Deliveroo takeover agreed, ABF talks and northern start-up boom amid global inequality warning
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Deliveroo has agreed to a £2.9bn takeover offer by US delivery giant DoorDash. Shareholders will receive 180p per share in a deal backed by the Deliveroo board. The tie-up will create a delivery platform spanning more than 40 countries. The acquisition is expected to complete later this year, pending approval.
ABF talks and small businesses boom across the North: More Business in Brief
- Associated British Foods has confirmed it's in talks with private equity firm Endless. The discussions involve a possible deal linked to its struggling Allied Bakeries arm. ABF says no agreement has been reached and talks may not lead to a sale. It’s exploring strategic options as Allied Bakeries battles tough market conditions.
- New figures show a surge in small business launches across the North of England. GoDaddy research found 40 per cent of the UK’s fastest-growing start-up areas are in the North. Its UK chief says the Northern Powerhouse initiative appears to be paying off.
Donald Trump's tariff tirades and trade spats with China are making global business more difficult - no doubt about that. Half of April’s UK profit warnings cited fallout from the trade war. But let’s be honest: blaming America’s unpredictability is becoming a little too convenient for explaining why British firms, and more generally the British economy, are underperforming.
Today’s consumer confidence figures are the worst since 2022. Inflation might be easing on paper, but the cost-of-living crisis is still biting. Travel inflation alone is above 30 per cent, foreign holidays are slipping out of reach for many families. Food and energy bills are much higher than they used to be. Meanwhile, the Labour government has already lost the confidence it was handed. Its economic plan is incoherent at best, anti-business at worst. Last week’s local election bruising wasn’t just a warning - it was a verdict. People are already fed up with drift and decay.
Yes, choppy global conditions don’t help. But Britain’s economic stagnation wasn’t made in Washington. It’s time to stop hiding behind foreign headlines and start taking responsibility at home.
- Half of UK profit warnings last month blamed fallout from global trade tensions. An EY-Parthenon report says Trump’s tariff hikes and the China trade war are hitting company earnings. UK names like TT Electronics and Clarkson joined global giants in sounding the alarm. Firms issuing warnings saw share prices drop nearly 20 per cent on average.
- Global inequality is still claiming lives on a grand scale, the WHO has warned. A new report says targets to close health gaps by 2040 are now out of reach. Poor housing, education and work matter more to health than genes or care.
- And Consumer confidence in the UK economy has dropped to its lowest since late 2022. A Which? survey found nearly two-thirds of people think things will get worse before improving. Global events, rising prices and tax changes are driving the pessimism.
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