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As always, switching houses is a difficult task in itself. However, when it comes to moving to or from the heart of London, moving is a completely different beast.

It can often be overcrowded in the city or too noisy for any calm movements, especially during rush hours. However, with good preparation and utilisation of professional movers in Central London, your move can be as seamless and stress-free as a move in a quieter city.

Navigating Traffic in Central London 

Traffic jams are commonly associated with Central London, especially during peak periods when commuters flood into streets, leading to gridlocks. The number of vehicles can be a challenge for anyone whether they want to leave their flat at Covent Garden or move their office from the city of London to a quieter location because the streets become impassable. The narrow streets are always congested, no parking is allowed, and continuous road works can make it difficult for anyone who is planning to move from one place to another.

During peak hours of 7:30-9:30 AM and 4:30-6:30 PM, London’s roads turn into parking lots with long lines of slowly moving cars. Proficiency on these choked avenues is not just a matter of experience but also requires a lot of patience when driving hefty removal vans. It is for these reasons that so many people today opt for professional movers within Central London in order to move with as little trouble as possible.

The Importance Of Timing

Timeliness many times plays a very crucial role when carrying out any move within central London. Therefore moving in early morning hours or late night hours could be a better option because traffic may not be very heavy and although parking slots are limited, it is possible to find one without much hassle.

If moving at peak times cannot be avoided, then planning becomes very essential. This is because the longer it takes for you to get your items shifted, the higher chances there are that you will get caught up in traffic jams, most probably driving your stress levels up. You would need movers within central London who understand what goes on with the traffic as well as parking rules since they can help reduce delays ensuring that all runs well up to the new home.

Parking Issues

In some respects, parking in London can be an obstacle during relocations. There are many places where parking opportunities are limited, while the ones at hand usually have specific time limitations. In addition, one needs to consider whether they will be moving out of or into the congestion charge zone which contains much of central London. As such, when hiring a moving company this needs to be factored in the extra cost of the vehicle unless it’s part of the service offered by the moving company you have chosen to move with.

To avoid fines and ensure your removal van has somewhere to park, it’s often necessary to arrange parking permits in advance. Moving vans usually qualify for temporary licenses in some councils, which allow them to stay for some time in reserved areas. Your preferred movers located within central London will be helpful when looking for any permits necessary including possibly organising them so as to make it convenient for you.

Hiring Experienced Movers

Even though moving within Central London is not easy, hiring professional movers in the city can change that. A professional moving company that is well-versed with this area understands the shortest paths and the ways to dodge congestion hotspots and find public parking space. They’ll also advise you on when it’s best to move out of the city to escape from serious congestion.

Besides, experienced movers possess the required gear and know-how to relocate swiftly and safely. They will manage all heavy lifting activities including moving huge furniture pieces through small doors without any damage whatsoever on them while also ensuring that fragile items are well packed during transportation. With certified movers based in London, you don’t need to worry about the safety and efficiency of your goods during even congested hours of the day.

Preparing To Move

While professional movers will take care of most of the heavy lifting on moving day, there are various activities you can undertake to ensure a smooth move. To start with, begin planning in advance. Booking a date and time for moving that works best for both you and your movers can be achieved easily if you do so ahead of time because Central London is always busy.

In case you are moving during the peak hours remember to give yourself extra time. Nonetheless be able to add a few hours since whether due outstripped parking spaces, heavy traffic or partimes; delays will be inevitable. Always consider possible hitches when setting the timing for your move.

Packing Organisation 

Packing is one of the most time-consuming activities during relocation and if done well, can make a big difference on your moving day. So start packing early with things you will not require before moving, and pack up your essentials last. Label boxes clearly so that you and your packer can easily remember where everything belongs.

If the idea of packing is too much to handle, many removals firms in central London offer packing services, where experienced professionals will come to your home and pack your belongings for you. This way you save both time and effort especially if you have delicate items or valuables which demand special care.

Superiority of Local Knowledge

One significant advantage provided by professional movers within central London is their rich understanding with regard to that specific area. Knowledge from them tells when and where it’s safe for cars to pass through city streets during rush hours, thereby making relocation as seamless as possible during busy hours.

While it is certainly difficult to move around central London during peak hours, this can be manageable when you plan properly with support from seasoned pros. Hiring dependable movers in Central London ensures that everything goes fast and smooth thanks to their experience within such locations. Moving can be coordinated successfully regardless of how crowded the city is when there is good organisation and a supportive group around you.

