Important information: The value of investments can go down as well as up so you may get back less than you invest. Investors should note that the views expressed may no longer be current and may have already been acted upon. This is a third-party news feed and may not reflect Fidelity’s views.
(Sharecast News) - Rishi Sunak and former Prime Minister Boris Johnson are on a collision course over the former's plans to overhaul the post-Brexit arrangements as pertain to Northern Ireland. It is understood that Johnson is worried that a successful push by Sunak would become an obstacle to the government's ability to rip up some of the Brexit arrangements in the region. Keir Starmer on the other hand told the Observer that his party would support a vote in Parliament on the agreement. - Observer
US hedge fund Elliott has joined the £5bn bidding war for Manchester United in an eleventh hour move, on Friday, just before the expiry of the deadline to submit bids. According to sources, Elliott had ruled out a possible full takeover, but had offered financing for a possible acquisition. The details of the proposal were not clear but may include the hedge fund taking a stake in Manchester United or financing the debt for the deal. - Sunday Times
Home REIT is likely to face fierce criticism from its shareholders when management meets with them at the start of the week. A succession of crises has led some critics to suggest that the company may be facing a 'Southern Cross moment', in reference to the care home outfit that succumbed a decade before following a stint under private equity ownership. In an unusual move, media have been barred from its annual meetings, although its major shareholders, including M&G, BlackRock and Legal & General, were expected to be in attendance. - Financial Mail on Sunday
Veteran investor Bill Currie has thrown his weight behind Sosandar in what amounts to a vote of confidence for the online fashion retailer. Currie, once a star analyst in the City, was an early backer of the company's rivals, including Asos, Boohoo, and THG. The investor and his family have built up a £2m stake over the past year in Sosandar and participated in a recent cash call from the £58m company. Sosandar has inked online partnerships with Next, John Lewis, and Marks & Spencer and has posted a profit in each of the last five quarters. - Financial Mail on Sunday
Pawnbrokers, once mainly inhabitants of seedy back alleys, are now thriving in middle-class havens as a result of the cost-of-living crisis, including in Harrogate and north Yorkshire. There is now even one in the City of London that caters to traders disappointed with their bonuses. People are pawning everything from Rolex watches to Rolls-Royce cars, sometimes even to finance private school fees. Listed pawnbrokers such as H&T and Ramsdens have seen their share prices surge over the past year.
