Mortgage approvals soared to their highest level in over two years during October, as buyers and sellers raced to finalise property transactions ahead of anticipated tax increases in Rachel Reeves’s first budget as Chancellor. Bank of England data reveals 68,300 mortgages were approved for house purchases last month, marking the highest figure since August 2022 […]

British defence giant BAE Systems witnessed a staggering £2 billion market value erosion as investors reacted to concerns over Elon Musk’s proposed government efficiency programme, which could potentially impact US military spending. The FTSE 100 defence contractor’s shares tumbled 4.9 per cent to £12.27 on Friday after Bank of America analysts downgraded the stock to […]

The billionaire Kamani family, the driving force behind fast-fashion retailer Boohoo, has demonstrated unwavering confidence in the company’s future by contributing £15.35 million to a broader £40 million fundraising initiative aimed at revitalising the struggling business. Mahmud Kamani, the company’s co-founder and second-largest shareholder, led the investment charge with £5.12 million, whilst his sister Rabia […]

British companies are putting their flotation and merger plans on hold amid growing market uncertainty following last month’s budget announcement, according to leading broker Peel Hunt. The company, which serves numerous small and medium-sized enterprises, has revealed a return to profitability in the half-year to September, yet warns of widespread deal postponements. The organisation’s chief […]

Shares in London-listed waste management specialist Renewi witnessed a dramatic surge of nearly 50 per cent following news that Australian asset management powerhouse Macquarie has launched a £700 million takeover bid. The cash offer, valued at 870p per share, represents a substantial 57 per cent premium to Renewi’s Wednesday closing price of 554p. The move […]

A significant shareholder rebellion has emerged against Fortress Investment Group’s proposed £338 million takeover of café-bar operator Loungers, despite the offer representing a 30% premium to the company’s previous share value. The US private equity firm, majority-owned by Abu Dhabi’s Mubadala, tabled an offer of 310p per share. The bid has met substantial resistance from […]

A significant development has emerged in the ongoing dispute between London-listed Resolute Mining and the Malian government, with the company agreeing to pay an additional $50 million as part of a comprehensive settlement package. The mining organisation, which operates the strategic Syama goldmine, has committed to fulfilling the complete $160 million settlement by year-end. This […]

The London Stock Exchange is poised to bid farewell to yet another significant player as TI Fluid Systems agrees to a £1 billion takeover by Canadian rival ABC Technologies. The FTSE 250 engineer’s board has thrown its weight behind the 200p-per-share acquisition offer, marking a substantial 47.3 per cent premium on its mid-September trading price. […]

The Bank of England has issued stark warnings about mounting risks to the UK’s financial system, citing concerns over potential trade wars, geopolitical instability, and rising government debt burdens. The UK’s position as an open economy with a substantial financial sector makes it particularly vulnerable to these emerging threats. Bank Governor Andrew Bailey emphasised the […]

More than 4.4 million British homeowners are bracing for significant increases in their mortgage payments over the next three years, according to a stark warning from the Bank of England. The impact will be particularly severe for an estimated 1 to 1.5 million borrowers who, having already experienced one rate increase, will need to refinance […]

The insurance sector witnessed a seismic shift today as Aviva launched a £3.3 billion takeover bid for rival Direct Line, sending shockwaves through the financial markets and sparking speculation of an imminent bidding war. Direct Line’s shares surged by an impressive 41.4 per cent, closing at 224½p, despite the company’s initial rejection of the offer. […]

British drivers continue to face inflated fuel costs due to “stubbornly high” margins, according to a recent report from the Competition and Markets Authority (CMA). The watchdog’s latest analysis reveals that fuel margins persist above historical levels, signalling ongoing concerns about weakened competition in the sector. Data from the CMA shows supermarket fuel margins climbed […]

Local authorities across Britain are poised to implement a standardised four-bin waste collection system, marking a significant shift in domestic recycling protocols. The initiative, spearheaded by Environment Secretary Steve Reed, aims to streamline the currently fragmented approach to household waste management. The revised programme mandates councils to provide residences with four distinct containers: one for […]

