1 All listed companies in Britain will be forced to produce their own binding plans to reduce carbon emissions or will face fines, under plans to be unveiled by Rishi Sunak today. A task force under the control of the Financial Services Authority will set standards, preventing firms from making pledges that cannot be verified.
2 Pfizer expects to make sales worth $36 billion of the Covid-19 vaccine it developed with BioNTech, its German partner, this year and has forecast another $29 billion in sales in 2022, topping analysts’ estimates for both periods.
3 Maersk, the world’s largest container shipping line, warned that the squeeze in global supply chains would continue into next year as it revealed record profits. Its revenues from July to September leapt by 68 per cent year-on-year to $16 billion and its underlying operating profit tripled to $6.9 billion.
4 Insurer Hiscox has set aside $150m to cover weather-related losses — but otherwise rising rates have seen it report stroing premiums written this year.
5 Lord Drayson is trying to take private Sensyne, the healthcare technology company that he floated three years ago, after a turbulent time on the stock market.
Advertisement
6 A little-known New York hedge fund, SRS Investment Management, stands to make billions of dollars on a dramatic leap in the shares of Avis Budget, the rental car firm, after executives discussed adding electric vehicles to their fleet.
7 Tesla went into a sudden reverse on Wall Street yesterday after Elon Musk said that a deal to sell 100,000 cars to Hertz had not yet been signed. Last week, shares in the electric carmaker surged after it launched its largest order thus far.
8 BP is not facing calls to break itself up, such as those aimed at Royal Dutch Shell, its boss has said. Bernard Looney said that the energy transition required integrated companies that could use oil profits to fund green investment.
9 Council pension funds responsible for hundreds of thousands of workers have taken a pioneering step to ditch shares in BP and Shell and put more money in technology, food and pharmaceuticals companies.
10 Investors in Flutter Entertainment may have been counting their losses after the gambling group was forced to cut its earnings forecast, but punters went on a winning streak thanks to knockout blows from Tyson Fury and Europe’s top football clubs.