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Coordinating a move in central London’s busy hours

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The Best PayPal Casinos in the UK

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Gambling has been one of the UK’s many favorite recreations for many years. But with the barrage of physical and mobile casinos available today, it might be quite tough to take your pick.

One factor you should consider is the payment methods offered. PayPal, a globally recognized online payment service, has become a popular option for lots of UK residents. The UK market in 2024 saw around 80% of online payments made using the platform. (1)

This guide will give you the top-rated PayPal casinos in the UK. We’ll take into consideration their features, so you’ll know which one fits your needs just right.

All British Casino

It has earned a solid reputation among UK players. Focusing on a classic British theme, this casino has many options, including slots and live games. From popular titles like Starburst and Gonzo’s Quest to classic favorites like blackjack and roulette, there’s something for everyone.

This casino also provides generous welcome bonuses and ongoing promotions to keep players engaged. Not to mention its customer support team is responsive and available to assist with any queries or issues.

But is it the best PayPal casino UK has to offer? That’s highly plausible. Aside from the variety of well-thought-out jackpot games, All British Casino processes fast payouts and other online casino transactions, usually within 24 hours.

Magic Red Casino

This one’s a vibrant online casino offering a magical gaming experience. With its selections of table games, slots, and live casino games, there’s always something new to discover. If you’re eyeing a huge welcome bonus and regular promotions, this casino could be for you.

It also values online security by using the latest 128-bit Secure Socket Layer (SSL) encryption technology. One recent survey revealed five out of nine respondents experienced cyberattacks while gambling online. But with Magic Red Casino’s security measures in place, you can rest knowing your private information stays private as you enjoy the games. (2)

Luckster Casino

Looking for more great PayPal casinos in the UK? Luckster Casino might be the lucky charm for online casino enthusiasts. Gaming with this platform is more stimulating thanks to its easy-to-use interface and collection of fun games.

Luckster Casino’s user-friendly interface and seamless mobile experience also make it an attractive option for mobile gaming.

Buzz Casino

Now, we’ve come to a buzzing hub of online casino entertainment. This option focuses on community engagement by building on its roots as one of the best PayPal casino sites in the UK. It has a unique social gaming experience, mixing bingo with other casino games. It’s ideal for players looking for a lively and interactive environment with secure payment processing.

Jackpot City Casino

Another platform to consider is Jackpot City Casino. It’s an online casino with progressive jackpots and a thrilling experience. You’ll never get bored with its array of games from premier software providers!

Jackpot City Casino is renowned for its refined Vegas-style activities. Players can access high-quality slot machines and a robust set of live dealer options, too. Its strong mobile platform is perfect for players who prioritize a positive online casino experience on smartphones or tablets.

BetMGM

Among the best options is BetMGM, an established online casino and sportsbook that offers many gaming options. From slots to sports betting, this platform has something for everyone.

Besides being another fantastic casino option that accepts PayPal deposits, BetMGM provides excellent customer service and prioritizes safe and secure transactions.

888 Casino

This is a leading online casino known for its innovative gaming platform and diverse game selection. It also keeps up with the times by offering online deposit options through a PayPal payment method, plus a welcome bonus for new players making their first deposit.

This award-winning platform is one of the best PayPal casinos in the UK and has been trusted for decades. It offers a comprehensive collection of exclusive games developed in-house alongside classic table games and slots. What’s more, its innovative live dealer games deliver an immersive, real-time gaming experience.

Tips for Choosing the Right PayPal Casino

When selecting UK casinos accepting PayPal, consider the following tips:

Prioritize reputation: Be careful when choosing to play in new PayPal casinos. Look for options with a solid reputation and a UK Gambling Commission license.
Consider game variety: The best online casino sites offer various exciting games that suit your tastes, like online slot games.
Take advantage of casino bonuses: Several online casinos offer welcome bonuses and ongoing promotions. Who doesn’t want free spin winnings or extra spins?
Value customer service: Choose a casino with a responsive customer support team. If they’ve got a live chat option, even better.
Test mobile compatibility: If you’re playing from a mobile device, ensure the casino is optimized for mobile gaming.
Examine payment options: Consider casinos and PayPal betting sites that offer alternative payment methods, such as online banking or a debit card.

