Aviva has struck a definitive agreement to purchase Direct Line for £3.7 billion, creating one of the largest motor insurance providers in Britain. The FTSE 100 insurer will pay 275p per share for the FTSE 250-listed company, representing a 73.3 per cent premium to Direct Line’s share price before talks emerged in November. The acquisition, […]
The prospect of swift economic recovery remains elusive, Sir Keir Starmer warned on Monday, as official figures confirmed the UK economy stagnated in the third quarter. Downing Street stopped short of denying the possibility of further tax rises, fuelling concerns among businesses that the government’s package of fiscal measures might not be enough to steady […]
Article content ‘Twas the day before Christmas,And it’s time for Mawer,To reflect on the past year:2024. Investors kept pondering:When will the ball drop?Isn’t recession coming?Two years and no plop. Article content Most central banks eased rates,As Inflation had dwindled,Investors celebrated,Markets rekindled. But Japan was different,And made a small raise,A hike long considered,A move met with […]
Donald Trump has threatened European Union member states with punitive tariffs if they fail to purchase more American oil and gas, reviving the prospect of a renewed transatlantic trade war. On Friday, the president-elect declared on social media: “I told the European Union that they must make up their tremendous deficit with the United States […]
The UK economy is likely to see no growth in the aftermath of the Chancellor’s Budget, the Bank of England has warned, as businesses respond to record tax measures by increasing prices and reducing staffing levels. Policymakers now anticipate the economy will flatline in the final quarter of 2024, a notable downgrade from their previous […]
Sir Keir Starmer is set to appoint Lord Mandelson as the UK’s next ambassador to the United States, marking the first political appointment to the role in nearly half a century. The Prime Minister believes that Mandelson’s background in trade and extensive network of contacts will bolster Britain’s position in what promises to be a […]
Lenders in the motor finance market have been granted additional time to address a looming surge in complaints, as the City regulator moves to widen the scope of claims and include leasing agreements. The Financial Conduct Authority (FCA) has set a new deadline of December 4, 2025 for lenders to respond to customer grievances relating […]
UK car manufacturing fell sharply in November, plunging nearly a third compared to the same month last year and reaching its lowest November output since 1980. According to new figures from the Society of Motor Manufacturers and Traders (SMMT), just 64,216 cars rolled off production lines—27,711 fewer than in November 2023—marking the ninth consecutive monthly […]
Shoe Zone, the beleaguered UK footwear retailer, has pinned the blame for a fresh wave of store closures on cost pressures stemming from October’s budget measures. The Leicester-headquartered chain, which currently employs around 2,250 staff across 297 stores, said new financial burdens—especially higher national insurance contributions and an increased minimum wage—had pushed some outlets beyond […]
Honda and Nissan, two of Japan’s largest carmakers, are reportedly set to begin discussions on a potential merger as they grapple with fierce competition in the fast-evolving electric vehicle (EV) landscape Both companies released near-identical statements confirming that they are exploring ways to deepen collaboration and would update stakeholders in due course. While neither announced […]