Bitter clash at Astrazeneca as 40 per cent of shareholders reject CEO pay package May 11, 2021 A share bonus hike for Astrazeneca’s chief executive was only narrowly approved in a vote where nearly 40 per cent of the pharma’s shareholders rejected the proposed pay package. The pharmaceutical giant did pass the proposal, however, which could take Pascal Soriot’s total pay, including a £1.3m salary, above the £15.4m he received last year. [...]
Astrazeneca shareholders in row over chief executive’s £2.3m bonus hike May 9, 2021 Astrazeneca shareholders have been plunged into a bitter row over plans to hike chief executive Pascal Soriot’s pay by £2.3m. The French pharma boss has been praised for rolling out the company’s Covid-19 vaccine at cost price, as well as driving up its share price since he took over in 2012. But major shareholders have [...]
Activist investor sells stake in Barclays May 7, 2021 Activist investor Edward Bramson has sold his firm’s 6 per cent stake in Barclays, ending a three-year campaign against the bank. Since 2018, Bramson’s fund, Sherborne Investors, pressured Barclays CEO Jes Staley to scale back investment banking, and demanded his removal over his links to US financier and registered sex offender Jeffrey Epstein, but Bramson struggled [...]
London remains one of the world’s leading green finance centres April 29, 2021 London has held on to one of the top spots for green finance quality in Z/Yen’s latest index, but Western Europe’s overall dominance is starting to slip. In its Global Green Finance Index (GGFI), the City of London think tank ranked 78 financial centres across the world for their public, private and nonprofit investment in [...]
City fund managers discuss post-pandemic opportunities, with NatWest, Lloyds and BP topping the list April 28, 2021 As the economy slowly recovers from what has been a dramatic year, and investors gradually dare to think again about growth and investment, City A.M. checked in with a number of prominent Square Mile-based fund mangers to find out where they spot opportunities as London’s investment community starts to shake off the pandemic. Banking, energy [...]
Exclusive: Boris Johnson faces calls from business leaders to commit to net zero financial system April 27, 2021 A group of business leaders have written to Boris Johnson asking him to commit the UK to developing a net zero financial system ahead of this year’s COP26 climate summit. The letter, which has been seen by City A.M., said that such a move would allow the Britain to show off its global leadership before [...]
Economy shows green shoots of recovery as dividends fall at slowest rate in a year April 26, 2021 UK dividends fell at their slowest rate in the first quarter in an encouraging sign the economy is starting to recover from the worst of the pandemic. Payouts fell 26.7 per cent to £12.7bn in the first quarter year-on-year, according to Link Group’s latest Dividend Monitor. Since the nearly 50 per cent drop in payments [...]
Hospitality groups gear up to take on insurers over business interruption cover April 23, 2021 Hospitality companies hit hard by the pandemic are forming groups to take on their insurers, in the hope of receiving business interruption cover they believe they are owed. The hospitality businesses involved believe they are owned payouts from their insurers after the coronavirus and subsequent restrictions left them unable to serve customers for months at [...]
Financial services leaders team up to launch net zero alliance April 21, 2021 Leading financial services firms have today announced the launch of a new alliance to reach net zero emissions ahead of President Biden’s climate summit. The Glasgow Financial Alliance for Net Zero (GFANZ) will bring together existing and new net zero initiatives and will be made up of 160 of the world’s biggest banks, asset managers [...]
Leading investors call on banks to set tougher net zero targets April 19, 2021 A group of investors managing $11 trillion in assets is calling on banks to set radically enhanced emissions targets ahead of a key meeting aimed at tackling climate change. The group, which includes Aviva Investors and Legal & General Investment Management, said banks have a “critical role” in aligning the economy with net zero targets. [...]