Financial Times - Nov 29
Nov 29 (Reuters) -The following are the top stories in the Financial Times. Reuters has not verified these stories and does not vouch for their accuracy.
Headlines
- St James's Place closes £1.8bn property funds and exits market
- Telegraph newspaper deal extended until end of year
- Aviva goes direct to Direct Line shareholders
- Net migration to the UK hit record 900,000 in 2023
Overview
- UK wealth manager St James's Place SJP.L is closing its 1.8 billion pound ($2.29 billion) property funds and exiting the sector after two decades due to "a challenging period", as some investment experts believe the market for open-ended property funds is "over."
- The sale of the Telegraph faces further delays after RedBird IMI gave Dovid Efune, the preferred bidder, until at least Christmas to raise the money to acquire a national newspaper that has been without a permanent owner for about 18 months.
- Aviva AV.L has contacted shareholders in Direct Line DLGD.L in a move that could pave the way for a hostile takeover bid for its smaller rival.
- Net migration to the UK exceeded 900,000 for the year to June 2023, the highest annual total on record, in what British Prime Minister Keir Starmer called a "complete loss of control" by the previous Conservative government.
($1 = 0.7873 pounds)
(Compiled by Bengaluru newsroom)
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