Thames Water allowed 35 per cent bill hike but faces £18m fine over dividend payouts December 19, 2024 Ofwat will use new powers to fine Thames Water £18m for two dividend payments it made in the last year and a half.
FCA extends motor finance complaint deadline December 19, 2024 The Financial Conduct Authority (FCA) has extended the time that companies have to respond to motor finance complaints following a landmark high court ruling. In an announcement today, the City watchdog said firms will have until 4 December 2025 to provide a final response to customer complaints over the use of non-discretionary commission arrangements (non-DCAs). [...]
Why one US hedge fund is taking aim at the UK’s biggest investment trusts December 19, 2024 A shake up could be coming for the UK’s investment trust industry after US hedge fund Saba Capital launched a campaign to topple the boards of seven different companies yesterday. “Like the Ghost of Christmas Past, Saba has descended upon the investment trust industry, urging self-reflection,” said Shavar Halberstadt, analyst at Winterflood. There have been [...]
A turbulent year for London’s markets… in four graphs December 19, 2024 “There’s always light at the end of the tunnel,” said one London Stock Exchange executive in March, just after two more firms announced they were heading for the exit. “Don’t lose your head amongst all the doom-mongering.” It is a mantra that London’s bourse has had to hold onto over the past 12 months as [...]
Was 2024 the year of the stockpicker? Nope. December 18, 2024 Every year, asset managers claim that this year is the year of the stockpicker. At the start of 2024, Bank of America claimed that “active funds will have greater odds of selecting winners in 2024”. “We expect more idiosyncratic opportunities next year given elevated valuation dispersion and increased public market inefficiencies, which should create a [...]
Honda and Nissan merger talks spark UK job fears December 18, 2024 Experts say the UK's unfavourable tax environment and declining automotive sector put it at greater risk as the industry consolidates.
Southeastern boss: Success is not about public or private ownership December 18, 2024 City AM chats with Southeastern Railway's chief Steve White on Covid-19, Labour's reforms and his plans to bring down costs.
Brexit hit to UK trade not as bad as first thought December 18, 2024 The negative impact Brexit had on UK trade may have been softened by big firms adapting to EU barriers, fresh research from a top London university has shown. A report from the Centre for Economic Performance, linked to the London School of Economics, found that “in the short run, aggregate trade proved moderately resilient” to [...]
London rents rise again as house prices hold: ‘It is nothing short of brutal’ December 18, 2024 Rents in London have continued to show double-digits rises despite a stablisation in the housing market and lower mortgage rates. Average UK private rents increased by 9.1 per cent in the 12 months to November 2024, with rents in London up 11.6 per cent, according to the latest ONS figures. Propertymark chief Nathan Emerson called [...]
US hedge fund launches activist offensive against UK investment trusts December 18, 2024 US hedge fund manager Saba Capital has launched a campaign to oust the boards of seven top UK investment trusts today after amassing stakes in the firms over the past year. In an open letter to the companies today, the activist investor said it was triggering shareholder votes to “elect new directors with a concrete [...]
