Private equity giant 3i Group boasts strong results thanks to Dutch discount retailer February 1, 2024 Infrastructure giant 3i Group boasted of a "good result" for the last quarter of 2023, thanks in large part to its largest holding, Dutch discount retailer Action.
Cashing out: UK investors were ‘most negative’ last year with exodus from equities January 31, 2024 UK investors were the “most negative” of any country in 2023, withdrawing $1.8bn (£1.4bn) from equity funds throughout the year. Globally, the value of mutual funds rose to $10.7trn throughout 2023, largely due to surging asset prices, undoing the damage done by mass withdrawals in 2021, data from Calastone’s Global Fund Flows report revealed. The [...]
Private investors bail out of UK gilts after mini-budget chaos January 31, 2024 Ownership of UK government bonds (gilts) by private investors have fallen to their lowest level since 1996, dropping 44 per cent in less than three years, according to data from the Office of National Statistics. After peaking in December 2012, ownership of private gilts has been in terminal decline since September 2021. Now, only £3bn [...]
Business confidence bounces back in January to two-year high January 31, 2024 Business confidence has reached its highest level since February 2022, as firms bet that falling inflation and interest rate cuts will boost the economy. Overall confidence rose in the Lloyds Business Barometer, which measures businesses’ confidence by assessing their trading prospects and optimism in the economy, rose to 44 per cent in January, up nine [...]
Nvidia ranked second most popular stock by UK retail investors – but who came top? January 30, 2024 US chipmaker Nvidia was the second most popular buy among UK retail investors this month - but what was the most popular stock?
UK insolvencies skyrocket to 30-year high in ‘striking’ reminder of ‘onerous’ environment January 30, 2024 The number of company insolvencies has soared to its highest level since 1993, as voluntary liquidations reached the most since records began in 1960. The Office for National Statistics revealed today that throughout 2023, there were over 25,000 company insolvencies, with every category of insolvency rising compared to the year before. Mark Ford, partner in [...]
Saga surges towards profit in ‘stronger than expected’ six months January 30, 2024 Over 50s specialist Saga reported a “stronger than expected” six months this morning after announcing last week that it was looking to sell a stake in its cruise business to cover its debts. In a trading update, Saga revealed that over the last six months, revenues increased by between 10 to 15 per cent, while [...]
Fed’s preferred measure of inflation slowed in December – how will this impact rates? January 26, 2024 US core personal consumption expenditure (PCE) inflation, the Federal Reserve’s preferred measure of inflation, fell to 2.9 per cent in December, below expectations of three per cent and down from 3.2 per cent in November. PCE inflation differs from the traditional measure of inflation, the consumer price index (CPI), by including a wider scope of [...]
Paragon Bank meets expectations and reports ‘strong credit resilience’ January 26, 2024 Paragon Bank met expectations for its first trading update of the year, with the firm reporting “strong credit resilience” and arrears below the industry average. In the final quarter of 2023, margins ran slightly ahead of expectations for the bank, though the firm’s full-year guidance for margins, new business flows and operating costs remained unchanged. [...]
Takeover failure: UK’s Elementis rejects US private equity bid January 25, 2024 US private equity firm KPS Capital Partners has been rejected in its takeover offer for UK-listed chemical company Elementis. Elementis rejected a 160p per share takeover, with Reuters reporting that the firm’s board wanted around 180p. The firm is currently trading on 139p per share. Elementis has been under pressure for months from its shareholders [...]
