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Small businesses like his in Britain are being hammered by rising costs which they would struggle to pass onto cash-strapped consumers. It has left many small businesses fighting for survival. Over the course of last year citrus ingredients shot up by between 25% and 35% in price, he said. They now cost nearer to 15 pounds because of a 50% jump in the price of tinned tomatoes. He said: "We're just looking into every single aspect of the expenses that we incur to try and make a living."

Palliser and some of Capricorn's biggest shareholders had also publicly opposed a planned merger with Israeli gas producer NewMed (NWMDp.TA), with major proxy advisers recommending votes against the merger plan and Capricorn's board. Chairperson Nicoletta Giadrossi, CEO Simon Thomson and three other directors stepped down from the board with immediate effect, Capricorn said on Tuesday. NewMed said in a statement following Capricorn's board shake-up that it saw a significantly smaller chance of finalising the merger. Capricorn postponed the NewMed vote to Feb. 22, while the meeting called by Palliser regarding the directors will go ahead as planned. The NewMed merger plan, announced in September, aims to create an Israel-Egypt focused gas producer, but several shareholders have said the deal undervalues Capricorn.

☆ Britain faces new ambulance strike dates in Feb, March
▼ + stars: | 2023-01-20 | by ( ) www.reuters.com time to read: +2 min

LONDON, Jan 20 (Reuters) - British labour union Unite said ambulance workers would strike on a series of new dates in February and March, in the latest sign of the deepening dispute between the government and healthcare workers over pay. Unite said ambulance workers in England would walk-out on Feb. 6, Feb. 17, Feb. 20 and Feb. 22 and Mar. 20, with members in different regions holding walk-outs on different days. The new dates will add to fears for the safe running of Britain's healthcare service on Feb. 6, when other health-related unions including the Royal College of Nursing are also staging industrial action. Members from a different union, the GMB, which represents ambulance and other healthcare workers including emergency care assistants, are already planning strikes on Feb. 6, Feb. 20, March 6 and March 20.

☆ Brexit deal a 'nightmare' for small businesses - survey
▼ + stars: | 2022-12-22 | by ( ) www.reuters.com time to read: +2 min

The survey of more than 1,168 businesses, which was published on Wednesday, showed significant challenges for UK firms trying to use the Trade and Co-operation Agreement (TCA) that was signed in 2020 to allow tariff-free trade with the European Union once Brexit took effect. About 56% of firms face difficulties adapting to the new rules for trading goods, the survey found, while around 44% of businesses also reported challenges in getting visas for their staff. About 92% of the businesses surveyed were small and medium enterprises. Simple importing of parts to fix broken machines or raw materials from the EU have become a major time-consuming nightmare for small businesses," a manufacturer in the East Midlands was quoted as saying in the BCC survey report. Britain formally withdrew from the European Union on Jan. 31, 2020.

☆ Microsoft to buy 4% stake in London Stock Exchange
▼ + stars: | 2022-12-12 | by ( Huw Jones | ) www.reuters.com time to read: +3 min

[1/2] The London Stock Exchange Group offices are seen in the City of London, Britain, December 29, 2017. The European Union has just approved a law introducing safeguards on cloud providers in financial services, with Britain set to follow suit. "We will continue to maintain our multi-cloud strategy and working with other cloud providers," Schwimmer said. Microsoft said the basis of the partnership will be the digital transformation of LSEG's technology infrastructure and Refinitiv platforms on to the Microsoft Cloud. Microsoft will buy LSEG shares from the Blackstone (BX.N)/Thomson Reuters (TRI.TO), Consortium, the exchange operator said.

☆ Microsoft to buy about 4% stake in LSEG as part of 10-yr commercial deal
▼ + stars: | 2022-12-12 | by ( ) www.reuters.com time to read: +1 min

[1/2] The London Stock Exchange Group offices are seen in the City of London, Britain, December 29, 2017. REUTERS/Toby Melville/File PhotoDec 12 (Reuters) - Microsoft (MSFT.O) will buy about 4% equity stake in London Stock Exchange Group (LSEG.L) as part of a 10-year commercial deal to migrate the bourse operator's data platform into the cloud, the British company said on Monday. Microsoft will buy LSEG shares from the Blackstone (BX.N)/Thomson Reuters (TRI.TO), (TRI.N) Consortium, the bourse operator said. As part of the deal, LSEG has made a contractual commitment for minimum cloud-related spend with Microsoft of $2.8 billion over the term of the partnership. Thomson Reuters, which owns Reuters News, has a minority shareholding in LSEG following the Refinitiv deal.

☆ Unilever mulls $3 bln sale of some U.S. ice cream brands - Bloomberg News
▼ + stars: | 2022-12-08 | by ( ) www.reuters.com time to read: +1 min

Dec 8 (Reuters) - British consumer goods giant Unilever (ULVR.L) is considering the sale of a portfolio of U.S. ice cream brands such as Klondike and Breyers, that could be valued at as much as $3 billion, Bloomberg News reported on Thursday. International labels Magnum and Ben & Jerry's are not part of the review, the Bloomberg News report said, citing people familiar with the matter. Deliberations are ongoing and the company may still decide not to sell the brands, the report added. In June, Unilever sold its Ben & Jerry's ice cream business in Israel to its local licensee for an undisclosed sum, aiming to smooth over a diplomatic dispute. Ben & Jerry's and Unilever have been in a bitter legal dispute over the sale ever since.

