Financial Shake-Ups and Strategic Moves: UK's Shifting Economic Landscape
The Financial Times highlights significant shifts in the UK's financial and scientific sectors. Legal & General expands its private assets by acquiring a majority stake in Proprium Capital Partners. The UK regulates 'buy now, pay later' lenders, and seeks enhanced food trade relations with the EU, while boosting support for scientists departing the US.
Amidst significant transformations in the UK's economic and scientific arenas, a series of headline events have emerged. Legal & General, a key player in British finance, is expanding its influence by acquiring a 75% stake in Proprium Capital Partners, a global real estate private equity entity.
The UK is taking decisive steps towards regulating 'buy now, pay later' services, demanding that providers like Klarna and Clearpay adhere to the same standards as conventional banks. This regulation aims to bring them under the purview of Britain's Financial Conduct Authority.
Prime Minister Keir Starmer edges closer to a crucial EU food trade agreement, anticipated to require the UK's compliance with certain EU standards. Concurrently, UK scientific institutions are gearing up with long-term funding plans to attract scientists affected by the US administration's research budget cuts.
(With inputs from agencies.)
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