A slump in the pound has seen US investors put almost $1bn into London commercial property in recent months even as other international investors take flight. American investors spent $929m (£809m) on commercial property such as offices, shops and warehouses in the capital between July and September, according to data compiled by Savills (LON:SVS). That was almost double the $479m invested by US businesses in the second quarter. – Telegraph
Jeremy Hunt is set to announce a new tax raid on inheritance as he battles to balance the books at next week’s Autumn Statement. The Chancellor and Rishi Sunak are understood to have agreed to freeze the threshold above which people must pay tax for another two years. – Telegraph
Global corporations including UPS and Manpower were among 18 companies pursued by the UK government for failing to comply with rules governing the treatment of suppliers, a criminal offence punishable by fines. The business department launched proceedings against them for failing to abide by rules related to the reporting of supplier-payment performance, The Times can reveal. They all complied with the rules after the government intervened — but one, part of Europe’s largest veterinary group, took more than three months to do so. – The Times
A leading British fund manager has been increasing its investment in debt issued by UK companies in the belief that the rapid raising of interest rates by central bankers could be nearing its peak and that the risk of borrowers defaulting is already priced into corporate bonds. The yields on UK corporate bonds have risen sharply since the start of this year on the back of the increase in government debt and fears of growing pressure on companies as the economic outlook darkens. – The Times
