‘Recession warnings flashing red’: HSBC Asset Management warns investors to batten down the hatches June 27, 2023 Stock markets are “out of sync” with blaring recession warnings flashing across Western economies and investors should brace for a turbulent period ahead, HSBC Asset Management has warned today.
David Lloyd could be put up for sale as owners eye £2bn price tag June 27, 2023 TDR Capital is reportedly mulling a sale of its health and fitness business David Lloyd Leisure. The private equity firm is understood to have drafted in Morgan Stanley to advise on potential suitors for the business, Sky News reported. A sale will only be considered by if it draws a “sufficiently attractive valuation” for TDR, [...]
Jeremy Hunt to sign ‘milestone’ financial services agreement with EU June 27, 2023 Chancellor Jeremy Hunt will today sign a long-awaited deal with the European Union on improving regulatory cooperation for financial services, in a move that Hunt said will boost the City as a “global financial services hub”. Hunt and EU financial services commissioner Mairead McGuinness will sign a Memorandum of Understanding (MoU) at the European Commission [...]
Payments watchdog wants open banking to ‘inject more competition’ into card market June 27, 2023 The UK’s payments regulator today argued that the card market did not have “sufficient competition”, but suggested progress on open banking could open it up to a wave of innovation. Chris Hemsley, managing director of the Payment Systems Regulator (PSR), said the watchdog was looking to find ways of “injecting more competition into this market [...]
Quintessentially: Firm founded by Queen Camilla’s nephew switches auditor amid accounts delays June 27, 2023 Quintessentially, the members-only concierge service founded by the nephew of Queen Camilla, Ben Elliot, has switched its auditors amid severe delays to the company’s accounts. BDO officially resigned as the auditor for Quintessentially (UK), the parent company, yesterday, according to an update on Companies House. A spokesperson for Quintessentially confirmed the change to City A.M., but [...]
Explainer: Our misconceptions about housing are so ingrained that councils are blocking new flats for fears of floods in 80 years June 27, 2023 In the latest example of how far the tensions in housing can reach, North Devon Council just refused to approve new flats because they might be victims of flooding in 2105. Which is in more than eighty years. The flats wouldn’t even need to be built; we’re talking about empty floors above a former hairdresser’s [...]
Thames Water chief executive Sarah Bentley resigns in shock departure June 27, 2023 Sarah Bentley has stepped down from her role as chief executive of Thames Water with immediate effect after three years in the job. The UK’s largest water supplier confirmed her departure today, including her exit from the board – with the shock departure simply the latest twist at the troubled company. Thames Water has gone [...]
Covid-19 inquiry: No-deal Brexit prep stopped intensive care drugs ‘running out’, says Matt Hancock June 27, 2023 Preparations for a no-deal Brexit meant vital intensive care drugs were prevented from running out during the pandemic, Matt Hancock has told the UK Covid-19 Inquiry. Crucial medicines were “within hours of running out” in the midst of the coronavirus crisis, the former health secretary said while giving evidence to the UK’s official inquiry. Asked [...]
Odey suspends flagship hedge fund after redemption pressure – reports June 27, 2023 Odey Asset Management has suspended its flagship hedge fund after it was hit with redemption requests following the removal of founder Crispin Odey, Bloomberg News reported on Monday.
Own-brand buys and No7 skincare boosts sales for Boots June 27, 2023 Boots has revealed a surge in online shoppers and people opting for own-brand labels has driven up sales over the latest quarter. The pharmacy and retail chain said its own ranges have been flying off the shelves as consumers hunt down value. It came as its US owner, Walgreens Boots Alliance (WBA), revealed its net [...]
