Hari Nada, a powerful Nissan insider who was behind the ouster last year of Nissan’s chairman, Carlos Ghosn, over compensation issues, had been improperly overpaid himself, according to a law firm investigating problems at Nissan. As of October 9, Nissan Motor Co. said it has limited...
As of October 8, 2019 Hong Kong Stock Exchange announced the drop of its £32 bn bid to acquire the London Stock Exchange. For further information, see the following links: https://www.hkexgroup.com/-/media/HKEX-Group-Site/ccd/Possible-Offer/28-Announcement--HK-cover-ENGcombined.pdf https://www.theguardian.com/business/2019/oct/08/hong-kong-bid-london-stock-exchange-lse https://www.cnbc.com/2019/10/08/hong-kong-exchange-drops-its-39-billion-bid-to-buy-the-london-stock-exchange.html https://www.ft.com/content/ccb827ce-e95f-11e9-a240-3b065ef5fc55 ...
According to Archbishop Desmond Tutu, corporations, financial institutions and socially conscious citizens must pull us back from the climate change abyss. They have the muscle to make renewables mainstream and reposition fossil fuels as the tobacco of the energy industry. Sadly, the leaders of some...
Thomson Reuters Corp announced on Monday it had completed the sale of a majority stake (around 55%) in its Financial & Risk unit to private equity firm Blackstone Group LP. The unit will now be rebranded as Refinitiv. Investors also announced that Refinitiv will invest in multiple...
More than 400,000 German car owners seeking compensation from the carmaker over emissions test cheating have signed up to a landmark collective lawsuit, which is the largest legal claim of its kind in modern German history. Volkswagen has already paid out more than €30bn around the world...
The Paris Agreement’s 2 °C objective requires that more than 80% of all proven fossil fuel reserves become stranded resources, and investments in such resources may become "stranded assets" for industrialized and developing countries. A ‘just transition’ for workers and communities as the world’s economy responds to...
A shocking report by PRI reveals that the financial market is very likely to incur in a new mortgage default crisis because of the climate change. In fact, the short sightedness of policy makers regarding climate change is increasing the likelihood of a market crisis. For...
Britain’s accountancy regulator Financial Reporting Council (FRC) will start soon to investigate the collapse of Thomas Cook. The investigation would likely focus on two Big Four audit firms, EY and PwC, in order to clarify their position and understand whether they have some responsibilities. EY and PwC declined any comment. For...
German authorities in Braunschweig have formalized the allegations of Volkswagen chief executive Herbert Diess, chairman Hans Dieter Poetsch and former CEO Martin Winterkorn of market manipulation in connection with the diesel emissions scandal that dates back to September 2015. The firm admitted in 2015 using illegal software to cheat...
Hedge funds are starting to face the increasing interest in responsible investing. According to the survey by BarclayHedge, a division of technology firm Backstop Solutions, four out of ten hedge fund managers now consider environmental, social and governance (ESG) ratings in their capital allocation decision. The reason...
The Anglo-Australian mining company Rio Tinto has signed a Memorandum of Understanding (MOU) with China's largest steel producer, China Baowu Steel Group. The MOU aims at developing ways to reduce carbon emissions released during steel manufacturing process. The partnership, signed on September 25, 2019, includes a collaboration with Tsinghua...
It is strategic to invest batteries in Europe, primarily for clean mobility and grid stabilisation, given the size of the EU’s automotive sector: 13.3m jobs, or 6.1% of the total workforce. This would also reduce the carbon footprint of producing electric cars in Europe, since it...
A group of 13 companies known as Oil and Gas Climate Initiative (OGCI) spoke out on Monday about the progresses they made in promoting investments in carbon capture, use and storage (CCUS). OGCI said it is ready to make investments. These, though, relies heavily on technology in order...
“We will not be dinosaurs,” –said Patrick Pouyanné, CEO of Total,-“We’re going to be the energy company of the future, I’m convinced.” On Monday few blocks away from the UN headquarter in New York, where 66 countries signed their intent to achieve zero carbon emission for...