UK's Rosebank Industries in talks to buy US-based ECI for less than $1.9 billion
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Daily Mail
23 minutes ago
- Daily Mail
The best universities in Britain for a degree in business: Our definitive guide for 2026 scores 85 institutions on everything from student life to graduate jobs and salary prospects. Read it here
The University of Reading is the best place to get a business degree in the UK, according to the 2026 edition of the Daily Mail University Guide. Students are based at the world–renowned Henley Business School which is home to more than 7,000 students from 100 countries and offers a wide range of undergraduate and postgraduate business courses.
Reuters
23 minutes ago
- Reuters
US, European shares little changed ahead of Ukraine talks, Jackson Hole
LONDON/NEW YORK, Aug 18 (Reuters) - Wall Street and European shares were flat to marginally lower on Monday ahead of a potentially eventful week for U.S. interest rate policy, even as attention turned to Washington where Ukraine's Volodymyr Zelenskiy and European leaders will meet President Donald Trump. The S&P 500 (.SPX), opens new tab was down slightly in midday trading, but remained within striking distance of its all-time high hit on Friday. The pan-European STOXX 600 index (.STOXX), opens new tab was flat after hitting its highest since March last week, which left the MSCI All Country World Index (.MIWD00000PUS), opens new tab 0.1% lower, but not far from its record high touched on Friday. Earlier in the Asian session, indexes in Japan and Taiwan hit record peaks, while a gauge of Chinese stocks (.SSEC), opens new tab reached its highest level in a decade. Investors were bracing for Trump's meeting with Zelenskiy and European leaders later on Monday to discuss the next steps to end the war in Ukraine, after Trump's summit with Russian President Vladimir Putin in Alaska on Friday. "Expectations for any breakthrough are low, but apart from energy and assets with direct exposure to the region, the marginal impact on sentiment from the conflict has faded," Geoff Yu, EMEA macro strategist wrote in a research note. While the Alaska summit did not result in an agreement, Trump afterwards appeared more aligned with Moscow on seeking a full peace deal over Ukraine instead of a ceasefire first. Another key focus for the week is the Federal Reserve's August 21-23 Jackson Hole symposium, where Chair Jerome Powell is due to speak on the economic outlook and the central bank's policy framework. Markets imply around an 85% chance of a quarter-point rate cut at the Fed's meeting on September 17, and are pricing a further cut by December. "Fed Chair Jerome Powell will likely signal Friday that risks to employment and inflation are becoming more balanced, which would imply lowering policy rates toward neutral," wrote Andrew Hollenhorst, chief U.S. economist at Citi in a research note. "But he will stop short of committing to a cut next month, awaiting jobs and inflation data for August." The prospect of lower borrowing costs globally has underpinned stock markets, and Japan's Nikkei (.N225), opens new tab climbed to a fresh record high. MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS), opens new tab added 0.1%, having scaled a four-year peak last week. In Europe, Germany's DAX (.GDAXI), opens new tab eased 0.3%. Britain's FTSE (.FTSE), opens new tab was up 0.1%. The rally in stocks has been underpinned by a solid earnings season as the S&P 500 EPS grew 11% on the year and 58% of companies raised their full-year guidance. "Earnings results have continued to be exceptional for the mega-cap tech companies," said analysts at Goldman Sachs. "While Nvidia has yet to report, the Magnificent 7 apparently grew EPS by 26% year/year in 2Q, a 12% beat relative to consensus expectation coming into earnings season." This week's results will provide some colour on the health of consumer spending, with Home Depot, Target, Lowe's and Walmart all reporting. In bond markets, the yield curve steepened, with the gap between two-year and 10-year Treasury yields hitting 57.8 basis points . That's the largest gap since mid-July. Rates on the long end of the curve rose much faster than those on the front end, suggesting higher inflation expectations. European bonds also have been pressured by the prospect of increased borrowing to fund higher defence spending, pushing German and French long-term yields to their highest since 2011. Wagers on more Fed easing have weighed on the dollar, which dropped 0.3% against a basket of currencies last week and last stood at 98.102 . The dollar rose 0.4% versus the yen to 147.75 , while the euro fell 0.3% to $1.1667 . In commodity markets, gold was flat at $3,335 an ounce after losing 1.9% last week. Oil prices rose ahead of the meeting between Trump and Zelenskiy. Brent was up 0.3% at $66.09 a barrel, while U.S. crude stood at $63.09 per barrel, up 0.5%
The Independent
25 minutes ago
- The Independent
Soho House agrees to go private again in a deal led by hotel giant MCR
After a shaky four years on Wall Street, Soho House is ready to go private again. The luxury members club operator has struck a deal with an investor group led by hotel giant MCR, which will buy its outstanding shares for $9 each in cash. Soho House's Executive Chairman Ron Burkle and other big shareholders will roll over their stakes and retain control of the business, per a Monday announcement from the company. The take-private offer implies a total enterprise value of roughly $2.7 billion for Soho House, including debt. The company says it expects to complete the deal by the end of 2025, pending the regulatory greenlight and other closing conditions. If approved, the transaction means Soho House will stop trading on the New York Stock Exchange. Shares of Soho House climbed more than 15% by mid-morning Monday, following news of Soho House signing the agreement. Among other big names to join Soho House's future leadership is actor and now tech investor Ashton Kutcher, who is set to join the company's board following the deal's completion. Tyler Morse, CEO of New York-based MCR, will also join the board as Vice Chairman. In a statement, Morse said that MCR had 'long admired' Soho House and that its investment in the company 'represents a strategic opportunity to combine our operational expertise with one of the most distinctive brands in hospitality.' Soho House CEO Andrew Carnie pointed to the club's growth over the years, and said that returning to private ownership will help the company 'build on this momentum." Soho House's roots date back to 1995, starting with a single club in London opened by founder Nick Jones. But today, the company's footprint includes 46 Soho House locations worldwide, in addition to a handful of coworking spaces, beach clubs and digital platforms. Soho House describes itself as a 'global membership platform of physical and digital spaces.' It bills its flagship clubs — which include spas, gyms and other luxury amenities — as a 'home for creative people to come together and belong.' Known for attracting celebrities and other figures with deep pockets, membership fees often rack up to at least several thousand dollars a year. Soho House had more than 270,000 total members as of the end of June. And the company has reported an uptick in revenue during recent quarters. In earnings announced earlier this month, Soho House said had a total of it raked in $329.8 million in total revenues for its second fiscal quarter, an 8.9% jump year-over-year. Despite recent growth, the company's stock has tumbled during its time on the public market. Since Soho House began trading in 2021, its stock has fallen roughly 30%, trading at under $9 a share on Monday. That's down from $14 a share that the company debuted in its July 2021 initial public offering.
