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☆ UK lenders seek more data as consumers squeezed, Experian says
▼ + stars: | 2022-11-16 | by ( Pushkala Aripaka | ) www.reuters.com time to read: +2 min

Experian's key customers include banks, non-traditional lenders and insurance providers, which use its credit reports and scores to analyse and make decisions around credit risk, fraud prevention and lending terms. Data on Wednesday showed British inflation hit a 41-year high in October, while figures last month showed lending to British consumers rose in September by less than expected, suggesting lenders and borrowers are becoming more cautious. Experian retained its annual outlook, despite flagging tougher economic conditions ahead, sending its shares up about 2% by 0915 GMT. The company's total benchmark operating profit rose 8% to $873 million for the six months ended Sept. 30. Reporting by Pushkala Aripaka and Sinchita Mitra in Bengaluru; Editing by Sherry Jacob-Phillips and Mark PotterOur Standards: The Thomson Reuters Trust Principles.

☆ Experian posts stronger profit, flags changing lender behaviour in UK
▼ + stars: | 2022-11-16 | by ( ) www.reuters.com time to read: 1 min

Nov 16 (Reuters) - Experian (EXPN.L) posted a higher first-half profit on Wednesday as the world's largest credit data firm was boosted by steady demand for borrowing across its markets amid a cost-of-living crunch in the UK. The London-listed company said volatility in Britain's economic policy led to some changes in its clients' behaviour, with lenders generally focusing more on risk-based analysis and tweaking their criteria for new customer acquisition. (This story has been corrected that say that Experian is the world's largest credit data firm, not credit card firm in first paragraph)Reporting by Pushkala Aripaka and Sinchita Mitra in Bengaluru; Editing by Sherry Jacob-PhillipsOur Standards: The Thomson Reuters Trust Principles.

☆ France's Schneider Electric raises Aveva buyout offer to $11.6 bln
▼ + stars: | 2022-11-11 | by ( ) www.reuters.com time to read: 1 min

Nov 11 (Reuters) - French industrial group Schneider Electric (SCHN.PA) has increased its offer for Aveva (AVV.L) to 3,225 pence per share, valuing the British software company at about 9.86 billion pounds ($11.62 billion), Aveva said on Friday. Schneider, which already owns a majority stake in the London-listed firm, in September offered to fully take over Aveva for 3,100 pence per share. Several Aveva investors had threatened to reject the previous offer, including top-five investor Davidson Kempner. The hedge fund said on Thursday the Schneider bid was "highly opportunistic" and it did not take into account Aveva's long-term potential. ($1 = 0.8485 pounds)Reporting by Yadarisa Shabong and Sinchita Mitra in Bengaluru; Editing by Devika SyamnathOur Standards: The Thomson Reuters Trust Principles.

☆ Lender PCF to withdraw from UK market after rescue fails
▼ + stars: | 2022-11-09 | by ( Sinchita Mitra | ) www.reuters.com time to read: +2 min

Shares in PCF fell by around 62% to 0.4 pence in early trade following the news on Wednesday, six weeks after Castle Trust Capital withdrew its intention to make an offer for PCF. "This has been a very difficult strategic decision for the board to make given the consequences for the business, colleagues, customers, intermediaries and shareholders," Chief Executive of PCF Bank, Garry Stran, said in a statement. To cancel the AIM listing, it must consult investors. PCF, which has a market value just under 4 million pounds ($4.6 million), said it will continue to explore strategic transactions with interested third parties and it retained the support of Somers Limited, its biggest shareholder with a 73.24% stake. Reporting by Sinchita Mitra in Bengaluru; editing by Uttaresh.V and Sinead Cruise and Barbara LewisOur Standards: The Thomson Reuters Trust Principles.

Nov 8 (Reuters) - North Sea oil and gas producer Ithaca Energy's (IPO-IHEG.L) planned initial public offering (IPO) in London is set to be priced at the bottom of the range at 250 pence per share, a bookrunner on the deal said on Tuesday. The planned IPO of Ithaca - owned by Tel Aviv-listed Delek Group (DLEKG.TA) - on the London Stock Exchange on Wednesday has been closely watched in an IPO market starved of activity since Russia's invasion of Ukraine. Delek bought Ithaca in April from private equity-backed Siccar Point Energy, already flagging its intention to float. The last oil and gas producer to float on the main London stock exchange was eastern Mediterranean-focused Energean ENOG.L in 2018. Reuters Graphics($1 = 0.8716 pounds)Reporting by Sinchita Mitra in Bengaluru; Editing by Rashmi Aich and Barbara LewisOur Standards: The Thomson Reuters Trust Principles.

☆ Centrica reopens UK's Rough gas storage site in time for winter
▼ + stars: | 2022-10-28 | by ( Nora Buli | ) www.reuters.com time to read: +2 min

Oct 28 (Reuters) - British Gas owner Centrica (CNA.L) has reopened its Rough gas storage site off England's east coast at about 20% of its previous capacity, enough to heat 1 million homes for 100 days this winter, the company said on Friday. Before it was closed, Rough represented more than 70% of UK storage and supplied 10% of peak winter demand. However, after Russia’s invasion of Ukraine and growing concerns over gas supplies this winter, Centrica upgraded the facility and started refilling the site in early autumn. Even at 20% of previous capacity, Rough is the UK's largest gas storage site and adds 50% to the UK's gas storage capacity, though this lags behind European countries, Centrica said. The long-term aim is to turn the Rough gas field into the largest long-range energy storage facility in Europe, capable of storing both natural gas and hydrogen, Centrica said.

