PROMOTIONS: Vladimir Putin sounds retreat for Russian London firms

Distrust prevailed in the city when British authorities refused to exclude Russian firms from the London Stock Exchange after the invasion of Ukraine.

But now the departure of Russian companies is gaining momentum thanks to none other than Vladimir Putin.

Last week, Lukoil announced that it would cancel listing on the British stock exchange by June.

Focus: Vladimir has introduced a law banning foreign listings of Russian companies

This follows a law passed by Putin in mid-April, which prohibits the placement of Russian companies on foreign letters.

They can still apply for exceptions – as retail giant Magnet did last week – but it’s unclear how flexible the Kremlin is willing to be.

The LSE has suspended shares in dozens of Russian firms since March, meaning the companies have not benefited from their presence in London.

But as the former FTSE 100 Evraz, a steelmaker backed by ostracized oligarch Raman Abramovich, has been sanctioned in recent days, speculation is growing that a wave of new departures will follow in the coming weeks.

Ordinary sailing for Harbor Energy?

Harbor Energy is preparing to release first-quarter figures following the results of the Shell and BP blockbusters.

The harbor is likely to be the best indication of how rising oil and gas prices are affecting groups operating in the North Sea, as it is one of the largest producers in the UK.

One for tax observers.

Muria’s guilt threatens a new term for M&C Saatchi

Another month, another deadline for British Technology Queen Winnie Moore to submit an improved bid to M&C Saatchi.

The 59-year-old Moore is due to take the next step by 5pm on Tuesday.

The ad group, which is on the AIM list, has been on guard since its first offering in January using the Advanced AdvT car.

M&C Saatchi said it was still in talks with the serial entrepreneur when it announced in late April a fourth extension to “put up with or shut up.”

But Muria – the firm’s deputy chairman and largest investor – is facing a tough battle after the ad group published bright results that showed it was back to profit and saw revenue rise by a fifth.

However, there can always be a fifth extension.

Argo Blockchain is going to start “mining” bitcoins in Texas

Ahead is a big week for Argo Blockchain, as its purpose-built facility in Texas is set to begin “mining” bitcoins.

The Dickens County website has a huge amount of supercomputing energy-consuming equipment that can access new bitcoins.

However, the timing may be better.

Mining will begin after the fall, as a result of which the flagship digital currency this year fell by a fifth to about $ 36,000 (29,000 pounds).

Shares of Argo also suffered a fall, falling more than a third. Investors will be intrigued whether it will be enough to reach the limit in production to repel another attack by the mysterious research organization Boatman Capital.


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