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FTSE 100 flat as losses in healthcare offset gains in miners; Deliveroo slumps in debut By Reuters

(Reuters) - London's FTSE 100 was unchanged on Wednesday, as weakness in healthcare and banking stocks countered gains in mining shares, while food delivery company Deliveroo slumped 30% on its first day of trading. The blue-chip FTSE 100 index was flat, with healthcare stocks, including AstraZeneca (NASDAQ:AZN) and GlaxoSmithKline, falling between 0.4% and 0.8%. Oil heavyweights BP (LON:BP) and Royal...

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Daimler to speed up electric shift as 2021 starts strongly By Reuters

By Nick Carey LONDON (Reuters) - Daimler has got off to a good start in 2021 despite a global shortage of semiconductor chips, and plans to accelerate the shift in its model line-up to electric cars, the Mercedes-Benz maker said on Wednesday. The German company said it expected 2021 to be a significantly better year for revenue, and pretax profits than...

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Deliveroo Shares Slump Over 20% on Debut in London By Investing.com

By Geoffrey Smith  Investing.com -- Shares in Deliveroo slumped on their debut on the London Stock Exchange, as concerns about governance and profitability overshadowed the biggest IPO of the year so far in Europe.  By 5:05 AM ET (0905 GMT), Deliveroo shares were quoted at 305 pence, some 22% below their IPO price. The shares were priced at the bottom of their marketing...

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Analysis-Shaken by Greensill, German towns pull millions from banks By Reuters

By John O'Donnell and Tom Sims FRANKFURT (Reuters) - German towns and cities are pulling money from small, private banks, spooked after losing millions in the closure of Greensill Bank, an experience they said has shattered their faith in the country's government and financial system. Part of financier Lex Greensill's insolvent Greensill Capital,...

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Deliveroo shares tumble in London debut By Reuters

LONDON (Reuters) - Shares in Deliveroo opened well below the price of their initial public offering on Wednesday, and fell as much as 30% to 275 pence after making one of the most anticipated London stock market listings. The 390 pence price tag gave an overall valuation of 7.6 billion pounds ($10.46 billion) for the company, less than initially expected, after...

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China’s Mega-Refineries Are Throttling Other Asia Oil Processors By Bloomberg

(Bloomberg) -- The rise of China’s mega-refineries was always going to make life tougher for their competitors across Asia. But the fallout from Covid-19 is hastening the impact and accelerating consolidation across the region. A frenzy of refinery building in China is set to make the nation the world’s largest crude processor this year. At the same time, a drive to de-carbonize Asia’s...

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Biden to Lay Out U.S. Economic Renewal in Rejuvenated Pittsburgh By Bloomberg

(Bloomberg) -- President Joe Biden will unveil his vision for a mass ramp-up in U.S. infrastructure spending Wednesday in Pittsburgh, a city the White House views as a prime example of an old manufacturing hub revitalized by new industries from health care to technology. The administration wants the same type of reorientation that Pittsburgh...

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Plug Power Re-Announces News from September, Rallies 9% By Investing.com

By Christiana Sciaudone Investing.com -- Plug Power (NASDAQ:PLUG) jumped 9% after re-announcing plans to build a green hydrogen production plant with Brookfield Renewable.   The same news was published on Sept. 24, but it failed to move the market at the time.  Plug Power, which supplies hydrogen fuel cells for forklifts, will use renewable energy from Brookfield Renewable’s Holtwood hydroelectric...

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China and Brazil have world’s greenest central banks, activists say By Reuters

FRANKFURT (Reuters) - China has the world's greenest central bank, followed by Brazil, both beating richer countries thanks to concrete steps such as lower interest rates on loans for pollution-fighting projects, an activist group said on Wednesday. The UK-based campaign group Positive Money ranked the central banks and financial supervisors of G20 countries...

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