The City View: Offshore Energies UK CEO on deleterious effects of a windfall tax May 25, 2022 Today Andy Silvester chats to Deirdre Michie, CEO at Offshore Energies UK. They unpick the windfall tax, the risk it poses for smaller energy firms and the sector in general, the state of the energy industry, and the seemingly lackadaisical speed of the energy transition. In other news: M&S is leaving its Russian franchise business, [...]
European chemical companies could take a hit as valuations decline amid soaring commodity prices May 25, 2022 Investment guidance for European chemicals companies is too optimistic, warned financial services group Morningstar.
Nike joins Starbucks and McDonald’s in exiting Russia as it cuts ties with franchisee May 25, 2022 Trainers titan Nike has become the latest US household name to exit Russia, as it confirmed it had not renewed agreements with its largest franchisee there. According to the Vedomosti daily newspaper, Inventive Retail Group (IRG), which oversees Nike’s stores in Russia via the subsidiary Up And Run has confirmed Nike is no longer supplying [...]
Government approves £4.25bn sale of Chelsea May 25, 2022 The government has given its approval to a £4.25bn takeover of Chelsea by a US consortium, concluding a two month saga at the West London club.
Grab ’em by the Porsche: EU plans to confiscate and sell Russian oligarchs’ cars, villas and other assets May 25, 2022 The EU’s executive body, the European Commision, is planning to roll out proposals to allow EU countries to confiscate assets belonging to Russian oligarchs, and then to sell them off. Assets that are currently frozen by authorities across EU member states should be sold, rather than merely frozen, two EU officials told the publication Politico. [...]
Chelsea £4.25bn takeover satisfies Premier League owner’s test May 24, 2022 The Chelsea takeover bid led by Todd Boehly’s consortium has passed the Premier League owner’s and directors test. The move ticks yet another box on the list that, once completed, will see the Premier League outfit change hands from sanctioned owner Roman Abramovich. The Boehly bid has not gone through, however, as it remains dependant [...]
European round up: Germany puts coal power on standby while EU pushes for Russian oil ban May 24, 2022 Germany is preparing to extend the life of coal-fired power stations which would have been discontinued over the next two years.
Accountancy firms ask for exemptions from ban on providing services to Russia May 24, 2022 Accountancy firms have asked the UK government to offer exemptions to professional services firms from rules blocking them from working with Russian clients. The calls come after the government this month set out plans to block British accountants, business consultants, and PR managers from providing their services to Russians, in response to the country’s invasion [...]
Hornet to give Whyte and Hewitson followers a Super buzz May 24, 2022 TRAINER Douglas Whyte and jockey Lyle Hewitson are a red-hot partnership to follow at present. The duo, who have combined with 14 winners this season, can’t seem to stop visiting the winners’ circle this month. Whyte has trained half-a-dozen winners from his last 38 runners, and added another Group One victory to his CV when [...]
EC chief Von Der Leyen lashes out at Putin as she calls out ‘Russia’s blackmail’ on food and fuel May 24, 2022 Ursula von der Leyen, President of the European Commission, today denounced Russian aggression and its use of “hunger and grain to wield power”, in an address at the World Economic Forum in Davos. “Global cooperation is the antidote to Russia’s blackmail,” she said. Her message focused on strategic priorities for Europe since the invasion. Boosting military spending [...]