FTSE 100 Live: Stocks to tumble as interest rate decision looms; Oil falls as ‘economic catastrophe’ avoided
The City View: January 19: Inflation and B-Corps January 19, 2022 Today Andy Silvester is joined by Kin + Carta CEO J Schwan, and by Jack Barnett to discuss today’s news on inflation and future rate rises by the Bank of England. Andy also goes through the headlines, which include GSK’s rebuttal of a £50bn Unilever merger, corporate results, and today’s political news as Boris Johnson [...]
Unilever backs down on raising £50bn bid for GSK consumer health arm January 19, 2022 Unilever has announced it will not raise its £50bn bid for GlaxoSmithKline's consumer health arm after the pharma giant rebuffed its approach in December.
GSK science chief to depart as pharma giant looks to revamp drugs pipeline January 19, 2022 GlaxoSmithKline's chief scientific officer Hal Barron will leave the firm this year to join a Silicon Valley anti-ageing start up.
Strong jobs market print fails to dampen inflation fears on London markets January 18, 2022 Inflation jitters spreading throughout the City led London markets sharply lower today. The capital’s premier FTSE 100 dipped below the 7,600 mark by closing the day down 0.63 per cent, while the domestically-focused FTSE 250 fell 0.96 per cent to 22,652.71 points. Figures released by the Office for National Statistics (ONS) today revealed the unemployment [...]
Credit Suisse’s scalped chairman lays bare the new rules of post-purpose business January 18, 2022 Perhaps it’s time for an amnesty. All those in prominent positions in public life who flouted a lockdown rule here or there should fess up in return for a short, sharp rebuke from Sue Gray and no further repercussions. No doubt the prime minister would welcome such a resolution. But it would come too late [...]
FTSE 100 breaks another post-lockdown record by breaching 7,600 mark January 17, 2022 London’s premier index smashed another post-lockdown record yesterday in a sign investors are looking through the Covid-19 crisis. The FTSE 100 closed 0.91 per cent higher yesterday, breaching the 7,600 mark for the first time since January 2020. Sentiment was boosted by international investors waking up to the fact that large swathes of companies listed [...]
Bankers prepare £25bn package as private equity firms circle GSK January 17, 2022 Bankers are putting together major financing packages in preparation of a potential private equity bid for GlaxoSmithKline’s consumer healthcare business.
‘Marmite situation’ for GSK investors as Unilever bids spark potential bidding war January 17, 2022 Analysts have predicted a potential bidding war erupting for GSK’s consumer arm.
Unilever share price dives 7 per cent as £50bn battle for GlaxoSmithKline’s consumer business begins in earnest January 17, 2022 The main City story this morning is the £50bn bid by Unilever for GlaxoSmithKline’s consumer healthcare business, of which it owns a 68 per cent stake along with Pfizer, which Glaxo said it had rejected. “No doubt in the hope that Unilever will come back with a higher offer, with the sum of £60bn being [...]
Unilever offer for GSK consumer arm is short by £5bn say analysts January 17, 2022 Unilever’s rejected £50bn offer for Glaxo Smith Kline’s (GSK) consumer business falls short according to market analysts. Marmite maker Unilever has had three unsolicited offers rebuffed by GSK including a bid made last month which comprised of £41.7bn in cash and £8.3bn in company shares. Analysts have questioned the financial reasoning behind Unilever’s bid with [...]