Britain’s historic railway privatisation experiment concluded on Thursday, marking the end of a contentious three-decade journey and initiating the complex task of renationalising an industry in crisis. The Labour government’s cornerstone “public ownership bill” received Royal Assent, paving the way for state takeovers to commence within months. The privatisation era, launched in 1994 with aspirations […]

The UK market witnessed an extraordinary surge in takeover activity on Thursday, with Macquarie launching a fresh £701 million bid for waste management group Renewi, marking the third approach for a London-listed company within 24 hours. Macquarie’s renewed interest in Renewi follows their previously rejected attempt last year. The Australian asset manager reached a preliminary […]

Christine Lagarde, the European Central Bank president, has called for European leaders to engage diplomatically with Donald Trump over tariffs by increasing purchases of US products, warning that an antagonistic trade war could devastate global economic growth. The ECB chief’s remarks, made in her first interview since Trump secured his second presidential term, emphasised the […]

In a significant development within the UK insurance sector, Aviva has taken the unprecedented step of directly approaching Direct Line shareholders, potentially setting the stage for a hostile takeover bid. The FTSE 100 insurance heavyweight initiated contact with Direct Line’s shareholders on Thursday, following the board’s dismissal of a £3.3bn takeover proposal. The outreach to […]

The UK Treasury’s multiyear spending review has been postponed until June 2025, marking a significant delay from the initially planned spring announcement. Chancellor Rachel Reeves’s decision extends the period of fiscal uncertainty for government departments across Whitehall. Sources close to the Treasury reveal the schedule shift comes as ministers grapple with complex funding priorities and […]

The French financial landscape is experiencing unprecedented turbulence as borrowing costs have surpassed those of Greece, raising serious concerns among international investors. The political paralysis gripping the nation, coupled with its precarious public finances, has created a perfect storm of economic uncertainty. Prime Minister Michel Barnier’s minority government faces a critical challenge in passing a […]

In a significant move that underscores the changing landscape of global financial markets, Just Eat Takeaway has announced its departure from the London Stock Exchange (LSE), opting to maintain its sole listing in Amsterdam where the company’s headquarters resides. The food delivery giant’s decision, driven by mounting administrative burdens and regulatory complexities, marks a concerning […]

Kingfisher, the parent company of B&Q and Screwfix, witnessed a dramatic 13 per cent decline in its shares after downgrading its full-year guidance and announcing an anticipated £31 million impact from increased employers’ national insurance contributions. The DIY retail giant has narrowed its annual pre-tax profit expectations to between £510 and £540 million, following disappointing […]

Britain’s largest pet retailer has witnessed its shares plummet more than 13 per cent after slashing its annual profit forecast amid mounting pressure from recent budget measures and dampened consumer spending on pet accessories. The FTSE 250-listed Pets at Home now anticipates only modest profit growth for the year, with analysts projecting annual pre-tax profits […]

The iconic Brighton i360 observation tower is teetering on the brink of closure as its operating company prepares to enter administration, weighed down by a staggering £51 million debt to the local council. Brighton i360 Ltd, which secured substantial funding from Brighton & Hove city council in 2014 for the development of the 450-foot viewing […]

Britain’s largest wealth manager, St James’s Place (SJP), has announced plans to liquidate £1.84 billion worth of commercial property funds, marking a significant retreat from the real estate sector amidst ongoing market difficulties. The company, which oversees investments for one million UK clients, will close three major funds: the Property Unit Trust (£789.4 million), the […]

A former senior executive at budget airline Wizz Air has been slapped with a £123,500 fine by the Financial Conduct Authority (FCA) for unauthorised trading of company shares valued at more than £4 million. Andras Sebok, who served as the airline’s chief supply chain officer, conducted 115 trades during restricted periods leading up to financial […]

Luxury car manufacturer Aston Martin Lagonda witnessed its shares plummet to a two-year low following an emergency fundraising announcement and its second profit warning within two months. The Midlands-based company revealed plans to raise £210 million through a combination of £110 million in new equity from shareholders and £100 million in debt, carrying interest rates […]

