Exclusive Neil Woodford interview: who he blames for his fund’s collapse December 17, 2024 In his first interview in years, former star manager Neil Woodford makes it clear where he believes the blame for his collapsed fund lies.
Strong wage growth kills hopes of interest rate cut December 17, 2024 Analysts have warned that strong wage growth data reported this morning has killed any chance that the Bank of England will cut interest rates later this week. While the central bank had been widely expected to hold interest rates at its Monetary Policy Committee meeting on Thursday, the decision has been cemented by wages rising [...]
Capita revenue plunges as outsourcing giant hit by contract losses December 17, 2024 Outsourcing firm Capita saw its adjusted revenue drop eight per cent in the first 11 months of the year, as the firm struggled to replace a host of lost contracts. In a trading update, the company revealed that the drop came largely from its experience arm, which fell a whopping 16.3 per cent over the [...]
UK wages continue to surge as Bank of England set to decide on interest rates December 17, 2024 UK unemployment remained steady over the last three months as wage growth surged over the quarter to October. Unemployment was unchanged at 4.3 per cent for the second straight month during October, data from the Office for National Statistics revealed. The number of people claiming jobless benefits climbed by just 300 in November, beating the [...]
Canal+ float fails to make a splash as shares fall more than 23 per cent December 16, 2024 The float of Canal+ on the London Stock Exchange got off to a shaky start with its share price dropping more than 23 per cent, valuing the company at around £2.4bn. The only £1bn-plus IPO of the year is the product of a long-awaited breakup of Paris-based Vivendi, which acquired Canal+ in 2000. Shares of the Paddington [...]
UK companies cut jobs at fastest rate in nearly 4 years December 16, 2024 The private sector cut jobs at the fastest rate for nearly 4 years in December as firms respond to new tax rules announced in the Budget. The latest S&P Global Flash UK Purchasing Managers’ Index (PMI) found that while the headline figure for business confidence was unchanged from November, thanks to a marginal increase in [...]
‘Czech Sphinx’ Royal Mail takeover signed off by government and unions December 16, 2024 The takeover of Royal Mail parent company International Distribution Services has been signed off by the government and unions, as EP Group is now set to officially gain control of the firm. The £3.6bn takeover by ‘the Czech Sphinx’, billionaire Daniel Kretinsky, was approved by shareholders in September, and was waiting on approval from the [...]
Ageas to acquire part of Saga’s insurance business in 20-year deal December 16, 2024 Saga, the financial services and travel provider for over-50s, has begun a 20-year partnership for motor and home insurance with Belgian insurance giant Ageas. Ageas’ UK arm will take over Saga’s price-comparison website, pricing, claims and customer service activities, while Saga will hold onto brand and direct marketing. Under the terms of the deal, Saga [...]
Foreign takeovers surge as buyers strike megadeals December 12, 2024 The foreign takeover raid on UK companies accelerated this year as international buyers struck a series of mega deals to acquire listed companies. In the ten months to the end of October, deals launched by foreign buyers with a UK target had jumped 55 per cent to $116bn (£91bn), with the number of deals increasing [...]
US inflation ticks up as market holds breath for Fed cut December 11, 2024 US inflation ticked up to 2.7 per cent in November, a rise from 2.6 per cent in October and matching analyst expectations. This was the highest level of inflation that the US has experienced since July, after dipping to as low as 2.4 per cent throughout September. Inflation has not been below its 2 per [...]
