THG shares tumble after bosses shut down Apollo takeover talks May 12, 2023 Retail group THG has shut down takeover talks with Apollo after its board deemed the US buyout giant had tabled “inadequate valuations” for the firm.
‘I’m sick of the UK bashing – it’s an incredible place to start a business’ – why PrimaryBid chief Anand Sambasivan is still bullish on London May 11, 2023 The chief of fintech PrimaryBid tells Charlie Conchie why he's bullish on London's prospects despite a capital markets downturn
FTSE 100 close: ASOS shares nosedive 22 per cent after posting dim results May 10, 2023 London’s FTSE 100 slipped in the City today as online fashion retailer ASOS was pummelled after a dim set of results. The capital’s premier index shed 0.29 per cent to close at 7,741.32 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, lost 0.15 per [...]
Consumer Duty: why City firms need to prepare now or face ‘robust action’ May 10, 2023 A clampdown is looming for City firms as the Financial Conduct Authority prepares to roll out its new consumer duty this summer, in the biggest shake-up of consumer protections in over a decade.
Banking crisis: DIY investors piled into Credit Suisse and Silicon Valley Bank trades during turmoil May 9, 2023 Do-it-yourself investors piled into banking trades in the first quarter of the year as the sector was shaken by the collapse of Silicon Valley Bank and shotgun sale of Credit Suisse to UBS, new data has revealed.
Tesco chairman accused of inappropriate behaviour, Guardian reports May 9, 2023 The Tesco chairman John Allan has been accused of alleged inappropriate behaviour relating to four women, according to reports in the Guardian. Allan, the newspaper claims, allegedly touched the bottom of a senior female Tesco staff member in June 2022, at the firm’s annual general meeting (AGM). He also allegedly touched the bottom of a [...]
City needs a whole ecosystem to attract the best and brightest May 9, 2023 Soft power success or waste of time and money? We’re more inclined to side with the Lord Mayor than some on Twitter when it comes to the weekend’s festivities. Clearly, the coronation was always going to kick off an almighty debate on the role of the Royal Family in the twenty-first century; but regardless of [...]
UK to officially avoid recession in first half of this year as Bank of England readies twelfth straight interest rate rise May 8, 2023 Britain is set to have officially avoided a recession in the first half of this year in a sharp turnaround in fortunes for the country’s economy, figures out this week are expected to reveal. Gross domestic product (GDP), which measures the amount of goods and services produced in the UK, is anticipated to have risen [...]
Coronation weekend: Brits to splash out an extra £3bn on food, drink and entertainment May 4, 2023 Brits are expected to ring in the Coronation of King Charles III this weekend in the time honoured tradition of emptying their wallets faster than usual. It is predicted consumers will fork out around £8bn over the Coronation bank holiday weekend, with £3.22bn more spent than during a typical May bank holiday. Of the £3bn [...]
Trainline shrugs off UK strikes with £4.3bn in ticket sales as continental success keeps it on right track May 4, 2023 Trainline reported bumper ticket sales of £4.3bn for the last 12 months, up 72 per cent year on year and 16 per cent higher than pre-Covid. The London-listed seller saw revenues of £327m, up 74 per cent from last year, citing surging ticket sales in the UK and on the continent especially as a key [...]