05 July

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INEOS backs HydrogenOne London listing plans By Reuters

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By Ron Bousso and Huw Jones LONDON (Reuters) - HydrogenOne Capital Growth said on Monday it plans to list on the London Stock Exchange to raise 250 million pounds ($345.85 million) for investing in clean hydrogen, a fuel that is forecast to play a major role in the energy transition. The company - launched by former Royal Dutch Shell (LON:RDSa) executive JJ Traynor and Richard Hulf, who has worked at Exxon Mobil (NYSE:XOM) and been an energy fund manager at Artemis - had already won the backing of chemicals and energy group INEOS that...

05 July

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Apollo enters takeover battle for Britain’s Morrisons By Reuters

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By James Davey LONDON (Reuters) - The $8.7 billion bid battle for Britain's Morrisons intensified on Monday when a third private equity group entered the fray, sending the supermarket group's share price racing ahead of the value of an offer it recommended on Saturday. New York-headquartered Apollo Global Management, which last year missed out on buying Morrisons rival Asda, said it was in the preliminary stages of evaluating a possible offer but had not approached its board. Private equity groups have embarked on a spending spree on assets around the world in the last six...

05 July

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French champagne industry group fumes over new Russian champagne law By Reuters

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PARIS (Reuters) -France's champagne industry group blasted on Monday a new Russian law forcing foreign champagne producers to add a "sparkling wine" reference to the back of their bottles. The "Comite Champagne" (Champagne Committee) added in a statement that it was also calling on French and European Union diplomats to get the law changed. The law, signed by Russian President Vladimir Putin on Friday, requires all foreign producers of sparkling wine to describe their product as such on the label on the back of the bottle - though not on the front. Makers of Russian "shampanskoye"...

05 July

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Euro zone business activity soared in June as lockdowns lifted By Reuters

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By Jonathan Cable LONDON (Reuters) - Euro zone businesses expanded activity at the fastest rate in 15 years in June as the easing of more coronavirus restrictions brought life back to the bloc's dominant service industry, a survey showed on Monday. But that surge in growth has come at a cost as inflationary pressures mounted due to labour shortages and disruptions to supply chains caused by the pandemic. IHS Markit's final composite Purchasing Managers' Index (PMI), seen as a good gauge of economic health, jumped to 59.5 last month from May's 57.1, its highest level since...

05 July

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Ask us first before swapping Libor with ‘risk-laden’ rate, says UK watchdog By Reuters

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By Huw Jones LONDON (Reuters) -Banks should ask the Financial Conduct Authority before using "credit sensitive rates" for replacing Libor, the tarnished benchmark which is being scrapped in December, the watchdog said on Monday. The London Interbank Offered Rate or Libor is being ditched after banks were fined for trying to manipulate the rate for pricing mortgages, loans and derivatives worth trillions of dollars across several currencies globally. Most contracts are being switched to "risk-free" overnight rates compiled by central banks, such as Sofr from the U.S. Federal Reserve and Sonia at the Bank of England....

05 July

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Nordic fund KLP excludes 16 companies over links to Israeli settlements in West Bank By Reuters

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By Gwladys Fouche and Simon Jessop OSLO (Reuters) - Norway's largest pension fund KLP said on Monday it would no longer invest in 16 companies including Alstom (PA:ALSO) and Motorola because of their links to Israeli settlements in the West Bank. Along with a number of other countries, Norway considers the settlements a breach of international law. A 2020 United Nations report said it had found 112 companies that have operations linked to the region, home to around 650,000 Israelis. The companies, which span telecoms, banking, energy and construction, all help facilitate Israel's...

05 July

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Factbox-The challenges facing Amazon’s new CEO, Andy Jassy By Reuters

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By Jeffrey Dastin (Reuters) - Amazon.com Inc (NASDAQ:AMZN) on Monday got a new chief executive: Andy Jassy, the mastermind behind its lucrative cloud computing division, who succeeds company founder Jeff Bezos. Here's a look at the business Jassy is taking over and the challenges that await him on the job. MORE THAN THE 'EVERYTHING STORE' * Bezos incorporated Amazon exactly 27 years ago. The internet bookseller he founded out of a garage has morphed into a purveyor of virtually any consumer good, online and in physical stores. It has grown far beyond even that: Jassy built...

05 July

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Airbus delivered more than 70 jets in June -sources By Reuters

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PARIS (Reuters) - Europe's Airbus delivered more than 70 airplanes in June to leave first-half deliveries in touching distance of the 300 mark, according to industry sources and tracking data. Between January and May, Airbus handed over a total of 220 airplanes, up 38% compared with the same period of 2020 which was heavily affected by coronavirus lockdowns from late March. June's performance puts the first-half total comfortably above 290 and marks one of the strongest monthly totals since the start of the pandemic, behind a peak of 89 in December 2020, the sources said....

05 July

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Morrisons lifts London mid-caps as virus fears weigh By Reuters

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By Shashank Nayar (Reuters) - British mid-caps rose on Monday, led by gains in heavyweight mining stocks and supermarket chain Morrisons, while investors looked past rising local coronavirus infections as the UK prepared to ease lockdowns. Morrisons jumped 11.3% to the top of the mid-cap index after U.S. private-equity firm Apollo Global Management said it was considering a possible offer for the British company, which on Saturday agreed to a 6.3-billion pound takeover from another group. The domestically focussed FTSE 250 index rose 0.3%, with base metal miners gaining nearly 1.3%, while travel stocks gained 0.4%...

05 July

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Britain proposes company listing reforms to catch up with New York By Reuters

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By Huw Jones LONDON (Reuters) - Britain's financial watchdog proposed on Monday making it easier for tech companies to list in London to strengthen the capital's ability to compete with New York and the European Union following Brexit. The Financial Conduct Authority (FCA) has proposed allowing "dual class share structures" for "innovative, often founder-led companies" listing on the London Stock Exchange's premium segment. Dual class share structures are popular in New York, allowing founders of companies to maintain control at the expense of ordinary shareholders. They are already available in London on the standard segment, but...

Меню

INEOS backs HydrogenOne London listing plans By Reuters

Apollo enters takeover battle for Britain’s Morrisons By Reuters

French champagne industry group fumes over new Russian champagne law By Reuters

Euro zone business activity soared in June as lockdowns lifted By Reuters

Ask us first before swapping Libor with ‘risk-laden’ rate, says UK watchdog By Reuters

Nordic fund KLP excludes 16 companies over links to Israeli settlements in West Bank By Reuters

Factbox-The challenges facing Amazon’s new CEO, Andy Jassy By Reuters

Airbus delivered more than 70 jets in June -sources By Reuters

Morrisons lifts London mid-caps as virus fears weigh By Reuters

Britain proposes company listing reforms to catch up with New York By Reuters

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