&#1635bn | Common News Update

Aston Martin says it is gearing up for a "key milestone" in its history through a stock market listing. The luxury UK sports car manufacturer confirmed a story by Sky News on Tuesday that it had started the flotation process, with the aim of launching the prospectus for its Initial Public Offering (IPO) on 20 September.Further details were expected to be released later on Wednesday when registration documents, submitted to the Financial Conduct Authority (FCA), are due to be published.Sky's City editor, Mark Kleinman, has already reported that the IPO would be expected to value James Bond's favourite carmaker - currently owned by Italy's Investindustrial and Kuwaiti vehicle Investment Dar - at £5bn. Image: The 1964 Aston Mar...

Government borrowing jumped by far more than forecast last month as the Treasury battles the impact of higher inflation on the public finances.Figures from the Office for National Statistics (ONS) showed net borrowing, excluding state-owned banks, increased by £2bn to almost £6.9bn in June compared with the same month last year - a rise of 43%.The figures underline the scale of the challenge facing a politically-weakened Government wanting to balance the budget while facing demands from critics to loosen the purse strings, in particular by removing the pay cap from public sector workers.All this while the economy falters.Higher inflation - a consequence of the pound's weakness since the Brexit vote - has threatened Government coffers as it risks hitting taxes if businesses and consumers re...

Tag: &#1635bn

Aston Martin drives 'milestone' £5bn float

Inflation's £5bn toll on Government coffers