In a significant financial development, Nationwide Building Society has recorded an extraordinary £2.3 billion accounting gain from its Virgin Money UK acquisition, whilst simultaneously reporting a 24% decline in underlying interim profits. The UK’s largest mutual organisation, serving 16 million customers, attributes this substantial gain to the £2.8 billion purchase price for Virgin being notably […]

The global food industry stands at a critical juncture where waste reduction meets profit generation. During the recent Thanksgiving period, an estimated 143 million kilogrammes of food, valued at $556 million, was destined for disposal – highlighting a persistent challenge in our food systems. The statistics are sobering: up to one-fifth of global food production […]

Symbotic, the SoftBank-backed warehouse automation software provider, witnessed its shares plummet by more than a third on Wednesday amidst revelations of accounting errors and a downward revision of revenue forecasts. The Massachusetts-based company, which made its public debut via a SPAC in 2022, disclosed errors in revenue recognition for the first nine months of 2024. […]

British motor insurance provider Direct Line has firmly rejected a £3.3 billion takeover approach from industry heavyweight Aviva, describing the offer as “highly opportunistic” and significantly undervaluing the organisation’s worth. The proposed deal, which comprised 112.5 pence in cash and 0.282 new Aviva shares for each Direct Line share, equated to 250 pence per share. […]

French financial markets tumbled on Wednesday as mounting concerns over Prime Minister Michel Barnier’s government stability rattled investor confidence. The political turbulence stems from a contentious draft budget proposal featuring €60 billion in spending cuts and tax increases, which the government lacks the parliamentary majority to pass conventionally. The market reaction was swift and severe, […]

The Bank of England has indicated it is unlikely to publish interest rate forecasts from its monetary policy committee as part of its comprehensive operational overhaul. Clare Lombardelli, deputy governor, expressed concerns that such publications could potentially undermine the committee’s credibility. Speaking at a Monday briefing, Lombardelli emphasised the complexity of the issue, stating that […]

British retailers are bracing for inevitable price increases following the Chancellor’s recent budget announcement, with the sector facing a staggering £7 billion in additional costs next year. The British Retail Consortium (BRC) has issued a stark warning about the impending financial pressures on retailers. The combined impact of increased national insurance contributions, minimum wage adjustments, […]

British businesses are grappling with the harsh reality of Labour’s recent budget announcement, as company owners across various sectors reveal the significant impact of Rachel Reeves’s tax measures on their operations. The hospitality sector appears particularly vulnerable, with Owen Morgan, co-founder of 44 Restaurant Group, describing the budget as “anti-business” and “anti-growth”. His Spanish restaurant […]

  In this comprehensive investor report, we delve into the recent performance, strategic insights, and future outlook of the CQS New City High Yield Fund Limited. With a focus on high yield bonds and a robust management team, this report aims to provide valuable information for current and potential investors. Table of Contents Introduction and […]

The UK’s professional services sector has established itself as a crucial catalyst for economic growth in 2024, demonstrating remarkable resilience whilst other sectors face mounting challenges. Official data reveals the sector achieved a 0.7 per cent growth in the third quarter, making the largest contribution to overall economic expansion despite broader economic growth slowing to […]

The recent collaboration between BP and Transocean has drawn significant attention in the oil market, highlighting a growing constraint in the supply of deepwater oil rigs. BP’s decision to utilise Transocean’s state-of-the-art Deepwater Atlas for its Kaskida field in the Gulf of Mexico reflects both opportunity and challenge in offshore drilling. This marks a symbolic […]

Plymouth’s prestigious boat builder, Princess Yachts, has emerged from challenging financial waters with renewed optimism under fresh ownership. The British superyacht manufacturer, specialising in luxury vessels priced up to £12 million, is charting a course towards profitability after weathering significant losses in 2022. The company, operating from its historic base near Stonehouse Creek, produces approximately […]

