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Vauxhall owner Stellantis boss quits after Luton plant closure
Automotive
The resignation of Stellantis chief executive Carlos Tavares comes just days after the firm announced Luton closure and Ellesmere Port investment
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Nando's to open new restaurants across º£½ÇÊÓƵ after slashing loss
By City AM
The peri-peri chicken chain said it would open 14 sites in the current financial year, after it cut its pre-tax loss during the year to the end of February 2024
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South Western Railway's new £1bn train fleet finally launched after five-year delay
By City AM
The new fleet of trains, unveiled at an event in Waterloo Station, have been five years in the making due to a number of separate delays and disputes
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London Stock Exchange takeover frenzy tops £50bn with 45 firms in crosshairs
By City AM
The high level of takeover activity in London this year has fuelled fears over the health of the City's equity markets, as more than 45 companies have been in the crosshairs of buyout firms
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City broker Peel Hunt posts profit despite Budget hit to deals
By City AM
The London-listed investment bank posted a pre-tax profit of £1.2 million in the six months to October 31, up from a loss of £800,000 in the same period last year
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ABC Technologies secures £1bn deal to acquire TI Fluid Systems, expanding global footprint
By City AM
ABC has reached an agreement to acquire TI Fluid Systems for £1bn, four months after the British manufacturer turned down an approach from the Canadian rival
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Losses widen at luxury Shangri-La Hotel at The Shard - but bosses eye improvement
By City AM
The company behind the luxury Shangri-La Hotel at The Shard has reported a pre-tax loss of £7.3m for 2023, according to newly-filed accounts with Companies House
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Travelodge warns of £21m cost hike after Chancellor Rachel Reeves' Budget
By City AM
The budget hotel group said costs will increase by £21m in 2025 due to the combined impact of another minimum wage hike in April and a higher rate of employer national insurance
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Direct Line shares surge 42% after rejecting £3.3bn Aviva takeover offer
By City AM
The FTSE 250 insurer said the cash-and-stock offer from its larger rival was "highly opportunistic and substantially undervalued the company"
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Ford º£½ÇÊÓƵ calls for urgent government incentives to boost electric vehicle sales
By City AM
Ford º£½ÇÊÓƵ boss Lisa Brankin has said that the government needs to act fast on its proposed EV sales mandate and that incentives are "urgently" needed to avoid missing net zero targets.
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Just Eat announces delisting from London Stock Exchange
By City AM
The company cited the high costs, administrative burden, and complexity of the disclosure and regulatory requirements required to maintain a London listing. It also highlighted the low liquidity and trading volumes of its shares.
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Easyjet to more than double dividend after profit surge
By City AM
The airline, which has its base at Luton Airport, has enjoyed more resilience to troubles thanks to its holiday arm, which recorded a 56 per cent rise in pre-tax profit to £190m in the 12 months
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London holds on to crown as tech capital of the world as New York closes in
By City AM
The Z/Yen Smart Centres Index - which ranks 77 global commercial hubs on their ability to create, develop and deploy tech - showed London remained in first place
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Number of women in top positions on FTSE 250 boards falls
Women
Boardroom gender diversity is increasing but fewer females are reaching the most senior level
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BDO smashes through £1bn revenue mark after partner profit bounces back
By City AM
BDO said a "continued programme of investment" helped revenue rise by 8.6 per cent to £1.02bn in the year to 5 July, 2024.
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Anglo American agrees $3.8bn sale of remaining coal business
By City AM
Anglo American has agreed to sell its remaining coal portfolio to Peabody Energy for up to $3.8bn. The deal consists of an upfront cash payment of $2.1bn upfront as well as $725m deferred payment.
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Bristol, Birmingham and London City Airport up for sale
Transport
It is understood the Ontario Teachers’ Pension Plan is looking to offload its stake in the transport hubs
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Lord Alan Sugar's property firm recovers amid challenging market conditions
By City AM
The Apprentice star's company, Amshold, which holds his property investments, achieved a pre-tax profit of £932,000 for the 12 months to 30 June, 2024, according to Companies House filings
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Spreadex ordered to sell Sporting Index after CMA finds 'monopoly'
Retail & Consumer
The Competition and Markets Authority (CMA) has said Spreadex must sell Sporting Index after it concluded that the acquisition of the firm had "created a monopoly"
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Which water companies are in financial trouble – and which paid out bonuses?
Your Money
Water regulator Ofwat is clamping down on poorly performing firms
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Jake Humphrey and David Coulthard's Whisper Films returns to profit with a £4.3m boost as turnover surges
By City AM
Whisper Films, the TV production company co-founded by broadcaster Jake Humphrey and former Formula One driver David Coulthard, has returned to the black as turnover jumped
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Britvic reports robust financial growth ahead of Carlsberg acquisition, with a focus on healthier drink options
Retail & Consumer
A shift towards healthier drinking patterns has driven Britvic to new heights this year ahead of its acquisition by Carlsberg
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Inflation hits 2.3% in October, driven by higher energy bills and housing costs
The Budget
The rate of consumer price inflation (CPI) hit 2.3% in October, figures from the Office for National Statistics show
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Kwik Fit sales and profit accelerate as hundreds of jobs restored
By City AM
The Letchworth Garden City-headquartered business has posted a turnover of £633m for the 12 months to 31 March, 2024, according to newly-filed accounts with Companies House
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