Column: Water, water everywhere… October 23, 2024 Or why the latest twist in the sewage tale suggests a rebalancing of Labour’s priorities England’s water system made a splash again this week, hitting the headlines as the government announced their latest move to – as they put it – clean up the industry. An independent review, led by none other than the former [...]
IMF warns UK is at risk of ‘adverse market reaction’ without action on debt October 23, 2024 Government debt will rise through the 2020s, surpassing GDP and putting the UK at risk of an "adverse market reaction", the IMF warned.
Analysts split over US listing for Watches of Switzerland following activist investor campaign October 23, 2024 London-listed Watches of Switzerland has come under pressure from activist investor Gatemore Capital Management to ditch its UK listing for the US, with analysts split over whether the decision would be beneficial for the firm. The UK’s biggest Rolex seller, which runs 221 stores globally, listed in London in 2019 and is currently a member [...]
Addison Lee: London’s private hire cab firm set for £269m takeover October 23, 2024 Singapore-listed transport giant ComfortDelGro has accelerated its global expansion strategy with a takeover of London’s premium private hire cab service, Addison Lee, for £269.1m. The deal, which will take place through its subsidiary Cityfleet Networks, is set to drive the growth of Comfortdelgro, boosting its taxi and private hire fleet to over 34,000 vehicles worldwide. [...]
Mike Ashley’s Frasers abandons Mulberry bid amid governance concerns October 23, 2024 Frasers Group, led by Mike Ashley, has confirmed it will not pursue a bid for Mulberry, after the iconic British luxury brand rejected its two previous cash offers earlier this month. The first bid, launched on 1 October at £83m, was dismissed by Mulberry as undervaluing the brand. A subsequent offer on 10 October at [...]
Budget borrowing will slow Bank of England rate cuts, economists warn October 23, 2024 Chancellor Rachel Reeves is hoping to raise £40bn in next week's Budget to help fund higher spending on public services. This will largely come through higher taxes.
Moneybox: Fintech’s valuation surges after reporting profit October 23, 2024 Moneybox has secured a £550m valuation ahead of a secondary share sale, after the savings and investment platform moved into annual profitability.
Arm set to cancel chip design licence for Qualcomm October 23, 2024 Qualcomm has accused British chip designer Arm of strong-arm strategies after the company said it would cancel its chip design licence with the American manufacturer. Qualcomm, which uses Arm’s designs for its chips, claimed on Tuesday the move was an attempt to hike royalty rates. It also said it could disrupt an ongoing intellectual property [...]
Reeves planning national insurance on employer pension contributions, as workers spared October 23, 2024 The move would raise £15.4bn, which would go a long way to filling the £40bn which Reeves hopes to raise through a combination of tax rises and spending cuts.
Lloyds finance chief calls for ‘pro-growth’ Budget amid fears of bank tax raid October 23, 2024 Lloyds Banking Group’s finance chief has suggested tax rises on UK banks could hinder lending and investment as the sector braces for a possible raid in the government’s maiden Budget next week. Speaking after Lloyds’ third quarter results this morning, William Chalmers said banks are already among Britain’s biggest taxpayers and the FTSE 100 group [...]
