EU to ween off Russian oil within six to eight months June 3, 2022 The European Union (EU) has green lit a sixth round of Russian sanctions today, as Ukraine marks its 100th day since Russia’s invasion. “The Council decided today to impose a sixth package of economic and individual sanctions targeting both Russia and Belarus,” the EU Council said in a press release today. The EU plans to [...]
Playtech’s billionaire founder to sell Camden Market estate for £1.5bn June 3, 2022 Popular tourist destination Camden Market is reportedly undergoing a quiet sale process, which could fetch its billionaire owner around £1.3bn. While Israeli magnate and Playtech founder Teddy Sagi is hoping to bag £1.5bn for the 16-acre estate – which includes three markets – he has not put a firm price tag on the deal, the [...]
Ukraine mulls extra import duty as it hikes interest rate to seven-year high June 2, 2022 Ukraine’s central bank is considering bringing in an extra import duty on non-critical imports, having hiked its main interest rate to a seven-year high. The country has increased interested rates from a previously frozen 10 per cent to 25 per cent today, in the first tightening of policy from the National Bank of Ukraine (NBU) [...]
OPEC+ hikes summer oil production targets, bringing September lift forward June 2, 2022 OPEC+ has hiked its production quotas for July and August, the oil organisation said in a statement today, having already lifted its target for next month. The organisation, which consists of the Organization of Petroleum Exporting Countries and allies including Russia, has committed to boosting output by a further 648,000 barrels per day – bringing [...]
Richest in Japan: Uniqlo founder’s wealth collapses by 44 per cent since start of the year June 2, 2022 The billionaire founder of high street fashion brand Uniqlo has lost nearly half of his wealth since the beginning of the year. The staggering 44 per cent loss, revealed yesterday in Forbes’ list of the 50 richest people in Japan, has been spurred by a sales slowdown in Japan and China, which has hit Uniqlo [...]
First of its kind: India mulls social media appeals panel to take on Big Tech June 2, 2022 India is mulling the decision to set up an appeals panel which would take on Big Tech content decisions – and be the first of its kind worldwide. Appeals against company grievance offers, who are currently responsible for content moderation decisions at social media companies, have a 30-day deadline to be submitted. However, the appeals [...]
‘That won’t lower our bills’: Greenpeace slams government for new gas field approval June 2, 2022 Greenpeace has slammed the UK government’s decision to grant Shell a permit for a new gas field, saying it will fail to cut energy bills which are set to rise again this October. The Jackdaw field, part of the major North Sea development, cleared its final regulatory hurdle yesterday, business and energy secretary Kwasi Kwarteng [...]
TR Property makes ‘sizeable gains’ from private equity real estate takeovers June 1, 2022 TR Property Investment Trust has been given a leg up thanks to the stream of private equity investment being funnelled into the European real estate market over the past year. Chairman of the London-listed firm David Watson said today that private equity investment into real estate “continues to be elevated” and that the Trust has [...]
GSK’s split healthcare division Haleon to list on London’s main market in July June 1, 2022 British pharmaceutical giant GlaxoSmithKline (GSK) has successfully split from its consumer healthcare division, which will list separately on the London Stock Exchange this summer. The division, now known as Haleon, will enter London’s main market on 18 July, GSK confirmed in a regulatory update today, as it awaits a response on its application to the [...]
Analysts trim target price at Parsley Box as ready meal firm cuts losses June 1, 2022 Analysts have cut their expectations of ready meal business Parsley Box, despite the firm trimming its losses. Parsley Box’s adjusted earnings before interest, tax, depreciation and amortization (EBITDA) is around 10 per cent better than management expectations for the five months to 31 May, the company said in a statement today. Losses have been cut [...]