Latest news with #UK-focused
Observer
13-07-2025
- Business
- Observer
For investors UK is now ‘an attractive place to be'
The chief executive of James Henderson – a British-American global asset management group headquartered in London – Ali Dibadj, has said international investors are 'starting to take notice' of investment opportunities in the UK, adding to the growing chorus of senior finance executives who are bullish about British assets. The company offers a range of financial products to individuals, intermediary advisors and institutional investors globally, under the trade name Janus Henderson – the groups holding company. 'There is an enormous opportunity, not just for investors to invest in the UK, but to open up the UK to investors around the world.' Dibadj said. 'The UK has a stable political backdrop and has solid foundations for growth – a UK consumer that is in real wage growth and has built up savings since covid, businesses that have been conservative in their borrowings, and banks that have re-built their balance sheets since the global financial crisis.' Dibadj, who joined Janus Henderson in 2022 from Alliance Bernstein, added that a likely lower interest rate environment in the UK and a stock market that trades at a 'significant valuation discount' to those elsewhere in the world were among other reasons to be optimistic. 'A stable political backdrop and a modestly growing economy at a very reasonable valuation is a solid place to be,' said the 50-year-old. 'International investors are starting to take notice and there has been an uptick in inflows to UK equities from overseas.' UK-focused funds have posted considerable outflows following Brexit and several bouts of political upheaval, but the pace of withdrawals has slowed in recent months. Data from Calastone showed net outflows of £449m from UK equity funds in May were down to half the monthly average for the past three years. However, equity funds have only recorded one month of positive flows in the past four years. New York-based Dibadj is the latest high-profile investment executive to single out potential investment opportunities in the UK. In May, BlackRock CEO Larry Fink told The Times that the world's largest asset manager had been increasing investment in 'undervalued' UK assets. Fink said the $11.6m asset manager had added to its UK positions 'across the board' and claimed some of the negativity shown towards British companies 'was probably not warranted.' Buses go past the Bank of England building, in London, Britain. — Reuters 'I have more confidence in the UK economy today than I did a year ago,' Fink said. The 72-year-old pointed to the growth agenda fostered by the UK government. He highlighted in particular that the Competition and Markets Authority has sped up its decision-making. 'I don't know what's changed it but it's a good change,' Fink said. JPMorgan chief Jamie Dimon also recently backed the government's approach. He told Financial Times in April that 'there's much to like' about Labour's pro-growth agenda. Other investment leaders are pointing to renewed interest in European assets amid uncertainty following the introduction of trade tariffs by US president Donald Trump. Growth minded: Dibadj praised the UK government for 'real conviction' in pushing through market reforms that aim to spur growth and investment, such as the recent Mansion House Accord. This saw several of the UK's largest pension providers commit to allocating at least 10 per cent of their defined contribution assets to private markets by 2030. At least half of those asset will go to investments in the UK. 'There is a growth-minded government that has shown it will take action, a catalyst to kick start investment,' said Dibadj. 'That, combined with the opportunity that existing valuations present, are what makes the UK such an attractive proposition moving forward.'
Yahoo
07-07-2025
- Business
- Yahoo
HBD secures approval for phase one of $1.36bn Cheltenham project
Henry Boot's property investment and development arm, Henry Boot Developments (HBD), has secured outline planning consent for phase one of the Golden Valley project in Cheltenham, England. This marks a significant step forward for the 200ha regional regeneration project, which aims to provide approximately 2,500 new homes and 1.25 million square feet of commercial space. The outline planning consent enables the development of IDEA, the new 160,000ft² National Cyber Innovation Centre highlighted in the UK government's Modern Industrial Strategy. Additionally, the consent includes provisions for 576 residential units of various tenures to support Cheltenham's housing needs. HBD is preparing to commence construction later this year. The Golden Valley project, valued at £1bn ($1.36bn), is strategically located near the Government Communications Headquarters (GCHQ), the UK's intelligence, security, and cyber agency. The development is expected to create nearly 12,000 jobs and play a role in enhancing the UK's capabilities in AI, quantum technologies, and secure communications, contributing to national security and economic resilience. In 2022, HBD was appointed as a development partner for Golden Valley by Cheltenham Borough Council and submitted an outline planning application in October 2023. The project has garnered a £104m funding package, including a £20m contribution from the UK government, indicating public sector support and alignment with the UK's Cyber Security Strategy. The economic impact of Golden Valley extends beyond the immediate region, with potential benefits for Gloucestershire, South West England, and the UK as a whole. A separate outline planning application for an additional 443 homes is also pending