(Bloomberg) -- UK government bond yields stabilised, even as Liz Truss's premiership moved closer to the cliff edge — a sign that the government’s chaos might no longer matter to markets, according to Bloomberg Opinion. On the corporate front, industry bellwether Schroders saw its assets under management drop by £21 billion after the UK pension fund crisis engulfed the industry.

Here’s the key business news from London-listed companies this morning:

In The City

Schroders Plc: The UK’s largest standalone asset manager said assets dropped to £752.4 billion from £773.4 billion in the three months through September. 

• More than £20 billion of the decline came from the firm’s Solutions business, which houses its so-called liability-driven investment strategies

Jupiter Fund Management Plc: The asset manager’s new boss set out his plan for the struggling firm, including launching a share buyback program and continuing with a restructuring of senior management. 

• Bloomberg reported earlier this month that company’s CEO was planning to shake up about a third of its funds 

Naked Wines Plc: The booze retailer cut its sales forecast for the year and said it’s taking steps to “reset our cost base and unwind inventory levels.”

• “We recognise that in pursuit of rapid growth we have made mistakes,” CEO  Nick Devlin said, adding that last year the firm bought inventory and added to its cost base in anticipation of sustained faster growth which has not been delivered

National Express Group Plc: The bus operator expects its full-year results to be broadly in line with its own expectations as it continues to see strengthening passenger numbers in its coach businesses in the UK and Spain. 

In Westminster

Liz Truss premiership looked close to imploding after she fired one minister over a security breach and two others were heard resigning amid the fallout from a chaotic parliamentary vote before agreeing to stay in their posts. Many Conservative lawmakers now want Truss to resign immediately. 

Gilts stabilized despite the sheer pandemonium of Truss and the Conservatives in parliament. “It’s almost like the UK’s government is so chaotic it no longer matters,” writes Bloomberg Opinion’s John Authers. 

In Case You Missed It 

Just a day after Britain’s inflation level hit double digits once more, the latest Bloomberg Breakfast Index shows how every ingredient is now much more costly than a year ago. A full-English fry-up is now 20% more expensive than a year ago in a stark example of how rampant food price inflation is chipping away at household budgets.

Wealthy consumers, meanwhile, are still spending on luxury goods “like it’s 1999.”

Elsewhere, the number of drug trials conducted in the UK has plunged, undermining the government’s hopes of turning Britain into a global hub for pharmaceutical innovation.

Looking Ahead 

Deliveroo Plc’s results tomorrow come after food delivery rival Just Eat Takeaway.com swung to positive earnings earlier this week. 

London-based Deliveroo has set its eyes on achieving adjusted Ebitda profitability and after that, free cash flow generation, but is facing headwinds from a worsening consumer environment. Bloomberg Intelligence analyst Diana Gomes suggests the company could narrow its gross transaction value guidance range, which at 4%-12% appeared too wide.

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--With assistance from Charles Capel.

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