Shell Changes CFO Amid Russia Share Divestment: The London Rush
(Bloomberg) -- Here's the key business news from London-listed companies this morning:
Shell Plc: The oil company named Sinead Gorman as chief financial officer effective April 1 to replace Jessica Uhl who steps down March 31.
- The company announced the appointment after it said it would exit its Russian gas ventures, including a massive liquefied natural gas facility, after the invasion of Ukraine changed the rules of engagement between Western companies and Moscow
Man Group Plc: The world's largest publicly listed hedge fund firm reported inflows that beat analyst estimates, alongside pretax and statutory profit beats. The company called 2021 an “excellent period of growth” that “demonstrates the potential of the firm.”
Flutter Entertainment Plc: Reported seven week trading in line with its views and said that since the completion of its merger with TSG, it has “materially reduced its exposure to the Russian online market.”
Travis Perkins Plc: The building merchant said that improved levels in housing transactions and the continued shift to hybrid working will lead to more progress in 2022.
Outside The City
The European Union is preparing for any disruptions of natural gas supplies from Russia as it weighs the risk Moscow could halt shipments in retaliation for sanctions.
The U.K. Prime Minister Boris Johnson is traveling to Poland and Estonia today.
In Case You Missed It
Roman Abramovich has engaged in talks with Ukraine to help broker an end to the war, his spokesperson said Monday. The Chelsea Football Club Ltd. owner has been under pressure from U.K. politicians following the Russian invasion of Ukraine, with sports investors and private equity firms poised to lodge takeover bids, Bloomberg reported.
The IPCC released its latest report in which it characterized adaptation measures so far as halting and insufficient. It also said Climate-related impacts are already “widespread” and, in some cases, “irreversible.”
Meanwhile, Londoners are being advised to work from home Tuesday and Thursday to avoid disruption caused by strikes on the city's underground rail service.
Looking Ahead
Aviva Plc will be reporting results tomorrow. Earlier this week, the insurer formed a joint venture to develop two City of London office and retail spaces with Allianz Real Estate GmbH. Also on Wednesday, data on U.K. house prices will give an indication on how the property market is holding up as the cost-of-living crisis intensifies.
©2022 Bloomberg L.P.
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