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Financial
Janus Henderson Bolsters Private Credit Presence with Victory Park Capital Stake
In a move that underscores the growing investor appetite for private credit, Janus Henderson, the British-American asset management firm with approximately £361 billion in assets under management, has announced a deal to acquire a…
Just Group Expects to Surpass Profit Forecast Amid Booming Corporate Pension Deals
Just Group, a prominent UK life insurer, has announced that it anticipates "substantially exceeding" its full-year profit target following a significant increase in corporate pension deals. This news comes as the latest indication of the…
UK Wage Growth Slows to Two-Year Low as Unemployment Rate Declines
The UK's labour market has shown mixed signals, with wage growth hitting its lowest rate in nearly two years, while the unemployment rate unexpectedly fell, according to the latest data from the Office for National Statistics (ONS). In the…
UK Universities Face Financial Challenges Amid Calls for Cost-Cutting Measures
The UK university sector is grappling with mounting financial pressures, and Sir Philip Augar, the author of the 2018 Augar Review, has cautioned that institutions must take decisive action to trim costs and restructure if they hope to…
Taxpayer Funds at Risk as Jorginho-Backed Investment App Collapses
The taxpayer is set to lose a significant portion of its investment in Gather, a start-up backed by Arsenal footballer Jorginho, which recently entered administration. According to insolvency filings, the company behind the investment app…
Citi Follows Suit London Bankers Bonus Cap Scrapped
In a significant move, American banking giant Citi is poised to eliminate the bonus cap for its London-based investment bankers. This decision comes on the heels of the Conservative government's post-Brexit move last year, which saw the…
Hargreaves Lansdown Agrees to £5.4 Billion Takeover by Private Equity Consortium
In a significant development in the UK's financial sector, Hargreaves Lansdown, the country's largest DIY investment platform, has agreed to a £5.4 billion takeover by a consortium of private equity firms. The deal, which is expected to end…
Travel and leisure companies are affected by the slowdown in US consumer spending
As concerns about the economy grow, US consumers are cutting back on their travel and leisure spending, affecting businesses such as Disney theme parks and Hilton Hotels.
The warnings in this week's earnings reports of several companies…
H2O Asset Management will pay €250mn to investors after FCA finds “serious violations”
H2O Asset Management agreed to pay €250mn in compensation to investors, after the UK Financial Conduct Authority determined that it had committed "serious violations" with regard to illiquid investment.
H2O, once a leading star in the…
Retail brokers affected by outages in US stock market sell-off
Charles Schwab and Vanguard, as well as Fidelity, experienced outages in their trading platforms Monday, preventing some retail investors from being able to trade. This was during one of most severe market declines seen in recent years.…
Alpine floods hit Mercedes and Jaguar Production
Jaguar Land Rover is one of a number of luxury carmakers that have been severely affected by the flooding in Switzerland, which paralyzed a leading aluminium manufacturer.
After Novelis - an Indian manufacturer with a mill located in the…
Meta squelches fears of AI spending
Facebook and Instagram's owner beat Wall Street estimates for sales on Wednesday night, as it sought investors' concerns about the billions it spends on artificial intelligence.
Meta Platforms' revenue in the second quarter, which is the…
Spending watchdog: NHS finances in such a bad state that the whole service could collapse
Whitehall's watchdog on spending has warned that the NHS finances are in such a bad state that it could break down if it doesn't receive a huge cash injection.
The National Audit Office (NAO), which is a government agency, said that…
Britain is losing out because of the tourist tax
The boss of Longchamp, who called for the reinstatement of tax-free shopping in Britain, warned that Britain was losing out on tourists with high spending habits.
Jean Cassegrain said that the resurgence of tourism in London was "less…
Milan will benefit from the flight of wealthy UK citizens to Italian tax regime
London has always been a favourite among the rich and famous because of its well-connected financial center, which also offers a great deal in terms of culture.
The UK capital could be losing its favored position among ultra-rich…
Thames Water warns that money will be exhausted next May if no new funding is provided
Thames Water warned that the company only had enough money to cover its operations through to May next year. It is still looking for funding to ensure survival.
The largest water provider in the country said that, if it doesn't reach a…
Owners of humanised pets pay a lot to keep their animals alive
The Competition regulator said that pet owners who "humanise" their animals are paying more than necessary to keep them alive.
The Competition and Markets Authority said that some pet owners pay for expensive treatments which would have…
Alain Roux’s Michelin star restaurant is in the red
Alain Roux’s three Michelin star restaurant in Berkshire is now losing money due to rising wage pressures.
The Waterside Inn, Bray, posted a loss in 2023 of £181,000 compared to a profit of £814,000 the previous year. This was despite…