Next is planning "moderate" price increases this month as a closely-watched survey of companies reports the fastest rise in cost pressures for three-and-a-half years.
easyJet's board is now "minded to recommend" a £5.7bn all-cash offer from Apollo, valuing the airline at £7.15p per share. This follows a previous agreement in principle with Castlelake for a £5.5bn deal, which was later deemed undervalued.
No-frills airline EasyJet has accepted a £5.7bn takeover proposal from US firm Apollo Management, surpassing a previous bid from Castlelake. Apollo's offer of £7.15 per share is superior to Castlelake's £6.90, leading EasyJet to withdraw its recommendation for the earlier bid.
UK music tourism reached a record £11.2bn in spending last year, attracting 24.7 million fans, including a 27% surge in overseas visitors. Major artists like Oasis, Coldplay, and Beyoncé contributed to the boom, with London seeing a significant rise in tourism revenue.
The High Pay Centre (HPC), known for its analysis of executive pay and the pay gap, is set to close due to the termination of its funding by the Financial Fairness Trust, now renamed Aberdeen Group Charitable Trust. This closure highlights a broader trend of reduced funding for social justice research, influenced by a shift away from DEI/ESG initiatives.
The UK's Advertising Standards Agency (ASA) has warned consumers about misleading online adverts for portable air conditioners, often claiming unrealistic cooling speeds and performance. Many ads appear AI-generated and feature fake reviews, directing shoppers to sites selling devices for £70-£120.
Bank of England Chief Economist Huw Pill indicated that interest rates may need to rise this year to control inflation, which currently stands at 2.8%, above the 2% target. Pill noted that the economy's 'speed limit' is lower than before and highlighted productivity challenges in the UK, particularly in Wales.
