Could new EU laws see Manchester City and Newcastle face a state aid complaint? August 15, 2023 A complaint to the European Commission against Paris Saint-Germain for allegedly receiving state aid and distorting the market has raised the prospect of Manchester City and Newcastle United being next in the firing line. Football is accustomed to firebrand Spanish chief Javier Tebas taking shots at Paris Saint-Germain but his latest challenge to the French [...]
Over-50s skills gap persists as unemployment increases August 15, 2023 Skills bootcamps schemes are failing to get over-50s back onto payrolls, despite ministers prioritising older Brits returning to the workforce. Labour accused the government of not helping enough over-55s to retrain and claimed older workers were “abandoned to the scrapheap”, making up just one in 20 reskilling trainees. Adults aged 55 to 67 make up [...]
Would CVC ever consider a London listing? August 15, 2023 Buyout giant CVC is reported to have revived its listing plans in recent weeks and is heading for a blockbuster float on Amsterdam’s Euronext bourse.
Wilko rumour mill: B&M shares up as takeover whispers gather volume August 15, 2023 Wilko has fallen into administration but rumours are flying that fellow discounters could be circling the stricken retailer
Why we might need to take inflation positivity with a grain of salt August 15, 2023 Temple Melville is forecasting dark skies for world economies as Russia squeezes vital exports, meaning crypto needs a defined role.
Russia hikes rates to 12 per cent as ruble plummets to lowest level since Ukraine invasion August 15, 2023 Russia’s central bank has raised its key interest rate by 3.5% in a move designed to fight inflation and strengthen the ruble after the country’s currency reached its lowest value since early in the war with Ukraine. The decision to hike the key rate to 12% was announced after an emergency meeting of the bank’s [...]
FTSE 100 close: Wage growth fuels rate fears as M&S soars and B&M drops on Wilko speculation August 15, 2023 London’s FTSE 100 ended Tuesday down more than 1.6 per cent, as record-breaking wage growth fueled speculation of a 15th straight Bank of England rate hike. The capital’s blue-chip index was down 1.63 per cent by close of play to to 7,384.94, weighed down by listed investment firm Abrdn, down three per cent, alongside Pheonix [...]
Interest rate hikes and unsettled markets rain on private equity’s dealmaking parade August 15, 2023 Private equity dealmaking has cooled in the first six months of the year as rapid interest rate hikes and unsettled markets rained on the parade of a predicted deal frenzy, new figures have revealed. The number of private equity deals in the UK fell to 689 from 909 last year, with just 327 deals worth [...]
Grocery price inflation drops sharply to 12.7 per cent August 15, 2023 Grocery price inflation saw its second sharpest fall since 2008, falling 2.2 percentage points to 12.7 per cent for the four weeks to 6 August, new data shows. While food prices are still rising, some goods actually became cheaper, with shoppers paying £1.50 for four pints of milk, down from £1.69 in March, and a [...]
UK banks handling interest rates better than US counterparts – but are lagging on AI August 15, 2023 UK financial services execs are coping better with the bleak market conditions compared to their US counterparts, according to a study by New York-listed Fidelity National Information Services (FIS). While 91 per cent of financial services company executives in the US have expressed that soaring interest rates have been hampering their investments, only 78 per [...]