A good time to re-assess the value of ESG investing April 11, 2022 No City earnings call, annual report, or even chief executive interview is now complete without a mention of what a firm is doing to meet its ‘ESG goals.’ At times this has bordered on the ludicrous: Terry Smith, the legendary investor, found a warm audience to his critique of Unilever attempting to define the purpose [...]
Mothercare delays pension deficit payments after disruption of Russian operations April 11, 2022 Mothercare said it would be posting a higher than expected profit on Monday. In a pre-close trading update, the baby-clothes seller said it expected that EBITDA before adjusting items would be in the range of £11.5m to £12m for the year to 26 March. The retailer’s share price fell by a dramatic seven per cent [...]
Ukraine braces for renewed Russian offensive in the East April 11, 2022 Vladimir Putin is gearing up for a renewed offensive in the East of Ukraine as the town of Mariupol braces for what could be its last stand against Russian forces. Ukrainian President Volodymyr Zelensky today said “we are ready” for Russia’s push to take the entire Donbas region, which the Kremlin hopes will rejuvenate its [...]
Oil prices slump below $100 as IEA floods market and Shanghai lockdown cuts demand April 11, 2022 Oil prices have plummeted four per cent on both major benchmarks, with prices below $100 per barrel again after last month's rallies.
Ukraine’s president Zelensky: ‘Tens of thousands’ are dead in eastern city of Mariupol April 11, 2022 “Tens of thousands” have been killed in the besieged eastern Ukrainian city of Mariupol, the country’s president has claimed. Vlodymyr Zelensky made the remarks while addressing South Korea’s parliament virtually, pleading for more help “if we are to survive” the Russia onslaught. This comes after the Boris Johnson visited Kyiv on the weekend to offer [...]
Tory backbencher calls on government to close ‘loopholes’ letting London firms work for the Kremlin April 11, 2022 Tory backbencher Kevin Hollinrake has called on the government to close the “loopholes” that have allowed UK professional services firms to continue carrying out bankruptcy proceedings on behalf of the Russian state. In a letter to Rishi Sunak, the Conservative party MP accused accountancy giant Grant Thornton, litigation funder Harbour, and London law firm CMS [...]
Investors question ESG label in wake of Ukraine war April 11, 2022 Top investors are reconsidering environmental, social and governance investment strategies as scrutiny of the label grows in the wake of Russia’s invasion of Ukraine.
‘Cosmic’ borrowing costs stop Russian bond sales as debt teeters on brink of default April 11, 2022 “Cosmic” borrowing costs have forced Russia to stop bond sales for the rest of the year, as its debt teeters on the brink of defaulting. Sanctions on the Kremlin continued to bite, as its finance minister revealed drastic action this week. This comes after Western sanctions forced it to pay bondholders in roubles, despite it [...]
UK inflation to accelerate to highest rate since March 1992 April 11, 2022 Inflation in the UK will soar to its highest level since March 1992, intensifying an already tight cost of living squeeze that is hitting households, according to City experts. Accelerating food and energy prices stoked by Russia’s invasion of Ukraine will propel inflation higher, fresh estimates released by the Office for National Statistics (ONS) on [...]
13 days that will define the future of France: Macron and Le Pen begin ruthless battle to become president April 11, 2022 Centrist Emmanuel Macron was heading this morning to an economically depressed area of northern France where a majority of voters chose his opponent, far-right candidate Marine Le Pen, close to her electoral stronghold of Henin-Beaumont. Meanwhile, Ms Le Pen’s National Rally officials will meet today to plan strategy ahead of the second round of voting, [...]