Loyalty tech startup acquired in mega eight figure deal March 3, 2025 UK-based loyalty tech startup Lux Rewards has been acquired by global rewards company Enigmatic Smile in an eight-figure deal following years of near closures. The exact purchase price has not been disclosed. The acquisition reflects growing consolidation in the loyalty tech industry as businesses compete to meet increasing consumer demand for rewards and retention-focused programs. [...]
Manufacturing job cuts accelerate ahead of national insurance hike March 3, 2025 Activity in the UK’s manufacturing sector dropped to its lowest level in fourteen months, a new survey has revealed, with lower demand and weak confidence plaguing the industry. The S&P’s manufacturing purchasing managers’ index (PMI) showed downturns deepened as firms braced for changes made in the Government’s budget to be enacted. The index stood at [...]
FTSE 100 giants Rolls-Royce and BAE Systems surge following Ukraine defence summit March 3, 2025 UK and European defence shares rose to near-record highs on Monday morning lead by names such as Rolls-Royce and BAE Systems, after the defence summit in London, at which European leaders emphasised support for Ukraine and pledged to raise defence spending. The STOXX 600 rose 0.4 per cent boost, following ten consecutive weeks of gains [...]
FTSE 100 hits all-time high as defence stocks soar March 3, 2025 The FTSE 100 index rallied to an all-time high on Monday morning, bolstered by surging defence stocks as European countries signalled their willingness to up defence spending over the weekend. The UK’s blue-chip index rose 0.4 per cent or 32 points after the market opened. BAE Systems led the market higher. The firm’s stock jumped [...]
Co-op Live rakes in millions after overcoming disastrous launch March 3, 2025 Co-op Live, the UK’s largest indoor arena, bounced back from a disastrous launch to rake in millions during its first year in operation. The £365m Manchester venue hit national headlines at the start of 2024 when its grand opening was delayed several times. The fall out led to the resignation of boss Gary Roden days [...]
Ex-Barclays boss case against FCA over relationship with Epstein goes to court March 3, 2025 Former Barclays boss Jes Staley is seeking to overturn an FCA ban after he was found to have misled the watchdog over his relationship with Jeffrey Epstein
Pukka Pies: Price rises ‘inevitable’ at chip shop favourite March 3, 2025 Chip shop favourite Pukka Pies has warned prices rises are “inevitable” as it battles “significant levels of power and labour inflation”. The Leicester-headquartered company said it delayed increasing its prices during its latest financial year “assess the mid to long-term implications from the underlying inflation” but has since concluded that rises should be introduced. The [...]
Spring Statement 2025: Rachel Reeves should be courageous and favour economics over ideology, says Interactive Investor boss March 3, 2025 Chancellor Rachel Reeves needs to be “quite courageous” and not “allow ideology to get in the way of economics” when she delivers her Spring Statement on 26 March, the chief executive of Interactive Investor has said. Richard Wilson, speaking on an up-coming episode of City AM‘s Boardroom Uncovered podcast, added that the government’s growth agenda [...]
Starmer to present Ukraine plan to parliament after frantic diplomatic weekend March 3, 2025 Sir Keir Starmer is set to make a statement in the Commons this afternoon to present a plan forged with President Macron over the weekend for a European “coalition of the willing” to guard a peace process in Ukraine. The prime minister will take questions from MPs from 15:30, with an opposition response from Conservative [...]
Close Brothers completes sale of asset management arm to Oaktree March 3, 2025 Banking group Close Brothers has completed the sale of Close Brothers Asset Management (CBAM) to global investment management firm Oaktree Capital Management. The transaction, finalised on 28 February 2025, is expected to bolster the bank’s common equity tier 1 (CET1) capital ratio by approximately 120 basis points, from 12.1 per cent to 13.3 per cent. [...]