F1: McLaren stake sale values team at record $5bn September 3, 2025 McLaren’s 30 per cent stake sale values the Formula 1 team at north of $5bn, according to sources close to the deal. Majority shareholders Mumtalakat, the Bahraini sovereign wealth fund, and UAE-based investment group CYVN Holdings this week completed the purchase of all shares they did not already own to acquire 100 per cent of [...]
Autumn Budget set for 26 November as Reeves claims economy ‘not working well’ September 3, 2025 The Autumn Budget will be on 26 November, the Treasury has confirmed, with Chancellor Rachel Reeves admitting the UK economy was “not working well enough” for Britons. The confirmation now sets the Office for Budget Responsibility (OBR)’s preparations for its fiscal report in motion as it has ten weeks to draw conclusions on the health [...]
London’s bullion market set to trial digital gold September 3, 2025 London’s physical gold market is on the verge of a major shake up, as the World Gold Council seeks to launch a digital form of the precious metal. The move would transform the capital’s $900bn (£672bn) market, creating the ability to trade, settle, and collateralise bullion digitally around the gold ecosystem for the first time. [...]
Formula 1’s popular F1 Arcade signs first franchise deal after $130m raise September 3, 2025 Formula 1’s popular F1 Arcade product has this morning announced its first franchise agreement, with the viewing and gaming hub set to hit the Iberian Peninsula. F1 Arcade’s flagship location is at One New Change in St Paul’s, but the Formula 1 affiliated experiential hospitality offering also has sites in Birmingham, as well as Boston, [...]
Hospitality bosses join Tories in opposition to Labour government September 3, 2025 Hospitality bosses have joined the Conservatives in condemning the Labour government for introducing higher taxes on businesses, rolling out red tape on employment and excluding the sector from growth strategies. Managers at pubs, restaurants and hotels across the UK have warned that the government’s taxes and regulations risk devastating the important sector. Now the Conservatives [...]
The View from The Shard makes first profit since 2019 September 3, 2025 The business behind the viewing gallery at The Shard has returned to profit for the first time since 2019, it has been revealed. The London attraction has posted a pre-tax profit of £1.6m for 2024 after having fallen to a pre-tax loss of £678,839 in the prior 12 months. The late total comes after the [...]
Thames Water: Creditors set out rescue plan with £20.5bn investment September 3, 2025 A consortium of Thames Water creditors have laid out plans for how a £20.5bn investment would “fix the foundations” of the UK’s biggest water supplier. The group of 15 investors, known as the London & Valley Water consortium, are set to focus on improving the firm’s record on pollution and sewage leaks – with an [...]
Formula 1 profits sustainable despite cap increase, says Mercedes team CFO September 3, 2025 Mercedes-AMG Petronas F1 Team CFO Russell Braithwaite on maintaining profitability in Formula 1 amid cost cap changes and how the team’s partnership with SAP will help. Formula 1’s cost cap has helped to herald a new era of profitability, with strict limits on spending allowing teams to generate a surplus from the sport’s explosion in [...]
Paqueta phone celebration raises eyebrows at FA as judgement looms September 3, 2025 The Football Association is expected to publish the independent commission’s full judgement in the acquittal of Lucas Paqueta on spot-fixing charges imminently, days after spotting a possible double meaning in his goal celebration during West Ham’s win at Nottingham Forest on Sunday. After converting a penalty, the Brazilian mimed receiving a phone call and then [...]
Foreign takeovers to propel UK M&A volumes above £50bn September 3, 2025 UK markets are bracing for a major bump in mergers and acquisitions with the total value of deals expected to top £50bn in 2025. Fresh data from the Office for National Statistics showed the value of domestic deals jumped to £3.4bn in the second quarter, up £600m from the first three months of the year. [...]