Category: <span>Investment</span>

HSBC has stakes in firms that plan more than 70 new coal plants
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HSBC has stakes in firms that plan more than 70 new coal plants

A loophole in HSBC’s pledge to phase out financing for coal by 2040 will allow the bank to support companies with plans to build more than 70 new coal plants, which could cause an estimated 18,700 deaths from air pollution a year, according to a report. The bank’s asset management arm, which is not included...

Boohoo profits soar as Covid turns customer focus to loungewear
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Boohoo profits soar as Covid turns customer focus to loungewear

Sales and profits soared at the online fashion retailer Boohoo during the coronavirus pandemic as it benefited from the boom in online shopping and being able to trade throughout successive lockdowns, unlike its high street rivals. Demand from younger consumers for its inexpensive activewear, loungewear and tops while working from home helped Boohoo’s sales climb by 41%...

Housebuilder Persimmon reports 23% sales rise
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Housebuilder Persimmon reports 23% sales rise

Pent-up demand, the government’s measures to support the housing market and a “chronic undersupply” of homes have driven a 23% leap in sales for the UK housebuilder Persimmon this year. The country’s second biggest builder said it had completed £3bn worth of sales since the start of the year, almost a quarter ahead of the same period...

Covid to cost airlines £7bn more than predicted
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Covid to cost airlines £7bn more than predicted

A slower than anticipated global vaccine rollout and wider failure to get Covid under control will cost airlines $10bn (£7.2bn) more than previously predicted, according to the organisation that represents global airlines. The warning from the International Air Transport Association came as Ryanair chief executive Michael O’Leary warned on Wednesday there would be “seismic” cut in capacity...

Gambling firms donating ‘insulting’ amounts to addiction charity
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Gambling firms donating ‘insulting’ amounts to addiction charity

Gambling firms behind more than £30m in football shirt sponsorship deals have been accused of making “insulting” contributions to the industry-funded addiction charity, with one giving just £250. An annual list of donors to GambleAware, which is funded by online casinos and bookmakers, details how much individual firms have given. The data reveals an increase in contributions...

TalkTalk customers hit out at ‘outrageous’ broadband price rise
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TalkTalk customers hit out at ‘outrageous’ broadband price rise

TalkTalk has been accused of taking its customers for April fools after it said it would be raising bills for those who signed up to a fixed-price broadband contract. Customers are furious at what they say is the company’s “unscrupulous” behaviour after it quietly ripped up its price promise and announced a £24-a-year increase. For its...

UK online car seller Cazoo to float for $7bn on NYSE
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UK online car seller Cazoo to float for $7bn on NYSE

British online car retailer Cazoo will make its stock market debut in New York though a special-purpose acquisition company (Spac), after agreeing to a merger deal that values the company at $7bn (£5bn). Cazoo is set to merge with Ajax I, led by the billionaire US investor Dan Och, making it the latest company to take advantage...

PensionBee to float on London Stock Exchange
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PensionBee to float on London Stock Exchange

PensionBee, an online pension provider, has become the latest company to announce plans to float on the London Stock Exchange, with an estimated market value of £350m. The firm, which helps savers consolidate their old pensions into one new plan, aims to sell shares to institutional investors as well as its 130,000 active customers. It...

Doorstep lender Provident Financial reveals FCA investigation
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Doorstep lender Provident Financial reveals FCA investigation

The doorstep lender Provident Financial has said it could put its consumer credit division into administration unless borrowers agree to a scheme that will sharply reduce compensation payments following a surge in customer complaints. The high-cost lender also revealed it was facing a regulatory investigation by the Financial Conduct Authority into a string of issues including whether...