Reuters UK Business

By Sinead Cruise LONDON (Reuters) – Britain’s top financial regulators have scrapped proposed new rules to boost diversity and inclusion in the industry, and mothballed a fresh crackdown on non-financial misconduct, citing fears of imposing unnecessary regulatory burdens on firms. The Prudential Regulation Authority and Financial Conduct Authority said on Wednesday they had no plans …

UK financial watchdogs drop diversity and ‘name and shame’ reforms Read More »

By Susanna Twidale LONDON – British energy regulator Ofgem said on Wednesday that it had not found evidence of a breach of sustainability obligations by power company Drax, in the watchdog’s review of reports prepared by auditor KPMG.  Renewable power generators in Britain can receive renewable obligation (RO) certificates which can then be sold to …

UK power group Drax not in breach of sustainability obligations, says Ofgem Read More »

By Marc Jones LONDON (Reuters) – Companies that issue green bonds tend to be better at reducing their greenhouse gas emissions, especially in heavily polluting sectors, new analysis from the Bank for International Settlements has shown. The study published on Tuesday was evaluating the impact of the near $3 trillion green bond market, where companies …

Firms that issue green bonds better at tackling emissions, study shows Read More »

By Kate Abnett BRUSSELS (Reuters) – The European Parliament’s biggest lawmaker group said on Wednesday it will attempt to overturn the European Union’s main climate policy for cars – a 2035 ban on sales of new CO2-emitting vehicles – during a review of the plan this year. The ban’s supporters say it is crucial to …

EU lawmaker group to challenge combustion engine ban this year Read More »

By Marie Mannes STOCKHOLM (Reuters) -Battery cell maker Northvolt has filed for bankruptcy in Sweden, the company said on Wednesday, marking one of the country’s largest corporate failures and effectively ending Europe’s best hope of developing a rival to challenge China. “This was a decision we did not take lightly” and it was the only …

Europe’s would-be battery champion Northvolt files for bankruptcy Read More »

By Marie Mannes and Alessandro Parodi STOCKHOLM (Reuters) -Truckmaker Scania is willing to go ahead with purchasing the only profitable business of bankrupt battery maker Northvolt for $6 million, it said on Wednesday. Northvolt filed for bankruptcy on Wednesday, bringing to an end Europe’s best hope of developing a rival to major Asian electric vehicle …

Scania still main suitor for bankrupt Northvolt’s battery pack unit Read More »

(Reuters) – Niantic Labs said it would sell its video-game division to Saudi Arabia-owned Scopely for $3.5 billion, as the U.S. augmented reality firm shifts focus to geospatial technology after failing to recreate the success of its 2016 smash hit “Pokemon Go.” The deal, announced on Wednesday, also advances Saudi Arabia’s ambitions to become the …

‘Pokemon Go’ maker Niantic to sell game division to Saudi-owned Scopely for $3.5 billion Read More »