‘Bond market tantrum risks’: Gilt traders brace for Labour leftward pivot as Starmer future uncertain
Manufacturing output on track for spring surge March 23, 2021 Manufacturing output hit its highest level in nearly two years in the three months to March in the clearest sign that a revival could be on the cards for the sector. Although still flat, the CBI’s monthly order book balance rose to -5 in March, the highest reading since April 2019 and up from -24 [...]
Ministers must set out 30 year rail electrification plan, MPs warn March 23, 2021 The government needs to lay out a 30 year plan for electrifying the UK’s rail network if it is to hit its climate targets, MPs have today warned. A new report from the Transport Select Committee argued that the government should commit to a programme of rolling electrification projects over the next three decades if [...]
BP boss Bernard Looney takes home £1.7m after bonuses axed March 22, 2021 BP’s boss Bernard Looney was paid £1.7m for his first year in charge of the oil giant as the firm axed all of its bonuses due to the coronavirus pandemic. The Irishman, who took over the firm at the beginning of 2020, could have been in line for £11m in remuneration, but the crisis put [...]
TfL accepts emergency funding extension until May March 22, 2021 Transport for London (TfL) has this morning agreed to an emergency seven week extension to its current funding deal to keep it going amid the pandemic. The transport network had been hoping to strike a long-term funding agreement with the government to begin fixing its finances, but last week transport secretary Grant Shapps pulled the [...]
LGIM to call for ‘more protections’ for minority investors March 22, 2021 One of the UK’s largest investors is set to call for more protections for minority investors in a submission to the Financial Conduct Authority (FCA) over reforms to the UK’s listings regime. Legal & General Investment Management (LGIM) will call for a range of measures, including making investment banks which run IPOs for companies receive [...]
Bulb calls on Treasury to scrap VAT on green products ahead of ‘tax day’ March 22, 2021 Challenger energy brand Bulb has today called on the Treasury to scrap VAT on green products in a bid to encourage more households to “go green”. According to the firm, which now supplies energy to 1.7m households, scrapping the duty on such items could save the average family £5,500. As a result of the UK’s [...]
Centamin strikes gold as price surge takes revenues to new highs March 22, 2021 Gold miner Centamin generated record revenue in 2020 as the coronavirus pandemic pushed precious metal prices higher around the world. The firm reported revenue of $829m in 2020, from gold sales of 468,681 ounces at an average realised gold price of $1,766 per ounce sold. The gold mining company recorded profit before tax of $315m [...]
SEC grants shareholders right to vote on emissions from US oil majors March 22, 2021 Shareholders at US oil giant Conoco Phillips will have the chance to vote on emissions reductions targets after the US Securities and Exchange Commission (SEC) denied the firm a bid to throw out environmental motions. The oil major had sought to convince the regulator that motions asking the firm to lay out its plans for [...]
British Airways owner IAG tops up survival bond issue to €1.2bn on increased demand March 18, 2021 British Airways owner IAG increases survival bond sale to €1.2bn on increased demand
Reducing TfL service levels risks ‘cycle of decline’ in capital, ministers warned March 18, 2021 Forcing Transport for London to reduce service levels as part of its new bailout package could hamper the capital’s recovery from the pandemic and instigate a “cycle of decline”, a group of London business leaders has said. It came as the transport network warned that it had no more mega-projects planned after current works are [...]
