Game on! Microsoft Corp.’s stop-and-go deal to acquire Activision Blizzard Inc. got an early-morning boost from the UK’s antitrust watchdog, which said the revised deal offer from the tech giant appeared to address its concerns. Though the regulator will consult on the new offer, today’s development brings the $69 billion deal one giant step closer to being cleared.
Key Business News
Ascential Plc: The consulting firm decided to forego an interim dividend for this year so it can conserve cash to support its growth strategy and ongoing strategic review even as it said it had a “solid start” to the second half and remains “well set” for the year.
- The company is currently considering options including a full sale after efforts to offload its consumer trend-spotting unit stalled, Bloomberg has reported
Investec Plc: The South Africa-based bank continued to experience “solid performance” from underlying client franchises in the first half of the year despite challenging macroeconomic environment, with adjusted operating profit in the period driven by continued client acquisition.
Retail Sales: The sun’s out, and so are the shoppers. UK retail sales rebounded in August as more consumers flocked back to shops after cool and rainy conditions reduced activity in July.
- The volume of goods sold in stores and online rose 0.4% in August, the Office for National Statistics said Friday
- Economists had expected a gain of 0.5%
What’s Next?
Next week will see updates from companies including online fashion retailer Asos Plc and engineer Smiths Group Plc.
City Moves
Piper Sandler tapped Credit Suisse’s former head of European equity advisory sales, Brent Robbins, to lead its London equity office. HSBC also hired ex-Credit Suisse bankers, with Simon Farquharson, Andrew Rush and Simon Ansell joining its high touch execution business in London. Former Abrdn executive Caroline Connellan started as chief of M&G’s Wealth unit. Meanwhile, Blackstone’s head of European and APAC Private Credit Paulo Eapen is set to leave after 17 years at the firm.
Key Headlines
- West Needs Dialogue With China Over AI Rules, UK’s Hunt Says
- UK Is Trying Too Hard to Find Brexit Dividend, Says Jupiter Boss
- UK Consumer Confidence Climbs to Highest in Almost Two Years
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