Weston family buys Boots for $9bn

Afternoon all,

In another piece of major retail news - in what is shaping up to be a major retail week - the billionaire Weston family has snapped up Boots for $9bn. That means the iconic high street chemist will move from one private owner (Sycamore Partners) to another (Wittington Investments). It’s a blow to those who had hoped that Boots might one day return to the London Stock Exchange.

Meanwhile, Kemi Badenoch has made the bold pledge to scrap inheritance tax on family homes if the Tories get back into power. The leader of the opposition said that she hopes to go even further if elected, with an “ambition” to end the unpopular levy altogether. It’s all part of a concerted effort by the Conservative party to shift political debate towards the economy.

PLUS: Today, the second highest appeals court in the land has overturned fraud convictions for five City traders convicted of Libor and Euribor-related offences.

We’ll be back in your inboxes at 8am tomorrow. Have a good evening.

Matt

Wittington Investments, the company representing the Westons’ Canadian operations, said on Wednesday it will buy Boots from its private equity owners, Sycamore Partners.

Alex Baldock, chief executive of Boots, said: “For all of our social impact and commercial success to-date, the opportunity ahead is even greater. I look forward to making the most of that opportunity and building a world class Boots for our colleagues, customers, patients, and communities.”

In her main address to party members at the Conservatives’ conference, she said the Conservatives would restore “common sense” as political leaders enter a “battle for the soul of this nation”. 

The new pledge on inheritance taxes will not lead to its full abolition, with other property and savings still facing a levy. 

Badenoch said it is her “ambition” to end the tax altogether as it now impacts middle class families. Couples will also be “able to leave an additional £1m pounds tax-free” to their families. 

The five traders, who previously worked at Barclays, had their convictions quashed on Wednesday after the Supreme Court overturned the convictions of Tom Hayes and Carlo Palombo last year, two former City traders who became the face of the London Interbank Offered Rate (Libor) scandal.

On Wednesday, the convictions of Jay Merchant, Jonathan Mathew, Philippe Moryoussef, Alex Pabon and Colin Bermingham, all former Barclays traders, were overturned.

The capital’s biggest shared e-bike operator has awarded £886,857 to nine boroughs, including Greenwich, Lambeth and Hackney, to create or expand 586 parking bays this year.

Lime is now offering a further £1m to councils to ease overcrowding at existing bays and address one of the biggest complaints about the rapid spread of rental bikes across London.

The London-listed conglomerate, which owns Sports Direct and Flannels, has pushed up its position in the FTSE 100 fashion brand from 4.2 to 6.3 per cent of the company. 

These shares are held through put options, meaning that Frasers does not yet own this stake but has the right to buy it at a fixed price. 

Mike Ashley’s retail group has tightened its grip on the UK’s biggest luxury designer just days after it signalled plans to expand further into up-market clothing. 

After hundreds of years of service, Simpsons Tavern lay empty for three years from 2022, when the former tenants were removed over rental arrears. City AM ran a campaign to save the venue, which was backed by Nigel Farage, who drank in the pub during his Square Mile days.

The restaurant is tucked up a narrow alleyway you’d never otherwise notice, close to The Royal Exchange; once inside, the labyrinthine space unravels to become five times larger than its narrow Georgian doorway suggests. It’s arrestingly simple: rows of polished wood seating by candlelight.

Hundreds of new films will be premiered at this year’s festival, and many of the screenings are publicly bookable, with tickets currently on sale. New tickets for ‘sold out’ events are constantly being added to the website, so if an event looks sold out, check back again later in the week. 

Screenings, many attended by the cast and crew of the films, as well as talks, events, art installations and immersive experiences all form parts of this year’s festival, which takes place in the capital between Wednesday 7 October to Sunday 18 October 2026. 

Here are some of the best events to book this London Film Festival.

Footage of Gunners fans swarming the streets of East Africa and monuments from New York City to Guangzhou being lit up red flooded social media before 1m fans lined North London for the trophy parade. 

Kroenke Sports and Entertainment, whose multi-sport portfolio includes Arsenal, the NFL’s LA Rams and NBA’s Denver Nuggets, has taken note, said Kevin Demoff, KSE’s president of team and media operations. 

Long gone are the days of life-long jobs and 30 year watches and thank goodness – job-hopping is a joy, writes Shazam-investor-turned-crime-bestseller-turned-play-director Ajay Chowdhury in today’s Notebook.

Would you like to advertise with us or become a sponsor? Please reach out to: [email protected]