Johnson & Johnson spins off consumer business in historic company shake-up November 12, 2021 Johnson & Johnson will spin off its consumer health business in a massive company shake-up. It will continue to develop pharmaceuticals and medical devices, but will create a new publicly traded company to sell household products. The separation reflects the growing divergence between the slow-and-steady world of selling shampoos, mouthwash and moisturisers, and the high-risk [...]
Record petrol prices reach new highs amid supply shortages November 12, 2021 Petrol prices topped 146p for the first time ever on Thursday, according RAC Fuel Watch. The motoring group’s data shows the average price of petrol has topped 146p a litre for the first time ever. Diesel is also at an all-time high of 149.66p. Chancellor Rishi Sunak’s has pledged to freeze fuel duty for the [...]
Oil prices fall again amid fears of US interest rate hikes November 12, 2021 Oil prices slumped on Friday afternoon amid swirling rumours of impending interest rate hikes and President Biden releasing stored supplies. WTI Crude plummeted 1.89 per cent to $80.03 a barrel, while Brent Crude futures dropped 1.69 per cent to $81.49, wiping out gains from the past week. Both benchmark crude contracts were poised to end [...]
COP26: Calls to end fossil fuel subsidies absent from climate pact November 12, 2021 The latest draft of the COP26 climate pact does not call for fossil fuel subsidies to end, according to Bloomberg. The text even weakens demands for a phase-out of fossil fuels subsidies and coal. It now calls for the phase-out of “unabated” coal power and of “inefficient” subsidies for fossil fuels. That draft waters down [...]
Toshiba proposes historic break-up plan amid pressure from activist shareholders November 12, 2021 Toshiba is breaking up its empire and is splitting into three separate companies amid growing pressure from activist investors. The Japanese giant will house its hard drives and semiconductors in one company, and its energy and infrastructure holdings in another. It’s 40.4 per cent stake in flash-memory chip company Kioxia Holdings will form the basis [...]
AstraZeneca sales jump 50 per cent as vaccine crawls to profitability November 12, 2021 AstraZeneca’s revenues have soared 32 per cent this year to $25.4bn, powered by booming product sales. Third quarter revenues are up 50 per cent, with the pharmaceutical giant enjoying a $9.87 billion increase in revenues over the three-month period. The company has sold 2.2 billion vaccines since the start of the year. It has now [...]
Fuel Power: Ministers could gain control of downstream oil amid petrol price crisis November 12, 2021 A cross-party group of MPs has conditionally backed a government bill giving ministers control over the downstream oil industry. The Business, Energy and Industrial Strategy (BEIS) committee has lent its support to government plans allowing ministers to take control of importing, storing and supplying petroleum products in the UK. Powers include the right to request [...]
Belarus threatens to cut off Europe’s gas supplies November 11, 2021 The energy supply crisis has moved from crisis to crisis and tyrant to tyrant after Alexander Lukashenko threatened to cut gas into Europe via Belarus, if the EU imposes further sanctions on his country for its treatment of migrants. The threat was enough for prices to rise again following a brief reprieve earlier this week [...]
Assura to raise £190m after 58 per cent rise in profits November 11, 2021 Healthcare property investor Assura is continuing its portfolio expansion plans with a proposed £190m equity placing. The proceeds will fund the company’s short term property pipeline which includes £72m for on-site developments and £102m in acquisition opportunities. This follows the company reporting a 58 per cent increase in profit before tax in its interim results [...]
FW de Klerk: South Africa’s last apartheid president dies aged 85 November 11, 2021 FW de Klerk, South Africa’s last apartheid president who oversaw the end of white-minority rule, died on Thursday morning at his home in Cape Town. He was diagnosed with mesothelioma in March earlier this year, a cancer that affects the tissue lining the lungs. His passing was confirmed in a statement from the FW de [...]
