Ashmore: Mixed results as emerging market withdrawals remain sky-high September 5, 2024 Emerging markets investment manager Ashmore reported a 12 per cent drop in adjusted profit before tax for the year to 30 June 2024. The group reported an adjusted profit before tax of £105.4m, below expectations of £113m and 2023’s figure of £119.4m. Ashmore has experienced years of withdrawals from investors, and the trend has shown [...]
RM Funds poaches Brooks Macdonald fund mandate September 5, 2024 RM Funds, best known for its shareholding in embattled investment trust Home REIT, has won the mandate for the £146.6m Brooks Macdonald Defensive Capital fund. The Defensive Capital fund, which will be renamed as the RM Defence Capital fund, was launched in 2010. It is built as an all-weather return fund with low volatility through [...]
The Debate: Should workers have the right to a four-day week? September 5, 2024 Would you want to compress your hours into a four-day week? The answer won't be the same for all employees...
Pension giants risk snubbing smaller stock markets in Mansion House investment drive September 5, 2024 Top pension fund managers risk neglecting London's junior stock markets and have made only sluggish progress on a landmark pledge to inject some £75bn into growth companies by 2030, a London business body has said.
M&S hail fresh start as turnaround bears fruit but still ‘potential for growth’ September 5, 2024 Marks and Spencer‘s bosses have hailed the start of a new era for the multi-market firm as the turnaround plan it began in 2022 shows signs of having created long-term, sustainable growth potential. M&S clothing and home managing director Richard Price said that perception of the brand has improved in recent years, but there are [...]
UK unlikely to move into ‘fast lane’ despite surprisingly strong growth this year September 5, 2024 The British Chambers of Commerce (BCC) has lifted its growth forecasts for the economy this year, but remained doubtful that the UK would move into the “fast lane” any time soon. The business group’s latest quarterly projections suggest the UK will grow 1.1 per cent this year, an upgrade on its previous estimate of 0.8 [...]
Worst Corporate Jargon of the Week Awards: Scrum September 5, 2024 A scrum is not a casual Slack video call or an innocent gathering of penguins. No, a scrum is something more akin to a belief system.
Water bosses risk prison time as government launches crackdown September 4, 2024 Bosses of water companies who obstruct watchdog investigations could face up to two years behind bars, as the government unveils tough new laws to ramp up enforcement. The Water (Special Measures) Bill was introduced in Parliament on Wednesday and will grant sweeping new powers to the Environment Agency (EA), the Drinking Water Inspectorate and Ofwat [...]
Grenfell: Barratt says fixing widespread cladding issues will take up to five years September 4, 2024 Barratt has said there is a shortage of qualified fire engineers who are able to refit buildings to reliable safety standards in light of the Grenfell tower disaster. “We recognise that this will take another three to five years to work through to resolution,” chief executive David Thomas said in the company’s full-year results. “There [...]
Tory leadership contest: Priti Patel knocked out of race as Robert Jenrick leads field September 4, 2024 Dame Priti Patel has been knocked out of the Tory leadership race to replace Rishi Sunak, as rival Robert Jenrick was revealed to be leading the field. The results of the first ballot of MPs were revealed this afternoon with the former immigration minister emerging as the favourite among Conservative MPs to lead the party. [...]
