Global emissions must be cut 7.6 per cent a year to meet Paris targets November 26, 2019 Unless greenhouse gas emissions fall 7.6 per cent each year for the next decade, the world will miss its chance to limit the global temperature rise to 1.5 degrees celsius. A new report from the United Nations environment programme (Unep) finds that on current pledges, the world is heading for a 3.2 degree rise. Read [...]
China’s Sdic Power to list in London for up to £640m November 26, 2019 Leading Chinese power generation firm Sdic Power today confirmed that it would offer 10 per cent of its shares as global depositary receipts on the London Stock Exchange (LSE). Shanghai-listed Sdic is worth 57.92bn yuan (£6.4bn), which suggests that the offering could be worth up to £640m, according to a source familiar with the transaction. [...]
Uber rival Bolt set to secure $100m in new funding November 26, 2019 Uber competitor Bolt is on the verge of securing more than $100m (£78m) in new funding. The Estonian ride-hailing app is working with Goldman Sachs on the new round of funding, just four months after raising £50m from new and existing backers. Read more: TfL bans Uber from London after a ‘pattern of failures’ Bolt, [...]
Pennon raises dividend on the back of robust first half of 2019 November 26, 2019 Pennon, which owns waste management firm Viridor and utility supplier South West Water, said it had posted a “robust” set of results for 2018 as the firm raised its shareholder dividend. Read more: Compass Group shares sink as catering unit is undercooked The figures Pennon’s profit rose 0.8 per cent in the half ending 30 [...]
IPOs – no sure thing? November 26, 2019 | City Talk IPOs always attract plenty of attention, particularly when they are of highly-recognised companies. But are they a wise destination for investor cash? IPOs offer plenty of glamour, a change from the usual stocks in an index, and there have been plenty of new entrants to the UK stock market over the past ten years. Some [...]
FTSE 250 hits highest level in 15 months as Conservatives maintain poll lead November 26, 2019 The FTSE 250 nudged up 0.2 per cent this morning to 20,740, reaching its highest level since August 2018. The London index rose on the back of growing investor confidence that the Conservatives will win December’s General Election, after polls showed the party had maintained a healthy lead over Labour. Russ Mould, investment director at [...]
Alibaba IPO: E-commerce giant’s shares jump on blockbuster Hong Kong debut November 26, 2019 Alibaba, the Chinese online retail giant, has enjoyed a surge in its share price after floating on the Hong Kong stock exchange, in one of the year’s most hotly anticipated Initial Public Offerings. The firm, which is already listed in the US, raised around £8.8bn in its secondary listing, with chairman Daniel Zhang cheering on [...]
Green Bonds vs. Traditional Bonds November 26, 2019 | City Talk Are environmental, social, and governance (ESG) investing returns higher, lower, or the same as those of comparable traditional investments? This question is the source of constant debate. Because ESG investing integrates non-traditional sources of risk that are not always priced by the market, some theorize that ESG approaches might generate higher returns than traditional assets. Contrasting green and non-green [...]
National Grid pays $35m penalty but avoids losing New York license November 25, 2019 National Grid has reached an agreement with New York state to end its supply moratorium for customers in Brooklyn, Queens and Long Island, a day before governor Andrew Cuomo’s deadline to do so. The company will also make $7m (£5.4m) available to assist customers affected by the moratorium, as well as committing $28m more for [...]
Mitsubishi beats Shell to purchase of Dutch energy supplier Eneco November 25, 2019 Dutch energy supplier Eneco this morning confirmed that it would be acquired by a Mitsubishi-led consortium for €4.1bn (£3.5bn). The deal will give Mitsubishi 80 per cent of the company, with fellow Japanese power firm Chubu taking the remaining 20. Read more: Shell picks Citi bank for $1bn sale of Egyptian oil assets The group [...]