Total sells Canadian oil sands operation to Suncor Energy in £3.3bn deal April 27, 2023 Energy major Total Energies has accepted an offer to sell its carbon-heavy Canadian oil sands operations to Suncor Energy for £3.3bn.
US economic growth slows in first quarter as weekly jobless claims fall April 27, 2023 U.S. economic growth slowed more than expected in the first, despite an increase in consumer spending, and activity is set to moderate further as the effects of higher interest rates spread. Gross domestic product increased at a 1.1 per cent annualized rate last quarter, the Commerce Department said in its advance estimate of first-quarter GDP growth on Thursday. [...]
‘I knew I wouldn’t be loved’: The FCA’s ESG chief talks ruffling feathers in the fight against greenwashing April 27, 2023 ESG has become the City’s favourite acronym over the past three years and almost every boss and investment manager has scrambled to plant their flag on the standards as closely as they possibly can. But those claims and labels don’t always stand up to scrutiny. Greenwashing is running rampant. Clean and green claims are being [...]
Netflix’s £2bn gamble on South Korea and a new Squid Game is an unlikely nuclear deterrent April 27, 2023 Netflix's £2bn investment in South Korea isn't only about entertainment; it also shows South Korea's soft power works in uniting the West against a possible attack from North Korea, writes Leon Emirali
Pernod restarts exports of Beefeater gin to Russia – but Absolut vodka still contraband April 26, 2023 The world’s second-largest wine and spirits seller Pernod Ricard has restarted exports to Russia but insists it’s “not business as usual”. Beefeater gin will once more be drank in Moscow bars following the decision which was condemned by the Moral Rating Agency as “disgusting as it is ironic”. The company insisted it stands “firmly with [...]
US Bitcoin Policy Summit: It’s time for the US to embrace crypto April 26, 2023 Ahead of the US Bitcoin Policy Summit, Nigel Green sets out some ideas for senators and congressional leaders to consider.
Man Group records $1bn net inflows as investors jitters ease April 26, 2023 Hedge fund Man Group notched more than $1bn of net flows into its funds in the first three months of the year and bumped up its assets under management as investors edged back into the market after a turbulent 12 months.
British American Tobacco to pay over £512m in North Korea sanctions case April 25, 2023 British American Tobacco has agreed to pay more than $635m (£512m) to US authorities after a subsidiary pleaded guilty to charges that it conspired to violate US sanctions by selling tobacco products to North Korea and commit bank fraud, a US court filing and the company said on Tuesday. The tobacco sales at the heart [...]
Did pumping cash into the economy fuel inflation surge? Bank top official says claim ‘not well supported by evidence’ April 25, 2023 Claims the Bank of England caused the worst inflation surge in the UK for more than 40 years by printing money are “not well supported by the evidence,” one of its top officials said today. Ben Broadbent, a deputy governor at the Bank, hit back at critics in a speech at Britain’s oldest economic think [...]
Jeremy Hunt handed £13bn windfall raising chance of tax cuts ahead of election April 25, 2023 Chancellor Jeremy Hunt has been handed a £13bn windfall from the UK public finances holding up better than expected, raising the chances of tax cuts ahead of the next general election, official figures out today reveal. Numbers from the Office for National Statistics (ONS) this morning showed the UK borrowed around £139bn in the year [...]