Record numbers becoming billionaires through inheritance, UBS report finds

The UK economy has faced significant challenges, including austerity measures, Brexit, the pandemic, and rising energy costs, leading to widespread dissatisfaction among citizens regarding income, home ownership, and public services. Recent polling indicates a decline in trust towards Labour's economic leadership, particularly under Chancellor Rachel Reeves, who has been criticized for her handling of the economy.

WPP, the advertising giant that dominated the industry for nearly three decades, has been relegated from the FTSE 100 index, reflecting a significant decline in its market value from approximately £24 billion in 2017 to £3.1 billion. This shift marks a notable change in the landscape of the advertising sector as WPP struggles to retain clients and adapt to the competitive pressures of artificial intelligence and data analytics.

The UK government has agreed to implement recommendations aimed at reducing baby formula costs, potentially saving parents up to £500, as stated by Labour leader Keir Starmer. This announcement precedes the release of the government's child poverty strategy and follows the recent removal of the two-child limit for benefits in the budget.

UBS has upgraded its rating for Bachem, highlighting improved growth visibility and stronger mid-term forecasts. This positive sentiment reflects UBS's confidence in Bachem's potential for future performance in the market.