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BUSINESS LIVE: GDP growth in August but the recovery is slowing; UK plans to hike rates in December amid IMF inflation warning; Private equity sharks surround the Glaxo unit
The Bank of England is now expected to raise interest rates 0.1% to 0.25% in December, then to 0.5% in March, reversing forecasts that predicted a rate hike would take place that next year.
This follows a warning Tuesday from the International Monetary Fund, which urged central banks to be “very, very vigilant” to the threat posed by soaring inflation.
Private equity groups are preparing a coup on the consumer arm of Glaxosmithkline in what could be the biggest takeover ever by the buyout industry.
Predators circling have valued the mainstream business of the pharmaceutical giant, which owns brands such as Aquafresh toothpaste and Otrivin nasal spray and is spun out of GSK by chief executive Emma Walmsley, at £ 40bn or more.
Pub operator Marston’s saw sales surpass pre-pandemic levels in the fourth quarter, as warm weather and summer sports tournaments saw Britons flock to the pub.
The nearly 200-year-old brewer said total pub sales amounted to £ 402million for the year.
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The Bank of England is under increasing pressure to raise interest rates early in order to fight rising inflation
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