The Institute for Fiscal Studies (IFS) has proposed a temporary inheritance tax holiday for farmers, addressing concerns over recent government changes to agricultural taxation. This recommendation comes in response to Chancellor Rachel Reeves’ controversial budget announcement that farmers with businesses valued above £1 million could face a 20% inheritance tax burden. The policy shift has […]

In a significant move towards addressing gambling-related harm, the British Labour government is preparing to implement a mandatory £100 million annual levy on gambling companies. The initiative, expected to be announced by gambling minister Baroness Twycross this week, marks a decisive shift away from the current voluntary contribution system. The statutory levy, scheduled to take […]

The messaging platform Telegram has disclosed to investors that its chief executive Pavel Durov’s detention by French authorities has not significantly impacted operations, whilst revealing substantial gains from cryptocurrency holdings that are increasingly supporting its financial foundation. Unaudited financial statements indicate Telegram’s digital assets surged to £1.3 billion in the first half of 2024, marking […]

Rachel Reeves, the Chancellor of the Exchequer, faced a challenging reception at the Confederation of British Industry (CBI) conference as she defended her recent £40bn tax increase whilst promising no further business tax rises. Speaking at London’s QEII centre, Reeves encountered sparse applause as she maintained her stance on the fiscal decisions made in last […]

The largest department store chain in America has postponed its quarterly financial report following the discovery that an employee concealed expenses totalling up to £154 million. Macy’s revealed on Monday that a staff member had deliberately entered incorrect accounting accruals for delivery expenses spanning from the fourth quarter of 2021 through to the third quarter […]

The world’s largest real estate investor, Blackstone, has deployed over half a billion euros into southern European hospitality assets during the past year, capitalising on the flourishing post-pandemic travel sector. The investment giant’s latest acquisition, the Grand Hyatt Athens, was secured for €235 million from Henderson Park and Hines. This strategic move brings Blackstone’s total […]

Paris-based artificial intelligence powerhouse Mistral is intensifying its presence in Silicon Valley, marking a strategic shift in its quest to compete with American tech giants for top-tier AI talent. The European firm, valued at €6 billion, is establishing a robust presence in Palo Alto, California, whilst considering the relocation of co-founder Guillaume Lample from its […]

Apple’s ambitious plans to implement artificial intelligence features on iPhones in China have encountered significant regulatory hurdles, with Beijing officials signalling a complex approval process ahead for foreign companies operating independently. Tim Cook’s third visit to China this year comes at a crucial time as the tech giant navigates the intricate regulatory landscape. The company’s […]

The organisation’s decision primarily affects ‘in-seat promotions’, where employees traditionally receive pay increases and enhanced titles without substantial changes to their roles or responsibilities. Unit heads have recently conducted team meetings to manage staff expectations, clarifying that promotions will largely be restricted to individuals taking on new roles or additional responsibilities. Even for those fortunate […]

Leading Wall Street institutions are betting on UK stocks to surpass their European counterparts, particularly as markets brace for the impact of US President-elect Donald Trump’s proposed trade tariffs. Investment powerhouses including Goldman Sachs, Société Générale, BlackRock, and JPMorgan Asset Management have positioned themselves bullishly towards British equities, citing several compelling factors. The FTSE 100 […]

A significant exodus of wealthy individuals is underway as non-domiciled residents prepare to leave the UK before April, responding to the recent Budget changes regarding inheritance tax rules. Tax specialists and legal experts report that numerous affluent individuals are hastening their departure from Britain in the coming months. The catalyst for this movement stems from […]

The British government is contemplating significant modifications to inheritance tax (IHT) regulations for farmers aged 80 and above, marking a potential shift in policy following intense protests in Westminster this week. The proposed changes could eliminate the requirement for elderly farmers to survive seven years after gifting their farm to avoid tax implications. Treasury officials […]

In a significant strategic shift, Reach plc, Britain’s largest commercial news publisher, has announced plans to merge staff across the Daily Mirror and OK! magazine. The restructuring initiative, revealed on Friday through an internal communication from Mirror’s editor-in-chief Caroline Waterston, marks a pivotal moment in the organisation’s cost-optimisation strategy. The consolidation aims to integrate teams […]