Feel free to do your own research, too. Read reviews and explore the individual PayPal casino sites. Ensure that the platform also prioritizes player protection besides secure payments to avoid payment failure.

No matter your choice, practice responsible gambling. One study revealed that a total of 12.1% of gamblers from three groups played more intensely and might be at risk for gambling problems. (3)

Wrapping Up

The best Paypal casino site in the UK is, ultimately, up to your discretion. Just make sure to choose the right platform to enhance your online gambling experience and so you can make instant deposits without fuss. Withdrawal options are also worth considering.

With so many online casinos out there, you must scrutinize each one. Once you find one, gamble responsibly!

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The Best PayPal Casinos in the UK

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LHCM Broker: Full Trading Platform Review

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LHCM is an investment company that offers the EXANTE trading platform to clients in the UK. The trading platform offers investors access to over 50 markets and more than one million financial instruments that can be traded with a single account.

This LHCM broker review looks at the EXANTE trading platform, the pros and cons, and more.

LHCM LTD, through the EXANTE trading platform, serves professionals and eligible counterparties. EXANTE is a trademark owned by XNT LTD and licensed to several investment firms around the world, including LHCM.

LHCM operates under strict financial and ethical guidelines and is regulated by the Financial Conduct Authority (FCA) in the UK. This gives investors peace of mind about the safety of their funds and personal information. In addition, LHCM is GDPR compliant, adhering to stringent data protection laws and preventing the misuse of personal data.

Note that LHCM LTD does not currently accept customers who are classified as Retail.

With more than 1.6 billion in AUM and serving traders in more than 100 countries, EXANTE clients include private investors, wealth managers, and banks. The trading platform – available on the web, desktop, and mobile – offers financial instruments such as stocks, ETFs, options, futures, bonds, and funds.

Pros and cons

Here are some of the pros and cons of trading on the EXANTE trading platform, offered by LHCM:

Pros

Traders have access to over a million tradable financial instruments
Instruments include stocks, ETFs, funds, metals, bonds, and more
The fee structure is transparent
The trading platform is available on mobile, desktop, and web
The trading platform has access to over 50 markets

Cons

The minimum opening deposit for individual professionals is 10,000 EUR/GBP
There is a 30 EUR/GBP fixed withdrawal fee
At the moment it’s not possible to integrate third-party indicators on the terminal

EXANTE trading platform

The EXANTE trading platform offered by LHCM is available to traders on desktop, web, and mobile. It offers a range of trading options that are ideal for seasoned investors. Here’s a summary of the trading instruments available on the platform:

Stocks and ETFs: Access to over 30,000 stocks from global exchanges, as well as ETFs for all purposes. These ETFs allow for an added layer of diversification and a wider market exposure. Commission rates start as low as 0.01%.
Bonds: Trade thousands of bonds on the EXANTE platform and this includes access to government and corporate bonds. Fees start at 9 bps. Custody fees start at 0.3% per annum.
Futures: Robust futures trading capabilities with access to over 500 types of futures, including currency, oil, or indices futures. Access to global futures exchanges with fast execution speeds and real-time prices.
Options: Hundreds of thousands of options available on stocks, futures, and more. Traders can use options trading to capitalise on market movements.
Currencies: more than 50 currency pairs with live market spreads starting at 0.2 pips.
Metals: Trade in precious metals like gold, silver, and platinum. Low commission fees of 0.005% per trade.
Funds: More than 200 funds and access to the Hedge Fund Marketplace where investors can monitor real-time positions and invest with a single click.

Mobile

EXANTE’s mobile trading platform allows trailers to easily access tier accounts with a user-friendly interface and easy access to all financial instruments from a single account.

The app features real-time data and easy portfolio management. In addition to this, users can execute trades in just a few taps. The mobile app allows for comprehensive charting abilities and a range of time frames to use. Just like the desktop trading platform, the app focuses on security and uses two-factor authentication (2FA), among otters, to protect confidential information.

Web

The web trading platform from Exante is ideal for users who want to trade directly from their browsers without downloading and installing software. The platform allows for plenty of customisation as it has a modular structure and a very user-friendly interface.

The EXANTE trading platform incorporates stringent security measures such as data encryption and secure login procedures to ensure the protection of clients’ data and transactions.

