Activist fund Gatemore buys stake in DFS and warns of buyout vulnerability November 10, 2021 Gatemore Capital management has bought a stake in DFS and told its fund investors that the sofa chain is undervalued by public markets and thus ripe for a private equity bid. Adding to its roster of listed British retailers, which includes Moss Bros, French Connection and Superdry, the activist fund told investors last month that [...]
The virtual metaverse requires very real-world regulation November 10, 2021 Regulators tend only to emerge in the spotlight of public scrutiny when something goes wrong. FCA bosses have spent the last couple of years being wheeled in front of Select Committees to explain the colossal cock-ups that led to the London Capital & Finance minibond scandal – including its former boss Andrew Bailey, who despite [...]
Ireland begins reactivating no-deal contingency plans as potential unravelling of Brexit accord looms November 10, 2021 The Irish Government has begun reactivating no-deal contingency planning in preparation for a potential unravelling of the Brexit deal. Talks between London and Brussels over the contentious protocol remain deadlocked and there is growing speculation that the UK is poised to trigger Article 16 in the coming days. Lord Hain, a former secretary of state [...]
If EU starts post-Brexit trade war it is a political strategy to weaken Northern Ireland’s place in UK, says Stormont minister November 10, 2021 A Stormont minister said this morning that if the EU triggers a trade war in the Irish Sea border dispute, it would be a political bid to weaken Northern Ireland’s place in the UK,. DUP Agriculture Minister Edwin Poots was responding to suggestions that the EU could axe the Brexit trade deal if the UK [...]
M&S shares surge more than 15 per cent following full year profit hike November 10, 2021 Marks and Spencer (M&S) has lifted its full year profit expectations as the high street retailer looks to expand its store offering – and take over six former Debenhams sites. Shares surged a massive 15.76 per cent to 225.10p per share by mid-morning, boosting the entire market. “The shares have come roaring back from the [...]
Brexit in the City: New powers for watchdogs FCA and PRA as UK moves away from EU rules November 10, 2021 The City’s main regulators, the Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA), will be given new powers to set rules as the UK moves away from the EU framework after Brexit, according to Government proposals. Regulators will be required to consider how the UK’s financial sector can grow and compete internationally when setting [...]
City watchdogs ordered to go for growth by government November 9, 2021 The government will task financial regulators with boosting the City’s competitiveness as part of a push to secure the UK’s status as a leading financial hub. In a sweeping set of reforms launched yesterday designed to overhaul the regulatory regime shaping the City, the government said regulators would be given a further objective to “facilitate [...]
The virtual metaverse requires very real-world regulation November 9, 2021 Regulators tend only to emerge in the spotlight of public scrutiny when something goes wrong. FCA bosses have spent the last couple of years being wheeled in front of Select Committees to explain the collossal cock-ups that led to the London Capital & Finance minibond scandal – including its former boss Andrew Bailey, who despite [...]
UK audit reforms and governance to be watered down after business backlash November 9, 2021 The UK’s reform package to overhaul corporate governance and auditing will be “scaled back” following pushback by businesses, according to reports. Officials working on the plans, which are being finalised, are expected to water down some of the proposals, the Financial Times reported. The reform package, which has been touted as the biggest overhaul to [...]
A bird? A plane? It’s time to turn to railways to solve fraught supply chains November 9, 2021 Last month, shipping giant Maersk was forced to divert container ships from Felixstowe because of backlogs caused by the HGV driver shortage. It reignited fierce debates around Brexit, Covid and other woes. But the truth is Britain’s freight infrastructure has long faced such problems – and this was just another symptom of a wider malaise. [...]