Asda cuts jobs and demands three-days-a-week return to office November 6, 2024 Asda has announced job cuts and asked its staff to return to the office three days a week in the latest move in its turnaround plan. In an internal email on 5 November, the grocer said it was changing its office attendance policy at its George House site in Leicester as well as its Asda [...]
Analysis: What does Trump’s victory mean for the UK? November 6, 2024 Donald Trump’s political resurgence poses important questions for the UK and the wider world. After securing the requisite 270 electoral college votes, Trump is on course to return to the White House as the 47th President of the United States, in January. And from his dealings with global leaders, the UK-US special relationship, to military [...]
FCA approves £10m acquisition of Musicmagpie by AO World November 6, 2024 The UK’s financial watchdog has approved the acquisition of Musicmagpie by AO World for £10m. First announced in October, the deal will see the electrical retailer acquire Musicmagpie for 9.1p per share, a fraction of its market capitalisation at IPO in 2021. It floated with a share price of 193p. Bolton-headquartered AO sells white goods [...]
Lancashire Holdings shares surge to the top of the FTSE 250 after special dividend announced November 6, 2024 Lloyd’s of London insurer Lancashire Holdings has announced another special dividend in its results for the three months to 30 September. Shares in the company jumped 9.2 per cent in early deals to the top of the FTSE 250 after the results were published. The company reported a nine per cent jump in gross written [...]
Wise: Fintech’s shares pop as swelling customer base boosts profit November 6, 2024 Wise has posted a surge in profit as the money transfer fintech benefited from a swelling customer base and made investments to reduce prices.
Prudential: FTSE 100 insurer posts profit growth in key Asian markets November 6, 2024 FTSE 100 insurer Prudential posted a jump in new business profit for the first nine months of its year today after registering “broad based growth” across its global markets. In a third-quarter trading update today, the Asia-focused insurer said it had notched £2.35bn in new business profit across its global markets, an 11 per cent rise on [...]
Lloyd’s of London insurer Beazley records further growth despite Helene and Milton November 6, 2024 Lloyd’s of London insurer Beazley has recorded further growth in its insurance book and is on track to hit its profit target for the year despite hurricanes Helene and Milton. In a trading update for the nine months ended 30 September 2024, the company reported insurance written premium growth of seven per cent to $4.6bn [...]
Investment can boost growth – if it comes with technological progress November 6, 2024 Economic theory does regard capital investment as a contributor to economic growth, but there is another essential factor: technical progress, says Paul Ormerod The need to boost the UK’s rate of economic growth was a central theme of the first budget delivered by Rachel Reeves, the Chancellor. Reeves emphasised the importance of increasing the amount [...]
Six Nations investors CVC Capital Partners have offices raided November 5, 2024 CVC Capital Partners, whose sport investments include the Six Nations and Premiership Rugby, has reportedly had its offices raided alongside the French football league in Paris. Police searched the office of the private equity firm and the football body on Tuesday as part of a potential corruption investigation, according to reports. Prosecutors are said to [...]
Watch the US election all night long at these five London bars November 5, 2024 It’s the most stressful a US election has felt in London in a long time, as Trump looms over a potential second term in office. City traders are holding off on betting on the dollar while one senior UK politician told City AM we must unite behind the outcome whichever way it swings. But until [...]