Legal & General backs activist investor over Exxon climate concerns May 11, 2021 Legal & General, one of Exxon Mobil’s major investors, has said it will back an activist hedge fund at Exxon’s shareholder meeting later this month, after the fund raised climate-related concerns about Exxon’s practices. US oil producer Exxon is battling hedge fund Engine No. 1 over four seats on its 12-member board and the direction [...]
Extinction Refinancing: Banks are the next generation of climate activists withholding funding for carbon-heavy businesses May 11, 2021 Banks are unlikely to be the first group that comes to mind when thinking of climate activists. Although there is now immense and growing pressure on every area of the financial community to drive down emissions and lead the transition to a low-carbon economy, banks often seem to face the most scrutiny. A massive 92 [...]
Posh paint brand Farrow & Ball bought by Danish company in €500m deal May 11, 2021 Luxury paint and wallpaper company Farrow & Ball has been bought by Danish coatings manufacturer Hempel, in a deal that values the paint retailer at around €500m. Hempel bought Farrow & Ball from American private equity group Ares Management Corporation, which reportedly paid £275m for the company in 2014. Today The Financial Times first reported [...]
‘Can I give you lunch?’ David Cameron sent more than 40 messages to ministers and officials to lobby for Greensill May 11, 2021 David Cameron complained that a decision to exclude failed Greensill Capital from a government bailout programme was “bonkers” and “nuts” in a spray of more than 40 texts and emails to ministers and officials, new documents today revealed. Evidence compiled by the Treasury Select Committee for an inquiry show Cameron messaged ministers, Treasury civil servants [...]
Government outlines new voter ID law and plan to give PM power to call early election in Queen’s Speech May 11, 2021 The government has outlined its plans to force voters to produce ID at polling stations and to give the Prime Minister back the power to call early elections in today’s Queen’s speech. The Queen said a suite of new government legislation “will strengthen and renew democracy and the constitution”, including “to ensure the integrity of [...]
Wall Street closes lower on inflation jitters May 10, 2021 Wall Street closed lower on today as inflation fears drove investors away from market-leading growth stocks in favour of cyclicals, which stand to benefit most as the economy reopens. Industrial and healthcare shares limited the Dow’s decline but the blue-chip average reversed course late in the session to snap a three-day streak of record closing [...]
Recruitment drive to launch for next Commissioner of the City of London Police May 10, 2021 The City of London Corporation’s Police Authority Board (PAB) will begin a recruitment drive for the next Commissioner of the City of London Police (City Police) next week. The appointee will replace Commissioner Ian Dyson, who has announced his planned retirement after 38 years of distinguished service in policing. Commissioner Dyson will be leaving the [...]
Vaccine patents: When does free for all become a free-for-all? May 10, 2021 As the UK begins to see the light at the end of the Covid tunnel, at least in terms of mass vaccination and the lifting of most personal restrictions, the virus has hit the headlines anew elsewhere in the world. Its virulent spread in India has been the most eye-catching and heart-rending, with deaths topping [...]
BNP Paribas urges investors to pressure politicians on climate rules May 10, 2021 Bank BNP Paribas has begun urging investors to press politicians to commit to the Paris Agreement with policy and make rules for net-zero targets. Investors are failing to chase strong climate policies, global head of sustainability at BNP Paribas Asset Management, Jane Ambachtsheer, told Bloomberg. Instead of chasing policies, however, investors should start chasing politicians [...]
Exclusive: The City’s hunger for success and willingness to push boundaries is infectious, says tech guru May 10, 2021 Since the start of the pandemic, the entire economy and its workforce have moved online, with technology and digital tools keeping many businesses going. Jeremy Silver, CEO of Digital Catapult, a digital technology innovation firm based in Camden Town, has helped UK businesses small and large and across various industries to be more competitive online [...]