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- Today's business and finance round up 30th June 2021
Today's business and finance round up 30th June 2021
đDuo of companies surprise with London IPO plans
30th June 2021

Good morning What a time to be alive, England beating Germany at the Euros! Cue British media getting very excited.
Today's stories
Duo of companies surprise with London IPO plans
Highly educated British minorities losing out at work
Yesterday's market moves
FTSE 100 +0.2% 7,088 FTSE 250 0.0% 22,542
Markets eeked out small gains as investors wait for US jobs data due out on Friday.Closer to home, house builder stocks were supported by new stats from Nationwide Building Society that showed that UK house prices rose by 13.4% in June - the fastest rate since 2004. â as buyers looked to move out of cities and to take advantage of the stamp duty holiday that ends today.
IPOsDuo of companies surprise with London IPO plans

Whatâs going on?It seems like thereâs not a day that goes by without an initial public offering (IPO) announcement on the London stock market. Yesterday two companies took the market by surprise with their plans to IPO - make up brand Revolution Beauty and private equity firm Bridgepoint.Why is this important?
Revolution Beauty owns the Makeup Revolution brand and sells its products in stores like Superdrug and Boots and online on ASOS and Boohoo. It also has a strong presence on social media and works with influencers.A public listing is an unusual route as smaller beauty companies tend to be swallowed up by their giant rivals instead (see LâOrĂ©al acquiring NYX Cosmetics or Estee Lauder buying Too Faced). The IPO is expected to value Revolution Beauty at as much as ÂŁ500m. The cash raised will go towards growing the business and incentivising management.Bridgepoint is probably best known for being the former owner of sandwich chain Pret-a-Manger and has backed other British businesses such as restaurant group Itsu and online cycling specialist Wiggle. The firm also owns businesses across Europe, Asia and North America worth over ÂŁ23bn.The IPO is expected to value Bridgepoint at up to ÂŁ2bn. Private equity firms rarely do IPOs, they tend to be owned by institutional investors like big pension funds or high net worth individuals. TakeawayThe London stock market has had the strongest start to the year since 2014.There had been reports of investors getting âIPO fatigueâ from the glut of companies going public but Revolution Beauty and Bridgepoint remain undeterred. IPOs by make up brands and private equity firms are rarities so provide evidence of just how buoyant the London stock market is.
WORKPLACEHighly educated British minorities losing out at work

The message thatâs often drummed in from a young age is that if you work hard, get good grades, go to university and get a degree then this should be the passport to good jobs as adults.However a new report from the Institute for Fiscal Studies (IFS) says thatâs not the case for children of immigrants i.e. second generation ethnic minorities.
The study found that although these children are more educated than their white peers they are less likely to be employed when they grow up, and some minorities are less likely to reach managerial/professional occupations,The research uses data over a 40-year period to track outcomes across generations within families. It focuses on second-generation minority ethnic groups â those whose parents were born abroad and moved to the UK as adults â and on the Indian, Pakistani, Bangladeshi and black Caribbean ethnic groups who are represented in sufficient numbers for analysis and who are sufficiently long-standing in the UK that the second generations can be tracked well into adulthood. These comprise the majority of the UKâs second-generation adult ethnic minorities.The report says that âhard questionsâ need to be asked as to why their educational success doesnât translate fully into success in the labour market.
Stat of the day

California has given away $116m in vaccine prizes
Other stories to keep you in the loop
Facebookâs value tops $1tn after judge dismisses US lawsuits
Duolingo files for US IPO as lockdown learners lean into languages
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Overseas bosses to get UK quarantine exemptions
