US subsidies make UK financial reform urgent, business warns

LONDON : U.S. clean technology subsidies are sucking capital from Europe, making it more urgent to improve London as a global financial centre, business bosses told UK lawmakers on Wednesday.

Pension funds in Britain, which have long preferred safer assets like government bonds to stocks, need consolidation to achieve scale for investing in start ups, Symonds said. "The effect of what's happening through the Inflation Reduction Act across the whole of Europe is like a dirty great hoover on full suction mode," said Jonathan Hill, who authored a government-backed report on reforming UK listing rules.

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Essity mulls selling Vinda stake and Consumer Tissue Private Label Europe businessSTOCKHOLM : Hygiene products group Essity said on Wednesday it has initiated a strategic review of its stake in China-based Vinda and its Consumer Tissue Private Label Europe business.The Swedish company said in a statement the aim of the review is to reduce its Consumer Tissue division's share of group
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