UK online trading provider and FTSE 100 constituent
AstraZeneca has been linked to talks with Bristol Myers Squibb on a potential mega-merger. Reports say talks are ongoing and could form one of the industry’s largest deals, but regulatory hurdles and integration risks loom large.
S&P Global’s manufacturing PMI for Britain has fallen from the flash reading but remains above 50, signaling expansion in July. Output growth is the strongest since September 2024, while input costs have cooled. The data covers July 9-28 and follows a US-Iran truce breakdown and a Yemeni naval blockade that pushed oil above $100.
Global markets have steadied as US retail data suggests consumer spending is softer while inflation trends remain in check. Traders are watching for Federal Reserve guidance as major indices hover near records after a week of mixed signals across equities, bonds and currencies.
Shein has launched a Hong Kong IPO seeking HK$13.86bn by selling 280m shares at HK$47.60–HK$49.50 each, valuing the company at about $27bn at the top of the range. The fast-fashion retailer has seen its private-market value fall about 70% from its near-$100bn peak and says proceeds will fund technology and international expansion.
Large-scale drone attacks have intensified between Ukraine and Russia. Ukrainian strikes have hit multiple Russian oil refineries and transport hubs, while Russian strikes have hit Ukrainian cities; both sides report civilian deaths and infrastructure damage. U.S. President Donald Trump has publicly urged Kyiv to stop targeting diesel facilities as diesel prices hit record highs.
The ONS has reported that public sector net borrowing reached £18.3bn in August, above City and OBR forecasts, leaving year‑to‑date borrowing at £77.3bn — £8.1bn higher than the Office for Budget Responsibility expected. Higher inflation and rising debt interest have pushed interest payments to record August levels and narrowed Chancellor John Healey’s fiscal headroom before the 28 October Budget.