(Bloomberg) — Here’s the key business news from London-listed companies this morning.
Darktrace Plc: Demand for the cyber security company’s products is strong as companies seek to protect themselves against growing cyber threats.
- That momentum is expected to continue into next year against a “turbulent geopolitical background”
Wise Plc: The average cost of transfering money with the fintech company was flat quarter on quarter, with costs from greater risk and uncertainty in the macroeconomic environment offsetting reduced fees in some areas.
- For the first time, half of the company’s cross-border money transfers were completed instantly
Informa Plc: The business intelligence and academic publishing company has bought Industry Dive for an initial cash consideration of $389 million.
- Industry Dive provides specialist “B2B” content across industries like BioPharma, Construction and Cybersecurity
Jobs Data: British workers rejoined the labor market at the fastest pace since before the pandemic as the cost of living crisis drew more people into jobs, according to data released this morning
Outside The City
Tory MPs will vote for a fourth time today in the contest to elect Boris Johnson’s successor after the latest ballot left Sunak looking almost certain to make the top two. The battle for second is less certain.
Meanwhile, chancellor Nadhim Zahawi will pledge a “coherent and agile approach to financial regulation” in a major speech today, as the UK continues to develop its post-Brexit plans for the City.
In Case You Missed It
SoftBank Group Corp. has temporarily paused talks about listing shares of its chips division, Arm Ltd., in London because of turmoil in the UK government, while it continues to pursue an initial public offering for the business in New York, people familiar with the matter told Bloomberg.
And temperatures in the UK are set to hit a record today, most likely exceeding 40 degrees Celsius across eastern England, breaking the previous record of 38.7°C set at the Cambridge Botanic Garden in 2019, according to the Met Office.
Looking Ahead
Royal Mail Plc is set to publish results tomorrow as the postal service faces a possible strike by managers across the UK over job and pay cuts. Miner Antofagasta Plc is also on Wednesday’s earnings calendar, with an expected update on production numbers.
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