Latest news with #Brexit-related
Yahoo
3 days ago
- Business
- Yahoo
Factbox-UK Market Exodus: Companies that have moved away from a London listing
(Reuters) -British money transfer firm Wise became the latest UK listed firm on Thursday to say that it intends to move its primary listing to the U.S. from London. A growing number of companies have shelved or shifted plans to list in London, due to investor pushback and Brexit-related challenges that have pressured UK market valuations. Instead, they have opted for the U.S. and other markets, where they see stronger appetite and higher valuations. Cobalt: The Glencore-backed metals investor scrapped its plans for a London IPO on Wednesday, which, according to one source, was driven by a lack of demand. The company, valued at around $230 million, would have seen London's largest market debut since Air Astana's listing in February 2024. Indivior: The drugmaker said on Monday it will cancel its secondary listing on the London Stock Exchange effective July 25, citing cost savings and a desire to align more closely with its U.S.-focused operations. The 1.25 billion pound ($1.70 billion) pharmaceutical firm will retain its primary listing on the Nasdaq. BHP: The world's largest miner by market value ($125.10 billion) made Australia its primary stock market when it ended its dual-listing structure in 2021. The company was the second largest by market value in London when it left the stock market. Unilever: The Ben & Jerry's maker in February picked Amsterdam as the primary listing for its ice cream business. The business, which generated a turnover of 8.3 billion euros ($9.47 billion) in 2024, will have secondary listings in London and New York. Glencore: The Swiss miner said in February it was considering moving its primary listing from London. The company, with a market value of 34.5 billion pounds, said New York was at the top of the list under consideration. Shein: The online fast fashion retailer is working towards a listing in Hong Kong after its proposed initial public offering (IPO) in London failed to secure the green light from Chinese regulators, three sources with knowledge of the matter told Reuters in May. However, before its attempt to list in London, Shein had pursued a listing in New York, as part of its efforts to gain legitimacy as a global, rather than a Chinese company, and access to a wide pool of large Western investors. Ashtead: The second-largest equipment rental company in the U.S. said in December it plans to shift its listing to New York. With a market value of 18.3 billion pounds, Ashtead has been listed in London since 1986, and transformed into a major U.S. player in the early 2000s. Just Eat Takeaway: The Amsterdam-listed food delivery company delisted from the London Stock Exchange in December, citing efforts to reduce administrative and regulatory costs. The company has a market value of 4.05 billion euros. Flutter Entertainment: The FanDuel-owner in 2024 moved its primary listing to the New York Stock Exchange (NYSE), just a few months after it added a secondary listing in the US. CRH: The building materials solutions provider, which has $61.29 billion in market value, switched its primary listing to the NYSE in 2023, while maintaining a standard listing on the London Stock Exchange. Arm Holdings: The UK-based chip designer chose Nasdaq over London for its 2023 IPO — the largest of that year. The company, now valued at just over $138 billion, was previously listed in London for 18 years till 2016, when it was taken private by SoftBank in a $32 billion acquisition. ($1 = 0.8763 euros) ($1 = 0.7355 pounds) Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Reuters
3 days ago
- Business
- Reuters
UK Market Exodus: Companies that have moved away from a London listing
June 5 (Reuters) - British money transfer firm Wise (WISEa.L), opens new tab became the latest UK listed firm on Thursday to say that it intends to move its primary listing to the U.S. from London. A growing number of companies have shelved or shifted plans to list in London, due to investor pushback and Brexit-related challenges that have pressured UK market valuations. Instead, they have opted for the U.S. and other markets, where they see stronger appetite and higher valuations. Cobalt: The Glencore-backed metals investor scrapped its plans for a London IPO (IPO-COBL.L), opens new tab on Wednesday, which, according to one source, was driven by a lack of demand. The company, valued at around $230 million, would have seen London's largest market debut since Air Astana's ( opens new tab listing in February 2024. Indivior (INDV.L), opens new tab: The drugmaker said on Monday it will cancel its secondary listing on the London Stock Exchange effective July 25, citing cost savings and a desire to align more closely with its U.S.