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AstraZeneca is said to be weighing moving its stock market listing from London, where it is the exchange's most valuable company, to New York. Sir Pascal Soriot, who has been at the helm of the firm since 2012, is said to have spoken privately about his desire to abandon the UK listing in favour of the US. Shares rose almost 3% following the report in The Times. Ketan Patel, at investment group Whitefriars, an AstraZeneca shareholder, said a US listing would “provide the company with greater access to financing and also a wider and deeper shareholder base.”

 

The Daily Telegraph

The Times

City AM

The Guardian

Cybersecurity’s Crystal Ball: 10 Predictions You Can’t Afford to Miss

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In the first half of 2025, the number of global activist campaigns fell to 129, a 12% decrease from 147 in the same period last year, as economic and geopolitical uncertainties made investors more cautious. Jim Rossman, global head of shareholder advisory at Barclays, said: "The environment was shaped by mixed economic signals, fears about wars and geopolitical tensions." Despite the decline in campaigns, activist investors secured 86 board seats, a 16% increase, and settlements rose by 32% to 37. Most activity remained focused in the US, with 60 campaigns, while Europe saw 24 launched - a 17% decline. Japan saw 37 campaigns compared to 51 a year ago.

 

Reuters

City AM picks up on news first reported in the Financial Times that the Financial Conduct Authority (FCA) has warned bankers about leaks which have come alongside an increase in the amount of unusual trading activity shortly before the announcement of UK corporate takeovers. Data shows that 42 of the 110 mergers and acquisitions involving London-listed firms were reported in the media prior to any official statement between April 2024 and May 2025. The FCA said that it is "concerned" by strategic leaks, noting that they can "cause significant movement in share prices and trigger the improper dissemination of information, damaging the smooth operation and integrity of markets." The City watchdog has opened 33 investigations into potential market abuse since the start of 2020.

 

Financial Times

City AM

The Competition and Markets Authority (CMA) has cleared Aviva's £3.7bn takeover of Direct Line, a deal that creates Britain's largest home and motor insurer. The CMA, which began an initial investigation into the merger in May, said it would not refer the deal to an in-depth inquiry. The firms reached an agreement on the terms of the acquisition in December 2024. 

 

Reuters

The Times

Google has warned EU antitrust regulators that landmark rules under the EU's Digital Markets Act are holding back innovation to the detriment of European users and businesses. "We remain genuinely concerned about real world consequences of the DMA, which are leading to worse online products and experiences for Europeans," Google's lawyer Clare Kelly told a workshop organised by the European Commission. Another Google lawyer, Oliver Bethell, says he wants regulators to detail what the company needs to do. "If we can understand precisely what compliance looks like, not just in theory, but taking account of on the ground experience, we can launch compliant services quickly and confidently across the EEA," Bethell said.

 

Reuters

Standard Chartered Bank is facing a $2.7bn lawsuit over its alleged role in enabling fraud.  Liquidators who are seeking to recoup misappropriated funds from Malaysia's sovereign wealth fund 1MDB have filed legal proceedings in Singapore. Liquidators allege Standard Chartered Bank chose to overlook obvious red flags in relation to the transfer of funds, resulting in the losses. "According to this lawsuit, the transfers demonstrate serious breaches and control failings which ultimately enabled the theft of public funds by people operating at the highest levels of the Malaysian government during that period," they said.

 

Reuters

Marks & Spencer has announced a £300m investment to upgrade nearly 40 stores nationwide in an effort to regain customer trust following April's cyber attack. CEO Stuart Machin also confirmed that M&S aims to fully restore its online operations within four weeks and stabilise business by August. Meanwhile, M&S chairman Archie Norman said Machin’s pay for the current financial year would reflect the cyber attack disruption, although it was too early to say how his total package would be affected.

 

BBC News

The Daily Telegraph

City AM

Qantas is reaching out to customers following a cyber attack that targeted its third-party customer service platform, affecting the data of approximately 6m individuals. The Australian airline detected "unusual activity" on 30 June and says it has since taken "immediate steps" to contain the breach. While the full extent of the data theft is still under investigation, Qantas has assured that sensitive information such as passport and credit card details were not compromised.

