Financial Times - 24 February
These are the most popular stories from the Financial Times. These stories have not been verified and we cannot vouch their accuracy. Britain and India are resuming talks to reach a long-awaited deal on trade. The negotiations had been delayed due to the elections held in both countries. The UK Government has committed to invest 200 million pounds ($253,26 million) in projects at Grangemouth, as the closure of Scotland's sole oil refinery is planned for the next few months. This will result in redundancies among the workers. BMW has suspended a 600-million-pound investment plan for the production of electric Minis in Oxford.
Glencore rejects an approach to its DRC operations in the last year
Glencore, a commodity and mining trader, said that it rejected a non-invited approach by an unknown buyer at the end of the last year for its operations in Democratic Republic of Congo. In an email, a spokesperson stated that Glencore had not hired any advisors or banks and was not conducting a sale for its operations in DRC. The Financial Times had reported earlier in the day that the miner considered selling all or part of its Congolese assets, and held preliminary discussions regarding its copper and coal mines in this region. Glencore refused to identify the buyer when Glencore was contacted by. The FT report boosted the FTSE 100 shares by as much as 4,8%.
Financial Times reports that Elliott has a $5 billion stake in BP.
The Financial Times reported that Elliott Management, an activist investor, has revealed a nearly 5% stake in BP. This makes it the third largest shareholder of the oil company, citing sources close to the issue. The FT reported that Elliott was trying to get the British oil company, British Petroleum to reduce spending on renewables as well as make large divestments. BP shares dropped 1.3% to 462.5p after the FT article. A BP spokesperson refused to comment. Elliott Management didn't immediately respond to our request for a comment. Murray Auchincloss, the CEO of BP, is on a quest to revive BP’s performance and increase profits.
European energy industry urges EU to not cap gas prices
The European Union's gas and trading industries are urging it not to cap the gas price, while Brussels is looking for ways to protect businesses and consumers from rising energy prices. The European Commission has been preparing a set of measures that will be presented on 26 February to help improve the competitiveness of industries and lower energy prices. The cold weather and the depletion of gas storage tanks boosted this week's benchmark European gas price to a 2-year high of €58 per megawatt-hour (MWh). This has increased concerns over the higher energy costs European firms pay compared to their competitors in the U.S. or China.
European energy industry urges EU to not cap gas prices
The European Union's gas and trading industries are urging it not to cap the gas price, while Brussels is looking for ways to protect businesses and consumers from rising energy prices. The European Commission has been preparing a set of measures that will be presented on 26 February to help improve the competitiveness of industries and lower energy prices. The cold weather and the depletion of gas storage tanks boosted this week's benchmark European gas price to a 2-year high of €58 per megawatt-hour (MWh). This has increased concerns over the higher energy costs European firms pay compared to their competitors in the U.S. or China.
European energy industry urges EU to not cap gas prices
The European Union's gas and trading industries are urging it not to cap the gas price, while Brussels is looking for ways to protect businesses and consumers from rising energy prices. The European Commission has been preparing a set of measures that will be presented on 26 February to help improve the competitiveness of industries and lower energy prices. The cold weather and the depletion of gas storage tanks boosted this week's benchmark European gas price to a two year high of 58 euro per megawatt-hour (MWh). This has increased concerns over the higher energy costs European firms are facing, in comparison with their competitors in the U.S. or China.
Financial Times – February 12,
These are the most popular stories from the Financial Times. These stories have not been verified and we cannot vouch their accuracy. BP told 39,000 employees their cash bonus would be only 45% of the target amount after a poor year in financial and operational performance. Gavin Isaacs, the chief executive officer of Ladbrokes' owner Entain has resigned after only five months. Novartis agreed to purchase Anthos Therapeutics for up to $3.1billion after Blackstone Life Sciences had funded the development of Anthos' treatment to prevent strokes and serious blood clots. EU officials said they would take "firm and proportionate" countermeasures against U.S.
Financial Times - Jan 17
These are the most popular stories from the Financial Times. These stories have not been verified and we cannot vouch their accuracy. Owners of France's Natixis Investment Managers, and Italian insurer Generali, are nearing an announcement of an agreement for a joint venture in asset management that will bring together the two biggest European names. France's Bureau Veritas has ended merger talks with FTSE group Intertek and pursued a 37.91 billion pounds ($31.91 billion) merger with Swiss rival SGS. This shows the desire to consolidate the certification sector.
Financial Times - Jan 15
These are the most popular stories from the Financial Times. These stories have not been verified and we cannot vouch for the accuracy of these reports. The French state auditor said that the French nuclear company EDF shouldn't make a final decision on its investment in Britain's Sizewell C project until they have reduced their exposure to Hinkley Point C, its other British project. Insolvent councils are threatening to derail the most comprehensive overhaul of local government that England has seen in decades. Before finalising an agreement with Mauritius, Britain will wait for Donald Trump to approve it. The deal concerns the future of the strategic UK-U.S.
Qatar will stop EU gas exports if fined for due diligence, reports FT
In an interview with the Financial Times published on Sunday, Energy Minister Saad Al-Kaabi said that Qatar would stop shipping gas into the EU if the member states enforced a new law aimed at cracking down against forced labour and environmental damages. Corporate Sustainability Due Diligence, approved in this year, is a directive that requires large companies operating within the European Union, to verify whether their supply chain uses forced labour, or causes environmental damage, and take action, if necessary. The penalties include fines up to 5% global turnover.
