Closing post
Time to wrap up.
Shares in gambling company Evoke have jumped by 14% after it has said it is considering a sale or breakup of the group, after warning of a £135m hit from tax increases announced in last month’s budget.
Evoke, which owns William Hill and the 888 online casino brand, told the stock market it has appointed bankers at Morgan Stanley and Rothschild to explore potential options to secure its future.
The decision comes only four years after the business, then known as 888 Holdings, paid £2.2bn to buy William Hill’s network of 1,400 bookmakers, in an unexpected foray into bricks-and-mortar betting.
Elon Musk’s space exploration company SpaceX is preparing to list on the stock market next year in a move that could raise more than $25bn (£19bn) and value the business at more than $1tn, according to reports.
SpaceX, which designs, builds and launches rockets, is said to have started discussions with banks about an initial public offering (IPO). It could join the stock market in about June or July, according Reuters, which cited an unnamed source familiar with the matter.
A flotation could rival the market value that the oil company Saudi Aramco achieved during its listing in 2019, which remains the biggest in history. It raised $29bn at the time, at a valuation of $1.7tn.
Rachel Reeves has condemned leaks before her make-or-break budget as “unacceptable” as she revealed her income tax U-turn was agreed in partnership with Keir Starmer.
Defending her tax and spending plans before MPs on the Commons Treasury committee, the chancellor said she had been frustrated by “leaks that were clearly not authorised” before her November speech.
“I want to reiterate in the strongest terms that leaks are unacceptable,” she said. “The budget had too much speculation, there were too many leaks, and much of the leaks and speculation were inaccurate. [It was] very damaging, as well as the IT security issues.”
Tbe silver price has hit a record high, lifted by fears of supply shortages amid rising demand.
The chief executive of the Office of Rail and Road (ORR) is stepping down in April 2026.
Switzerland: Lower US tariffs effective from 14 November
The lowering of U.S. tariffs on Switzerland to 15% from 39% will be effective retroactively from 14 November, the Swiss government has announced.
That’s a relief to businesses that had been saddled with the highest U.S. duties in Europe.
In a statement, the Swiss Economy Ministry said that with the U.S. tariff ceiling now at 15%, trade-weighted U.S. tariffs on Switzerland will fall by around 10% on average, improving access to the U.S. market for Swiss firms.
It said:
“The competitiveness of Swiss companies will also be strengthened, as they will once again enjoy similar conditions on the U.S. market as companies from the EU or other U.S. trading partners with a similar economic structure.”
14 November was the day when Donald Trump agreed to cut US tariffs on Switzerland from 39% to 15% as part of a new trade pact.
