Markets jittery over Omicron as Opec+ meets; UK household wealth soars – business live | Business

Date:





8.30am EST08:30

UK household wealth soars on back of rising house prices and savings

Updated
at 8.56am EST





8.04am EST08:04

Brazil falls into recession





7.30am EST07:30





7.06am EST07:06

Ad boss Martin Sorrell criticises lack of masks guidance as events cancelled

Advertising boss Sir Martin Sorrell has said clients are cancelling Christmas events in response to Omicron, and criticised the UK government for failing to give sufficient guidance on masks.

Sorrell, the executive chairman of S4 Capital and the founder and former chief executive of WPP, said event cancellations had gathered pace since the new Covid variant was identified.

Sorrell told BBC Radio 4’s Today programme.


“What we are seeing our clients doing and other people [doing], the answer is they are … cancelling,”

“There has been quite a sharp series of cancellations since this happened just three, four, five days ago.”

Boris Johnson, who is embroiled in a controversy over Christmas parties at Downing Street during lockdown last year, has urged people not to cancel festive parties or nativity plays.

But, business minister George Freeman says his department won’t have a big party this year. His parliamentary team will have a Zoom gathering, due to the omicron variant, he told Times Radio.

Times Radio
(@TimesRadio)

Business minister George Freeman tells Times Radio his department won’t have a Christmas party this year because of the tightening of restrictions over the Omicron variant.@AasmahMir | @StigAbell | @GeorgeFreemanMP pic.twitter.com/BcGhvHjUs4


December 2, 2021

Tom Newton Dunn
(@tnewtondunn)

BEIS has cancelled its Christmas party, and George Freeman’s Commons staff are holding theirs on zoom. So even ministers are ignoring the PM’s press conference advice on Tuesday to carry on with festivities? https://t.co/X8OP7sXmM9


December 2, 2021





6.46am EST06:46





6.14am EST06:14





6.03am EST06:03

Lord Rothermere has upped his bid to take the publisher of the Daily Mail, i, Metro and New Scientist private to try to win over investors who believe he is significantly undervaluing the business.

The family, which founded the Daily Mail in 1896 and listed the parent company, Daily Mail and General Trust (DMGT), on the stock market in 1932, has upped its offer to 270p a share, valuing the newspaper business at £885m including debt.

The previous offer of 255p a share, valuing the business at £850m, prompted two top 10 shareholders – Majedie Asset Management and JO Hambro Capital Management, which control or advise on shares accounting for a combined 10.2% of DMGT – to publicly criticise the offer as woefully undervaluing the assets.

Rothermere, who has struggled to win acceptance of the deal from shareholders, has also changed the terms, so the family now needs only 50% approval from investors to delist. Those unwilling to sell will be offered shares in the private company.

More here:





6.01am EST06:01





5.39am EST05:39

Eurozone unemployment drops, but producer prices surge





5.09am EST05:09

Updated
at 5.18am EST

Markets jittery over Omicron as Opec+ meets; UK household wealth soars – business live | Business Source link Markets jittery over Omicron as Opec+ meets; UK household wealth soars – business live | Business

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