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RUTH SUNDERLAND The weak pound encourages attacks on British businesses.
The decline in the value of the pound will have the unintended consequence of encouraging even more aggressive raids on British businesses. Foreign investors are scouring the London Stock Exchange for deals like they're shopping at TK Maxx, with sharp elbows. Source Several prominent tech companies, such as cybersecurity provider Darktrace and IT giant Micro Focus, have been targets this summer. They are certainly not the last. Jacob Rees-Mogg is in charge of preventing the corporate crown jewels from leaving Britain. This year's passage of the National Security and Investment Act gives the new Business Secretary the authority to halt harmful takeovers. Will he actually put them to use is the question. Prior to him, Kwasi Kwarteng had taken a more moderate approach. Rees-Mogg, who has only just gotten his well-shod feet under the desk, is far too new to make any definitive judgments about him at this point. However, one of his first moves was to approve the £5.6 billion buyout ...
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