However, one drawback worth mentioning is the fact that it doesn’t support custom third-party indicators, which may be somewhat limiting to some traders.

Desktop

For traders who are looking for a more comprehensive trading experience, EXANTE provides a desktop trading platform that offers a wide range of trading tools and features. The platform is equipped with advanced charting capabilities and an extensive range of technical indicators. It also boasts a modular design that allows for plenty of customisation.

There are many helpful modules for traders, including the Bond Screener, which allows you to find and filter bonds based on multiple criteria. You can customise the search results by adding or removing columns to filter the most important information.

Another helpful tool in trading is the Basket Trader module, which enables you to manage a portfolio of assets simultaneously. With this tool, you can buy or sell a group of financial instruments at once, and specify the number of units for each instrument. You have the option to choose the side of the trade, whether it is buying or selling.

The platform offers reliable trade execution, multiple chart types, and customisable workspace layouts. There are also drag-and-drop features and a quick search functionality. It emphasises security and implements advanced encryption protocols, as well as secure login requirements to help safeguard user data and transactions.

Fees

The minimum trading unit size varies depending on the instrument and EXANTE only charges fees for actual trades. The fees for ETFs and stock trading can vary depending on the exchange; e.g. on US exchanges, the minimum rate per share is USD 0.02, whereas on European exchanges, fees range from 0.2% up to a maximum of 0.18%. Fees on Asian exchanges range from 0.01% to 0,1927%.

On FX and short positions, there may be overnight fees applicable, which are constantly changing depending on the market conditions. Other fees that may apply include a 90 EUR fee for manual executions and an annual custody fee of 0.3% for bonds.

When it comes to shorting stocks, there is a fee of approximately 12% of the value of the transaction, calculated as an annual rate. There are no margin trading fees, as long as traders keep the margin utilisation rate below 100%.

Conclusion

EXANTE’s trading platform is perfect for experienced professional traders, wealth managers, and private investors. With the option of individual and corporate accounts and a wide selection of tradable instruments, EXANTE offers a reliable and robust trading platform with plenty of features.

DISCLAIMER:

This article is provided to you for informational purposes only and should not be regarded as an offer or solicitation of an offer to buy or sell any investments or related services that may be referenced here. While every effort has been made to verify the accuracy of this information, LHCM Ltd. (hereafter known as “EXANTE”) cannot accept any responsibility or liability for reliance by any person on this publication or any of the information, opinions, or conclusions contained in this publication. 

The findings and views expressed in this publication do not necessarily reflect the views of EXANTE. Any action taken upon the information contained in this publication is strictly at your own risk. EXANTE will not be liable for any loss or damage in connection with this publication. Costs mentioned herein are subject to change and may decrease or increase as a result of currency and exchange rate fluctuations.

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LHCM Broker: Full Trading Platform Review

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Wealthy investors are increasingly turning to start-up companies to mitigate their tax burdens, particularly as a potential capital gains tax (CGT) increase looms in the upcoming budget.

Investment in seed enterprise investment schemes (SEISs) surged by 250% between July 4 and September 16 this year, according to Wealth Club, with savers hoping to reduce their CGT liabilities by up to 50%.

The spike in SEIS investments coincides with government efforts to stimulate economic growth by encouraging investment in small British businesses. SEISs allow investors to put up to £200,000 annually into early-stage firms, providing significant tax advantages, including 50% income tax relief and exemption from CGT on any gains made from the investment. Crucially, they also offer 50% relief on CGT from the sale of other assets, such as buy-to-let properties, when reinvested in qualifying SEIS companies.

With CGT reform expected in the budget, investors are seizing the opportunity to benefit from the extended SEIS tax breaks, which were recently prolonged until 2035. A higher-rate taxpayer who reinvests a £100,000 gain into an SEIS fund could reduce their CGT bill from £24,000 to £12,000, while also securing £50,000 in income tax relief.

Nicholas Hyett of Wealth Club points out that high-net-worth individuals are increasingly using SEISs to shelter future gains from tax, given the likelihood of changes to CGT, inheritance tax, and pensions. “It’s no wonder wealthy investors are taking advantage of schemes that provide upfront tax relief while protecting future gains,” Hyett says.

