BUSINESS: GDP growth in August but recovery slowing; UK plans rate hike in December amid IMF inflation warning; Private equity sharks encircle Glaxo unit
The Bank of England is now expected to raise interest rates from 0.1 percent to 0.25 percent in December and then to 0.5 percent in March, undoing forecasts that did not predict a rate hike until next year.
It follows a warning from the International Monetary Fund on Tuesday urging central banks to be “very, very vigilant” about the threat of rising inflation.
Private equity groups are planning a nosedive on Glaxosmithkline’s consumer arm in what may be the largest buyout industry takeover of all time.
The circling predators have valued the pharmaceutical giant’s consumer business, which owns brands like Aquafresh toothpaste and Otrivin nasal spray and is being spun off from GSK by managing director Emma Walmsley, at Â£ 40 billion or more.
Pub operator Marston’s saw sales surge above pre-pandemic levels in the fourth quarter as Brits flocked to the pub in warm weather and summer sports tournaments.
The brewer, nearly 200 years old, said the pubs’ total sales were Â£ 402 million for the year.
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Pressure is mounting on the Bank of England to raise rates early to combat rising inflation