‘Czech Sphinx’ Royal Mail takeover signed off by government and unions December 16, 2024 The takeover of Royal Mail parent company International Distribution Services has been signed off by the government and unions, as EP Group is now set to officially gain control of the firm. The £3.6bn takeover by ‘the Czech Sphinx’, billionaire Daniel Kretinsky, was approved by shareholders in September, and was waiting on approval from the [...]
Vitabiotics: Turnover nears £200m at vitamins giant run by former Dragons’ Den star Tej Lalvani December 16, 2024 Sales at Vitabiotics, the vitamins giant run by former Dragons’ Den star Tej Lalvani, jumped towards the £200m mark during its latest financial year as its profits also increased. The London-headquartered business has reported sales of £196.4m for 2023, according to accounts filed with Companies House long after the 30 September deadline. The new total [...]
Walkers: Sales jump at Doritos, Monster Munch and Quavers owner December 16, 2024 Sales at the owner of the UK’s favourite crisps brands, Walkers, jumped by more than £60m during its latest financial year, it has been revealed. The Pepsi-owned business, which splits its UK accounts across three firms, has only just revealed its results for 2023, long after the 30 September deadline set by Companies House. Manufacturing [...]
Persimmon boss warns triple Budget hit will add billions for housebuilders December 16, 2024 Persimmon chief executive Dean Finch has warned that higher costs from new levies will add around £40m in annual costs and add “billions” in expenses across the housebuilding sector. He claimed that the taxes would hurt the government’s ambitious target of building 1.5m homes by 2029, telling The Times that there was a “disconnect” between [...]
Investor calls for Johnson Matthey to explore sale after shares slump December 16, 2024 Standard said it believed in the "unique value of JM," but warned a "massive credbility gap" had emerged with investors and the broader market.
Ageas to acquire part of Saga’s insurance business in 20-year deal December 16, 2024 Saga, the financial services and travel provider for over-50s, has begun a 20-year partnership for motor and home insurance with Belgian insurance giant Ageas. Ageas’ UK arm will take over Saga’s price-comparison website, pricing, claims and customer service activities, while Saga will hold onto brand and direct marketing. Under the terms of the deal, Saga [...]
‘Hammer blow’: Family firms call for inheritance tax consultation December 16, 2024 Family businesses are urging the government to consult on changes to inheritance tax (IHT), warning the move represents a “hammer blow” to the UK economy. Some 160,000 family-owned firms – represented by 32 trade associations – have written to Chancellor Rachel Reeves to request a formal consultation on IHT changes in the Budget. The letter, [...]
Canal+ IPO offers hope for troubled London Stock Exchange December 16, 2024 French media giant Canal+ will list on the London Stock Exchange this morning in an early Christmas present for a bourse battered by a string of exits this year.
Osborne Clarke: Nadhim Zahawi’s lawyer faces disciplinary hearing over SLAPP allegations December 16, 2024 Nadhim Zahawi's lawyer faces a disciplinary hearing this week over allegations he sent SLAPP letters to tax expert Dan Neidle
2025: The year ahead in tech December 16, 2024 2025 will be a defining year for businesses, marked by rapid technological shifts, political uncertainty, increased M&A, and intensifying competition. What else would a look ahead start with other than the much maligned AI? I have said on stage a lot this year I think AI is underhyped despite many saying the opposite. You have [...]