As Boris is warned of a potential no confidence vote within days, we’re more focused on Britain’s bumper Jubilee weekend, with spenders tipped to withdraw close to £2bn to celebrate.
SPLASHING THE CASH
Corporates are celebrating by making deals, with John Wood Group selling its consulting business for $1.9bn, Tullow Oil merging with Capricorn Energy, AC Milan sold for £1bn. and Frasers Group buying Missguided out of administration. GSK is spinning off Haleon next month in London’s biggest listing for a decade, while Dr Martens shares are up 25% on stellar results. UK house prices are up for the tenth month in a row. Multi-racial Bradford is to be the UK’s city of culture in 2025. Sign up for today’s final webinar in our series on investing in real assets in an uncertain world, which focuses on media and technology. The first two, which looked at renewables, can be accessed here and here.
Some bad news is crashing the festivities, with retail price inflation increasing by the highest amount since 2011, BT’s £633m Sport TV deal set to be kept hanging on the line by the Competition and Markets Authority and Singapore running out of its de facto national dish. Two million people in the UK are estimated to be suffering from long COVID. The FTSE All Share is trading slightly lower.
SHOWING WHAT WE CAN DO
Still, the world has its first raspberry-picking robot, while a Thai YouTuber is wowing the internet with a huge origami city and working train system made entirely of paper, and a computer programme designed to sort mice squeaks is also managing to detect whales in deep oceans. Cheese rolling is returning to the British sporting calendar. and Archie, a Welsh corgi just voted Britain’s most regal pooch, wears Union Jacks, loves biscuits and is said to wave like Her Majesty.