The CAPE - Centre des Arts Pluriels Ettelbrück is hosting the third edition of its A CAPE'lla Festival. Delano has 2 festival passes to give away.
The A CAPE'lla festival showcases the art of a capp...
António Guterres, the UN secretary general (on right), said of the Cop25 conference conclusion: “The international community lost an important opportunity to show increased ambition on mitigation, adaptation and finance to tackle the climate crisis.” Guterres is pictured speaking at the outset of the UN summit in Madrid. Photo credit: UNFCCC
Sisters tell Blackrock to take climate action, Luxembourg not party to Fiat tax appeal and fund administrator sets Woodford repayment schedule. Delano’s breakfast briefing for Monday.
Climate talks end with compromise deal
The UN’s Cop25 conference, meant to flesh out detail on the Paris climate change accord, ended with what activists call a watered down conclusion. After two weeks of talks, no agreement was reached on rules for a global carbon market. Wealthier countries promised to present concrete plans on cutting emissions at next year’s Cop26 meeting. But the deal “expresses the urgent need” for action. Sources: BBC, Deutsche Welle, France 24, Financial Times and The Guardian.
Nuns challenge Blackrock over climate emergency
Sisters of Mercy of the Americas, an investment fund for 9,000 Catholic nuns, has called on Blackrock, one of the world’s biggest money managers, to take action on climate change. First reported by: Financial Times. More sources: The Guardian and Quartz.
Fiat to fight tax bill without grand duchy
Luxembourg is not joining the appeal by Fiat and Ireland, to the European Court of Justice, of the European Commission order to pay €30m in back taxes, per Bloomberg.
Brexit “clarity” for financial sector
The Wall Street Journal mentioned Luxembourg’s success in attracting private equity firms and family offices from London ahead of Brexit (and other shifts from the City to the EU27) in its review of what the UK election results mean for the Britain’s financial sector. The WSJ wrote: “So far, the exodus of financial workers that many predicted after the U.K. voted to exit from the European Union has been more of a trickle” and that “London is still expected to retain its global hub status, at least for now, City workers and observers say.”
The US investment bank Morgan Stanley said the number of investors attending its space summit last week was three times larger than the previous year. Source: CNBC. More on conference: Benzinga.
Boeing considering 737 Max pause
Boeing’s board of directors may cut or suspend production of its 737 Max jets after learning regulators may not reapprove the troubled planes for flying until next year. First reported by: The Wall Street Journal. More sources: CNBC, Financial Times and Reuters.
M&A: Giant created in flavourings and nutrients industry
Police in the Indian capital clashed with protestors rallying against a controversial citizenship law which excludes Muslims. Sources: AFP, AP and BBC.
Arsenal broadcast cancelled after Ozil posts
China’s state broadcaster, CCTV, pulled an Arsenal-Manchester City match from its schedule after Arsenal player Mesut Özil made critical remarks on social media about China’s treatment of its Muslim Uighur minority. Sources: BBC, Deutsche Welle and Reuters.
Here are 5 business & finance stories you may have missed
Investors: SRI/ESG funds started December with record-breaking inflows, per Marketwatch. Compliance: Airbnb is reportedly purging unauthorised listings to comply with local laws ahead of its expected IPO, per CNBC. Disclosures: In an appeal filing, Amazon said it did not win a $10bn US Defense Department contract partly because of Donald Trump’s “repeatedly expressed determination to, in the words of the president himself, ‘screw Amazon’”; but the Pentagon said, “There were no external influences on the source selection decision,” per CNBC. Environment: An American NGO secretly tagged and tracked discarded electronic devices and discovered a major e-waste recycler was illicitly sending mercury-filled monitors to Hong Kong, per The Verge. Regulation: Selling conceptual pieces of art, such as Maurizio Cattelan’s ‘The Banana’, in the US apparently falls under securities trading law, per Axios.
“The other in-laws”
Taking on your spouse’s enemies when you get married makes your relationship better, according to The Cut.