Global
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Sam Laidlaw in talks for chairmanship amid strategic shifts. The former Centrica CEO’s discussions to succeed Helge Lund as BP chairman come at a tense time as BP faces shareholder pressure to accelerate its strategic transformation. Activist investor Elliott Management has urged BP to abandon renewable commitments, sparking shareholder dissent.
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UK job adverts rise slightly in May. The Recruitment and Employment Confederation reported a 0.3% increase in new job adverts, while active postings fell by 1.8%, indicating a sluggish market amid economic challenges and rising employer costs.
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EFRAG aims to halve CSRD data points. The group has released a draft status report on revising the European Sustainability Reporting Standards (ESRS) to ease compliance burdens. The group anticipates reducing data points required for CSRD reporting by over 50% while maintaining core objectives.
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UK retail sales fell sharply in May. Retail volumes dropped by 2.7% amid reduced spending on food and clothing, marking the steepest decline in 18 months. Analysts attribute the fall to weaker supermarket performance and persistent inflationary pressures.
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Climate Tech Partners secures £40m funding round. The investment will back the rollout of low-carbon heat and power technologies across the UK, with a focus on deploying smart systems in homes, buildings, and grids to support national decarbonisation targets.
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Government borrowing rose to £17.7bn in May. This marked the second-highest May figure in over three decades, exceeding expectations and reigniting debate over the UK’s fiscal path. While tax receipts continue to climb, the persistent deficit and pressure to fund public services suggest the Chancellor may soon face difficult decisions on taxation.
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Carbon Upcycling secures $18 million investment. Cleantech firm Carbon Upcycling has raised $18 million to expand its CO2 capture and utilisation technology for building materials, led by Builders Vision.
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UK-headquartered ESG software analytics provider Datamaran has introduced Datamaran Core, a novel solution intended to aid companies in pinpointing and handling ESG issues, risks, and opportunities.
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Raspberry Pi executives reduce stakes after IPO. Founder Eben Upton and CFO Richard Boult have sold shares worth £1.8m and £455,000 respectively, following the end of the company’s lock-up period. Despite a recent dip in share price, Raspberry Pi maintains profitability and FTSE 250 status.
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Ten thousand companies removed from UK register. Companies House has launched a sweeping purge of suspected shell firms and fraudulent entities, with new powers allowing it to challenge, reject, and dissolve non-compliant organisations. The action forms part of a broader campaign to restore corporate transparency and tackle organised crime.