A significant retail theft operation targeting Lululemon stores across multiple US states has resulted in the arrest of a Minneapolis-St Paul couple, with stolen merchandise valued at nearly £800,000. Jadion Richards, 44, and Akwele Lawes-Richards, 45, were apprehended on 14 November following a sophisticated series of thefts from the premium athleisure retailer. The couple’s methodology […]

Recent findings from a comprehensive international study reveal a significant shift in workplace dynamics as employees actively resist mandatory return-to-office policies. The research, conducted by International Workspace Group (IWG), indicates that organisations mandating full-time office attendance are experiencing a notable surge in staff seeking alternative employment. The study, surveying 500 recruiters, highlights that two-thirds have […]

British retailers are steeling themselves for what industry experts predict will be a restrained festive trading period, with mounting concerns over household energy costs and housing expenses weighing heavily on consumer sentiment. The recent autumn budget has cast additional shadows over spending prospects. Trading activity has been notably subdued leading up to the American-inspired Black […]

Esquires Coffee, the suburban-focused chain, has unveiled ambitious plans to double its UK presence to 150 shops within three years, capitalising on the persistent work-from-home culture that has transformed British working habits. Chief Executive Aiden Keegan reports that the work-from-home phenomenon has been “fantastic” for the business, leading to increased customer dwell time and higher […]

In a significant financial development, PwC partners are confronting a substantial increase in their National Insurance contributions following Rachel Reeves’ recent budget announcement. The UK’s largest auditor will need to pay an additional £35,000 in employer’s National Insurance contributions for each of its 1,030 partners, resulting in a collective £36 million surge in tax obligations. […]

Britain’s labour market statistics are facing unprecedented scrutiny as the Office for National Statistics (ONS) grapples with significant data collection challenges, potentially masking the true state of employment in the UK economy. Bank of England Governor Andrew Bailey expressed frustration last week over the inability to obtain accurate employment figures, casting doubt on the official […]

The world’s largest café chain, Starbucks, has dramatically reduced its hedging against coffee price fluctuations amid soaring bean prices, potentially exposing itself to significant market volatility. The company’s fixed-price contracts for unroasted coffee plummeted to less than $200 million by September’s fiscal year-end, a stark decline from $1 billion in 2019. This reduction coincides with […]

Cinema attendance has received a significant boost as ‘Wicked’ and ‘Gladiator II’ collectively generated £385 million in worldwide box office receipts over the weekend, indicating promising prospects for the holiday season. The forthcoming release of Disney’s ‘Moana 2’ on Wednesday, ahead of the US Thanksgiving holiday, is poised to maintain this positive momentum. Box office […]

Leading UK wealth managers have issued stark warnings to Chancellor Rachel Reeves regarding her proposed plan to subject pensions to inheritance tax, describing it as a measure that could severely damage the nation’s retirement savings framework. AJ Bell’s chief executive, Michael Summersgill, has penned a critical letter to the Chancellor, emphasising that the Budget proposal […]

Major American retailers are transforming the traditional single-day Black Friday shopping event into a weeks-long sales extravaganza as they grapple with signs of diminishing consumer spending power. The strategic shift comes as retail data indicates a concerning downturn in consumer activity, despite the approaching holiday season. Industry giants including Walmart, Amazon, Target, and Macy’s have […]

In a significant strategic shift, KFC has withdrawn its commitment to source chickens from slower-growing breeds in the UK by 2026, citing critical supply chain limitations. The decision marks a substantial reversal of the company’s 2019 pledge to comply with the Better Chicken Commitment, raising concerns among animal welfare advocates and industry observers. The fast-food […]

British households are bracing for renewed financial pressures as economists forecast inflation could reach 3% by 2025, despite Labour’s claims of economic stabilisation. The current rate of 2.3% marks a significant improvement from the post-Ukraine invasion peak of 10%, yet mounting evidence suggests consumers will face fresh challenges in the coming months. Energy costs remain […]