☆ Christmas tracks bring cheer to music catalogue investor Hipgnosis
▼ + stars: | 2022-12-08 | by ( ) www.reuters.com time to read: +2 min

[1/2] Mariah Carey performs at the Global Citizen Concert in New York City, New York, U.S., September 24, 2022. REUTERS/Caitlin OchsDec 8 (Reuters) - Pop stars Mariah Carey and Michael Bublé's popular Christmas songs are bolstering Hipgnosis Songs Fund (SONG.L) in the run up to the holidays, as the London-listed music catalogues investor continues to capitalise on the boom in music streaming. "In the wider music market, people continue to listen to and pay for music irrespective of today's cost of living challenges," Mercuriadis said on Thursday. Hipgnosis said underlying net revenue grew 5.8% year-on-year to $65.1 million in the six months to September. Reporting by Pushkala Aripaka and Yadarisa Shabong in Bengaluru; Editing by Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.

☆ UK retailer Next to buy collapsed rival Joules - media reports
▼ + stars: | 2022-12-01 | by ( ) www.reuters.com time to read: +1 min

Dec 1 (Reuters) - British fashion chain Next Plc (NXT.L) has secured a deal to buy collapsed retailer Joules (JOUL.L) out of administration, according to media reports on Thursday. Before Joules went into administration, Next was in talks with the company over a potential 15 million pound equity investment, but talks were eventually terminated. Last month, some reports said South African fashion retailer TFG (TFGJ.J), the owner of British brands such as Phase Eight, Hobbs, Whistles and Damsel, was also in the race to buy Joules. loadingNext, TFG, M&S, Frasers and Joules' administrator, Interpath Ltd, did not immediately respond to Reuters' requests for comment. TFG's chief executive on Wednesday had declined to comment on reports that it was buying Joules.

☆ UK's Ofgem says price cap will rise to nearly $5,200 without intervention
▼ + stars: | 2022-11-24 | by ( ) www.reuters.com time to read: +1 min

Nov 24 (Reuters) - British energy regulator Ofgem said its price cap for average household energy bills would rise by about 21% to 4,279 pounds ($5,170.74) a year from January to the end of March 2023. Households, however, will not pay this amount as Ofgem's price cap has been superseded by a government backed price guarantee set at 2,500 pounds a year for average consumption until the end of March 2023. Ofgem's announcement means the government action will save typical households around 1,779 pounds a year, compared with the level they would have needed to pay under the regulators cap. The government price guarantee rises to an average 3,000 pounds a year from April 1 until the end of March 2024. read moreThe cost of wholesale gas has increased, especially since Russia's invasion of Ukraine in late February, and the price that suppliers need to charge per unit of energy has gone up sharply, prompting the government to step in and help consumers. ($1 = 0.8275 pounds)Reporting by Yadarisa Shabong in Bengaluru and Susanna Twidale in London; Editing by Anil D'Silva and Rashmi AichOur Standards: The Thomson Reuters Trust Principles.

☆ Royal Mail parent slides to half-yearly loss as UK business drags
▼ + stars: | 2022-11-17 | by ( ) www.reuters.com time to read: +1 min

Nov 17 (Reuters) - Royal Mail's parent company International Distributions Services (IDSI.L) on Thursday reported a first-half loss of 57 million pounds ($67.88 million) as higher costs and disruptions arising from strikes by its postal workers put a strain on its finances. The former British postal monopoly, which recently changed the name of its holding company from Royal Mail Plc, still expects full-year adjusted operating loss for Royal Mail - its UK business - of around 350 million to 450 million pounds. It is targeting for Royal Mail to return to adjusted operating profit in full year 2024-25. Royal Mail had said it could cut up to 10,000 jobs and warned of more layoffs and even deeper financial losses if it cannot reach an agreement with the CWU. ($1 = 0.8397 pounds)Reporting by Yadarisa Shabong 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.

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.

☆ Royal Mail could cut 5,000-6,000 jobs by next August
▼ + stars: | 2022-10-14 | by ( ) www.reuters.com time to read: +1 min

Oct 14 (Reuters) - Royal Mail could cut as many as 5,000 to 6,000 jobs by the end of August next year, parent company International Distributions Services (IDSI.L) said on Friday, as the British company remains locked in a bitter dispute with its largest labour union. The Communication and Workers Union (CWU), representing 115,000 Royal Mail postal workers, have held strikes in September and early October, and have threatened more strikes this month and next. Royal Mail would post an adjusted operating loss of around 350 million pounds this year, after taking into account the hit from the strikes that have taken place or are scheduled, International Distributions Services forecast. The company said there could be more job losses at Royal Mail, its UK business, if strikes went ahead during the holiday period. Royal Mail, the former British postal monopoly recently changed the name of its holding company to International Distributions Services from Royal Mail Plc.

