English cricket catches the eyes of private equity powerhouse in £400m bid November 26, 2022 The England and Wales Cricket Board (ECB) has reportedly caught the eyes of private equity powerhouse Bridgepoint Group. The UK private equity firm has tabled £400m to bring The Hundred under its wing, Sky News first reported today. A source close to the ECB said Bridgepoint had proposed buying a 75 per cent stake in [...]
Hunt rejects OBR forecasts of Brexit hit to UK economy November 24, 2022 Forecasts of the economic hit caused by Brexit from the UK’s budgetary watchdog are wrong, according to chancellor Jeremy Hunt. Hunt today said he doesn’t “accept” predictions by the Office for Budget Responsibility (OBR) that the UK’s economy will be 4 per cent smaller in the medium-term due to Brexit. Hunt told Sky News that [...]
Exclusive: Sky Mobile boss says Brits are holding on to old phones to save cash November 24, 2022 The boss of Sky Mobile has said people are keeping their mobile phones for double the time as the cost of living crunch sets in. Speaking with City A.M., managing director Paul Sweeney said that customers are increasingly holding onto older devices for as long as three years rather than the more standard year and [...]
Feeling the chill: Hospitality bosses fear energy firms are profiteering in a crisis November 24, 2022 Hospitality bosses have accused suppliers of “deliberately profiteering” of the energy crisis, writes City A.M.
Glazers to explore sale of Manchester United, state reports November 22, 2022 Premier League club Manchester United’s owners, the Glazer family, are reportedly ready to announce their intention to look at potential investment in the club. The news could see one of the world’s most famous clubs change hands after a dynasty of ownership lasting 17 years. The examination of potential income sources could include an auction, [...]
Brexit: Barclay denies UK wants ‘Swiss-style’ relationship with EU November 20, 2022 A senior cabinet minister has denied reports the UK wants a closer “Swiss-style” relationship with the EU post-Brexit. Health secretary Steve Barclay has said he doesn’t “recognise” the proposal and that chancellor Jeremy Hunt outlined “our determination to maximise post-Brexit opportunities in pro-growth areas” during his autumn statement on Thursday. The Sunday Times reported today [...]
Exclusive: Brits ready to splash £300m in World Cup flutter November 18, 2022 BRITISH punters are set to splash over £300m during the Qatar World Cup, according to new data from gambling titan Flutter. As owner of Paddy Power, Sky Bet and Betfair UK, Flutter said the tournament would undoubtedly be the biggest betting event of the year – on track to surpass the 2018 World Cup figures, [...]
UK assets in focus this week November 16, 2022 This week’s focus in markets apart from the US’s weak inflation print last week is on Sterling and the FTSE in the wake of a raft of economic data points, as well as the new Chancellor Jeremy Hunt’s Autumn statement on Thursday the 17th. UK inflation this morning came in at a level not seen [...]
A little birdwatching: Are tech firms like Musk’s Twitter ready for regulation? November 16, 2022 ELON MUSK’s dramatic takeover of Twitter – complete with firing the entire management team and half the staff – has been the talk of, ahem, Twitter for the past week, as well as much of the rest of the world. It has also divided opinion amongst the most strongly politically engaged. Many on the right [...]
Ahead of Budget: Millions of terrified businesses fear they will not survive another year November 16, 2022 In the midst of political uncertainty and ahead of the Autumn Statement, a quarter of SMEs believe the UK economy has been damaged irreversibly by Brexit and Covid-19 – with an astonishing 64 per cent of business owners stating they are worried their businesses won’t survive the next 12 months. The fresh data reveals a [...]