Extinction Rebellion: City of London to be next climate campaign target August 19, 2021 Environmental activists have said they will begin a fresh campaign next week in the heart of the capital’s financial district. The fortnight-long campaign targets the City of London, which Extinction Rebellion activists blame for stoking climate change with fossil fuel investment chains. Extinction Rebellion (XR) has regularly staged demonstrations across the UK – targeting banks [...]
First of its kind: Energy giant Wood secures £430m green transition loan August 19, 2021 London-listed energy and engineering giant Wood has secured a £430m government-backed green transition loan – the first of its kind in the fight against climate change. Firms operating in the UK’s “industrial heartlands”, like Aberdeen-headquartered Wood, will be backed by the government in its bid for net zero emissions by 2050, the government said in [...]
Fresh landscape: Marshalls financials climb past pre-pandemic levels August 19, 2021 The financials at landscaping products group Marshalls have begun to surpass pre-pandemic levels, after the group watched operating profits collapse amid lockdown last year. Revenue hit £298.1m in the six months to 30 June, inching past the £280.1m it recorded in 2019. The group posted a profit before tax of £38.9m as it again surpassed [...]
Metals group En+ reaps rewards of commodity price surge with $6.5bn revenue August 19, 2021 Energy and metals group En+ has reaped the benefits of the pandemic-induced commodity price surge as its revenue has jumped to $6.5bn in the past six months. The Anglo-Russian group has seen its revenue climb 31.5 per cent in the six months to 30 June, up from $4.9bn in the same period last year. Shares [...]
Goldman Sachs doubles managed assets to over $600bn with latest deal August 19, 2021 Goldman Sachs is set to buy Dutch insurance group NN’s asset management division for some €1.7bn – the Wall Street giant’s biggest acquisition since 2018. The deal for asset management arm NN Investment Partners (NNIP) forms part of Goldman Sachs boss David Solomon’s strategy to make the bank’s revenues less reliant on global markets and [...]
DP World profits surge as it earmarks $1.2bn for global investments August 19, 2021 Logistics giant DP World has seen its profits surge in the past six months, as it earmarks $1.2bn worth of capital expenditure for the rest of the year – with a portion going to the UK’s London Gateway and P&O Ferries. Revenue hit $4.94bn in the six months to 30 June, up 21.3 per cent [...]
City Moves: Who’s switching jobs in the Square Mile this week? August 18, 2021 City A.M.’s Millie Turner provides a roundup of the most important hires and job moves across the City, every Wednesday afternoon. Email citymoves@cityam.com to be featured. London First completes leadership shuffle Business lobby organisation London First has strengthened its leadership team this week as it channels its focus on the capital’s return to growth, emerging from the pandemic. Former director of corporate [...]
Politico owner eyeing $1bn in deal with German publishing giant Axel Springer August 18, 2021 The owner of news site Politico is reportedly looking to rally as much as $1bn in a potential deal with the German publishing giant Axel Springer. The talks with Axel, led by its owner Robert Allbritton, have circled a potential investment or an outright sale, the New York Times first reported. The deal would gift [...]
Sturdy returns: World’s largest wealth fund swells by $111bn in just six months August 18, 2021 The world’s largest sovereign wealth fund has pulled in $111bn in the first six months of this year, some 0.28 per cent higher than the fund’s benchmark index. The $1.4 trillion Norwegian fund, Norges Bank Investment Management, posted a 9.4 per cent return on investments in its half-year financials, as the value of its equities [...]
Man hunt? No, job hunt: Cressida Dick to be offered contract extension before exiting Met police August 18, 2021 Home secretary Priti Patel is reportedly planning to offer Metropolitan police commissioner, Dame Cressida Dick, a contract extension as commissioner candidates run dry. Dick’s successor will be tasked with overhauling Britain’s biggest police force after a string of controversies. Although no final decisions have yet been made, sources from the Home Office told The Times [...]