UK financial watchdog suspends car finance compensation scheme

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The UK's Financial Conduct Authority's £9.1bn car finance compensation scheme, intended for motorists overcharged due to commission payments, has been partly suspended by a court order, delaying payouts until a hearing in December or February.

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French telecoms billionaire Xavier Niel has acquired a 16% stake in Vodafone for £4.4bn, becoming its largest shareholder. The stake was purchased from Emirati group e&, which sold its entire holding for 112.5p a share. Niel's investment vehicle, Vega, intends to be a long-term minority shareholder.

Guardian Business

Developing·4h ago

EasyJet Faces Competing Takeover Bids from Apollo and Castlelake

No-frills airline EasyJet has received a superior takeover proposal from US firm Apollo Management for £5.7bn, surpassing a previous agreement in principle with rival suitor Castlelake. Apollo's offer of £7.15 per share is higher than Castlelake's £6.90, with regulatory hurdles concerning EU ownership remaining.

BBC Business

Developing·4h ago

easyJet Board Considers £5.7bn Apollo Offer Amid Bidding War

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.

Guardian UK

Developing·5h ago

EasyJet Agrees to £5.7bn Takeover Bid from Apollo Management

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.

BBC Business

Business·6h ago

UK Music Tourism Hits Record High, Generating £11.2bn

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.

Guardian Business

Developing·6h ago

High Pay Centre Faces Closure, Signalling Shift in Social Research Funding

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.

Guardian Business

UK financial watchdog suspends car finance compensation scheme

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French billionaire Xavier Niel becomes Vodafone's largest shareholder

EasyJet Faces Competing Takeover Bids from Apollo and Castlelake

easyJet Board Considers £5.7bn Apollo Offer Amid Bidding War

EasyJet Agrees to £5.7bn Takeover Bid from Apollo Management

UK Music Tourism Hits Record High, Generating £11.2bn

High Pay Centre Faces Closure, Signalling Shift in Social Research Funding