Bloomberg breaks record for the largest private donation to London Museum News Bloomberg Philanthropies has broken the record for the largest private donation to the London Museum, with a gift of £20m and a world-renowned collection of Roman artefacts. London Museum will use the money to aid its move from 150 London Wall to Smithfield market, which is currently scheduled for completion in 2026. The artefacts, which [...]
Ministers must get a grip of broken benefits system, Reeves insists Politics Rachel Reeves has doubled down on the need to reform the welfare system, insisting the government must “get a grip” on it amid concerns from Labour MPs about the impact of expected cuts to the budget. The benefits system is “broken” and is “not working for anyone”, the Chancellor said. Backbench Labour MPs have made [...]
Davos: Reeves defends fiscal rules and says Heathrow expansion is ‘pro-growth’ Politics Rachel Reeves has insisted the UK would continue to meet her “fiscal rules”, describing them as the “bedrock” of the stability she aims to restore to the economy and public finances. The Chancellor spoke at a Bloomberg event at the World Economic Forum in Davos, as the Office for National Statistics (ONS) said public sector [...]
FTSE 100 to outperform S&P 500 in 2025 says Wall Street January 3, 2025 Equity analysts have predicted that the FTSE 100 will have a record year in 2025, helped by lower interest rates and higher oil prices. According to data compiled by Bloomberg, Wall Street analysts believe the UK’s flagship blue-chip index will jump 15 per cent in 2025, its best year since 2009. In 2024, the index [...]
Employer national insurance raid could lead to 130,000 jobs being slashed November 28, 2024 Analysis from Bloomberg Economics suggests that up to 130,000 jobs could be lost if firms responded to the tax hike primarily by cutting employment.
Reeves hails £63bn boost for Britain at flagship investment summit October 14, 2024 Reeves welcomed the investment news, insisting her “ambition for Britain burns brighter than ever”, while the government said the deals will see some 38,000 new jobs created in the UK.
HSBC mulls merger of investment banking and commercial arms in cost-cutting drive September 9, 2024 HSBC is mulling a merger of its investment and commercial banking arms as part of a push by new chief Georges Elhedery to slash costs, according to reports. Elhedery, who took over as group CEO last week, is considering combining the lender’s global banking and markets arm with its trading and investment banking division, Bloomberg [...]
Thames Water creditors in funding drive to dodge special administration September 6, 2024 A group of Thames Water’s creditors are devising backup plans for a renewed injection of cash in a bid to prevent the firm from being effectively renationalised. The UK’s biggest water company is struggling under an £18.7bn debt crisis, and is in talks with lenders to provide it with fresh funding. The floundering utility firm [...]
Starmer: Nationalising debt-laden Thames Water ‘not consistent’ with our fiscal rules July 8, 2024 Nationalising Thames Water would “not be consistent” with Labour’s fiscal rules, the Prime Minister’s spokesman has said.
Blackrock: Biggest asset manager takes first step into financial data with £2.55bn Preqin deal July 1, 2024 Blackrock has agreed to buy financial data group Preqin for £2.55bn in cash, as the biggest asset manager in the world makes its first venture into financial information provision.