-focused operations. The 1.25 billion pound ($1.70 billion) pharmaceutical firm will retain its primary listing on the Nasdaq. BHP: The world's largest miner by market value ($125.10 billion) made Australia ( opens new tab its primary stock market when it ended its dual-listing structure in 2021. The company was the second largest by market value in London when it left the stock market. Unilever (ULVR.L), opens new tab: The Ben & Jerry's maker in February picked Amsterdam as the primary listing for its ice cream business. The business, which generated a turnover of 8.3 billion euros ($9.47 billion) in 2024, will have secondary listings in London and New York. Glencore (GLEN.L), opens new tab: The Swiss miner said in February it was considering moving its primary listing from London. The company, with a market value of 34.5 billion pounds, said New York was at the top of the list under consideration. Shein: The online fast fashion retailer is working towards a listing in Hong Kong after its proposed initial public offering (IPO) in London failed to secure the green light from Chinese regulators, three sources with knowledge of the matter told Reuters in May. However, before its attempt to list in London, Shein had pursued a listing in New York, as part of its efforts to gain legitimacy as a global, rather than a Chinese company, and access to a wide pool of large Western investors. Ashtead (AHT.L), opens new tab: The second-largest equipment rental company in the U.S. said in December it plans to shift its listing to New York. With a market value of 18.3 billion pounds, Ashtead has been listed in London since 1986, and transformed into a major U.S. player in the early 2000s. Just Eat Takeaway ( opens new tab: The Amsterdam-listed food delivery company delisted from the London Stock Exchange in December, citing efforts to reduce administrative and regulatory costs. The company has a market value of 4.05 billion euros. Flutter Entertainment (FLTRF.L), opens new tab: The FanDuel-owner in 2024 moved its primary listing to the New York Stock Exchange (NYSE), just a few months after it added a secondary listing in the US. CRH (CRH.N), opens new tab: The building materials solutions provider, which has $61.29 billion in market value, switched its primary listing to the NYSE in 2023, while maintaining a standard listing on the London Stock Exchange. Arm Holdings: The UK-based chip designer chose Nasdaq over London for its 2023 IPO — the largest of that year. The company, now valued at just over $138 billion, was previously listed in London for 18 years till 2016, when it was taken private by SoftBank (9984.T), opens new tab in a $32 billion acquisition. ($1 = 0.8763 euros) ($1 = 0.7355 pounds)
The Herald Scotland
08-05-2025
- Business
- The Herald Scotland
Hope yet for small food and drink firms in volatile markets
As a firm, we'd like to see ministers supporting the industry with sensible taxation, increased grant funding and greater trust in business owners, but we're also clear that operators must play their part with effective planning and forecasting, and a keen focus on cash flow. Read more: According to our research, labour (53%), raw materials (20%) and energy (12%) account for the industry's greatest costs. Upcoming increases to the national minimum wage and higher national insurance contributions (NICs) are having a disproportionate impact on food and drink SMEs, where labour-intensive processes remain the norm. The volatile energy market isn't helping. Rising and unpredictable energy costs are an ongoing concern, with more than one in 10 of our respondents citing energy as their biggest cost increase. Meanwhile, raw ingredient supply chains remain turbulent. A mix of Brexit-related import challenges, global commodity fluctuations, and climate change-related crop issues are creating ongoing uncertainty for producers. After cocoa prices surged to their highest level in 50 years, driven by crop diseases and adverse weather, many chocolate producers are now more familiar with the weather forecast in West Africa than where they are going on their next family holiday. Despite the pressures, there are clear routes forward for SMEs willing to take a proactive, strategic approach. Read more: While more than half of our respondents have not to date pursued automation, it is becoming an increasingly important – and affordable – tool as technology progresses. By investing in automated production, packaging, and quality control systems, SMEs can reduce their reliance on manual labour and ensure their people are carrying out meaningful, high value work. In a crowded marketplace, a strong brand can help SMEs shift from price-takers to value-setters. Businesses that articulate their value through branding, storytelling, and digital marketing are better equipped to demand a premium price and encourage customer loyalty. A tight labour market has evolved post-Covid and it's essential that SMEs get the best from their people amid a high-cost environment. Encouraging a positive workplace culture and implementing strong performance management frameworks — including clear goals, recognition, and development opportunities — will help to boost morale and productivity. For some businesses, scale could be the solution. Larger operations benefit from bulk buying and broader distribution, and are better-positioned to survive shocks in the supply chain. Organic growth options include expanding product lines and entering new markets, with export ranking as the primary driver of growth in our survey, but mergers or acquisitions can also drive new capabilities and customers. This year has already seen consolidation in the marketplace, including Dean's of Huntly's acquisition of Duncan's of Deeside Limited, bringing together two respected shortbread brands to pursue fresh growth. The outlook is undoubtedly tough, but UK food and drink SMEs still have a sustainable future. Through investment in automation, brand development, culture and scale, they can transform vulnerability into opportunity. Graham Marjoribanks is a partner and head of audit at Johnston Carmichael.
