London stock market rules shaken up in attempt to stop firms moving overseas

Changes will allow companies to skip shareholder votes on takeovers, which critics say risk diluting the quality' of the UK market

The City watchdog will trigger the biggest shake-up of London stock market rules in more than 30 years this month, in an attempt to make the UK a more attractive place to list shares.

The Financial Conduct Authority (FCA) confirmed on Thursday it would streamline and loosen rules for listed companies on 29 July, after months of hand-wringing over an exodus of companies from the London Stock Exchange for rival financial hubs.