Budget 2021: As it happened March 3, 2021 Live updates and links to all our coverage, reactions and analyses as the Chancellor of the Exchequer delivers the government’s Budget later today – at 12.30pm. Please also visit our dedicated Budget 2021 Hub. Wrap-up of the main Budget announcements Here’s a wrap-up of the main announcements made by the chancellor in his spring Budget: [...]
Spac revolution set to unlock Big Bang 2.0 for the City of London March 3, 2021 The UK is set to spark a second Big Bang for the City post-Brexit, with a landmark government report calling for regulators to allow Spacs to list in London and ease a range of share listing restrictions. Lord Jonathan Hill’s report into future financial services regulation, released today, calls for a range of deregulatory measures [...]
The investor’s dilemma: do sustainable funds need a digital detox? March 3, 2021 Netflix documentary The Social Dilemma makes for uncomfortable viewing for users of social media channels such as Facebook, Instagram, Snapchat, YouTube or Twitter. i.e. pretty much all of us. And as a sustainability specialist who invests (at the time of writing) in Alphabet , the parent company of Google and YouTube, I find the issues covered extra [...]
Budget 2021: Tax hikes are the same as austerity and will spell Rishi Sunak’s downfall March 2, 2021 Chancellor Rishi Sunak’s budget marks the beginning of a damaging era of austerity that risks crushing Britain’s economic recovery. While other countries are trying to jumpstart their economies, Rishi is expected to ratchet up income and corporate taxes to address the mounting deficit. The Chancellor is right that Britain’s fiscal position is not sustainable. It [...]
Grave concerns prompt watchdog intervention on pre-paid funeral plans March 2, 2021 The City regulator has launched a consultation on how it plans to regulate the pre-paid funeral plans sector, which has faced criticism from the media and consumer groups. Under its remit, the Financial Conduct Authority (FCA) intends to ensure the products meet the individual needs to consumers, the plans are sold fairly and the price [...]
Ebay and Adevinta sell British units to secure CMA approval March 2, 2021 Ebay and Adevinta have announced plans to divest three smaller British units, including Gumtree, in a bid to secure regulatory approval for their merger. The Competition and Markets Authority (CMA) last month said the two companies would have to resolve their concerns before proceeding with the $9.2bn tie-up. As a result the companies have set [...]
Will pressure on Chinese tech firms spark renewed interest in value stocks? February 26, 2021 The flotation of Ant Group in December last year was supposed to be a landmark event. The initial public offering (IPO) was set to raise $37 billion, valuing Ant at over $313 billion and making it the biggest IPO ever. It was due to list in Hong Kong and Shanghai, rather than having a US [...]
Kalifa Review: Others waiting for UK fintech’s ‘crown to slip’ February 26, 2021 The head of the much-awaited government-backed review into the fintech industry has warned the UK risks falling behind if recommendations aren’t quickly implemented. Former head of payments firm Worldpay Ron Kalifa led the review published today which sets out plans to capitalise on the growing fintech industry. The scope of the review is large, ranging [...]
O2’s £31bn Virgin Media merger ‘will help UK pandemic recovery’, says CEO February 25, 2021 O2’s proposed £31bn tie-up with Virgin Media will accelerate investment in telecoms infrastructure and bolster the UK’s post-pandemic recovery, the mobile network’s boss has said. The mega-merger, agreed last year by O2 owner Telefonica and Virgin Media parent Liberty Global, is facing an in-depth probe by regulators amid concerns it could harm competition. But O2 [...]
Why are UK mid caps in such an M&A sweetspot right now? February 22, 2021 It would be difficult to miss the fact that UK mid cap companies are attracting a renewed level of bid interest at present. So much so that, every morning, when I log in to my virtual workplace, I am mentally preparing myself to see a new headline about the next one to be bid for. [...]