Pfizer hikes cost of Covid vaccine for EU by 60 per cent April 13, 2021 Pfizer has hiked the cost of future orders of its coronavirus vaccine placed by the European Commission more than 60 per cent. Bulgarian Prime Minister Bokyo Borissov this morning said the US pharmaceutical giant has increased the cost of future orders sold to the EU from €12 per dose to €19.50. Borissov added that the [...]
Banks start process to claw back billions from Covid loans April 12, 2021 Some of Britain’s biggest lenders have begun sending letters to customers, warning them that repayments for crisis loans will soon be expected. HSBC, Barclays, NatWest and Lloyds have each begun sending letters to customers, the Mail on Sunday first revealed, with the first set repayments due to start in just two weeks. Banks handed out [...]
COP26: Is the City ready for its leading role in the fight against climate change? April 10, 2021 Windows were smashed at Barclays headquarters this week by climate activists who urged the bank to cut its climate destructive investments. Last week campaigners painted the Bank of England (BoE) black in a bid to raise the alarm on the institution’s funding of Big Oil. Where money goes within the City is under more scrutiny [...]
S&P 500 and Dow climb for third day and close at records April 9, 2021 The S&P 500 and the Dow rose to close at record highs, posting a third straight weekly rise partly on lift from growth stocks, with a late-day rally building gains ahead of quarterly earnings season next week. The Dow Jones Industrial Average rose 299.21 points, or 0.89 per cent, to 33,802.78, the S&P 500 gained [...]
Exclusive: The City will emerge strong from Brexit, says impact investment whizz April 8, 2021 One of the hottest trends within the City’s investment community lately has been impact investing; capital flowing into companies, entities and funds with the intention to generate a measurable, beneficial social or environmental impact. To many institutional investors and pension funds, impact investments are increasingly becoming the standard so this type of investments is more [...]
Jackpot: Betfred punter bags £1.7m after High Court battle April 7, 2021 An online blackjack player has won a victory in the High Court today after gambling giant Betfred refused to pay out his £1.7m jackpot winnings. Andrew Green won £1.7m in January 2018 while playing a blackjack game on his phone. But the bookmaker refused to pay out, saying a software glitch meant that the game [...]
Big Pharma: How much will companies make off their Covid vaccines this year? April 7, 2021 There’s money to be made in vaccines. Before the pandemic, US pharmaceutical firm Moderna had never made a profit and employed just 830 staff. This morning, its $30-a-dose Covid vaccine was administered to the first patient in the UK, after widespread distribution across the States. On the same day, Stéphane Bancel, the French chief executive [...]
Pod Point hires Bank of America to help with float plan – report April 7, 2021 Electric vehicle charging firm Pod Point has reportedly brought on Bank of America to work on a potential stock market float. According to Sky News, the firm could go public at some point this year, with Bank of America working together with Barclays on the deal. Pod Point is majority owned by French energy giant [...]
City Moves: Who’s switching jobs in the Square Mile this week? April 7, 2021 Snakes and Ladders provides a roundup of the most important hires and job moves across the City, every Wednesday afternoon. Email citymoves@cityam.com to be featured. Tharsus adds former CEO of Dyson to its board Robotics company Tharsus has appointed former Dyson CEO to its board as a non-executive director this week. Martin McCourt, whose career spans four decades, [...]
Barclays condemns climate activists’ protest following smashed windows in Canary Wharf April 7, 2021 Barclays has responded to the protests outside their London headquarters this morning, urging Extinction Rebellion to halt any “criminal damage to our facilities and [putting] people’s safety at risk.” Climate change protestors broke windows at the London headquarters of Barclays in Canary Wharf earlier earlier this morning. The activists from the Extinction Rebellion group reportedly [...]