14 April

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UK’s Johnson says he shares concerns over Greensill lobbying By Reuters

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LONDON (Reuters) - British Prime Minister Boris Johnson said on Wednesday he shared concerns over a growing lobbying scandal involving former leader David Cameron who tried to get ministers to help out the now failed supply-chain finance firm Greensill Capital. Though Cameron's strategy ultimately failed, Johnson has launched an independent review to look at allegations that lobbyists have an "open door" to his government. Cameron's role has raised questions about access to ministers by former colleagues, particularly on behalf of Greensill. The government said on Tuesday a former procurement chief was allowed to take...

14 April

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Goldman profit smashes expectations on booming investment banking By Reuters

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By Anirban Sen, Matt Scuffham and Noor Zainab Hussain (Reuters) -Goldman Sachs Group Inc on Wednesday easily beat Wall Street expectations for first-quarter profit, as the U.S. investment bank capitalized on record levels of global dealmaking activity and a coronavirus-driven boom in stock market trading. Overall investment banking revenue rose 73% to $3.77 billion, its highest since 2010, while equities trading surged 68% as a jump in trading by ordinary investors fed stock market volatility. Global investment banking fee hit an all-time record of $39.4 billion during the March quarter, according to Refinitiv data. Goldman also...

14 April

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EU to borrow around 150 billion euros annually for recovery fund By Reuters

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By Jan Strupczewski BRUSSELS (Reuters) -The European Commission plans to borrow around 150 billion euros annually until 2026 to finance the bloc's unprecedented plan to make its economy greener and more digitalised, making it the biggest debt issuer in euros, the Commission said on Wednesday. The amount of the EU economic plan was agreed at 750 billion euros in 2018 prices, but now totals around 807 billion euros in current prices. The money is split into 338 billion euros in grants and 386 billion in loans for the 27 EU countries and the rest is...

14 April

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Japan halts Tepco plan to restart key nuclear plant after safety breaches By Reuters

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By Aaron Sheldrick and Yuka Obayashi TOKYO (Reuters) - Japan's nuclear regulator said on Wednesday that it would bar Tokyo Electric Power Co (Tepco), operator of the wrecked Fukushima Daiichi nuclear plant, from restarting its only operable atomic power station due to safety breaches uncovered last year. The setback marks another low point for a company that was at the heart of Japan's nuclear industry but has struggled to reform its safety culture after years of lax compliance even before its widely criticized response to the Fukushima disaster of 2011. Tepco had been hoping...

14 April

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Heathrow Airport CEO sees patchy international travel this summer By Reuters

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LONDON (Reuters) - The chief executive of Heathrow Airport, Britain's busiest airport, said that international travel this summer would be "patchy" as countries worry about the risk of importing COVID-19 variants and their impact on the vaccine. "I think over the summer, we're going to see quite a patchy opening up with international travel, which I hope will progressively improve," Heathrow's CEO John Holland-Kaye told an online industry event on Wednesday. ...

14 April

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Coinbase listing marks latest step in crypto’s march to the mainstream By Reuters

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By Tom Wilson and Anna Irrera LONDON (Reuters) -Coinbase Global Inc, the biggest U.S. cryptocurrency exchange, will list on the Nasdaq on Wednesday, marking a milestone in the journey of virtual currencies from niche technology to mainstream asset. The listing is by far the biggest yet of a cryptocurrency company, with the San Francisco-based firm saying last month that private market transactions had valued the company at around $68 billion this year, versus $5.8 billion in September. It represents the latest breakthrough for acceptance of cryptocurrencies, an asset class that only a few years ago...

14 April

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Civil groups want EU lawmakers to boost privacy rights in planned WhatsApp, Skype rules By Reuters

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By Foo Yun Chee BRUSSELS (Reuters) - Amnesty International, Privacy International and 28 other civil and human rights groups on Wednesday urged EU lawmakers to take a strong stand on privacy rights in proposed rules governing Facebook (NASDAQ:FB)'s WhatsApp and Microsoft (NASDAQ:MSFT)'s Skype. The call by the group in a letter to the European Parliament, whose members are spread out across Europe, is in response to what they said are attempts by EU countries to weaken privacy rights. EU countries in February agreed to a joint position in forthcoming negotiations with EU lawmakers and the...

14 April

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COVID wipes out 20% of Tesco’s pretax profit despite sales surge By Reuters

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By Paul Sandle LONDON (Reuters) -Tesco, Britain's biggest retailer, reported a 20% drop in full-year pretax profit as the cost of adapting the business for the pandemic wiped out the benefit of "exceptionally strong" sales. With restaurants and cafes shut for large parts of 2020, supermarkets in Britain saw a surge in demand online and in stores as shoppers stocked up on food to eat at home during lockdown. "Everything about this last year has been exceptional," Chief Executive Ken Murphy told reporters. "Customers shopped, on average, a third less frequently, but when they did shop,...

14 April

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Foxtons shares higher after Q1 trading update By Investing.com

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By Samuel Indyk Investing.com – Shares in UK estate agent Foxtons (LON:FOXT) were trading higher on Wednesday morning after the company reported a 24% increase in group revenue in Q1 to £28.5mln. Revenue breakdown Lettings revenue grew just 6% as rents in London remained under pressure during the quarter, declining by around 12%, but this was offset by an increase in volumes from Q1 2020. Sales revenue increased 60% reflecting accelerating volume growth and a contribution of £0.8 million following the newly acquired Douglas & Gordon business. “I am delighted with the start we...

14 April

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AstraZeneca, mining stocks pull FTSE 100 higher; Tesco caps gains By Reuters

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By Devik Jain (Reuters) -London's FTSE 100 edged higher in choppy trading on Wednesday, helped by gains in heavyweight mining stocks and shares of AstraZeneca (NASDAQ:AZN), while Tesco (LON:TSCO) slipped to the bottom of the index after reporting a 20% drop in full-year pretax profit. The blue-chip index rose 0.2%, with commodity trader Glencore (LON:GLEN) Plc adding 2.6% after Goldman Sachs (NYSE:GS) upgraded the stock to "buy" from "neutral". Other miners also gained as they tracked higher metal prices, while a stronger pound weighed on large dollar-earning companies. [MET/L] (GBP=) Drugmaker AstraZeneca...

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News

UK’s Johnson says he shares concerns over Greensill lobbying By Reuters

Goldman profit smashes expectations on booming investment banking By Reuters

EU to borrow around 150 billion euros annually for recovery fund By Reuters

Japan halts Tepco plan to restart key nuclear plant after safety breaches By Reuters

Heathrow Airport CEO sees patchy international travel this summer By Reuters

Coinbase listing marks latest step in crypto’s march to the mainstream By Reuters

Civil groups want EU lawmakers to boost privacy rights in planned WhatsApp, Skype rules By Reuters

COVID wipes out 20% of Tesco’s pretax profit despite sales surge By Reuters

Foxtons shares higher after Q1 trading update By Investing.com

AstraZeneca, mining stocks pull FTSE 100 higher; Tesco caps gains By Reuters

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