The fortunes of the richest people in the U.K. rose at a record pace last year, with the 1,000 wealthiest experiencing a 30 percent increase in their net worth, according to the annual Sunday Times Rich List.
Hedge fund Eton Park Capital Management LP raised its stake in YPF SA while billionaire George Soros sold in the first quarter before Argentina took control of the oil producer, causing the stock to plummet.
Piedmont Inc.’s possible offer to buy Mitchells & Butlers Plc, the U.K. owner of the All Bar One pub chain, for 230 pence ($3.63) a share is “insulting” to shareholders, David Cumming, head of U.K. equities at Standard Life Investments, said today.
Mitchells & Butlers Plc, the U.K. owner of the All Bar One pub chain, said sales growth at outlets opened at least a year grew 2.7 percent in the 51 weeks to Sept. 17 and the consumer environment remains “challenging.”
U.K. stocks fell from a two-month high, led by a selloff in mining and financial companies, after Chinese export growth slowed and Fitch Ratings downgraded Lloyds Banking Group Plc and Royal Bank of Scotland Group Plc.