Abrdn logistics trust delays dividend amid potential takeover February 19, 2024 The £249m Abrdn European Logistics Income trust has delayed the payout of its fourth quarter dividend amid a number of proposals to buy the trust. In a stock exchange notice, the trust’s board said it had received a number of “broad ranging preliminary, indicative non-binding proposals” to purchase or merge the trust. It added that [...]
WPP’s AI ambitions to take centre stage in full-year results February 19, 2024 Media and advertising giant WPP is set to release its preliminary full-year results on 22 February, which are likely to include commentary on its plans to expand into artificial intelligence. The group said it expected to post full year net-revenue growth of 0.9 per cent, with operating margins in the region of 15 per cent. [...]
Easyjet founder calls for budget airline to list in the US February 18, 2024 Easyjet founder Stelios Haji-Ioannou has argued that the budget airline should consider pursuing a secondary listing in the US.
Morgan Stanley accused of duping EU regulators to comply with post-Brexit rules February 18, 2024 Morgan Stanley has been accused of making up a fake job title for one of its employees in an attempt to trick EU regulators into believing it had moved top execs to Europe to meet post-Brexit rules.
Currys rejects £700m takeover bid from activist investor Elliott February 18, 2024 Currys said it considered the proposal and concluded it "significantly undervalued the company and its prospects".
Expect more real estate investment trust mergers as the age of the ‘big box behemoth’ dawns February 18, 2024 News about real estate investment trusts (REITs) merging with each other have rapidly emerged this year, as the sector looks to embrace economies of scale.
Has the ‘squeezed middle’ come true for UK asset managers? February 17, 2024 As data for the end of the year has trickled out over the last month, it has become clear that 2023 was a poor year for mid-sized asset managers, after they suffered an already bruising 2022. The idea of the ‘squeezed middle’ has been a pervasive business cliche for some time, but it seems to [...]
US retail sales tumble 0.8 per cent as consumers finally show signs of stress February 15, 2024 American consumers are finally showing signs of stress as US retail sales dropped by 0.8 per cent in January, below expectations of a 0.2 per cent drop. In the largest decrease for retail sales since March 2023, the US Census Bureau reported that American consumers spent $700.3bn last month, compared to $706.2bn in December. After [...]
FCA cracks the whip on consumer duty February 15, 2024 The Financial Conduct Authority is set to quiz financial advisers over whether they are properly following the new Consumer Duty regulations, after hearing that some may be overcharging customers. Around 20 of the largest advice firms are receiving a survey from the regulator, but the FCA stressed that their selection had not been based on [...]
Ithaca Energy scales back North Sea investment due to energy windfall tax February 15, 2024 Ithaca Energy said today that its full-year earnings would be in line with its guidance, as the firm grapples with a sinking stock price. The North Sea oil and gas producer said 2023 production had been 70.2 thousand barrels of oil equivalent per day, matching expectations of 78-74. Last month, the firm’s chief executive Alan [...]