determination, expected in the coming weeks. Henry Boot CEO Tim Roberts said: 'Securing planning permission marks a major milestone for both Henry Boot and the future of UK innovation. Golden Valley is a significant development and a superb example of public and private sector collaboration working well, committing regional investment that will strengthen the UK's capabilities in the highly important cybersecurity and emerging technology sectors. It is also testament to the expertise and dedication of our development team." GCHQ director of technology futures Dr Marsha Quallo-Wright said: 'We welcome this decision and are pleased to confirm our presence on this important project. We look forward to working alongside academia and industry to enhance our ability to address emerging security challenges, foster innovation and support the region's growth. "By strengthening these collaborations, we will tap into new expertise, share knowledge and help shape the skills needed for the future, all of which are vital to supporting our mission to keep the UK safe.' In December 2024, HBD announced a joint venture with Feldberg Capital to establish Origin, a UK-focused industrial and logistics platform. "HBD secures approval for phase one of $1.36bn Cheltenham project" was originally created and published by World Construction Network, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. 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
Yahoo
02-07-2025
- Business
- Yahoo
Worries over future of Chancellor hit UK stocks, the pound and bond markets
Equities in London underperformed European counterparts on Wednesday, as worries over the future of the Chancellor hit investor sentiment, knocked the pound and rocked bond markets. The FTSE 100 suffered a minor fall, with a rise in mining shares tempering its decline, though there was a slump for housebuilders. A sharper fall for the FTSE 250 typified a drab day for more UK-focused stocks, meanwhile. The FTSE 100 index lost 10.64 points, 0.1%, at 8,774.69. The FTSE 250 plunged 290.67 points, 1.3%, at 21,452.49, and the AIM All-Share fell 5.18 points, 0.7%, at 767.76. In European equities on Wednesday, the CAC 40 in Paris perked up 1.0%, while the DAX 40 in Frankfurt added 0.5%. Rachel Reeves is 'going nowhere' and will remain as Chancellor, Downing Street said, despite Prime Minister Sir Keir Starmer declining to give her a public show of support. The Chancellor was visibly tearful in the Commons, as her position came under intense scrutiny after the welfare U-turn, which put an almost £5 billion black hole in her fiscal plans. But allies said she was dealing with a 'personal matter' and No 10 said she had Sir Keir's 'full backing'. 'Since the welfare Bill will now not generate the £5 billion in savings that were originally mooted, gilt investors will be asking how Reeves will balance the books,' Rabobank analysts commented. The analysts said even though a Labour minister this morning ruled out increases to income tax, national insurance or VAT, 'the prospect of more taxation does appear to be a natural conclusion ahead of the autumn budget'. The yield on the 10-year UK Government bond had sat as high as 4.68% earlier on Wednesday, compared with around 4.45% late Tuesday. XTB analyst Kathleen Brooks commented: 'The sharp rise in bond yields happened during PMQs, the leader of the opposition asked the Prime Minister if he would confirm if Rachel Reeves would remain as Chancellor. The PM refused to say that the Chancellor would remain in position until the end of this Parliament, as a visibly distressed Reeves was watching on. The PM might be keeping his options open at this stage, but the Chancellor is a strange choice to axe from a market perspective.' Stocks exposed to rising borrowing costs fell on Wednesday. Housebuilder Berkeley Group was among the worst large-cap performers, sinking 7.9%. The pound was quoted down at 1.3612 dollars late on Wednesday afternoon in London, compared with 1.3705 dollars at the equities close on Tuesday. The euro stood higher at 1.1781 dollars, against 1.1770 dollars. Against the yen, the dollar was trading higher at 143.85 yen compared with 143.62 yen. XTB's Ms Brooks added: 'The pound is now the weakest currency in the G10 FX space, as the pound falls and yields rise. This is a sign of fiscal stress, which the UK has had to weather before. 'With all the main UK asset classes under stress today, the Government needs to be careful about its next steps. Will a surge in borrowing costs, even though the Bank of England is set to cut rates next month, cause another U-turn on benefit spending? Will there be cuts announced elsewhere, or will the Government try and tap the taxpayer for more funds?' In New York, the Dow Jones Industrial Average was marginally higher, the S&P 500 added 0.2% and the Nasdaq Composite rose 0.7%. The yield on the US 10-year Treasury was quoted at 4.29%, widening from 4.26% a day prior. The yield on the US 30-year Treasury stretched to 4.83%, widening from 4.79%. Back in London, Bytes Technology slumped 33%. The Surrey-based enterprise software firm said it expects gross profit to be at a similar level to last year and operating profit to be marginally lower, followed by more normalised growth in the second half to February 28 2026. Bytes said trading has been hit by a 'challenging macroeconomic environment', resulting in some deferral of customer buying decisions. Greggs shares fell after saying operating profit could be lower than last year, as June's hot weather reduced demand for baked goods. The Newcastle-based pastry provider said that despite 'good progress' in May, footfall declined in June amid very high temperatures, although demand for cold drinks increased. Greggs