CITY WHISPERS: Texans blacklist HSBC for its ‘green social agenda’
CITY WHISPER: Angry Texans blacklist HSBC for its ‘green social agenda’ – Lone Star State adds lenders to its eco-sanctions list
HSBC bankers looking forward to a trip to Texas may have to ditch their cowboy boots after the Lone Star State put the lender on its eco-sanctions list.
There are a number of reasons this raises eyebrows — not least because few people knew that Texas has cracked down on companies it believes are too anti-fossil.
Glenn Hegar, the Texas Comptroller of Public Accounts, has described HSBC’s new, greener energy policy as “a prime example of a broader movement” in the financial sector to advance a “social agenda”.
Sign Language: The blacklist could ban Texas government agencies from investing in one of Europe’s largest banks
This blacklist could bar Texas government agencies from investing in one of Europe’s largest banks.
Given HSBC’s track record of being criticized for its supposedly green policies, this development is practically a badge of honour.
Other big names being targeted include Goldman Sachs, BlackRock, Fidelity, Abrdn and UBS. You can’t please everyone.
Kromek increasingly relevant in troubled times
You may have been troubled by the news of a leak at a nuclear power plant in the US state of Minnesota and the temporary relocation of 2.5 tons of uranium in Libya (which was recovered a few days later).
For London-listed Tiddler Kromek, these reminders of our “unsafe world” mean his biohazard and radiation technology is becoming increasingly relevant, according to a study by Equity Development.
Every cloud, right?
King of Mining builds up critical percentage
Congolese copper mining group Critical Metals has told anyone who will listen about its deal-making plans and its will to expand.
But only observant mining investors will have noticed that Critical Metals may have a bigger lead than many of its small-cap peers.
The largest shareholder in the £14.5million group is founder Russell Fryer, who owns almost 20 per cent of the shares.
But in recent months, former JP Morgan vice chairman Ian Hannam, widely known around town as the “King of Mining,” has built up a personal stake worth almost 10 percent of the company.
Sounds like a master rainmaker’s connections could be useful for Fryer and his Kongo colleagues.
Wicke’s Fix for High Street?
Could Wickes be the next hardware store trying to fix the high street?
Chief Executive David Wood said last week he was “curious” about the idea of opening mini or “local” stores – which B&Q and Ikea are already testing – after an 11 percent drop in profits.
Bringing hammers and screws to the masses instead of waiting for them to visit giant retail outlets could be a boon for cities.
It could also appeal to a new demographic that Wickes is targeting — younger customers who want to make small repairs in homes they rent.
Keep the shops open late and maybe shoppers can grab a kebab and tape measure while they head home from the pub.
https://www.dailymail.co.uk/money/investing/article-11902261/CITY-WHISPERS-Texans-blacklist-HSBC-green-social-agenda.html?ns_mchannel=rss&ns_campaign=1490&ito=1490 CITY WHISPERS: Texans blacklist HSBC for its ‘green social agenda’