Caroline Hepker

Nuveen is buying Schroders for a total value of £9.9 billion.

It means the end of more than two centuries of independence for Schroders, the UK's largest standalone asset manager.

The money manager has struggled in recent years, facing criticism for its relatively high cost base and slower organic growth.

According to a statement, the cash offer represents a 29% over Wednesday's closing price.

The transaction is expected to close in the fourth quarter of this year pending regulatory approvals.

And now, in terms of the UK Prime Minister, Keir Starmer has labelled comments on immigration made by Manchester United's co-owner Jim Ratcliffe as offensive and wrong.

A spokesperson for Number 10 also called on the billionaire boss of Ineos Chemicals to apologise for the remarks made during an interview with Sky News.

During the conversation, Ratcliffe said that the UK couldn't sustain its current population growth.

The exchange between Jim Ratcliffe there on Sky News, he went on to argue that Keir Starmer needs to make difficult decisions to get the UK back on track.

Data from the Office for National Statistics estimates that the UK's population in mid-2025 was 69.4 million versus 66.7 million in 2020.

Several Manchester United supporters clubs have condemned the comments as well as the Kick It Out campaign against discrimination in sports.

That's news when you want it with Bloomberg News Now.

I'm Caroline Hepker.

And I'm Caroline Hepker.

The latest revelations come as the fallout from the release of the Epstein files continues to reach across governments, companies and universities.

US Attorney General Pam Bondi yesterday revealed that there are pending investigations by the US Justice Department related to the probe of the late disgraced financier Jeffrey Epstein.

During a congressional hearing on Wednesday, Bondi said in a response to a question about whether there were any additional Epstein-related prosecutions planned, that we have pending investigations in our office, but did not elaborate.

And during that same hearing, New York Congressman Jerry Nadler tried to ask Bondi how many men connected with Epstein have been indicted.

The exchange between Nadler and Pam Bondi came as Columbia University said that it admitted a student to its dental school via what it called a regular process that coincided with fundraising solicitations by former faculty and alumni to disgrace financier Jeffrey Epstein.

That revelation came after Bloomberg reported on a years-long chain of communication between Epstein's camp and senior members of the Columbia dental faculty.