Unilever logo is displayed on Dove soap boxes in this illustration taken on January 17, 2022. Unilever's search begins at a time of soaring food and energy prices which are hitting household budgets and hurting consumer confidence. The move was met with disapproval from shareholders, some of whom also criticised Unilever for prioritising sustainability over core growth. "This may signal more welcome future change at Unilever," Tineke Frikee, fund manager at Unilever investor Waverton Asset Management, said. A Unilever spokesperson said the company is "fully committed to the organisational changes" and that Jope is "completely committed to delivering against that strategy."

☆ Unilever CEO Alan Jope to retire at end of 2023
▼ + stars: | 2022-09-26 | by ( ) www.reuters.com time to read: +1 min

Register now for FREE unlimited access to Reuters.com RegisterUnilever logo is displayed on Dove soap boxes in this illustration taken on January 17, 2022. REUTERS/Dado Ruvic/IllustrationSept 26 (Reuters) - Unilever (ULVR.L) CEO Alan Jope plans to retire at the end of 2023, the maker of Dove soap and Knorr stock cubes said on Monday, roughly two months after activist investor Nelson Peltz joined the board. The British consumer goods maker said its board would start a formal search for his successor, considering both internal and external candidates. Register now for FREE unlimited access to Reuters.com RegisterThe move was met with disapproval from shareholders, some of whom also criticised Unilever for prioritising sustainability over core growth. ($1 = 0.9410 pounds)Register now for FREE unlimited access to Reuters.com RegisterReporting by Yadarisa Shabong in Bengaluru and Richa Naidu in London; Editing by Saumyadeb Chakrabarty and Sherry Jacob-PhillipsOur Standards: The Thomson Reuters Trust Principles.

☆ UK housing index at 11-year low on rate-hike fears
▼ + stars: | 2022-09-26 | by ( Yadarisa Shabong | ) www.reuters.com time to read: +2 min

Register now for FREE unlimited access to Reuters.com RegisterEstate agent signs are seen outside a residential housing in south London, Britain, August 6, 2021. Register now for FREE unlimited access to Reuters.com RegisterThe housebuilders index fell 6% to hit its lowest level since March 2013. "The weak pound is driving expectations for further rate increases, which means lower house prices," Peel Hunt analyst Sam Cullen said. Shares of Taylor Wimpey hit their lowest since 2014, Persimmon since 2016, and Barratt and Berkeley stocks since March 2020. Register now for FREE unlimited access to Reuters.com RegisterReporting by Yadarisa Shabong in Bengaluru; Editing by Anil D'Silva and Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.

Made.com web site is seen on a smartphone in front of a displayed logo in this illustration taken June 16, 2021. Made.com employs around 700 people, indicating more than 200 jobs could be cut. In the past year supply chain disruptions, made worse by Russia's invasion of Ukraine, have also pushed up costs for companies, including Made.com. Made.com appointed PricewaterhouseCoopers (PwC) as its financial adviser to the strategic review and formal sale process. British retailer DFS Furniture (DFSD.L)last week also warned of a challenging outlook for the furniture sector, saying volumes have fallen as demand wanes.

☆ Man United set financial goals for year after quarterly loss narrows
▼ + stars: | 2022-09-22 | by ( ) www.reuters.com time to read: +2 min

Net debt, a bone of contention for the fan base, grew nearly 23% to 514.9 million pounds, hurt by a weaker sterling. Register now for FREE unlimited access to Reuters.com RegisterThe 20-time English champions have seen several changes this year, including welcoming CEO Richard Arnold, who effectively replaced Executive Vice-chairman Ed Woodward. The club forecast total revenue for the 2022-23 period to be between 580 million and 600 million pounds and is targeting adjusted core profit between 100 million to 110 million pounds. The English Premier League soccer club reported a net loss of 70.7 million pounds for the three months to June 30, compared with a loss of 107.7 million pounds a year earlier. ($1 = 0.8855 pounds)Register now for FREE unlimited access to Reuters.com RegisterReporting by Yadarisa Shabong and Chris Peters in Bengaluru Editing by Keith Weir and Toby ChopraOur Standards: The Thomson Reuters Trust Principles.

REUTERS/Andrew BoyersSept 21 (Reuters) - Shares in British homebuilders rose sharply on Wednesday morning after a media report said the government would cut stamp duty - a tax on property purchases - in a mini-budget on Friday. Peel Hunt analyst Sam Cullen said any stamp duty cut could help housebuilders better offset inflation in building costs, which has been largely cushioned by higher house prices. The Times said the plan to cut stamp duty would be part of new Prime Minister Liz Truss's drive to boost economic growth. A temporary stamp duty cut was used to support the market by previous finance minister Rishi Sunak during the COVID-19 pandemic. Currently, no stamp duty is paid on the first 125,000 pounds ($141,650) of any property purchase.

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