It may seem incongruous for a Labour-led government to prioritize a thriving stock exchange as a central element of UK policy. After all, what does share trading have to do with traditional left-leaning principles? However, neglecting the equity market could hinder Prime Minister Keir Starmer’s goal of fostering economic growth. Recent developments have highlighted ongoing concerns. This week, the London Stock Exchange witnessed a failed initial public offering, the decision by fintech firm Wise Plc to move its primary listing to New York, and a private equity acquisition. Even Shein Group Ltd., the controversial fast-fashion retailer, seems to be avoiding London. Additionally, Bet365 Group Ltd., a gambling company, is reportedly considering a New York IPO, according to the Guardian. Foreign acquisition offers continue to emerge.
— new from Bloomberg
