Jefferies upgrades Rightmove as REA group eyes £4.4bn takeover bid September 9, 2024 Jefferies analysts have upgraded their guidance for Rightmove as they believe Australian real estate giant REA Group will probably make a formal offer for the British property platform. Last week, Rupert Murdoch’s News Corp-backed REA said it is considering a £4.4bn cash and share offer for Rightmove, sending the latter’s shares up nearly 25 per cent. Rightmove [...]
Asda: Huge equal pay court case starts amid demonstrations September 9, 2024 A court case over equal pay involving more than 60,000 Asda workers has started amid demonstrations being staged in Brighton and Manchester. The GMB union, which has said the case is the biggest ever in the private sector, is arguing that the predominantly female retail workforce is paid up to £3.74 an hour less than [...]
Government must fix ‘antiquated’ business rates, firms and CBI urge September 6, 2024 The government must fix the “antiquated” business rates system which is dampening productivity and growth, firms and the Confederation of British Industry (CBI) has urged. A cross-sector panel including retail and manufacturing firms met to develop proposals to improve the current system in a bid to boost investment and supercharge the economy. CBI chief executive [...]
The City needs a shake-up for Britain to attract the £1trillion it needs, warns Sir Nigel Wilson September 6, 2024 The UK must unlock a wave of cash from domestic pension funds and revamp the structure of its capital markets to attract the £1 trillion of investment needed to achieve its target growth rate over the next decade, a report by a City grandee has found. The Capital Markets of Tomorrow report, led by former [...]
PwC UK orders staff to spend more time in office and meet clients in person September 5, 2024 PwC UK has ordered staff to spend more time in the office and meet clients in person, as the accounting giant becomes the latest firm to adopt tighter rules on working from home. The Big Four firm told its employees and partners on Thursday that its new hybrid working policy would require them to spend [...]
Reeves is right to squeeze private equity – but a sweeping capital gains hike will hurt the City, says Cavendish chair September 5, 2024 The government is right to launch a raid on the profits made by private equity bosses but a sweeping hike in capital gains and inheritance tax could suck investment out of the City, the chair of investment bank Cavendish has warned. Lisa Gordon, who chairs the London-listed broking group, urged Rachel Reeves to be “more [...]
Lloyd’s of London reports ‘superb’ first half but warns of digitisation delays September 5, 2024 Lloyd’s of London, the storied insurance market and one of the world’s largest providers of reinsurance, has reported a jump in profit today but warned its landmark digitisation project was taking “longer than expected”. Lloyd’s reported an overall profit before tax of £4.9bn in the first half of 2024, up from the figure of £3.9bn [...]
Ed Warner: My trip to the Paralympics taught me that sport is bad for your health September 5, 2024 Our sport business columnist on the danger of watching the Paralympics, dynamic pricing, election season in Olympic land, and Scotland’s Commonwealth Games dilemma. Watching sport is bad for your health. Or can be. I’m glad I wasn’t strapped to a heart-rate monitor during the wheelchair rugby in Paris over the past week or I would [...]
Mark Kleinman: Concorde successor’s failure risks chain Reaction September 5, 2024 Mark Kleinman is Sky News’ City Editor and is the man who gets the City talking in his weekly City A.M. column. This week he tackles Reaction Engines, PRS REIT and EMK Capital Concorde successor’s failure risks chain Reaction What about this for an adverse Reaction? Two leading City fund managers – Artemis and Schroders [...]
How brickies built the UK’s fastest growing radio broadcaster September 5, 2024 Video may have killed the radio star, but builders are bringing it back. Fix Radio CEO Louis Timpany tells City A.M. how he built the UK’s fastest growing national broadcaster.