BlackRock bears down on environmental concerns as investor goes green May 5, 2021 Asset management giant BlackRock have increased their green engagements by more than 50 per cent in the past year, the firm said this morning. BlackRock Investment Stewardship’s (BIS) quarterly update suggests the trend towards more of a green push from major shareholders will continue. The giant’s stewardship team held almost 1,000 “engagements” with firms it [...]
Tesco, M&S and John Lewis among UK retail giants to threaten Brazil boycott over Amazon deforestation May 5, 2021 UK retail giants including Tesco, Marks & Spencer and John Lewis have threatened to boycott Brazillian agricultural commodities over the deforestation of the Amazon. In an open letter published today the retailers said they will take action if Brazil’s government passes a law expanding property rights for squatters on public land. Campaigners have warned that [...]
Airline passenger numbers creep higher as holidaymakers await green light May 5, 2021 Covid-19 passenger restrictions continued to squeeze airlines’ passenger numbers in April, a year on from the start of the pandemic, although there were some chinks of light for the sector. Ryanair said it flew 1m people last month, twice as many as it did in March, but still millions short of its normal capacity. Compared [...]
Hipgnosis buys up Dua Lipa and Justin Bieber songwriter’s back catalogue May 5, 2021 Hipgnosis has bought the catalogue of songwriter and producer Andrew Watt as the music investment firm continued its spending spree. Watt recently won producer of the year at the 2021 Grammy Awards for his work with artists including Justin Bieber, Miley Cyrus and Dua Lipa. Hipgnosis’ acquisition binge shows no sign of slowing down, after the [...]
Fewer car sales and new drivers hits brakes on Direct Line growth May 5, 2021 Insurer Direct Line today said that low levels of new car sales and fewer new drivers led to deflationary market conditions during the first quarter. The firm’s total group premiums fell 4.7 per cent year-on-year to £752.3m, with motor premiums plummeting 10.6 per cent to £367.3m. Elsewhere, Direct Line continued to deliver growth in its [...]
European Super League: JP Morgan boss admits investment bank failed to grasp football fans’ passion May 5, 2021 JP Morgan’s boss has admitted that the investment bank had failed to understand the passion of football fans when it agreed to finance the failed breakaway European Super League. Chief executive Jamie Dimon said the US banking giant had “kind of missed” the strength of feeling among football supporters before it agreed to fund around [...]
Virgin Money swings to profit on lower bad loan provisions May 5, 2021 Banking group Virgin Money today said it had improved half-year earnings after setting aside less cash to cover Covid-driven loan losses. The bank reported statutory pre-tax profit of £72m the six months ended 31 March, compared to a £7m loss a year earlier when it hade hefty provisions for potential bad loans. Virgin Money took [...]
Boohoo sales and profits surge after fast fashion retailer ups loungewear and activewear offering during pandemic May 5, 2021 Fast fashion retailer Boohoo reported a spike in sales and profit last year after refocusing its product offering on loungewear and activewear during the coronavirus pandemic. The e-commerce giant announced this morning that revenue surged 41 per cent in the year ended 28 February 2021, with sales jumping from £1.23bn to £1.75bn. Profit before tax [...]
High Court rules against hospitality bosses on indoor closures May 5, 2021 Hospitality bosses have lost their legal battle for a quicker reopening of indoor hospitality in England. Punch Taverns founder Hugh Osmond and Sacha Lord, the night-time economy adviser for Greater Manchester, brought a case against the government challenging the current rules. Lord and Osmond said there was no justification or scientific bias for pubs and [...]
Over 50s to be offered third Covid ‘booster’ jab to eradicate risk of virus before Christmas May 5, 2021 Over 50s could reportedly be offered a third Covid “booster” vaccination this autumn in a bid to eradicate the threat of the virus before Christmas. Chris Whitty, the chief medical officer for England, is currently supervising two trials, with one involving a jab modified to protect against new variants. The other trial involves a third [...]
