Nationwide boss takes aim at rivals over bank branch closures May 29, 2022 The outgoing chief executive of Nationwide Building Society has taken aim at rivals for shuttering swathes of branches around the country, as he doubled down on the firm's commitment to maintaining its high street presence.
US financial watchdog raises questions around Musk’s Twitter stake acquisition May 28, 2022 The US Securities and Exchanges Commission (SEC) has cast doubts over the legality of Elon Musk’s failure to properly disclose his acquisition of a 9.2 per cent stake in Twitter for $2.6bn, before launching his bid to takeover the social media firm. In an April 4 letter to the richest person in the world – [...]
Iran seizes Greek oil tankers in escalation of Tehran’s spat with Western powers May 28, 2022 Iran’s Revolutionary Guards have seized two Greek oil tankers, after the Iranian government said it would take “punitive action” against Greece over its seizure of an Iranian oil cargo last month. Iran’s Islamic Revolutionary Guard Corp (IRGC) said it had seized two Greek tankers sailing in international waters off the coast of Iran. The seizures [...]
Shell: ‘We understand worry for millions – but windfall tax creates uncertainty’ May 27, 2022 Shell has slammed the government’s windfall tax. It said while it “understands the worry for millions” about the cost of living crisis, the new tax creates “uncertainty” about investment in the UK energy sector. This follows Chancellor Rishi Sunak announcing a so-called Energy Profits Levy, a 25 per cent surcharge on North Sea oil and [...]
End of EU research funding will choke off UK deeptech, top professor warns May 27, 2022 An end to European research funding for UK universities could choke off a stream of so-called deeptech startups from attracting investment and making it to market, an expert has told City PM
Vanguard doubles down on fossil fuel investment May 26, 2022 Asset management giant Vanguard will continue investing in fossil fuels firms despite its commitment to hit net zero across its portfolio by 2050, its boss has revealed.
Klarna pulling back from growth to focus on profits, boss says May 26, 2022 Buy-now pay-later giant Klarna is shifting away from a high-growth strategy to focus on a fast-track route to profitability, boss Sebastian Siemiatkowski said today.
‘Impact tech’ investment jumps to £960m in 2022 but slowdown looms, analysts warn May 26, 2022 Funding into so-called ’impact tech’ start-ups in the UK has jumped over 30 per cent this year despite soaring inflation and market turbulence beginning to put the squeeze on venture capital investors, fresh data has revealed.
Tech giant AGM: Amazon shareholders reject investor-led proposals on workers’ rights May 25, 2022 Amazon shareholders voted down all investor-led proposals at the tech giant’s AGM on Wednesday afternoon. Among the 15 shareholder proposals, rejected resolutions included those critical of the company’s use of plastics and particular concealment agreements in contracts. The $1tn e-commerce giant had pushed back against all of the shareholder proposals, the highest number it has [...]
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.
