Gavin Lumsden

The new fund manager of Baillie Gifford European Growth #BGEU, Joe Faraday, has wasted no time in changing nearly a third of the badly underperforming trust’s stocks since the end of March.

SpaceX is aiming to go public on June 12, setting the stage for what is expected to be the biggest IPO of all time. on.wsj.com/4dLZBxd

Pershing Square #PSH fund manager Bill Ackman takes $2.1bn stake in Microsoft #MSFT, Bloomberg reports, after posting that he had done by selling a position in Alphabet #GOOGL on valuation grounds.

Lloyd’s of London insurer Hiscox #HSX leaped 13% after Insurance Post reported that Canada’s Intact Financial Corp was exploring a possible takeover approach. theguardian.com/business/2026/…

Shares in Magnum Ice Cream Company jumped 21% before subsiding on reports that private equity predators Blackstone and CD&R were circling the Ben & Jerry's owner spun out of Unilever in December. thisismoney.co.uk/money/markets/…

30yr gilt yields leapt from 5.65% to 28yr high of 5.86% in response to global inflation fears & reports Kier Starmer would resign if Andy Burnham wins Makerfield by-election expected on 18 June, anniversary of Napoleon’s defeat in 1815 Battle of Waterloo. telegraph.co.uk/politics/2026/…

UK landlord Land Securities #LAND said occupancy levels are at a 20-year high and posted stronger than expected growth in rental income in its latest results. @FT ft.com/content/ffd495…

Hargreaves Lansdown is cutting jobs as it moves away from some manual functions, part of a plan by its private equity owners to modernise the UK’s largest DIY investment platform and fend off intensifying competition. @FT ft.com/content/accab7…

Revolut, the neo bank backed by #SMT, #INOV & #GROW among others, is planning to launch a private bank and has been given a license to provide complex products as it looks to expand its appeal among wealthy customers. @FT ft.com/content/4cb8fd…

The private hospitals group Spire Healthcare is in talks with Toscafund over a possible acquisition worth about £1bn, in the latest twist in the takeover saga. thetimes.com/article/732aa1…

A furious row has broken out between the winding down Aquila European Renewables #AERI and Aquila Capital with Robert Naylor, the fund’s activist chair, accusing its fund manager of welching on a proposed sale of around half its portfolio. quoteddata.com/2026/05/aquila…

James Carthew @quoteddata calls for “end game” of 3i’s investment in Action. “It is so dominant within the portfolio that it feels like everything else is a rounding error ... Perhaps the best plan would be to spin Action out as a separate listed company.” quoteddata.com/2026/05/3i-gro…

A sharp sales slowdown at Dutch discount retailer Action dealt another blow to Britain’s oldest private equity firm 3i Group. #III shares fell 15% to a 20-month low prompting a £750m buyback programme, 3i’s first in 21 years. thetimes.com/article/1579ad…

Big move by Labour MP Josh Simons who is giving up years of service for his valuable parliamentary pension and his Makerfield seat to make way for “rock star” Manchester mayor Andy Burnham. #post" target="_blank" rel="nofollow noopener">bbc.co.uk/news/live/cwy2…

Finsbury Growth & Income #FGT rallied 6.1% in April helped by market@rebound & EQT’s bid approach for Intertek, but still down 4.8% ytd. Fund manager Nick Train pleased UBS removed London Stock Exchange, his top 12.8% holding, from its list of “AI losers”. londonstockexchange.com/news-article/F…

Half-year results from Schroder Income Growth #SCF show fund manager Sue Noffke sold out of 3i Group #III. SCF follows JPMorgan Claverhouse #JCH and Patria Private Equity #PPET who also sold down their stakes in the private equity giant in recent weeks. citywire.com/investment-tru…

Lowland #LWI fund managers James Henderson & Laura Foll have lifted undervalued small & mid-cap stocks to nearly two thirds of £372m UK equity income trust, according to AIC data @aicpress. They generally aim to hold half in companies outside the FTSE 100 quoteddata.com/2026/05/lowlan…

The Association of Investment Companies @aicpress is disappointed that the government did not include a Bill of Shareholder Rights proposed by the Digitisation Taskforce in the King’s Speech.

And Angela Rayner has been cleared by HMRC of deliberate wrongdoing or carelessness over her tax affairs, the @Guardian reveals, paving the way for a potential leadership bid as Keir Starmer’s grip on power unravels. theguardian.com/politics/2026/…

Afzal Khan, Labour MP for Manchester Rusholme, is prepared to step down to let Andy Burnham return to Westminster & challenge Sir Keir Starmer. Khan, a former lord mayor of Manchester & MEP, is waiting for health secretary Wes Streeting to launch his bid. thetimes.com/article/b9f9e8…