☆ British furniture retailer Made.com stops taking orders
▼ + stars: | 2022-10-26 | by ( ) www.reuters.com time to read: +1 min

LONDON, Oct 26 (Reuters) - British online furniture retailer Made.com (MADE.L) suspended taking customer orders on Wednesday after talks to find a buyer failed, pushing the group towards administration. On Wednesday, Made.com said its operating subsidiary Made Design Ltd "has taken the decision to temporarily suspend new customer orders". As of 0922 GMT on Wednesday Made's website was down. Made.com's equity has been virtually wiped out. ($1 = 0.8636 pounds)Reporting by Sinchita Mitra in Bengaluru and James Davey in London; editing by Rashmi Aich and Jason NeelyOur Standards: The Thomson Reuters Trust Principles.

Liontrust reported net outflows of 1.6 billion pounds ($1.80 billion) in the July-September quarter, while Man Group posted net outflows of $500 million, compared with a $900 million consensus forecast. Quilter saw net inflows slow to 200 million pounds in the third quarter, compared with 1 billion pounds last year, while Rathbones' net inflows came in at 67 million pounds, following 1.43 billion pounds in outflows. Shares of Man Group dropped 5.3%, while Quilter shares shed 5%. Quilter's AUM at the quarter end was down by 1.8 billion pounds to 96.9 billion pounds. Rathbones' AUM fell to 57.9 billion pounds from 58.9 billion pounds at June-end, while Liontrust's slipped to 31.7 billion pounds over the same period.

☆ Ladbrokes owner Entain sees higher quarterly online gaming revenue
▼ + stars: | 2022-10-13 | by ( ) www.reuters.com time to read: 1 min

Oct 13 (Reuters) - Entain (ENT.L) on Thursday forecast its fourth-quarter online gaming revenue to improve on the prospect of the soccer World Cup set to start next month, while the British gambling firm also reported a marginal rise in its total net gaming revenue. Entain, which owns Ladbrokes and Coral betting shops as well as bwin and partypoker online brands, said total revenue rose 2% in the three-month period ended Sept. 30, but was flat on a constant-currency basis. Register now for FREE unlimited access to Reuters.com RegisterReporting by Sinchita Mitra in Bengaluru; Editing by Sherry Jacob-PhillipsOur Standards: The Thomson Reuters Trust Principles.

☆ BA-owner IAG summer profit beats expectations, no weakness in forward bookings
▼ + stars: | 2022-10-13 | by ( ) www.reuters.com time to read: +1 min

Oct 13 (Reuters) - British Airways-owner IAG (ICAG.L) reported better than expected results for its key summer period due to strong demand and pricing and said that future bookings were not showing any signs of weakness, pushing its shares up as much as 10%. European airline stocks have plunged over the last six months over worries that rising household bills will dampen appetite for travel, but IAG said it was confident on future demand. Register now for FREE unlimited access to Reuters.com Register"Forward bookings remain at expected levels for the time of year, with no indication of weakness, and accordingly our fourth quarter expectations remain unchanged as of today," the group said in a statement. The full results statement is due to be announced on Oct. 28. ($1 = 1.0272 euros)Register now for FREE unlimited access to Reuters.com RegisterReporting by Sinchita Mitra in Bengaluru and Sarah Young in London; Editing by Savio D'Souza and James DaveyOur Standards: The Thomson Reuters Trust Principles.

☆ Cineplex makes approach for Cineworld's U.S. franchise, WSJ reports
▼ + stars: | 2022-09-28 | by ( ) www.reuters.com time to read: +2 min

Cineworld and Cineplex have been locked in a multimillion-dollar legal battle since the London-listed company rescinded its offer to buy Cineplex more than two years ago. Cineworld has since been struggling to rein in massive debt and this month filed for bankruptcy in the United States. Cineplex is in early talks with Cineworld's lenders about taking over Regal in exchange for debt and stock backed by the combined business, the WSJ reported, citing people familiar with the matter. Cineworld's restructuring adviser Alix Partners and financial adviser PJT Partners did not respond immediately to a Reuters request for comment. Cineworld and Cineplex held talks this year about merging operations while settling the legal judgment but failed to reach an agreement, the WSJ added.

☆ Factbox: UK retailers raising staff pay amid cost-of-living crunch
▼ + stars: | 2022-09-22 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Toby MelvilleSept 22 (Reuters) - Retailers in Britain are looking to increase pay and attract staff in a tight labour market, as workers are increasingly taking to strike action amid a cost-of-living crisis in the country. read moreRegister now for FREE unlimited access to Reuters.com RegisterMARKS & SPENCERMarks & Spencer (MKS.L) said on Sept. 21 it would pay a minimum of 10.20 pounds, up from 10.00 pounds, from Oct. 1. read moreSAINSBURY'SSainsbury's (SBRY.L) said on Sept. 13 it will from Oct. 16 pay a minimum of 10.25 pounds, up from 10.00 pounds, and 11.30 pounds in London, up from 11.05 pounds. read moreTESCORetailer Tesco (TSCO.L) in September started to offer better perks to its workers including free food and essentials. read moreMORRISONSMorrisons on June 10 said it would pay a minimum of 10.20 pounds from October, with London workers paid a minimum of 11.05 pounds.

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