Legal & General Capital announces $500m investment into US laboratory firm May 25, 2022 Asset manager Legal & General Capital (LGC) has unveiled its first stateside investment today with a $500m cash injection to spur the development of lab facilities across the US.
The Bank’s climate warnings are too overblown to help May 25, 2022 What was it HSBC’s now-suspended banker Stuart Kirk said about alarmist climate warnings? “Unsubstantiated, shrill, partisan, self-serving, apocalyptic warnings are ALWAYS WRONG” was the title of the slide which has seen him taking some unexpected time in the garden, as he dared to offer the heretical view that reports of the world’s imminent demise may [...]
Letters: London as the golden child May 25, 2022 [Re: London shines as top tech hub in Europe – again, yesterday] Nearly six years on from the EU referendum, fears of Brexit derailing London’s standing as a global capital for tech and innovation are being routinely challenged. This new research from the Z/Yen Group shows London reigns as Europe’s most technically advanced city, second [...]
Glencore pays $1bn settlement to US authorities after admitting bribery in UK court May 24, 2022 Commodity trader Glencore has agreed to pay more than $1bn to US and Brazilian authorities to settle corruption investigations, after indicating it will plea guilty to bribery charges in the UK. Glencore said it will pay a combined sum of $1.06bn to the US Department of Justice (DoJ) and Commodity Futures Trading Commission (CFTC), and [...]
European round up: Germany puts coal power on standby while EU pushes for Russian oil ban May 24, 2022 Germany is preparing to extend the life of coal-fired power stations which would have been discontinued over the next two years.
Issa brothers’ EG Group sees fuel gross profit margins reduce slightly after war in Ukraine May 24, 2022 The Issa brothers’ EG Group has seen its fuel division’s gross profit margins slim slightly after Russia’s invasion of Ukraine. Across the firm’s fuel arm, gross profit hit $481m in the three months to 31 March, a 16 per cent increase compared to the first quarter of 2021. However, its gross profit margins were slightly [...]
Accountancy firms ask for exemptions from ban on providing services to Russia May 24, 2022 Accountancy firms have asked the UK government to offer exemptions to professional services firms from rules blocking them from working with Russian clients. The calls come after the government this month set out plans to block British accountants, business consultants, and PR managers from providing their services to Russians, in response to the country’s invasion [...]
JPMorgan braced for more than $1bn losses on digital retail bank Chase May 24, 2022 Wall Street giant JPMorgan said it is braced for more than $1bn losses as it grows its digital bank Chase over the next few years, with the retail lender passing the 500,000 customer mark in the UK today.
City spooked by more signs of cost of living crunch chilling UK economy May 24, 2022 More signs of the cost of living crunch cooling the UK economy weighed on market sentiment in London during opening exchanges today. The capital’s premier FTSE 100 index dropped 0.39 per cent to 7,484.35 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, tumbled 1.47 [...]
The City View: Crossrail finally arrives May 24, 2022 Today Andy Silvester talks to Adam Tyndall, Programme Director for Connectivity at London First. They talk all things Crossrail — from the first idea of an East-West railway in the 19th century, to the funding behind the Elizabeth Line, and to the future of London’s transport system. And in other news — Shell’s AGM was [...]
