Eleco: British software giant sees revenue soar as businesses look for AI solutions September 10, 2024 Software company Eleco has seen its revenue continue to soar as a growing number of businesses turn to tech to help improve efficiency. The listed company, which is headquartered in London and has offices across the UK and Europe, saw its revenue hit £16.2m in the six months ending June 30, 2024, up from £13.4m [...]