Shares up 7% after announcement as Jaime Gilinski Bacal seeks exit three years after helping to rescue bank Metro Bank is putting itself up for sale three years after its near-collapse, in a move that could hand a £420m windfall to its Colombian billionaire investor, Jaime Gilinski Bacal. Metro Bank made the rare decision to publicly announce it was open to bids on Thursday, paving the way for a wider pool of suitors. The announcement pushed the share price up by 7% by mid-morning, valuing the bank at around £1.3bn. Continue reading...
Metro Bank up for sale, with billionaire investor in line for £420m windfall
Source: The Guardian
Original reporting
The Guardian: read the full reportRelated stories
CNBC
Nebius falls 10% as company expects increased 2026 capex spend, issues weak outlook
Nebius' earnings report comes after fellow neoclouds IREN and CoreWeave showed better-than-expected results in the past week.
CNBC2 outlets
Scott Colom wins Mississippi Senate election over incumbent Republican Hyde-Smith
Scott Colom has won the U.S. Senate race in Mississippi. After a very close race, he's the first Black man to represent the state in the Senate in nearly 150 years.
The Guardian4 outlets
Nvidia board reportedly meets to decide CEO Jensen Huang’s future as chip giant’s share price plunges – follow live
Nvidia shares fall in pre-market trading after report of Huang’s second affair Nvidia board reportedly deciding whether to oust CEO Jensen Huang Too big – and too well-connected – to sack? Huang does not enjoy the supercharged voting rights that are par for the course elsewhere – his shareholding is a plain vanilla 3.6%. On the other hand, Nvidia’s board does not appear to have spent much time worrying about succession planning and “key person risk” or other standard concerns of corporate governance wonks outside the US. Continue reading...
The Guardian2 outlets
AI helped the UK defy expectations – but will Britain’s resilience fizzle out?
Despite John Healey’s defiance, the economy faces threats from a tech slowdown and energy bills this winter AI helps UK economy grow at fastest pace for more than two years The forecasters were clear when John Healey became chancellor in July: Britain’s resilience to the war in the Middle East would not last. The global economic headwinds were too strong, inflation was beginning to rise and growth would slow to a trickle. Four months into the job, the economy is continuing to defy expectations after growing by 0.7% in the third quarter – the fastest expansion in two and a half years – leaving the UK as the second-fastest growing G7 economy this year. Continue reading...
The Guardian
Burberry returns to profit as sales soar, from £85 socks to £9,000 coats
CEO says ‘democratic approach’ has helped brand outperform tough market, with big rises in China and US Burberry has returned to profit as its back-to-basics strategy drove strong sales of the British brand’s coats, jackets and handbags over the summer. Joshua Schulman, the chief executive, said the luxury brand had outperformed a “challenging luxury market” to achieve sales growth of 6%, helped by strong online and wholesale sales particularly in China and the US. “Our strategy is working,” he said. Continue reading...
CNBC
Nvidia stock falls 8% as investors await Jensen Huang’s fate
Nvidia's board met on Wednesday to discuss whether to oust Jensen Huang as CEO.