FTSE 100 warehouse landlord Segro capitulated to a £14bn takeover offer from US giant Prologis, despite CEO David Sleath's fight for independence. The deal, valued at £10.32 a share, is seen as a blow to the London stock market's diversity and a sign of its vulnerability to overseas firms.
The Bank of England has eased its proposed stablecoin regime, removing individual holding caps and relaxing reserve requirements. A £40 billion issuance limit is introduced, with up to 70% reserves allowed in short-term UK government debt. These changes aim to foster innovation and competitiveness in the UK's sterling-backed stablecoin market.
The UAE Ministry of Finance has launched the country's first Sovereign Retail T-Sukuk programme, allowing residents and citizens to invest in Shariah-compliant government Islamic Treasury Sukuk with a minimum of Dh1,000. This initiative aims to encourage saving, broaden financial inclusion, and deepen local capital markets.
Indian textile exporters anticipate doubling their UK market share within 3-5 years due to the India-UK trade deal offering zero duty access from July 15. Trade is projected to rise from $1.9 billion to $3 billion.
The UK's Competition and Markets Authority (CMA) has approved Associated British Foods' (ABF) £75m acquisition of Hovis. The CMA concluded the deal poses no competition concerns, as Allied Bakeries (AB), ABF's bakery arm, would likely exit the UK market if the takeover failed.
Italian brand Mutti is set to become the UK's largest non-supermarket tinned tomato brand, challenging Napolina with a focus on taste and a £6m marketing campaign. Despite the cost of living crisis, sales have risen, driven by a shift towards home cooking and quality ingredients.
Cricket Australia negotiates with Amazon and Dazn for a 4-year UK rights deal covering Ashes tours, the 150th anniversary Test, and other matches, aiming to secure a long-term contract after past short-term agreements.
Reviews website features pages praising unlicensed sites’ supposed qualities as if they were legitimate businessesTrustpilot, the reviews website that offers to “find a company you can trust”, is hosting ratings of illegal casinos, raising concerns in Westminster about the potential risks posed to consumers.Unlicensed casino operators linked to financial harm, addiction and even suicide have flooded the UK market in recent years, often targeting people who are trying to limit their gambling by “self-excluding” from licensed operators. Continue reading...
