Railway pension scheme, Railpen, invests in British renewable energy
RPMI Railpen is one of the UK’s largest and longest established pension funds for employees who are connected to the railway industry. They operate on behalf of 350,000 members, safeguarding and investing their pensions of £28 billion, collectively. The company’s latest move has been the acquisition of a Scottish wind farm from building material company, BayWa, therefore supporting the UK’s renewable energy sector with direct investment. The Tralorg Wind Farm in South Ayrshire has been purchased by Railpen’s in-house manager for an undisclosed amount. The wind farm is due to open next year and is currently being built with eight 2.35MW turbines in the process of being erected. The farm is one of the only onshore wind farms in the...
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£25m balance sheet error causes plummets in Ted Baker shares
The suffering British retailer has appointed a law firm to carry out a substantial investigation after it overestimated the value of its stock. The company has recently appointed a new finance director who, after initial inspection, believes that the value of the balance sheet´s inventory has been overstated by £20m to £25m. The mistake won´t affect this year´s economic situation as it relates to previous years, however, the luxury clothing business has hired London law firm Freshfields Bruckhaus Deringer to look into the matter further. Independent accountants will also be brought in as part of a new subcommittee within the company that will be chaired by director, Sharon Baylay. Ted Baker´s shares dropped by 15 per cent at first, but...
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International News
EU agrees to postpone Brexit extension date to January 31
European Council President, Donald Tusk, stated that EU nations - who will remain in the bloc once Britain leaves - have agreed to accept Johnson´s request for a delay in Brexit. He tweeted a summary on Monday morning: “The EU27 has agreed that it will accept the UK´s request for...
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Twitter blames ad targeting problems for plummet in shares
Twitter´s shares have recently suffered after the social media giant secured a high amount of new registrations, but struggled to sell advertising marketing to them. Daily users of the social media platform increased to 145 million, beating analyst estimates for 141 million, up 17 per cent year-on-year. The company´s profits...
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Investment News
