SSE Renewables jumps into Japanese offshore wind with $208m stake September 29, 2021 SSE Renewables has jumped into Japan’s offshore wind farm market with a $208m joint venture with local renewables company Pacifico Energy. The alliance will see the energy firm’s develop offshore wind energy projects in Japan, as the country seeks to become net-zero by 2050. SSE shares dipped 0.5 per cent to 1,586.5p in its afternoon trading. [...]
Shareholder backlash forces Foxtons to review bonus policies September 29, 2021 Property giant Foxtons said this morning it plans to review its bonus policies after facing a backlash from shareholders who said they were too generous. Investors showed their fury at the company at its annual shareholder meeting in April with just under 40 per cent voting against an almost £1m bonus for its chief executive [...]
Pound plunges to January depths September 29, 2021 Pound sterling plummeted to its lowest level against the dollar since January today driven by traders gearing their portfolios toward safer assets. The pound lost ground on the greenback, dipping 0.06 per cent to buy $1.3527. The pound tends to move in line with global equity markets. Stocks suffered heavy hits yesterday, driven by investors [...]
FTSE 100 climbs as London markets shake off inflation fears September 29, 2021 London’s FTSE 100 jumped during opening exchanges today driven by investors in the capital shaking off inflation concerns that rattled global markets yesterday. The capital’s premier index added 0.74 per cent to reach 7,079.97 points in the first hour of trading today. Global markets sold off yesterday as investors rejigged their portfolios in preparation for [...]
Crunch time: Morrisons takeover battle to culminate in one-day auction this weekend September 29, 2021 A months-long multibillion pound takeover battle for Morrisons will culminate in a one-day auction on Saturday, the UK’s takeover watchdog has confirmed. The stock market’s Takeover Panel said it would run a bidding process of up to five rounds this weekend because neither of the private equity bidders Clayton, Dubilier & Rice and the Fortress [...]
Exclusive: 300 UK financiers provide £40bn in deforestation funds, claims WWF September 29, 2021 Around 300 City and UK-based financiers are directly providing £40bn in funding to companies that threaten Brazilian and Indonesian rainforests, according to nature charity WWF. The funding is provided through both investments and loans, the organisation told City A.M. in an email. Most of the companies are involved in the production of beef, palm oil, [...]
Euan Blair’s Multiverse education startup raises $130m to become a ‘soonicorn’ September 29, 2021 Multiverse, the apprenticeships startup co-founded by Tony’ Blair’s eldest son Euan Blair, has edged closer to a unicorn valuation after closing a fresh $130m (£95m) US investor-led funding round. In the largest EdTech (education tech) investment in the UK to date, the Series C fundraising round, which was led by US investment firms D1 Capital [...]
Messages from central bankers suggest persistent inflation concerns are rising September 29, 2021 European markets had a poor day yesterday, all of them down over 2 per cent, with the notable exception of the FTSE100 which was helped in no small part by its hefty energy component, and a sinking pound, which helped to keep it above the 7,000 level. “Once again it is fears about surging energy [...]
Shareholder turbulence: EasyJet reigns slip from billionaire founder Stelios September 28, 2021 The founder of EasyJet, Stelios Haji-Ioannou, has reportedly lost his power to veto decisions made the board on behalf of the airline after he let his stake dwindle. The billionaire, who launched the budget airline 26 years ago, chose not to buy new shares in a rights issue following a takeover bid by rival Wizz [...]
Shares collapse for London-listed firm behind Southeastern train operations September 28, 2021 One of the companies behind Southeastern train operations, which the government took control of this morning, has had its share collapse nearly 25 per cent. Southeastern is operated by Govia, a joint venture between transport operators Go-Ahead (65 per cent) and Keolis (35 per cent). Go-Ahead’s shares plunged 24.98 per cent to 769p per share [...]