Halifax: UK house price growth expected to be ‘much flatter’ 1 per cent in 2022 December 17, 2021 UK house price growth will remain robust next year but will be “much flatter” as rising inflation and interest rates, coupled with the end of government support measures, place greater pressure on household budgets. Prices are expected to inch up around 1 per cent in 2022, but “forecast uncertainty remains very high,” Halifax said this [...]
Reddit confidentially files for IPO at valuation of up to $15bn December 16, 2021 Online message board operator Reddit has confidentially applied to the US securities regulator to go public in an IPO that could see it valued at more than $15bn. It comes after initial reports in September that the community-driven platform was plotting a listing in the US, and was seeking a valuation of at least $15bn [...]
Gym Group avoids mentioning loss in market update, but says it’s trading in line with market expectations this year December 16, 2021 The Gym Group this morning said that it is performing in line with full-year market expectations, in terms of its key profit measure of adjusted Ebitda less normalised rent, but failed to update the market on the status of its company losses. Instead, it focused on its robust recovery in membership numbers this year since it [...]
Aviva courts shareholders with a buyback boost to £1bn December 16, 2021 Aviva this morning said it will increase and extend the ordinary share buyback programme it announced in August from £750m to £1bn, expected to complete by the end of March next year. It comes after the British insurance giant pledged “at least” £4bn to shareholders by next June after it came under pressure from activist [...]
Schroders confirms it is in advanced talks to buy ‘significant’ stake in renewables fund Greencoat Capital December 16, 2021 Following media reports last night, asset manager Schroders has this morning confirmed that it is in advanced talks to take what it described as a ‘signficant stake’ in Greencoat Capital, which manages solar, wind and other renewables funds. “Schroders continues to evaluate potential acquisition opportunities in line with its strategy to build a comprehensive private [...]
FCA fines Switzerland’s GAM International Management £9.1m for conflicts of interest December 16, 2021 Britain’s financial watchdog this morning said it has fined Swiss asset management group GAM International £9.1m, as well as its former fund manager Tim Haywood, for conflicts of interest and gifts and entertainment matters. Following its investigation into the asset manager, the regulator concluded that GAM “failed to conduct its business with due care, skill [...]
Analysts ponder whether activist fund Elliott is more in need of a ‘shake-up’ than the firms it invests in December 15, 2021 Activist investor Elliott has ramped up its pressure on UK businesses this year, taking on builder Taylor Wimpey, pharmaceuticals firm Glaxo Smith Kline, and energy giant SSE. It took a sizeable top-five stake in SSE in September and last week wrote a ten-page letter to the firm’s chairman Sir John Manzoni criticising the firm’s CEO [...]
London’s Signal AI raises $50m to hire UK talent and ramp up international expansion December 15, 2021 Signal AI, a British startup that is trying to solve the “information overload” faced by business decision makers with its artificial intelligence and machine learning technology, has today closed a $50m Series D funding round. Its latest round was led by growth-stage investors Highland Europe, who have previously backed ContentSquare and Matches Fashion, and brings [...]
French tycoon Drahi mulls US IPO for Sotheby’s auction house December 15, 2021 Patrick Drahi is reportedly eyeing up a potential listing for Sotheby’s, just over two years after the billionaire telecoms tycoon and art collector snapped up the renowned British auction house in a $3.7bn deal. Drahi has been exploring the prospect of floating Sotheby’s in the US as soon as next year during discussions with potential [...]
Londoners have the second-lowest perception of their wealth in England December 15, 2021 Despite having the highest average total wealth in the country, London dwellers’ perceptions of their financial wellbeing are particularly poor, according to this year’s UK financial health index by wealth manager St James’s Place. Data from the index released today, ahead of The Bank of England’s announcement of its next move on interest rates later this [...]