British retailers and wholesalers have been compelled to pivot their orange sourcing strategy to South Africa and South America following devastating floods in eastern Spain that have severely impacted local harvests and distribution networks. The catastrophic weather events have inflicted damages exceeding €1 billion on Valencia’s agricultural sector, according to Spain’s largest farming association, Asaja. […]

The private sector in Great Britain has experienced its first contraction in 12 months, with businesses pointing directly to tax increases announced in Labour’s inaugural budget. The downturn, coupled with declining retail sales, signals mounting economic pressures across the nation. S&P Global Market Intelligence’s latest survey reveals the purchasing managers’ index dropped from 51.8 to […]

Life insurance providers have been instructed by the Financial Conduct Authority (FCA) to accelerate their bereavement claims processing after discovering major providers were taking up to four months to settle payments. The regulatory review, examining 15 insurers representing over 75% of the life protection market, revealed processing times ranging from 53 to 122 days for […]

In a significant blow to technology investors, Scottish Mortgage Investment Trust has suffered an apparent £315 million loss following the collapse of Swedish car battery manufacturer Northvolt. The devastating development emerged as Northvolt’s chief executive, Peter Carlsson, stepped down amid the company’s bankruptcy filing in the United States. The FTSE 100-listed Scottish Mortgage, widely favoured […]

A significant shake-up in European aviation infrastructure is underway as Ontario Teachers’ Pension Plan (OTPP) initiates the sale of its substantial airport portfolio, potentially valued at more than £10 billion. The Canadian pension fund giant is currently engaged in discussions with minority shareholders who possess a 30-day right of first refusal on its holdings across […]

The future of urban air mobility is rapidly approaching, with California-based Joby Aviation emerging as the frontrunner in the race to bring electric vertical take-off and landing (eVTOL) vehicles to our skies. The company, valued at £4.2 billion on the New York Stock Exchange, has spent 15 years developing its revolutionary aircraft technology. Operating from […]

More than 80 prominent business leaders have intensified their campaign for immediate reform of the antiquated business rates system, warning the Treasury that swift action is essential to preserve Britain’s struggling high streets. The current system, which traces its origins to the Poor Laws of 1601, is facing mounting criticism from retail and hospitality sectors, […]

British households are bracing for another increase in their energy bills as Ofgem announces a 1 per cent rise in the price cap, pushing typical annual costs up by £21 to £1,738 from January 2025. The regulatory adjustment, marking the second consecutive increase this winter, reflects mounting pressures in wholesale gas markets amid escalating global […]

The Gulf state of Bahrain is making strategic moves to establish itself as the primary gateway for British businesses seeking opportunities in the Gulf Cooperation Council (GCC) region. With a £1 billion investment commitment to Britain and plans for additional funding, Bahrain is targeting partnerships in green technologies, advanced manufacturing, and financial services sectors. Unlike […]

The British government’s exit from NatWest has gained momentum as its ownership stake diminishes to just under 11 per cent of the FTSE 100 bank. The reduction comes through a methodical trading plan designed to gradually release shares into the market. The latest share reduction follows a significant £1 billion buyback deal with NatWest merely […]

In a significant property deal, THG co-founder Matt Moulding has successfully completed the sale of his Manchester airport business park for £180 million to RN3 Partners. The transaction marks the largest warehouse deal outside London this year. The Icon business park, which has served as THG’s headquarters since its opening three years ago, was owned […]

Spanish authorities have levied substantial fines against several budget airlines, with Ryanair bearing the brunt of a €108 million penalty for what officials deemed ‘abusive’ charging practices. The Dublin-based carrier leads a group of five low-cost airlines hit with combined penalties totalling €179 million. The Spanish consumer rights ministry’s crackdown targets controversial practices including charges […]

The American economy has achieved its highest output level in 31 months following Donald Trump’s election victory, driven by his promises of tax reductions, tariffs, and deregulation. The composite purchasing managers’ index (PMI) for the US rose to 55.3 from 54.1, substantially outperforming other G7 nations, with the UK, France, and Germany showing concerning signs […]

