CITY WHISPERS: Angry Texans blacklist HSBC over ‘green social agenda’ – Lone Star State adds lender to eco-sanctions list
HSBC bankers keen on a trip to Texas may need to put away their cowboy boots after the Lone Star State added the lender to its list of eco-sanctions.
There are a number of reasons why this raises eyebrows — not least because few people knew that Texas was cracking down on companies it thought were too anti-fossil fuel.
Glenn Hegar, the Texas public auditor, described HSBC’s new greener energy policy as a “great example of a broader movement” in the financial sector to promote a “social agenda”.
Sign language: Blacklist could ban Texas government entities from investing in one of Europe’s biggest banks
This blacklist could prohibit Texas government entities from investing in one of Europe’s largest banks.
Given HSBC’s track record for its supposedly anti-environmental policies, this development is practically a badge of honor.
Other big names targeted include Goldman Sachs, BlackRock, Fidelity, Abrdn and UBS. You can’t please everyone.
Kromek increasingly relevant in troubled times
You may have been worried by news of a leak at a nuclear power plant in the US state of Minnesota and the temporary move of 2.5 tons of uranium to Libya (recovered a few days later).
For London-listed tiddler Kromek, these reminders of our “dangerous world” mean its biohazard and radiation technology is becoming increasingly relevant, according to research by Equity Development.
Every cloud, huh?
The ‘King of Mining’ is building critical turnout
Congolese copper miner Critical Metals speaks to all who hear of his trading plans and drive to expand.
But only eagle-eyed mining investors will have noticed that Critical Metals might have a bigger lead than many of its small-cap peers.
The largest shareholder in the £14.5m group is founder Russell Fryer, who owns almost 20% 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 nearly 10% personal stake in the company.
Sounds like the connections of a master rainmaker could come in handy for Fryer and his fellow Congolese.
Wickes fixed for main street?
Could Wickes be the next DIY retailer to attempt to fix High Street?
Chief executive David Wood said last week he was ‘curious’ about opening mini or ‘local’ stores – which B&Q and Ikea are already testing – following an 11% drop benefits.
Bringing hammers and screws to the masses, rather than waiting for them to visit the huge outlets in retail parks, could be a boon for cities.
It may also appeal to a new demographic that Wickes is targeting – younger customers who want to make small repairs to the homes they rent.
Keep the shops open late and maybe shoppers can grab a kebab and tape measure on their way home from the pub.
