In today’s business live update, Anglo American firmly rebuffs BHP’s revised £34bn takeover offer, while UK housebuilding experiences a significant decline of 20%.
The UK economy stands at a turning point as output rises, but challenges persist amidst the rejection of BHP’s takeover proposal and the downturn in the housing sector.
1. Anglo American rejects BHP’s £34bn takeover bid, citing undervaluation and unattractive terms.
2. Anglo’s chairman criticises the offer as “highly unattractive” and emphasises the company’s focus on delivering strategic priorities.
3. BHP expresses disappointment over rejection, highlighting the potential value in combining the two businesses.
4. UK housebuilding slumps amidst adverse factors including high interest rates and adverse weather conditions.
5. Ultra-long mortgages surge, raising concerns about their impact on UK retirement prospects.
6. Jacob Rees-Mogg accuses the Bank of England of incompetence regarding inflation management.
7. The Great Resignation transitions into The Big Stay, indicating a shift in labour market dynamics.
