Chancellor John Healey told MPs on Wednesday that the government would retain stamp duty on share trading but pledged to modernize the tax, drawing criticism of a "missed opportunity" to revive interest in the London Stock Exchange.
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TOP NEWS

Healey Looks To Simplify But Not Abolish Shareholder Taxes

By Najiyya Budaly

Chancellor John Healey told MPs on Wednesday that the government would retain stamp duty on share trading but pledged to modernize the tax, drawing criticism of a "missed opportunity" to revive interest in the London Stock Exchange.

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Engineering Biz Snaps Up Cabling Co. For Up To £50M

By Irene Madongo

Engineering services company Renew Holdings said Wednesday that its network infrastructure firm has acquired the owner of a power cabling provider for up to £50 million ($66.5 million), continuing its buying spree.

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Amersi Says BBC Lacks Evidence Of Corrupt Telecoms Deals

By Ronan Barnard

A prominent political donor and businessman argued at the start of a London trial Wednesday that the BBC had falsely accused him of being involved in corrupt business dealings in three different countries, saying the broadcaster's case that the allegations were true was "plainly not sufficient."

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M&A

French 3D Printing Biz To Sell Dental Division For €10.3M

By Dawood Fakhir

French 3D printing company Prodways said Wednesday that it has agreed to sell its dental materials business for €10.25 million ($11.4 million) as a part of its strategy to streamline its 3D-printing technology unit.

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Brief

Insurance Investor MBP Takes Stake In £32M Premium Broker

By Irene Madongo

Insurance sector investor Minority Broker Partnerships said Wednesday it has acquired a minority holding in Caleb Roberts Insurance Services, its seventh investment in 12 months.

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Brief

Software Co. Buys Overpayment Audits Biz For Up To £2M

By Irene Madongo

Software company TruFin said Wednesday that its subsidiary Oxygen Finance Group has acquired an overpayment audits business for up to £2 million ($2.66 million) to expand its offering to customers.

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CAPITAL MARKETS

Brief

Materials Distributor Valued At €1.8B In Frankfurt Debut

By Irene Madongo

German materials distributor tk accelis on Wednesday began trading on the Frankfurt Stock Exchange, a move it said marks the completion of its spinoff from local industrial and technology business thyssenkrupp AG.

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MERGER REVIEW

Netherlands Blocks Unilever Deal To Unload Dutch Brand

By Dawood Fakhir

The Dutch competition regulator has decided to block the sale by multinational consumer goods giant Unilever PLC of Dutch brand Unox to Zwanenberg, almost two years after the deal was announced.

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EXPERT ANALYSIS

How Employment Ruling Limits Buyer's Inherited Tort Liability

The Court of Appeal’s ruling that a psychiatric hospital did not inherit vicarious liability for alleged staff abuse of a patient under previous owners will have immediate practical consequences as third parties seek to use protections meant for employees at workplaces changing hands to pursue buyers as substitute defendants, say lawyers at CMS.

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LAW FIRMS IN TODAY'S NEWS

Bristows LLP

CMS Cameron McKenna Nabarro Olswang

Candey Ltd.

Clifford Chance

Doughty Street Chambers

Essex Court Chambers

Jones Day

K&L Gates

Matrix Chambers

One Essex Court

Outer Temple Chambers

COMPANIES IN TODAY'S NEWS

British Broadcasting Corp.

Credit Suisse Group AG

Euronext Amsterdam NV

KPMG International

London Stock Exchange Group PLC

UBS Group AG

Unilever PLC

GOVERNMENT AGENCIES IN TODAY'S NEWS

UK Court of Appeal

UK High Court