IEA urges India and China to put climate pledges into action as coal power generation reaches record levels December 17, 2021 The International Energy Agency has called on China and India to reduce coal power generation, describing both countries as “holding the key to future coal demand".
Musk close to 10 per cent target after offloading 934,000 shares December 17, 2021 Tesla’s chief executive and serial entrepreneur Elon Musk has sold almost $14bn worth of shares, getting closer to selling 10 per cent of his total Tesla holdings. According to SEC filings, the chief executive yesterday offloaded 934,091 stocks for $884.1m. Musk’s latest selling round was made to pay for taxes on the exercise of stock [...]
BP and Maersk Tankers team up to trial marine biofuel in decarbonisation push December 17, 2021 Product tankers powered on biofuels produced from recycled cooking oils have travelled from Netherlands to West Africa as part of BP-Maersk trials.
Shares jump by a fifth as Bidstack signs two year deal with Azerion December 17, 2021 Advertising company Bidstack has seen shares jump 20 per cent after it announced a deal with digital entertainment platform Azerion
Johnson Matthey to sell health division for £325m December 17, 2021 Chemical giant Johnson Matthey (JM) announced this morning the sale of its health division for £325m to investment firm Altaris Capital. The transaction, expected to close in mid-2022, has pushed shares up 0.25 per cent to 1,997p. Upon completion of the deal, JM will receive £150m cash, retaining a 30 per cent stake in the [...]
Omicron and virus curbs deals blow to Brits’ confidence December 17, 2021 The emergence of the Omicron variant of coronavirus has dealt a blow to Brits’ optimism, according to a closely watched survey published today. Consumer confidence edged back one point over the last month to minus 15 in December, research by GfK found. The dip has been driven by households’ confidence in their personal finances over [...]
Volkswagen to produce fewer cars in 2022 following semiconductor supply issues December 16, 2021 Volkswagen has reportedly said it might have to reduce its production forecasts for 2022 as a result of ongoing semiconductor issues. After reducing its 2021 forecasts from 9.3 to 9 million vehicles produced, the German car marker could see deliveries fall to 8 million next year, business magazine Manager Magazin reported this morning, citing sources [...]
BA’s owner IAG to pay €75m to Air Europa after pulling out of takeover agreement December 16, 2021 British Airways’ (BA) owner IAG has announced today it will pay €75m (£63.7m) to Air Europa following yesterday’s decision to pull out from a £420m takeover deal, leaving shares up 0.70 per cent at closing time. IAG said it would it would pay the rival carrier’s owner Globalia €35m, on top a €40m break-up fee, [...]
Bank of England defies expectations and hikes rates for first time in three years December 16, 2021 The Bank of England today defied the City’s expectations and hiked interest rates for the first time in three years. The Bank’s rate setting committee voted 8-1 in favour, including governor Andrew Bailey, of lifting rates 15 basis points from a record low 0.1 per cent to 0.25 per cent, making it the first major [...]
FTSE: Lloyds, Barclays and Natwest shares surge on Bank of England surprise interest rate hike December 16, 2021 London markets are up around one per cent this lunchtime after a surprise interest rate hike from the Bank of England saw Lloyds Bank, Barclays and Natwest shares take off. The capital’s premier FTSE 100 index was still up 0.99 per cent after the rates call from Threadneedle Street, while the mid-cap FTSE 250 index, [...]