said total sales were up 6.9% in the 26 weeks to June 28, the end of its first half, to £1.03 billion, with like-for-like sales growth of 2.6%. The baker forecasts operating profit in the first half to be lower than last year, due to last year's stronger comparative and the phasing of refurbishments and cost recovery initiatives across the current year. The stock declined 15%. Topps Tiles surged 8.8%. It reported a strong acceleration in sales in its third quarter and said it expects margins to improve, despite ongoing cost pressures. The Leicestershire-based retailer said group-adjusted sales, excluding its CTD brand, rose 10% year-over-year in the 13 weeks to June 28, up from 4.1% growth in the first half. Year-to-date, adjusted sales are 6.1% higher. Topps Tiles said it expects its adjusted gross margin in the second half to be 'slightly higher' than in the first half. However, the firm flagged around £4 million in added annualised costs from April, stemming from changes to UK national insurance rates and the national living wage. Brent oil was quoted higher at 67.57 dollars a barrel at the London equities close on Wednesday, up from 66.97 dollars at the same time on Tuesday. Gold was quoted up at 3,341.71 dollars an ounce against 3,286.04 dollars. The biggest risers on the FTSE 100 were Glencore, up 14.75p at 306.00p, Antofagasta, up 84.00p at 1,916.00p, Spirax, up 260.00p at 6,175p, Anglo American, up 90.50p at 2,263.50p, and Ashtead Group, up 141.00p at 4,788.00p. The biggest fallers on the FTSE 100 were Berkeley Group, down 308.00p at 3,600.00p, Persimmon, down 88.00p at 1,210.50p, NatWest, down 27.60p at 473.80p, ConvaTec, down 14.60p at 257.40p, and Land Securities, down 33.50p at 600.00p. Thursday's economic calendar has the latest US jobs report. The US labour market took a turn for the worse last month, according to a tracker from payroll processor ADP. Private employers shed 33,000 jobs last month, a sharp reversal from the revised gain of 29,000 in May. The FXStreet-cited consensus had expected a gain of 95,000 jobs for June. Contributed by Alliance News. 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
Yahoo
16-06-2025
- Business
- Yahoo
NatWest (NWG) Appoints First Chief AI Research Officer to Drive Innovation
NatWest Group plc (NYSE:NWG) is . On June 11, the bank affirmed it is at the forefront of digital banking innovation. It announced the appointment of Dr Maja Pantic as its first Chief AI Research Officer. A portfolio manager at a financial institution discussing a real estate investment. Dr Pantic is tasked with advancing NatWest's artificial intelligence capabilities to meet customer needs and drive cutting-edge research. She joins the bank with deep AI research expertise by serving as a Professor of Affective & Behavioural Computing at Imperial College London. As the Chief AI Research officer, Pantic will focus on accelerating state-of-the-art AI use cases, such as Multimodal AI. She will also push using AI for bank-wide simplification to make workers more productive and efficient. The hiring strengthens NatWest's AI revolution, which has recently gained speed as the company uses the technology to boost productivity and improve client experiences. This includes announcing its partnership with OpenAI, introducing the bank's internal GenAI platform to all employees, and the success of its customer service and operations using virtual assistants like Ask Archie+* and Cora+. NatWest Group plc (NYSE:NWG) is a UK-focused financial institution with a broad range of services, including retail, commercial, and private banking. It offers a wide array of products like bank accounts, mortgages, loans, and investment services, serving over 19 million customers. Additionally, NatWest provides corporate and institutional client services, including risk management, financing, and global market access. While we acknowledge the potential of NWG as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: and . Disclosure: None.
Spectator
04-06-2025
- Business
- Spectator
In praise of Michael O'Leary
NatWest has returned to full private-sector ownership 17 years after the £46 billion bailout that took it into state hands – and five years after the name swap which reduced the once globally trumpeted Royal Bank of Scotland to a humble north-of-the-border branch network, while promoting its English subsidiary NatWest to become the parent brand. RBS shareholders who were almost wiped out but hung on to what are now NatWest certificates have seen their shares triple in value since 2023, finally surpassing the bailout price. HM Treasury took a £10.5 billion loss on the whole rescue exercise, which required a decade-long series of placements and buybacks to filter the taxpayers' 84 per cent holding back into the market as the bank's performance gradually recovered. But few would argue it was badly managed or wrong in the first place. Fred Goodwin's RBS, crippled by his hubristic bid for the Dutch group ABN Amro on top of a balance-sheet full of toxic debt, fully deserved to fail. But its customers did not deserve to lose their deposits and livelihoods, and when chancellor Alistair Darling received a call from Goodwin's chairman Sir Tom McKillop on 7 October 2008 telling him RBS would fail the next day, Darling had to set aside any consideration of moral hazard and step in: chaos would have ensued if he hadn't. The workaday NatWest – which never had a coherent strategy for the era of globalised banking that died with that phone call – has survived, despite a continuing tide of branch closures, as a relatively trusted high-street brand. I'm pleased to see chairman Rick Haythornthwaite talking about a 'simpler, safer' bank with a 'UK-focused business model'.
