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21.07.26 - 16:18
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Defence shares rise after Andy Burnham appoints John Healey as chancellor (The Guardian)
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Babcock and BAE Systems benefit as markets hope former defence secretary will increase spending on sectorBusiness live – latest updatesShares in defence companies have risen sharply after Andy Burnham appointed John Healey as chancellor, prompting hope among investors of increased spending on suppliers to the military.Defence stocks were among the biggest risers on the FTSE 100 on Tuesday morning after the former defence secretary was announced as chancellor after markets closed on Monday. Babcock International rose 7%, BAE Systems was up 3% and Rolls-Royce increased nearly 2% on the FTSE 100. On the FTSE 250, QinetiQ rose nearly 4%. Continue reading......
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15.05.26 - 08:36
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Reform donor and crypto billionaire Christopher Harborne takes sixth place in UK rich list as wealthiest people grow richer – Business live (The Guardian)
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The UK's 350 wealthiest individuals and families now have a combined wealth of £784bn, Sunday Times reportsA new name has appeared on the Rich List Top Ten this year – Christopher Harborne.According to The Sunday Times Rich List, the Thailand-based investor's estimated wealth of over £18bn makes him the wealthiest British-born entrepreneur.Harborne, 63, has lived in Thailand for nearly 30 years. Many of his companies are based in countries where obligations to report profits, revenues and other financial information are less onerous than in the UK. This has long posed significant challenges for anyone trying to assess his personal fortune.His easiest to identify asset in the UK is his holding in QinetiQ, a Hampshire-based defence contractor listed on the London stock market and a member of the FTSE 250 index. Harborne is the biggest shareholder in the company, owning a 14.2 per cent stake that was worth £357 million when the Rich List was compiled. Continue reading......
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