LONDON: Britain’s labor market showed signs of weakening ahead of this month’s increase in a tax on employers, data released Tuesday showed. However, strong wage growth persisted, complicating the Bank of England’s efforts to curb inflation. Financial markets indicate a 90% chance of a quarter-point interest rate cut when policymakers meet in early May, followed by…
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HSBC Holdings restructured into four separate businesses
LONDON: HSBC Holdings plc is simplifying its organisational structure into four businesses to accelerate delivery against its strategic priorities. HSBC Group Chief Executive Officer, Georges Elhedery, commented: “The changes that we are announcing today will make it easier for our colleagues to serve our customers and drive the future success of the Group. The new…
Rebecca Shelley appointed Chair of Sabre Insurance Group
LONDON: Sabre Insurance Group, one of the UK’s leading private motor insurance underwriters announce that Rebecca Shelley, who joined the Board as a Non-executive Director in December 2017, has been appointed as Chair of the Company. This is following an external search process and the receipt of regulatory approval from the PRA. The appointment takes…
Assurant Inc. acquires iSmash, UK’s leading tech repair brand
LONDON: Assurant Inc. (NYSE: AIZ), a leading global provider of lifestyle and housing solutions today announced the acquisition of iSmash, the UK’s leading independent tech repair brand, offering express drop-in repair services for smartphones, tablets and laptops. Founded in 2013, iSmash has grown to 38 convenient retail locations with 152 employees across the UK. The…
DEAG Deutsche Entertainment acquires majority stakes in UK’s ShowPlanr
BERLIN/LONDON: DEAG Deutsche Entertainment Aktiengesellschaft (DEAG) is accelerating its international expansion course and further strengthening its strong market position in the UK. DEAG is acquiring a majority stake in the UK promoter and live event organiser ShowPlanr through its UK subsidiary Flying Music. The UK is one of DEAG’s important core markets. For DEAG, the…
Tide, UK’s top business financial platform, launching in Germany
Tide, the United Kingdom’s premier business financial platform, has announced its launch in Germany. This expansion marks Tide’s second international venture, hot on the heels of its successful foray into the Indian market last year. Tide has carved a niche in the UK by offering a suite of highly integrated finance and administrative solutions tailored…
Papa Johns to shut 50 UK outlets amid performance review
Papa Johns, the US-based pizza chain, has announced plans to close about 50 of its UK takeaways as part of a comprehensive review of its performance in the country. The group, which has more than 450 restaurants across the UK, said the move would allow it to invest in the right locations with the right…
Ageas considers £3.1 billion bid for Direct Line Insurance Group
LONDON: Ageas, the Belgian insurer, has confirmed that it is in the preliminary stages of considering a possible offer to acquire Direct Line Insurance, the UK’s largest personal lines insurer, for £3.1 billion. The possible offer would consist of 100 pence in cash and one new Ageas share for every 25.24047 Direct Line shares, valuing…
CrowdStrike and Ignition Technology join forces to boost UK cybersecurity
CrowdStrike, a leading cybersecurity company, has partnered with Ignition Technology, a specialist SaaS cybersecurity distributor, to expand its presence in the UK market. The partnership will enable Ignition Technology to offer the AI-native CrowdStrike XDR Falcon platform, which can stop cyberattacks, to its network of solution providers and customers. Ignition Technology will also leverage its…
TRIG acquires Bristol-based energy developer Fig Power
LONDON: TRIG, a leading renewable energy investment company, has announced the acquisition of Fig Power, an energy projects developer specialising in battery storage. The deal is worth c. £20m over the next two years, with half of the amount paid upfront and the rest invested in ongoing development. Fig Power has a 1.7GW development pipeline…
Barratt Developments and Redrow Plc agree to merge in £2.5 billion deal
LONDON, UK: Barratt Developments, the UK’s largest homebuilder, has announced that it will acquire its rival Redrow Plc in a £2.5 billion deal that will create a market leader in quality, service and sustainability. The boards of both companies have agreed to the terms of the all-share offer, which will see each Redrow Plc shareholder…
UK Cracks Down on Overseas Student Visas
The UK government announced a new immigration policy on Tuesday that will make it more difficult for overseas students to bring their family members to the UK. The new policy, which will go into effect on July 1, 2023, will only allow international students on postgraduate courses currently designated as research programmes to bring in…