However, SEIS investments carry considerable risk. While the tax benefits are designed to compensate for the high risk of backing start-ups, investors should be aware that around half of SEIS companies fail within five years. Nonetheless, successful start-ups like Swytch Bike, snack company Olly’s, and food supplement maker Hunter & Gather highlight the potential rewards.

In contrast, enterprise investment schemes (EISs) and venture capital trusts (VCTs) offer less generous tax relief, though they remain popular with wealthier investors. EISs allow for up to £1 million in annual investments with 30% income tax relief and deferred CGT, while VCTs provide tax-free dividends and CGT exemption, with investments managed through a fund to help spread risk.

These schemes are not for the risk-averse and should form only a small portion of a wider, more mainstream investment portfolio, experts advise. Jason Hollands of Evelyn Partners warns that while the minimum holding periods for tax relief are set at three years, exits from these private companies depend on finding a buyer, which is not guaranteed.

Despite the potential for high rewards, investors are also urged to consider the higher charges associated with SEIS funds. Fees can include an initial charge of 2.5%, along with management and performance fees that may add up over time. Investors need to carefully assess the risks and rewards before diving into these niche, high-risk schemes, where tax advantages alone should not drive decision-making.

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Wealthy investors flock to start-ups for tax breaks amid looming capital gains tax raid

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The introduction of national insurance on employer pension contributions could generate billions for the Treasury, according to Sir Steve Webb, a former pensions minister.

Webb, now a partner at LCP, suggests that this reform could raise up to £16 billion net per year and might be the most likely measure Labour Chancellor Rachel Reeves adopts to raise funds in next month’s budget.

Currently, employers pay no national insurance on pension contributions. If a tax at the standard rate of 13.8% were imposed, it could raise a gross £24 billion. Adjusting for the cost burden on public sector employers, such as the NHS and schools, the Treasury would still gain around £16 billion net. Even a lower rate of national insurance, around 2%, could generate a couple of billion pounds annually.

This proposal is seen as a politically viable option, as it avoids immediate impacts on employee pay packets. Webb believes that alternatives, such as reducing the tax-free lump sum for pensioners or introducing a flat rate of tax relief, would be far more difficult politically, especially as they could impact millions of public sector workers.

However, the proposal is not without controversy. Charging national insurance on pension contributions could anger employers, already facing rising costs from higher wages and interest rates. The move would also appear to clash with Reeves’s pro-growth agenda and might be perceived as a tax on jobs.

Webb’s analysis aligns with recommendations from think tanks like the Institute for Fiscal Studies and the Resolution Foundation, which have called for reforms to pensions tax relief, particularly as current policies tend to benefit higher earners. The Institute for Fiscal Studies has argued that there is a strong case for reform, highlighting how current tax relief policies disproportionately benefit wealthier individuals and employers.

With Labour seeking ways to repair the public finances while avoiding measures that would impact working families, this potential reform is seen as a way to generate significant revenue with minimal immediate political risk. The gross cost of pensions tax relief currently stands at £70.6 billion, but after tax is recouped from pensioners, the net cost to the Exchequer is about £49 billion. Even modest savings in this area could substantially benefit the Treasury’s tax and spending plans.

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National Insurance on employer pension contributions could raise billions for Treasury coffers

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Unloc and Verizon Business have announced the launch of the 2025 Young Entrepreneurs Challenge, an annual competition designed to uncover Europe’s brightest young entrepreneurial talent.

Open to 16-25 year-olds from across Europe, the challenge invites participants to submit technology-driven business ideas for a chance to win £10,000, expert mentorship, and a technology package to help launch their startup. The winner will also receive a ticket to the prestigious Global One Young World 2025 Summit in Munich.

Now in its seventh year, the challenge aims to inspire and support the next generation of business leaders. Finalists will present their concepts live to a panel of judges at the grand finale in March 2025. Applications are judged on criteria including business viability, technological innovation, and sustainability.

Sanjiv Gossain, General Manager and Head of EMEA for Verizon Business, emphasised the importance of helping young entrepreneurs bring their ideas to life. “Young talent in Europe often struggles to access the necessary funding and mentorship to turn their ideas into reality. This challenge is designed to bridge that gap and provide opportunities for young entrepreneurs to showcase their innovations on a global stage.”