In a significant move that underscores the intensifying artificial intelligence race, Amazon has injected an additional £4 billion into AI start-up Anthropic, elevating its total investment to £8 billion. The strategic partnership positions Amazon Web Services (AWS) as the primary computing power provider for Anthropic’s language model training. The deal maintains Amazon’s minority investor status […]

The ambitious $1.5 trillion Neom project in Saudi Arabia has encountered a significant setback with the dismissal of its chief executive, Nadhmi al-Nasr, following a disappointing launch of the Sindalah resort last month. Crown Prince Mohammed bin Salman’s reaction to the underwhelming opening of Sindalah, an ultra-luxury island destination designed to attract wealthy yacht owners, […]

Fresh economic data reveals the UK economy has ground to a halt amidst growing concerns over tax increases announced in Rachel Reeves’s recent budget. The private sector witnessed activity plummet to its lowest point in 13 months during November, with businesses scaling back both recruitment and capital investment. The substantial £25 billion tax increase, particularly […]

Major disruptions across the United Kingdom’s transport infrastructure have sparked significant economic concerns as Storm Bert unleashes its devastating combination of heavy snowfall, torrential rain, and winds reaching 70mph. The financial implications are mounting as critical transport arteries face closure. The Severn Bridge, a vital economic corridor between England and Wales, has been completely sealed […]

In a significant move that signals further expansion into the digital asset space, Donald Trump’s media enterprise is approaching the final stages of negotiations to acquire cryptocurrency trading platform Bakkt from Intercontinental Exchange (ICE). The proposed all-share transaction by Trump Media and Technology Group (TMTG), which operates Truth Social, comes at a time when the […]

US software provider turned bitcoin investor MicroStrategy has expanded its cryptocurrency fundraising efforts to more than £7bn since the recent US election, capitalising on bitcoin’s record-breaking price surge. The company announced on Wednesday it had increased its convertible bond offering from £1.75bn to £2.6bn, leveraging the heightened enthusiasm in digital assets following Donald Trump’s presidential […]

The British government is contemplating significant modifications to inheritance tax rules for farmers aged 80 and above, marking a potential retreat from controversial reforms announced in October. This development emerges following substantial protests in Westminster and mounting pressure from the agricultural sector. The Treasury’s assessment focuses on altering gifting regulations for octogenarian farmers, enabling them […]

London-based hotel pricing software company Lighthouse has achieved unicorn status following a substantial £293 million investment from American private equity giant KKR, marking a significant milestone in the British tech sector. The company, established by Belgian entrepreneurs Matthias Geeroms and Gino Engels in 2012, has evolved into a crucial technology partner for 70,000 hotels and […]

British sportswear giant JD Sports Fashion has seen its shares tumble after warning that annual profits will likely hit the lower end of guidance, following a significant sales decline attributed to subdued consumer demand and unfavourable weather conditions. The Manchester-based retailer now projects its annual adjusted pre-tax profit to reach the bottom of its £955 […]

The cryptocurrency market witnessed a historic milestone as Bitcoin surged beyond $94,000, marking an unprecedented rally fuelled by Donald Trump’s recent election victory. The digital currency’s value has rocketed nearly 40 per cent since the presidential outcome, reflecting growing investor confidence in a crypto-friendly regulatory landscape under Trump’s second administration. The remarkable transformation of Trump […]

Ford Motor Company has announced plans to cut 800 jobs across its UK operations, representing 15 per cent of its remaining 5,100-strong British workforce. The move comes merely 18 months after the American automotive giant reduced its UK staff by 1,300 positions. The latest redundancies form part of a broader European restructuring programme that will […]

British model train and hobby specialist Hornby has reported deepening losses in its half-year results, despite implementing significant restructuring efforts and experiencing revenue growth. The company’s shares tumbled 15.4 per cent to 22p after revealing a pre-tax loss of £5.1 million for the six months ending 30 September, compared to a £4.9 million loss in […]

