Commerzbank embarks on revamp as loss deepens to record level February 11, 2021 Germany’s second biggest bank reported a record $3.3bn fourth-quarter loss on Thursday as it continued to absorb the fallout of the Covid-19 pandemic. Shares in Commerzbank fell nearly 6 per cent in mid-morning trade. Commerzbank said it would swiftly introduce plans to cut 10,000 jobs and close hundreds of branches in a bid to strive [...]
Shell says peak oil has passed as firm sets course for net zero by 2050 February 11, 2021 Oil giant Shell today declared that it had already passed peak oil production as it announced more stringent plans to eliminate carbon emissions by 2050. At its strategy day this morning, the Anglo-Dutch firm said that its oil production had reached its zenith in 2019, and would fall 1-2.0 per cent every year. It also [...]
Bitcoin + Gold = BOLD February 11, 2021 Tesla announced that they had invested $1.5bn in bitcoin and the price duly surged. Markets are more efficient than many believe, and in recent months, the bitcoin price has responded positively to known investment flows more than anything else. Back in the day, Bitcoin would spike on news that a coffee shop accepted payment in [...]
Native tokens on Cardano February 11, 2021 Last week, IOHK, developers of the Cardano blockchain, updated the platform’s ‘native tokens’ testnet. The upgrade provides multi-asset support, allowing experimenters on the testnet to test and become familiar with utilising cryptocurrencies from other blockchains on Cardano and creating their own tokens prior to mainnet deployment. The update introduces the ability to create ‘native tokens’. [...]
On thin ice: the danger posed by thawing permafrost and how businesses need to prepare February 11, 2021 Rapidly thawing Arctic permafrost is a prime example of how climate change is impacting natural ecosystems and, in turn, business operations. Permafrost is the name for ground that remains frozen for more than two years. It has existed in this region for millennia. Temperatures in Russia have increased by around two and a half times [...]
Entain doubles down on £250m Enlabs bid despite investor backlash February 11, 2021 Ladbrokes owner Entain has doubled down on its £250m cash bid for Swedish rival Enlabs despite complaints from one of the company’s largest shareholders. In a statement today Entain said it was extending the deadline for its offer of 40 Swedish krona per share until 18 March. The gambling group said it had filed applications [...]
Covid crisis is an opportunity to put digital at the heart of our democracy February 11, 2021 It’s official: the long-awaited climax of the London Mayoral race is scheduled for May 6th, when polling stations across the city will throw open their doors for the first time since the start of the pandemic. But in a world now heavily mediated by online interaction, questions must be asked as to why this opportunity [...]
Ex-FCA chief Woolard nabs leadership role at EY February 11, 2021 Chris Woolard, the former interim chief executive at city regulator the Financial Conduct Authority (FCA), has nabbed a leadership role at EY. Woolard will join the Big Four firm in April to lead its EMEIA financial services regulatory capabilities, and chair the EY Global Financial Services Regulatory Network. He will replace John Liver, who currently [...]
Key worker demand for affordable homes boosts sales at MJ Gleeson February 11, 2021 Affordable housing developer MJ Gleeson reported a jump in homes sold in the first half due to demand from key workers and first time buyers. MJ Gleeson said revenue was up 35.8 per cent to £142.6m and profit before tax increased 52.6 per cent to £20.3m. Earnings per share in the six months ended 30 [...]
Relx hikes dividend but warns on exhibitions recovery February 11, 2021 Relx today said it plans to lift its full-year dividend by three per cent after growth in its core analytics business offset a sharp decline in exhibitions. The FTSE 100 group said it had enjoyed continued growth in its science, legal and risk divisions, which make up 95 per cent of its revenue. This mitigated [...]