 

BBC News

The Guardian

EU tech chief Henna Virkkunen plans to pool funding and expertise in quantum computing to build a competitive European ecosystem in a technology seen as key to future economic leadership.

 

Financial Times

Bank of England Governor Andrew Bailey has warned that firms are delaying investment plans due to global uncertainty, hindering the UK's economic growth prospects. In an interview with CNBC, Bailey said: "[An] increase in uncertainty and unpredictability is definitely coming through in terms of activity and growth." His comments come as the Office for National Statistics (ONS) revealed that UK business investment increased by 3.9% in Q1, revised down from a previous estimate of 5.9%.

 

City AM

Insurance Europe has welcomed the European Commission's review of the Cybersecurity Act (CSA), which is aimed at simplifying regulations for the insurance sector. The review, launched in April 2025, addresses the rapid evolution of technology and complex cyber threats, focusing on areas such as the EU Agency for Cybersecurity (ENISA) and the European Cybersecurity Certification Framework. Insurance Europe noted that the current regulatory landscape is a "patchwork of rules," leading to duplicate reporting for insurers. To enhance clarity, Insurance Europe calls for standardised reporting formats, an end to duplicate reporting, and consistent EU guidance to prevent conflicting national frameworks. The group also emphasised the need for legal clarity across the EU, particularly for cross-border insurers, and highlighted the importance of transparency in ENISA's processes.

 

Reinsurance news

John Flint, the chief executive of the National Wealth Fund, has criticised the banking industry’s risk appetite. He said that while the banking system is "very heavily regulated and in the best possible shape to take risk . . . it’s not doing it," adding: "We shouldn’t be surprised we’re not growing; we’re not taking the risks." Flint, the former CEO of HSBC, also warned that he is "increasingly less optimistic" about the National Wealth Fund’s ability to finance net zero ambitions, pointing to the "incredibly rigid" organisation of the private sector’s risk appetite.

 

City AM

Santander UK has acquired TSB from Banco Sabadell in a £2.9bn deal. The acquisition will add five million customers, £34bn in mortgages, and £35bn in deposits to Santander's portfolio, resulting in a combined customer base of 28m. Santander UK said the deal would make it the third largest UK bank in terms of personal current account deposits, behind Lloyds and NatWest. The deal is expected to close in the first quarter of 2026, pending regulatory approval. The tie-up has raised fears for staff and customers of job cuts and branch closures, The Guardian notes.

 

Sky News

BBC News

Financial Times

The Times

The Guardian

Silicon Valley startup Lyten has announced its acquisition of Northvolt Dwa ESS, Europe's largest energy storage systems factory, following Northvolt's bankruptcy earlier this year. Lyten plans to restart operations at the Gdansk facility, which has a manufacturing capacity of up to 6 gigawatt-hours and the potential to expand to 10 GWh, to fulfil existing and new customer orders. The financial details of the transaction, expected to close in the third quarter, have not been disclosed, but Lyten's CEO emphasised the company's commitment to revitalising the facility.

 

Reuters

Over the past decade, nearly 8,000 high-growth UK businesses have opted to sell, with acquisitions dominating the exit landscape, according to analysis by investment management firm Charles Stanley. The last two and a half years have seen almost 40% of exit activity, while the peak occurred post-pandemic, with 1,110 acquisitions. Cliadhna Law, head of direct and professional sales at Charles Stanley, said acquisitions "remain the dominant form of exit."

 

The Times

Dutch banking giant ING is planning job cuts focused on senior staff, saying there are just too many of them. The lender wants to eliminate 230 roles across its wholesale banking division, according to a statement. The cuts “will be focused on Directors and Managing Directors in commercial, front office roles” as ING has “too many senior roles,” the bank said, adding that the cuts will be split proportionally across its locations.

 

Bloomberg

The UK government has set a new timeline for the Employment Rights Bill, pushing back several reforms by a year. Day-one protection against unfair dismissal, which was due to come into force next year, has been delayed until 2027, as has guaranteed flexible working and a ban on "exploitative" zero-hours contracts. Ministers say the roadmap will give businesses the "clarity and certainty they need to plan, invest and grow."

 

BBC News

City AM

Daily Mail