Co-founder and CEO of Unloc, Hayden Taylor, noted that technological ideas are at the forefront of solving global challenges. “Investing in young minds with the potential to address issues like sustainability and healthcare is vital. Last year’s winner, Ethan Waisberg, with his app AngioGenius, demonstrated how cutting-edge technology can drive change, and we’re excited to see what this year’s entrants will bring.”

To apply, entrants must submit a 60-90 second video pitch along with an online application outlining their business idea. The deadline for applications is January 17, 2025, and full details can be found at youngentrepreneurchallenge.com

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Unloc and Verizon launch Young Entrepreneurs Challenge 2025 across Europe with £10,000 prize and mentorship

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In today’s hyper-connected world, cybercriminals are constantly evolving their tactics. One of the latest trends is the rise of Trojan Proxies, a hidden menace designed to infiltrate corporate networks.

Trojan Proxies work by secretly hijacking a company’s digital resources, using them to mask malicious activities, often without detection for prolonged periods.

Unlike traditional malware, which can be somewhat easier to identify, Trojan Proxies operate more covertly. These proxies use legitimate network connections to carry out illegal actions, such as launching Distributed Denial-of-Service (DDoS) attacks or distributing illegal content, while making it appear as though the actions are coming from the infected network itself. This poses a serious threat to businesses, especially when legal repercussions fall on the victim rather than the perpetrator.

For businesses, the consequences of falling victim to a Trojan Proxy are vast, ranging from reputational damage to financial losses due to fines and lawsuits. What’s more concerning is that smaller businesses, often without dedicated cybersecurity teams, are increasingly becoming targets for such attacks.

However, prevention is possible. Business owners and IT departments must adopt a proactive stance, ensuring they keep all systems and networks up-to-date with security patches and invest in advanced threat detection software. Regular audits of network activity can also help identify unusual traffic patterns that could indicate the presence of a Trojan Proxy. In addition, providing employees with ongoing cybersecurity training is crucial for mitigating risks.

As cybersecurity threats continue to diversify, Trojan Proxies represent yet another reason for businesses to stay vigilant. Protecting corporate networks now requires a layered approach, blending robust software solutions with strategic organisational policies.

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Trojan Proxies: a growing cyber threat businesses can’t ignore

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Dr Leah Totton, the 2013 winner of The Apprentice, and her business partner, Lord Alan Sugar, have secured a multi-million pound payout after selling a majority stake in their Botox and cosmetic clinic chain to Advanced Aesthetics Partners (AAP).

Dr Leah Clinics, which was co-founded by Totton and Sugar following her £250,000 investment win on the BBC show, has grown into a successful chain across London and Essex, offering treatments including non-surgical facelifts, injectable fillers, and skin treatments.

While the value of the sale remains undisclosed, the business is reportedly valued at over £7 million. Both Totton and Sugar, who each held a 50% stake in the company prior to the sale, will remain shareholders.

Dr Leah, a former NHS A&E doctor from Londonderry, Northern Ireland, reflected on her journey since entering The Apprentice as a 25-year-old with little business experience. She credited the show as a “life-changing opportunity” and expressed her excitement about the future growth of the brand under its new ownership. The deal also includes Dr Leah’s skincare line, launched in 2022.

AAP, which specialises in acquiring UK aesthetic clinics, plans to expand the Dr Leah brand further. This deal follows the successful sale of Climb Online, another business formed from The Apprentice, founded by 2014 winner Mark Wright, which sold for approximately £10 million in 2022.

Lord Sugar has previously benefited from another post- Apprentice success, having sold his stake in Tropic Skincare back to its founder, Susie Ma, a former contestant on the show, in a similar multi-million pound deal.

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Apprentice winner Dr Leah Totton and Lord Sugar secure multi-million pound payout after selling majority stake in cosmetic clinics

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Mike Ashley’s Frasers Group has made an £83 million takeover bid for Mulberry, one of the UK’s most iconic luxury brands, after being blindsided by a £10 million emergency share offer from the struggling leather goods maker.

The surprise bid offers 130p per share, representing an 11% premium on Friday’s closing price, with Frasers asserting that it is “the best steward” to return Mulberry to profitability.

Frasers, which owns Flannels and House of Fraser, already holds a 37% stake in Mulberry and has positioned itself as a rescuer of British brands. The company aims to avoid another “Debenhams situation,” referring to the collapse of the department store chain in 2019, which led to Frasers losing its £300 million stake. The takeover attempt will now set Frasers against Challice, Mulberry’s majority shareholder, which is controlled by the billionaire Ong Beng Seng and his wife, Christina.

