SPACs are back: Blank-cheque firm raises $550m in London’s biggest IPO this year May 17, 2023 A special purpose acquisition company (SPAC) has bagged $550m in an initial public offering on the London Stock Exchange today in the UK’s biggest listing so far this year.
Bank of England governor Andrew Bailey warns of uncertainty over inflation drop May 17, 2023 The risk of inflation staying higher for longer than the Bank of England’s two per cent target than it expects is mounting due to the slow reduction of wage pressures and price rises, the Governor of the central bank warned today. Speaking at the British Chambers of Commerce’s (BCC) annual conference, Andrew Bailey warned the [...]
Ailing online estate agent Purplebricks to be sold for just £1 with job cuts expected May 17, 2023 Struggling online estate agent Purplebricks will be sold to rival firm Strike for just £1, the company announced today. After struggling to improve its performance, the firm put itself up for sale in February. The announcement saw Purplebricks’ share price plummet, down 42 per cent at the time of reporting to 76p. Shares have fallen [...]
Jeremy Hunt: UK not ‘in a position’ to know if it can cut taxes before election May 17, 2023 The government is currently not “in a position to know whether we’re going to have any headroom at all” to cut taxes in the run up to the next election, Jeremy Hunt claimed today. Speaking at the British Chambers of Commerce’s (BCC) annual conference, the Chancellor said he and Prime Minister Rishi Sunak “have our [...]
Experian shares tumble as investors fret over cautious forecast May 17, 2023 Shares in credit checker Experian fell sharply in early trading this morning after the firm revealed it had suffered a 19 per cent contaction in profits for the full year.
Treasury Committee’s call for digital assets to be regulated same way as gambling industry is slammed by crypto leaders May 17, 2023 Crypto leaders in the UK have branded a government body’s calls for unbacked digital assets to be regulated in the same way as the gambling industry as 'an appalling backwards step'.
FTSE 100 close: London ends in the red as BoE’s Bailey warns of persistently high inflation May 17, 2023 London’s FTSE 100 index fell on Wednesday evening as Andrew Bailey warned that the UK would face high inflation for months to come. The capital’s premier index closed down 0.36 per cent at 7,723.23 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, fell 0.30 [...]
Bitcoin and Ethereum down as uncertainty around macro events lingers May 17, 2023 Bitcoin (BTC) is again changing hands for less than $27,000, as Ethereum (ETH) trades sideways above $1,800.
UBS saw Credit Suisse deal as ‘not desirable’ – and could now take $17bn hit from it May 17, 2023 UBS estimates it will take a $17bn hit from the takeover of its long time rival Credit Suisse as regulatory filings reveal it never wanted the deal to take place. UBS estimates a negative impact of $13bn from fair value adjustments and $4bn in potential litigation and regulatory costs. UBS executives have previously warned that [...]
Starmer: ‘We’re not going to re-enter the EU – but the trade deal needs to be improved’ May 17, 2023 Sir Keir Starmer said the Brexit deal needed to be improved after the owner of Vauxhall said it will be unable to keep its commitment to make electric vehicles in the UK without changes to the trade agreement with the European Union. The Labour leader made his comments after one of the world’s largest carmakers [...]
