EU mulls plans to ban insurers from insuring ships carrying Russian oil May 9, 2022 The European Union is considering banning insurers from insuring ships carrying Russian oil, as another means of draining Russia of the financial resources it needs to continue bankrolling its war in Ukraine. If brought into force, the new sanctions would come as another blow to Russia’s energy export industry, as the EU also weighs up [...]
FTSE 100 close: BP propels London index higher after posting record £23bn profit February 7, 2023 London’s FTSE 100 was boosted by investors piling into oil giant BP , which announced its highest ever full year profits of £23bn last year. The capital’s premier index jumped 0.36 per cent to close at 7,864.72 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK [...]
BP: Profits double to £23bn as soaring oil and gas prices continue to boost its bottom line February 7, 2023 BP is the latest energy giant to unveil record profits, reporting full-year earnings of £23bn, cashing in on soaring oil and gas prices.
EU announces plans to lead green industrial revolution March 16, 2023 The European Commission presented the centrepieces of a strategy on Thursday to ensure the EU can compete with US and China.
All Bar One owner toasts rising revenues as cost pressures start to ease July 27, 2023 Mitchells & Butlers (M&B) share price soared over five per cent this morning, as the pub and restaurant chain revealed a 9.7 per cent rise in revenues in the third quarter. The All Bar One owner was bolstered by a record breaking Fathers Day in June, with like-for-like sales in food and drink during the [...]
Pound records strong week as London markets expects Bank to hike rates further June 2, 2023 The pound has recorded its strongest week against the dollar in half a year as investors expect the Bank of England to keep hiking rates after the Fed has paused. Across the week, the pound gained more than 1.5 per cent against the dollar to trade at over $1.2530 on Friday afternoon. The pound performed [...]
Golden arches won’t stop conflict, but continued trade might December 11, 2023 As countries become more inward looking and trading relationships weaken, the golden arches theory still rings true, writes Eliot Wilson.
Diaries of a fund manager: Jack Hsiao on running a multi-billion pound investment giant January 13, 2023 As 2023 gets under way, the spotlight is firmly on the City and on its fund managers. What will be their next move? How and where do they find inflation-busting assets? Are they opting for more risk or playing it safe? City A.M. checked in with fund manager Jack Hsiao, he is a managing director [...]
Today at COP28: A change in mood December 6, 2023 As COP28 reaches its mid-way point, the initial lustre and enthusiasm of the world's great and powerful seems to be wearing off.
Kremlin orders seizure of gas facility which Shell has 27 per cent stake in worth £3.4bn July 1, 2022 Russia’s President Vladimir Putin has ordered the seizure of a gas facility in the county which UK firm Shell has a 27 per cent stake in. The Kremlin signed a decree to take control of rights of the Sakhalin-2 plant, which will be transferred into Russian hands. This comes as Moscow continues to come under [...]