Crypto News: The London Rush: LSE bulking season

Morning, I'm Louise Moon from Bloomberg UK's breaking news team, bringing you up to speed on today's top business stories.

Winter bulking season is coming for the London Stock Exchange.

Sports supplements company Applied Nutrition (think whey protein powder and energy gels), set a 136 pence to 160 pence per share price range for its London IPO. At the top end of that range, it would be valued at £400 million.

For a bruised City, which has at times looked a touch weedy, with a dearth of listings and plenty of foreign takeovers, it is positive news. Sentiment is up after computer-maker Raspberry Pi made its public debut over the summer, plus some regulatory reforms have helped attract listings.

Next up could - could! - be fast fashion giant Shein in what would be a huge boost for London, having been valued at a $66 billion in its last funding round.

But it's wait-and-see: in an interview with Bloomberg on Tuesday, Keir Starmer said all companies looking to sell shares in London will face scrutiny over workers' rights.

What's your take? Ping me on X, LinkedIn or drop me an email at lmoon13@bloomberg.net. Oh, and do subscribe to Bloomberg.com for unlimited access to trusted business journalism on the UK, and beyond.

A small, AIM-listed podcast company Audioboom is cashing in on what is turning out to be quite an eventful US election. Third-quarter revenue was up 34% year-on-year. Shares popped 18%.

Recruiter Robert Walters joined peers in emphasizing a lack of confidence (from both clients and candidates) is hitting hiring. It doesn't expect that to start improving until next year.

Maybe everyone is going abroad instead... Europeans and Americans travelling to low-cost destinations means a "record performance" for Hostelworld in Asia and Central America.

And Bellway is the latest homebuilder to note signs of improvement in the UK housing market after years of declining sales.

China taxes the ultra-rich in urgent need to expand sources of revenue.
US weighs capping Nvidia, other AI chip sales on country-specific basis.
North Korea blew up road links to South, as Seoul fires warning shots.

Here's your daily snap analysis from Bloomberg UK's Markets Today blog:

The latest batch of UK jobs data came with the usual array of slightly messy numbers and caveats from the ONS about the accuracy of the figures, but the underlying message looks to be a positive one for the Bank of England.

UK wages — a longstanding source of worry for policy makers — grew at the slowest pace in over two years over the summer. That should make it easier for the central bank to press ahead with its rate-cut plans, with traders seeing a move next month as a near-certainty.

Two big events between now and the November decision could change that, though. Tomorrow's inflation data, which is expected to show the headline rate fell below the BOE's target, and the Oct. 30 budget.

Nasty surprises in either could cast doubt on the prospects for an imminent cut.

— Sam Unsted

Check Bloomberg UK's Markets Today blog for updates all day.

The second big miner of the week: Antofagasta and its third-quarter earnings.

Analysts expect copper output to continue to climb, pushing up results, but achieving full-year goals may be a stretch. They're on the look out for production guidance for this year and next.

Which football manager, and former player, has reportedly been sounded out by the FA to become the next man to lead the England team?

Photographer: Christopher Pike/Bloomberg

[Yesterday's answer: DP World's investment in its London Gateway port would put the facility on track to dethrone Felixstowe as the busiest container facility.]

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