Sunday newspaper round-up: Investment trusts, LSE Group, Thames Water
London Stock Exchange Group
11,320.00p
16:34 20/12/24
Some of London's biggest investment trusts are looking at the possibility of moving to Switzerland in order to dodge rules that make them overstate how much they charge clients. Under leftover EU rules, UK-listed investment trusts disclose charges that are far higher than what investors pay in reality. The news follows enormous drops in value since 2022, when the rules came into effect, according to data from AJ Bell. - Financial Mail on Sunday
Financial Services
17,575.58
17:14 20/12/24
FTSE 100
8,084.61
17:04 20/12/24
FTSE 350
4,463.29
17:14 20/12/24
FTSE All-Share
4,421.11
17:04 20/12/24
Plans to double London Stock Exchange Group boss David Schwimmer's pay from £6.3m to £13.2m is wrankling shareholders. The exchange operator says the increase is necessary due to the company's transformation into a technology company and the attendant need to compete globally for the best talent. Leading figures in the City have argued that the inability to secure larger pay deals is one of the factors driving international companies to avoid London listings. - The Sunday Times
Faced with the threat of nationalisation, Thames Water is looking at the possibility of breaking itself up. The radical plan is but one of several options being analysed as the company looks to remedy its dire financial situation after accumulating an £18bn debt pile. Under the proposal, Thames Water would be split in two, with one company serving London and the other the Thames Valley and Home Counties region. - The Sunday Telegraph
More strikes should be expected within month, drivers' union Aslef has warned before a third day of disruptions amid an already ongoing dispute. The union was set to start talks this month about future pay increases but failing a deal it would launch industrial action. Aslef secretary general Mick Whelan said that further industrial action was likely. - Guardian