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M&S: City broker slashes share price target on lower profit prospects

  • January 9, 2025
Berenberg has downgraded its share price target for Marks and Spencer following lower estimates of long-term growth for the high street darling. The broker downgraded its price target from 410p to 384p, a cut of six per cent, due to a decrease in its profit estimate. “The potential for upside surprise now looks more limited [...]
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Cum-ex: FCA fines broker over trading violations

  • January 9, 2025
The Financial Conduct Authority (FCA) has fined broker Arian Financial £288,962 over cum-ex trading violations, after it failed to ensure it had effective systems and controls against financial crime. Cum-ex trading, also known as dividend stripping, is a method of tax avoidance that allows firms to distribute profit as capital gains rather than dividends, allowing [...]
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The runners and riders to replace under-fire City minister Tulip Siddiq

  • January 9, 2025
Downing Street is reportedly weighing up a number of potential candidates to replace Tulip Siddiq as her position as City minister comes under increasing pressure. Siddiq, the niece of ousted Bangladeshi leader Sheikh Hasina, has been in the headlines since last month when she was named in an investigation into whether her Bangladeshi family embezzled [...]
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Another private takeover: Alliance Pharma offered £350m

  • January 9, 2025
The London Stock Exchange is facing yet another private takeover, with Alliance Pharma offered £349.7m in an all-cash deal. The AIM-listed firm, which sells over-the-counter drugs in over 100 countries, has seen its board recommend the takeover unanimously by asset manager DBAY Advisors and Edmond de Rothschild’s ERES IV fund. The group’s stock price jumped [...]
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M&S, Greggs and Sainsbury’s shares slide on shaky outlook for UK economy

  • January 9, 2025
Marks & Spencer (M&S), Greggs, Sainsbury’s and B&M shares have all slumped today after investors took fright at warnings of a slowdown in consumer spending over the next year. Aside from Sainbury’s, whose results will be announced on Friday morning, all the firms released solid earnings updates this morning, with M&S reporting an 8.7 per [...]
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St James’s Place: Impax slumps following mandate losses

  • January 9, 2025
Impax’s stock price has sunk even further after revealing the damage that the loss of fund management mandates from St James’s Place has done to its business. Assets under management at the environmental-focused money manager fell eight per cent over the quarter, the firm revealed in a trading update on Thursday. After falling by more [...]
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UK nightclubs are ‘more concerned now than during the pandemic’

  • January 9, 2025
The UK’s nightclub sector has been hit with an alarming decline in activity as it continues to battle “unsustainable” cost pressures following the Autumn Budget’s tax hikes. Fresh figures from the Night Time Industries Association (NTIA) have today revealed there has been a 32.7 per cent decline in activity since 2020 amid what is seen [...]
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