Financial Times – Activist Cevian bets €1.2bn on UBS doubling its valuation in three years 

The Financial Times reports activist investor Cevian Capital has taken a €1.2bn stake in the Swiss bank UBS, betting it can double its valuation over the next three to five years.

Alongside that story is a report on Scotland’s new high-income tax band of 45%. The paper writes that the new bracket is “widening the gap between what better-off Scots and their counterparts in the rest of the UK pay”.