Mulberry recently announced that it needed an urgent £10.75 million capital raise, underwritten by Challice, to shore up its balance sheet after a difficult year. The Bath-based business, known for its iconic Bayswater handbags, posted a £34 million pre-tax loss for the year ending in March 2024, after a 4% drop in sales to £153 million. The company’s auditor also flagged “material uncertainty” around Mulberry’s financial health in its latest annual report.

Frasers criticised Mulberry’s lack of engagement with shareholders over the rights issue, calling the status quo “untenable” for minority holders. Mulberry’s shares had slumped to around 100p on Monday before recovering slightly after the Frasers offer was revealed, closing at 124p.

Luxury brands globally have been hit by tough market conditions, with Mulberry’s sales further impacted by supply chain disruptions and weaker demand in China. Mulberry’s new CEO, Andrea Baldo, who joined in July after his predecessor Thierry Andretta was ousted, has pledged to stabilise the business by improving operational efficiency and targeting core UK markets.

Frasers’ bid marks a significant moment for Mulberry as it could see a shift from Ong’s long-term, discreet ownership style to Ashley’s more aggressive, high-profile approach. While the Ong family has carefully maintained Mulberry’s luxury status since 2003, Frasers’ acquisition could lead to expansion into more mainstream channels, raising questions about how the brand’s exclusivity would be preserved under Ashley’s ownership.

As the luxury market continues to evolve, Mulberry finds itself on the verge of a potential takeover battle that could reshape its future. The group’s financial results for the third quarter are expected on October 30, the same day as the UK government’s budget announcement.

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Frasers group launches £83m takeover bid for mulberry amid financial struggles

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Shares in Aston Martin Lagonda have taken a nosedive following a profit warning from its new chief executive, Adrian Hallmark, who has overhauled the company’s financial outlook for 2024.

The luxury carmaker’s stock dropped by 20%, reaching a two-year low of 127½p, after Hallmark revealed that supply chain issues had disrupted production of four recently upgraded models, causing the Warwickshire-based company to miss its targets for the year.

In a strategic adjustment, Aston Martin announced it would reduce its 2024 production volume to 6,000 cars, a 14% cut from its previous guidance of 7,000. The company cited ongoing supply chain disruptions and macroeconomic challenges in China as the primary reasons for the shortfall. The reduction in output is aimed at stabilising production in future quarters, though the company acknowledged it will not be cash flow positive in the second half of 2024, as previously promised.

Hallmark, who joined Aston Martin from Bentley and has been in his role for just a month, noted that the company’s ambitious plans for 2024 required near-perfect execution. “It has become clear that we need to take decisive action to adjust our production volumes for 2024 given a combination of supplier disruption and the weak macroeconomic environment in China,” he stated.

Aston Martin’s production has been particularly impacted by insolvencies at key German suppliers Recaro and Eissmann, which supply seats and dashboards. Sales of the Aston Martin DBX 4×4, one of the company’s top sellers, have also struggled in China, adding to the challenges.

Despite these setbacks, Lawrence Stroll, the billionaire chairman of Aston Martin and Formula 1 enthusiast who rescued the company nearly five years ago, remained optimistic. He reiterated his long-term commitment to the company’s turnaround plan, expressing confidence that Aston Martin will still meet its 2025 targets of £2 billion in sales and £500 million in underlying operating profits (EBITDA). However, Goldman Sachs forecasts that revenues in 2024 will fall 5% to £1.54 billion, with EBITDA down nearly 2% to £269 million. It also predicts a 25% increase in bottom-line losses, pushing the figure close to £300 million.

Barclays analyst Henning Cosman, who has long warned of the risks in Aston Martin’s profitability assumptions, said the latest profit warning was “disappointing” and reflected the company’s struggle to deliver on its ambitious 2024 plans.

Aston Martin’s third-quarter results are expected on October 30, coinciding with the UK government’s autumn budget announcement. Despite current challenges, the company is projecting a stronger performance in 2025, with Goldman Sachs forecasting revenues of £2.07 billion and EBITDA of £540 million, alongside a pre-tax profit of £20 million.

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Aston Martin shares slump after profit warning amid supply chain struggles

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