Financial Times - Dec 2
These are the most popular stories from the Financial Times. These stories have not been verified and we cannot vouch their accuracy. The UK government will announce plans for a new council of defence industry leaders and business in an effort to enhance collaboration between Whitehall and technology companies, smaller start-ups as well as giants within the sector. The Chancellor of Duchy of Lancaster Pat McFadden denied that Keir's Starmer's plans to set new targets for the government's next week are a "reset" and defended UK Prime Minister David Cameron's decision to not include a limit on inward immigration.
French and Benelux stocks - Factors to watch November 26
Here are some company news and stories that could impact the markets in France and Benelux or even individual stocks. Google has proposed further changes to its European Search Results to comply with the EU Digital Markets Act. Alstom, a French manufacturer of rail infrastructures, announced on Monday that it had renewed its contract with the Denver International Airport to provide automated people mover systems for 7 years at a cost of 218 million Euros ($228,4 million). HOME INVEST BELGIEUM: Belgian property company Home Invest Belgium launched a share-buyback program on Monday for a maximum of 5.625 millions euros.
Looney, former BP boss, to lead US data company Prometheus Hyperscale
The U.S. data company announced on Sunday that former BP CEO Bernard Looney will chair Prometheus Hyperscale. Prometheus Hyperscale announced that Looney, the former CEO of British energy giant BP, resigned from his position in 2023, after serving four years as the company's chief executive, for failing to disclose all details about past personal relationships. He will now provide strategic guidance in developing the growth plans of the data-driven firm. Prometheus Hyperscale announced that Looney's new position will include assisting with work at the company’s $10 billion flagship data center in Evanston Wyoming.
French and Benelux stocks - Factors to watch in November
Here are some company news and stories that could impact the markets in France and Benelux or even individual stocks. The Delen family and Belgian holding company extended their historic shareholder agreements by 25 years. French cybersecurity company CD&R said that Permira and CD&R had received all the regulatory clearances needed for the proposed acquisition of the majority stake in the firm. French semiconductor materials provider reported a 16 percent drop in sales for the first half of the year, citing lower volume due to high inventories throughout the smartphone value-chain and a softening automotive market.
Viaro CEO accused of forging documents in UK lawsuit to steal millions
Former employer of the CEO of an independent British Oil Producer who is purchasing North Sea assets from Shell and Exxon Mobil, is suing him for allegedly falsifying documents in order to steal substantial amounts. Court documents show that Viaro Energy's CEO Francesco Mazzagatti has been accused of involvement in the misappropriation at least of 143.8 million euro ($151.5 millions) by Singapore-based Alliance Petrochemical Investment. The suit, first reported in the Financial Times, was filed by London's High Court at the end of August. Mazzagatti denies all allegations.
Financial Times - Nov. 12
These are the most popular stories from the Financial Times. These stories have not been verified and we cannot vouch for the accuracy of these reports. Companies will admit that the UK made a legal mistake in issuing oil and gas licenses. Shell, Ithaca, and Equinor, a Norwegian oil company, are all set to admit that the UK government committed a mistake by granting them licenses for two new major offshore developments. This is the beginning of an important case for future fossil-fuel projects. Ken Griffin's Citadel hedge fund has hired Nabeel Bhanji…
ND Governor Burgum on Trump's Energy Shortlist
President-elect Donald Trump is considering North Dakota Governor Doug Burgum to be his new "energy tsar", the Financial Times reported on Friday.Burgum is Trump's preferred candidate for the role, the newspaper reported citing people familiar with the discussions, adding that former energy secretary Dan Brouillette is also a contender.The new energy tsar role and its powers are not yet finalized, the FT reported.
Drone crashes into oil depot in Russia’s Stavropol Region
Vladimir Vladimirov, the local governor of Stavropol in southern Russia, said that a drone had crashed on an oil storage depot. This was the second suspected Ukrainian strike in a row on Russian energy and fuel targets. It followed a period of seven weeks after a fuel station in Tula, Russia was attacked on September 10. Vladimirov, on Telegram, said that there were no injuries in the incident at Svetlograd Oil Depot. Baza Telegram, a channel close to Russia's Security Services, has posted a CCTV footage purportingly showing the attack at the oil depot. The video showed at least one fuel tank being quickly engulfed in a fireball.
Financial Times - Oct 16
These are the most popular stories from the Financial Times. These stories have not been verified and we cannot vouch for the accuracy of these reports. BBC, the British broadcaster, has announced plans for 155 job cuts across its news operations. This is part of a larger cost-cutting plan worth 700 million pounds (915 million dollars). Woodside Energy, an Australian oil and natural gas company, announced on Wednesday that it will delist next month from the London Stock Exchange in order to cut down the administration costs of the business.
TSX reaches record high in anticipation of a larger US rate reduction
Canada's main index of stocks hit another record on Friday, in a rally that was led by mining companies. Investors reacted to the overnight surge in expectations for a large U.S. rate cut next Monday. The Toronto Stock Exchange’s S&P/TSX Composite index rose 143.04 or 0.61% to 23,618.73, and was on track to extend its record-breaking run. As the market anticipated a larger rate cut from the Federal Reserve during its policy meeting on September 18, at least 11 sectors in the index saw gains. Materials led the sectoral gains, as gold prices hit record highs on anticipations of U.S. rate cuts. First Majestic Silver Corp. topped the index. , Alamos Gold Inc?
