Your morning roundup of key UK business news
Author of the article:
Bloomberg News
Leonard Kehnscherper
Published Oct 18, 2023 • Last updated 56 minutes ago • 2 minute read
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(Bloomberg) — Happy Wednesday — or a perhaps a less happy morning for the London Stock Exchange, which is set to lose one of its relatively scarce technology-focused companies. Buyout firm Apax Partners agreed to buy consulting firm Kin and Carta Plc in a £200 million deal. Kin and Carta’s shares slumped after a profit warning earlier this year as tech companies cut back on spending.
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Key Business News
Whitbread Plc: The owner of Premier Inn said demand for UK hotels is strong and supply isn’t expected to return to pre-pandemic levels for at least five years. The company’s adjusted pretax profit for the first half of the year jumped 44%, beating analysts’ expectations.
Shell Plc will buy more liquefied natural gas from Qatar and supply the commodity to the Netherlands under a long-term deal, marking the Gulf nation’s second major contract with a European oil firm this month.
The decades-long deals preferred by Qatar — which vies with the US and Australia as the world’s top LNG supplier — have become more attractive after Russia’s invasion of Ukraine upended energy markets
UK Inflation failed to slow as forecast in September, leaving open the possibility of a further interest rate hike from the Bank of England.
Markets Today’s Take
The UK inflation rate held at 6.7% in September, as rising oil prices prevented an expected fall.
While not massively above expectations, the figures do slightly puncture the narrative that it’s one way, downward, traffic for inflation in the UK.
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That adds a little bit more jeopardy to next month’s BOE decision, although traders are thus far sticking to bets that rates will stay on hold once again.
— David Goodman
For more news and analysis throughout the day, follow Bloomberg UK’s Markets Today blog.
What’s Next?
We’ve got another busy morning ahead of us tomorrow, with the likes of London Stock Exchange Group Plc, information-services provider RELX Plc, as well as fund management bellwethers Man Group Plc and Schroders Plc, all due to report results before the open.
Deliveroo Plc’s third-quarter update will be in focus as well, with investors scouring for any progress in grabbing market share from Just Eat Takeaway.com NV in the UK. Its Dutch competitor raised full-year guidance this morning after cost cuts improved profitability.
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Copyright for syndicated content belongs to the linked Source : Financial Post – https://financialpost.com/pmn/business-pmn/apax-to-buy-tech-consulting-firm-kin-and-carta-the-london-rush
