LME delays reopening of Asian trading after finding bags of stones instead of nickel March 20, 2023 The London Metal Exchange has postponed the resumption of nickel trading during Asian hours by a week to March 27.
Russia and Ukraine extend Black Sea grain deal in bid to lower global food prices March 18, 2023 An unprecedented wartime deal that allows grain to flow from Ukraine to countries in Africa, the Middle East and Asia where hunger is a growing threat has been extended. The extension was announced by the United Nations and by Turkish President Recep Tayyip Erdogan, but neither confirmed the length of the extension. The UN, Turkey [...]
Silicon Valley Bank UK paid out £15m in bonuses to top execs just days after HSBC rescue deal March 18, 2023 Silicon Valley Bank’s UK arm handed out over 15 million pounds ($18 million) in bonuses days after its rescue deal this week by HSBC, Sky News reported on Saturday. Payouts to staff including senior executives were signed off by HSBC earlier in the week, the report said, adding that the bonuses would not have been paid this week if SVB UK had [...]
Credit Suisse weighs up survival options as 167-year-old bank faces pressure to merge with rival UBS March 18, 2023 Credit Suisse Group began a make-or-break weekend after some rivals grew cautious in their dealings with the bank and regulators urged it to pursue a deal with Swiss rival UBS. Credit Suisse Chief Financial Officer Dixit Joshi and his teams will hold meetings over the weekend to assess strategic scenarios for the bank, people with knowledge of the matter [...]
Deloitte fined £25m by China over audit of state-owned asset manager March 18, 2023 China has fined auditing firm Deloitte 211.9m yuan (£25.3m) for failing to perform its duty in assessing the asset quality of China Huarong Asset Management Co Ltd, the finance ministry said on its website on Friday. Deloitte’s Beijing operations also will be suspended for three months, the ministry said in a statement. China Huarong and its [...]
Rolls-Royce wins funding to develop nuclear reactor for Moon exploration March 17, 2023 Rolls-Royce has received £2.9m funding from the UK Space Agency to develop a nuclear reactor for a Moon base.
EU announces plans to lead green industrial revolution March 16, 2023 The European Commission presented the centrepieces of a strategy on Thursday to ensure the EU can compete with US and China.
Bentley drivers shrug off cost of living crisis as luxury carmaker reports best ever year of sales March 16, 2023 Bentley saw its profits soar to a record £623.7m in 2022 in what has been described as a “milestone” year for the British luxury car brand. The operating profit announced on Thursday was an 82 per cent increase of £281m on its 2021 figure of £342.5m. The firm also turned over £2.98bn in 2022 – [...]
Grant Shapps backs nuclear power in net zero push March 16, 2023 Nuclear must form part of a decarbonised portfolio of energy production, argued Grant Shapps, energy and net zero secretary.
Eon plans big investment hike in grids and retail business after optimistic outlook March 15, 2023 Eon - Europe's biggest operator of energy networks - plans to boost investment in its grids and retail businesses to £29.1bn (€33bn).