UK
IAG (LON: IAG) share price is doing well as investors wait for the company’s financial results set for May 10th. It soared to a high of 181.20p on Monday, its highest swing since November 2021, making it one of the top-performing airline companies. It has jumped by almost 100% from its lowest point in 2022. International Consolidating Airline earningsThis will be an important week for IAG, the parent company of British Airways and Aer Lingus as it publishes its Q1 earnings report. These numbers will provide more information about its performance as the travel industry growth continues. IAG and...
Invezz
Heineken has announced a substantial £39 million investment plan to refurbish and reopen numerous pubs across the UK under its Star Pubs & Bars chain, signaling a robust revival in the sector and the creation of more than 1,000 new jobs. Heineken’s refurbishments to revive local pubsAs part of its commitment to rejuvenate its network, Heineken plans to renovate over 600 pubs, approximately a quarter of its 2,400-strong chain. This decision aligns with changing consumer behaviors, notably the decrease in city-center commutes, as more people work from home and look to minimize travel expenses. T...
Invezz
Energy conglomerate Shell is currently negotiating the sale of its extensive gas station network in Malaysia to Saudi Arabia’s state-owned oil company, Saudi Aramco, in a deal that industry insiders estimate could reach $1 billion, Reuters reported. Strategic divestiture amid global refocusingShell, headquartered in London, operates around 950 fuel stations in Malaysia, making it the country’s second-largest network after the state-owned Petronas. The potential sale, which began discussions in late 2023, is part of Shell’s broader strategy under CEO Wael Sawan to streamline operations and conc...
Invezz
During the latest G20 summit, India played a major role in pushing for global rules governing organisations over crypto assets. It noted that virtual currencies were transnational and therefore needed international cooperation to be well regulated and their wider macro-financial effects managed. Global efforts in crypto regulationMiCA regulation, set to be enforced in the European Union next year, may transform the crypto-asset landscape entirely. The Dubai International Financial Centre (DIFC), one of the leading financial hubs in the MEASA region, has introduced Digital Assets Law – the worl...
Invezz
Shell plc, the British multinational oil and gas company, just released its quarterly earnings today for the Q1 of FY24. The Q1 adjusted earnings were of $7.7 billion, reflecting a strong operational performance across the business. Shell announced the commencing a $3.5 billion share buyback programme, which is expected to be completed by the second quarter. The 2024 cash capex outlook of $22 – 25 billion remains unchanged. CFFO of $13.3 billion for this quarter includes a working capital outflow of $2.8 billion, given higher crude and oil products prices towards the end of Q1. CFFO reflects t...
Invezz
Aston Martin Lagonda’s (LON: AML) share price collapsed to a low of 128p on Wednesday, its lowest level since November 2022. The stock crashed by over 65% from its highest point in 2023. It has lagged behind other UK companies now that the FTSE 100 index has soared to a record high. Aston Martin’s woes are continuingAston Martin, the biggest luxury vehicle company in the UK, is facing substantial challenges and it is unclear whether it will survive. The company published an extremely weak financial statement. Its wholesale volumes dropped by 26% in the first quarter to 945. Unit sales dropped ...
Invezz
Energy ministers representing the Group of Seven (G7) major democracies are set to sign an agreement aimed at ending the use of coal in electricity production by 2023 and 2035. However, two diplomatic sources say Germany and Japan may be exempt from this agreement. Outlines of the agreementSources state that G7 nations promise to close their coal-fired plants by the early 2030s, however, these countries could also choose to have a deadline aligned with maintaining the global temperature increase below 1.5°C. This would give Berlin and Tokyo flexibility, given that their coal-fired plants gener...
Invezz
London (AFP) - The UK on Thursday joined the United States and Canada in announcing a fresh set of sanctions against Iran's drone and missile industries after its recent attack on Israel. Tehran launched its first direct military assault on Israeli territory nearly two weeks after an April 1 air strike -- widely blamed on Israel -- that killed seven members of the Islamic Revolutionary Guard Corps in Damascus. Iran's large-scale attack involved more than 300 drones and missiles, most of which were shot down by Israel and its allies including Washington and London, causing little damage. The U...
AFP
British Prime Minister Rishi Sunak will announce a 500-million-pound ($617 million) uplift in military support for Ukraine during his visit to Poland on April 23. The announcement will come with a warning that defeating Russia is imperative to halt any further advancement of its troops into Europe. Sunak's trip to Poland to meet Prime Minister Donald Tusk marks his first international visit in months. The purpose is to demonstrate to his restless party that he remains in control ahead of an upcoming election, which many anticipate he will not win. Sunak will then travel to Germany to meet Chan...
Kyiv Independent (CA)
British Prime Minister Rishi Sunak will announce a 500-million-pound ($617 million) uplift in military support for Ukraine during his visit to Poland on April 23. The announcement will come with a warning that defeating Russia is imperative to halt any further advancement of its troops into Europe. Sunak's trip to Poland to meet Prime Minister Donald Tusk marks his first international visit in months. The purpose is to demonstrate to his restless party that he remains in control ahead of an upcoming election, which many anticipate he will not win. Sunak will then travel to Germany to meet Chan...
Kyiv Independent (UK)
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