Yahoo
05-05-2025
- Politics
- Yahoo
BBC: Bulgarians suspected of spying for Russia in UK visited Parliament at least once
Three Bulgarians who have been convicted of spying for Russia in the UK attended events at Parliament at least once in the past, including a Brexit-related debate in 2016. Source: European Pravda; BBC investigation Details: BBC journalists found out from photos posted on social media that Orlin Roussev, Biser Dzhambazov and Katrin Ivanova were present at a Brexit debate in a committee room in May 2016. Two people who knew Roussev at the time have confirmed that he is in the photo. The BBC journalists visually identified Dzhambazov and Ivanova. The latter was also found on a list of people who confirmed they would be attending the event. The event was organised by representatives of European political parties (the parties are not specified), including the Bulgarian Socialist Party (BSP), which Dzhambazov and Ivanova joined in early 2016. The same event was attended by BSP politician Georgi Pirinski (at that time a member of the European Parliament for his party), Roberto Sperenza, who served as Italy's Minister of Health under Prime Minister Guiseppe Conte, and representatives of the Romanian Social Democrats. Sir Iain Duncan Smith, a former leader of the UK's Conservative Party, said that following these revelations, Parliament should look into whether there were other cases when members of the spy ring had been in the building. Background: A total of six Bulgarian citizens were accused of spying. Three were convicted in March 2025 and the others pleaded guilty. They are expected to be sentenced later this week. Earlier, BBC journalists identified two women believed to be members of the spy network who are still at large. Support Ukrainska Pravda on Patreon!
Irish Post
04-05-2025
- Politics
- Irish Post
Sinn Féin to move motion calling for presidential voting rights to be granted to those living in Northern Ireland
SINN FÉIN is to move a motion at the Northern Ireland Assembly calling for the Irish Government to extend presidential voting rights to those living in the North. The party's National Chairperson, Declan Kearney MLA, said it would be an opportunity for the Assembly to have its voice heard on the issue. In 2013, the Constitutional Convention recommended extending voting rights to Irish citizens outside the state. Sinn Féin brought legislation to the Dáil in 2015 to have this enacted and Mr Kearney said the party intends to do so again in this Dáil term. "Despite commitments made by successive governments and widespread political support, Fianna Fáil and Fine Gael have repeatedly delayed action," said the MLA for South Antrim. "As Irish citizens in the north we can stand for, and be elected as Uachtarán na hÉireann. Therefore we should be able to vote for Uachtarán na hÉireann. "This debate will enable the Assembly to have its say on this issue and support the rights of Irish citizens here. "It is time to extend voting rights in elections for President of Ireland to all Irish citizens on the island of Ireland." An Options Paper on extending voting rights to Irish citizens outside the state was published in 2017 ahead of a proposed 2019 referendum. However, the vote was postponed by the Irish Government in February 2019 as it prioritised dealing with Brexit-related issues. A bill was introduced in September 2019 to amend the constitution to extend voting rights in presidential elections to Irish citizens living abroad. However, it lapsed in January 2020 when the Dáil was dissolved ahead of the following month's General Election. It was restored to the Order Paper in July 2020 but lapsed again in November 2024 with the dissolution of the Dáil prior to the most recent General Election. The current government's Programme for Government issued in January did not mention the issue. See More: Declan Kearney, Sinn Féin, Voting Rights
