Are the super-rich running out of road? September 4, 2024 As more western governments look at ways to increase taxes for the ultra-rich, Ali Lyon asks whether it will work
CMA clears Microsoft and Inflection AI partnership after merger ruling September 4, 2024 Britain’s competition regulator has today cleared Microsoft’s arrangements with Inflection AI, which included a licensing deal and the hiring of former Inflection employees. The Competition and Markets Authority (CMA) announced in April it was looking at three separate deals that potentially fall under UK merger law and, if so, whether they could have a harmful [...]
UK set to be the ‘standout performer’ among major economies September 4, 2024 Analysts at Panmure Liberum think the UK will be the “standout performer” among major economies in the months to come with firms set to benefit from strengthening domestic demand. In a note published this morning, the City brokerage discussed its early cycle indicator (ECI), a tool for predicting how economies are likely to perform over [...]
Revolut to ‘aggressively’ double down on business accounts after surge in revenue September 4, 2024 The head of Revolut's business-to-business offering has said it is "aggressively doubling down" on the market, after the unit's global revenues exceeded $500m (£380m) this summer.
Chapel Down: Half-year profit almost wiped out as wine maker blames ‘one-off factors’ September 4, 2024 English wine producer Chapel Down has blamed ‘one-off factors’ for its pre-tax profit almost being wiped out during the first half of its financial year. The Kent-headquartered company, which is listed on AIM, said the fall from £2.4m to £40,000 in the in the six months ended 30 June was due to a ‘difficult macroeconomic environment’, [...]
Haven and Warner Hotels owner slips into the red after Butlin’s sale September 4, 2024 The group behind Haven holiday parks and Warner Leisure Hotels fell into the red after the sale of Butlin’s, it has been revealed. Bourne Leisure, which is owned by investment giant Blackstone, has reported a pre-tax loss of £166.5m for 2023, according to newly-filed accounts with Companies House. The loss comes after the group reported [...]
Hilton Foods: Profit soars at meatpacker as it looks ahead to Walmart site September 4, 2024 Hilton Foods’ seafood and core meat divisions helped bolster the meatpacker’s first-half results as the company geared up for further growth. The FTSE 250 constituent, which had struggled to deal with the rampant inflationary pressures of the last two years, posted a 23.2 per cent rise in adjusted operating profit to £46.9m on a constant [...]
Barratt: Profit halves at housebuilder but firm optimistic after Redrow deal September 4, 2024 Housebuilder Barratt reported a halving in profit and drop in completions amid a challenging housing market, but has said it is optimistic about the future. Barratt said its total home completions in the year ended 30 June reached 14,004, down 18.6 per cent from 17,206 in 2023 but at the upper end of the company’s [...]
Segro pounces on Tritax Eurobox with all-share £552m offer September 4, 2024 The London-listed warehouse giant Segro has made an offer for its smaller peer, Tritax Eurobox. Sergo and Tritax Eurobox announced this morning they had reached an agreement on the terms of a recommended all-share offer by Sergo for the entire issued and to be issued share capital of Tritax Eurobox. Segro has agreed to pay [...]
M&G no longer the industry exception as investors pull £1.5bn September 4, 2024 Investors in M&G pulled £1.5bn from the investment manager over the last six months, as the group finally fell foul to the mass withdrawals that have plagued the industry. The outflows from M&G came as a surprise, as the group has traditionally been able to avoid the negative sentiment felt by many other British money [...]