Britain’s car finance industry faces unprecedented turmoil following a landmark Court of Appeal ruling that could trigger massive compensation payouts to consumers. The Financial Conduct Authority’s chief executive, Nikhil Rathi, has indicated the potential for widespread claims after the court determined that undisclosed commissions paid to car dealers were unlawful. The ruling, which encompasses all […]

The world’s most valuable chipmaker, Nvidia, has reported spectacular quarterly results, with sales soaring 94% year-on-year to $35.1 billion, surpassing market expectations of $33.2 billion. The company’s net profit demonstrated remarkable growth, climbing 109% to reach $19.3 billion, significantly exceeding analysts’ forecasts of $17.4 billion. Despite these impressive figures, Nvidia’s shares experienced a 2.3% decline […]

British energy giant BP and its partners have approved a substantial £7 billion gas project in Indonesia, marking a significant expansion of their liquefied natural gas (LNG) operations in the Asia-Pacific region. The investment demonstrates the continued focus of major energy companies on meeting growing gas demands across Asia. The development represents an expansion of […]

The Serious Fraud Office (SFO) has initiated a significant investigation into defence company Thales regarding allegations of bribery and corruption. The probe, announced on Thursday, marks a collaborative effort between the UK agency and France’s Parquet National Financier (PNF). The French-listed company, which maintains substantial operations in the UK with over 7,000 employees across 16 […]

Swedish battery manufacturer Northvolt has filed for Chapter 11 bankruptcy protection in the United States, marking a significant setback for European ambitions to challenge Asian dominance in the electric vehicle battery sector. The company, which had secured more than £15 billion in investments from prominent backers including Volkswagen, Goldman Sachs, and BlackRock, has encountered substantial […]

More than £20 billion in market value vanished from Gautam Adani’s corporate empire after US corruption charges rattled one of India’s wealthiest businessmen, causing shares across his vast business portfolio to tumble dramatically. The flagship Adani Enterprises witnessed its shares plunge by over 20% on Thursday, hemorrhaging nearly £9 billion following US prosecutors’ allegations of […]

Uganda’s contentious £4 billion heated oil pipeline project remains on track for a 2027 operational launch, despite facing significant delays attributed to environmental activism and financing challenges, according to the country’s energy minister Ruth Nankabirwa. Speaking at the COP29 climate summit in Baku, Azerbaijan, Nankabirwa emphasised the project’s viability, stating that substantial investments have already […]

Britain’s housing minister has cast doubt on the government’s ambitious target of constructing 1.5 million new homes, citing a deeper than anticipated supply downturn in the housing sector. Matthew Pennycook, addressing MPs at the House of Commons housing committee, revealed the stark reality of the “difficult inheritance” from the previous Conservative administration. The minister’s candid […]

Shares in Elf Beauty experienced a significant decline after renowned short seller Muddy Waters revealed its bearish position against the US cosmetics manufacturer. The Oakland-based company’s stock plunged 15 per cent to $103, reducing its market capitalisation to £6 billion. The dramatic share price movement came after Muddy Waters’ chief investment officer Carson Block disclosed […]

French far-right leader Marine Le Pen has issued a stark warning to Prime Minister Michel Barnier’s government, threatening to initiate its collapse over contentious budget proposals. The National Rally leader’s ultimatum centres on proposed tax increases affecting essential items including electricity, medicines, and healthcare services. Speaking to RTL radio, Le Pen emphasised that protecting French […]

The British government appears poised to reject appeals from electric vehicle manufacturers seeking relief from hefty fines linked to missed sales targets through 2026. This stance comes amid warnings from the automotive sector about potentially devastating impacts on UK car production and investments. Transport Secretary Louise Haigh and Business Secretary Jonathan Reynolds conducted a significant […]

The United Kingdom’s defence sector is set to undergo significant restructuring as Defence Secretary John Healey announces plans to retire ageing military assets, targeting £500 million in savings over the next five years. The comprehensive cuts include the retirement of HMS Northumberland, a Type 23 frigate previously scheduled for refitting. The vessel will now leave […]