Flowtech buys out struggling rival Thorite to boost UK expansion August 27, 2024 Fluid power products supplier, Flowtech, has struck a £350,000 deal to acquire the struggling pneumatics and fluid products provider Thorite. The London-listed firm, which is headquartered in Flookburgh, Cumbria, said the acquisition would bring “significant benefits” including better operational efficiency, cost savings, and improved profit margins. It added that Thorite’s existing locations would help Flowtech [...]
Shein uncovers child labour in its supply chain August 23, 2024 Fast fashion giant Shein has admitted it found two cases of child labour in its supply chain last year in a revelation that will likely fuel concerns in the City ahead of potential blockbuster float on the London Stock Exchange.
Waiting game: Benchmark Holdings’ revenue dips as London escape bid continues August 22, 2024 Genetics specialist Benchmark Holdings has suffered a 17 per cent dip in group revenue over the last nine months, as the company attempts to escape from the London Stock Exchange by getting bought out. The company reported “solid performance in genetics and advanced nutrition amidst continuing soft shrimp markets” in its quarterly results, but revenue [...]
Shein considers selling shares to public in potential £52bn London listing August 21, 2024 Fast fashion giant Shein is reportedly considering selling its shares directly to the British public as part of a potential £52bn listing on the London Stock Exchange. The company’s bankers, including JP Morgan, Goldman Sachs and Morgan Stanley, are pushing for plans to sell to retail investors along with institutional investors, according to The Telegraph. [...]
CK Infrastructure jumps on London Stock Exchange debut as rules shake-up pays off August 20, 2024 Shares in CK Infrastructure Holdings have risen on their London debut as the Hong Kong investor became the first company to list its shares since a sweeping overhaul of listing rules in July.
How to end the American choke-hold on British tech? Stop ‘acting like an incubator’ August 19, 2024 As tech companies flee London in droves, serial entrepreneur William Reeve—whose leadership credits include Lovefilm, a trailblazer in online movie streaming, and Zoopla, a leading real estate portal —has warned the City risks becoming nothing more than an incubator for the US unless it can shift its focus beyond short-term profit. Since 2019, at least [...]
FTSE 250 giant JTC snaps up employer services firm in latest takeover deal August 19, 2024 FTSE 250 corporate solutions firm JTC has struck a deal to expand its employer services division with a new acquisition – the latest in a string of recent takeovers. The London-listed firm, headquartered in Jersey, revealed plans today to acquire the Buck UK and European Share Plan Administration and Trustee Businesses from Arthur J. Gallagher & Co [...]
Burberry shares plunge to a 14-year low, but what’s behind the collapse? August 16, 2024 Once a beacon of British heritage and craftsmanship, Burberry’s recent decline has been striking. Shoppers and investors seem to have fallen out of love with the retailer. Sales have plunged, and Burberry shares have fallen 70 per cent over the past year. Earlier this week, the stock touched a 14-year low before rebounding. While the [...]
Gooch and Housego: Profit to be £1.5m lower than expected after delivery delays August 15, 2024 Photonics engineering and manufacturing firm Gooch and Housego (G&H) said it expects its profit for the year to be lower than previously predicted as delivery delays hit its revenue. The London-listed company, which saw its revenue fall in the first half of the year, said that it was likely to see its pre-tax profit come in at [...]
Mecca Bingo owner The Rank Group surges back to profit as people return to casinos August 15, 2024 The owner of Mecca Bingo, The Rank Group, has surged back into the black with profit that outstripped previous expectations. The London-listed group, which is headquartered in Maidenhead, saw its net gaming revenue grow by nine per cent year on year to £734.4m in the 12 months ending June 30, 2024, up from £671.4m in [...]