Sunday newspaper round-up: Revolut, Brexit, Chinese subsidies
By Alexander Bueso
Date: Sunday 23 Jun 2024
(Sharecast News) - Revolut is aiming for a £32bn at an upcoming share sale. If it succeeds the fintech start-up's valuation would surpass that of NatWest. According to the Financial Times, the firm is looking to sell approximately £395m in order to finance its expansion. - The Financial Mail on Sunday
Should he win the elections, the Labour government will be left with no other choice but to reenter the European Union's single market and customs union if it wants to maximise the country's economic growth, leading economists and diplomats have said. In parallel, a poll by Opinium for the Observer found that 56% of voters think Brexit was bad for the economy, versus 12% who believe the opposite. Labour meanwhile has taken its lead over the Conservatives to 20 points with under a fortnight left to go before polling day - Guardian
Trade ministers from China and the European Union have reached a last-minute agreement to engage in talks aimed at avoiding a tit-for-tat trade war. The talks will centre around Brussels's plans to raise tariffs on electric car imports from the Asian giant by up to 48%. The EU's planned move was in response to Chinese subsidies for its EV industry. The talks would follow a three-day visit by German economics minister, Robert Habeck, to Beijing. - Sunday Telegraph
Pepsi has given the go-ahead to Carlsberg's £3.1bn takeover bid for Britvic. Executives at the US outfit told the Danish beermaker that they would not make use of their so-called poison-pill which could allow them to stop the purchase. Carlsberg has already disclosed that it made two separate approaches for Britvic earlier in June. A third improved offer is being prepared and may arrive as soon as during the coming week. - The Sunday Times
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