Bank of England defends fossil fuel funding to Extinction Rebellion November 14, 2021 The Bank of England (BoE) reportedly tried to appease Extinction Rebellion (XR) protests earlier this year, as the climate activist group targeted City fossil fuel financing. In emails with XR members, the central bank urged that government instead has the “primary levers for driving the economy-wide transition to net-zero emissions”, The Telegraph first reported. In [...]
Schools and construction paused as Indian capital mulls ‘pollution lockdown’ November 14, 2021 Schools in New Delhi have closed for a week, as authorities consider a “pollution lockdown” to protect residents of worsening smog. “Schools will be shut so that children don’t have to breathe polluted air,” chief minister Arvind Kejriwal told reporters on Saturday. The minister added that that the capital’s construction activity would also be paused [...]
Shareholder payday on the horizon? Lord Cruddas’ CMC Markets mulls split November 14, 2021 Tory peer Lord Cruddas is reportedly looking into splitting up his CMC Markets into two London-listed firms. The separation could be announced within days, Sky News’ Mark Kleinman reported, creating a leveraged trading business as well as a non-leveraged technology and investment products platform. The move could see shareholders, including Lord Cruddas with his 62.5 [...]
Nearly 70 per cent of Londoners suffering from ‘productivity anxiety’ November 12, 2021 Nearly 70 per cent of Londoners have been suffering with ‘productivity anxiety’ since emergency pandemic measures have eased. The majority of those reporting such anxiety or ‘stress overload’ has jumped since work from home guidance lifted and the UK has edged closer towards ‘normality’, according to new research. The pandemic gave Brits an opportunity to [...]
Landsec and Blackstone ink near £200m London property deal November 12, 2021 Land Securities Group has inked a nearly £200m deal with Blackstone to sell off its London property Harbour Exchange, a data centre which hosts offices. The £196.5m move forms part of Land Securities’ wider portfolio reshuffle plans – after the pandemic diluted the valuations of some retail and office spaces. “Through this disposal, we [...]
Wealthy foreign investors push pedal on UK property purchases November 12, 2021 Foreign ownership of homes in England and Wales has reportedly nearly tripled over the past decade, as wealthy investors eye the UK’s coveted property portfolio. Nearly 250,000 homes in England and Wales have been registered with overseas-based buyers, a figure which has swelled from fewer than 88,000 homes in 2010, according to the Consumer Financial [...]
MPs accused of renting out London homes with taxpayer cash November 12, 2021 Fourteen MPs have been accused of renting out homes using a parliamentary expenses scheme loophole while letting out properties they own in London. It gives the ministers a comfortable side income of at least £10,000 a year, while they use taxpayers’ money to rent other property in the city, The Times reported. Former attorney general [...]
City Moves: Who’s switching jobs in the Square Mile today? November 12, 2021 City A.M.’s Millie Turner provides a roundup of the most important hires and job moves across the City, every morning. Email citymoves@cityam.com to be featured. BGF Business Growth Fund (BGF) has appointed a new head of ESG and sustainability, who will be tasked with embedding the new investor focus into the fund’s new and existing portfolio companies. Roshni Bandesha has spent the [...]
Shares dive: Johnson Matthey appoints new CEO and exits battery materials November 11, 2021 Chemicals giant Johnson Matthey has confirmed that its current boss is stepping down, which tipped a share price dive of more than 19 per cent today. The London-listed firm also announced that it will be exiting its battery materials business – despite noting the accelerating demand for such goods in its latest trading update. Current [...]
Slim pickings: Frozen turkeys dwindle amid labour shortage and consumer spending splurge November 11, 2021 There is slim availability of frozen turkeys, which prompted fears over Christmas after Covid-19 curbed festivities last year, according to the latest research. Around 18 per cent of stores stocking the Christmas dinner staple in the UK had either “low” stock or “none” at all, market researcher Kantar found, although supplies have increased slightly since [...]