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Transition Finance Is Key To 2024 Climate Investing

If you’re like so many people in the world, you’re concerned about the climate crisis. If you are also an investor, then you should keep your attention on transition finance. “Transition finance” is a new term that’s being tossed around to describe industries and infrastructure that promote a net zero economy . You might be saying, it’s another way to discuss “green finance,” but that’s not necessarily so, as green finance looks to climate solutions like wind farms or battery plants. The term “transition finance” emerged during Conference of the Parties (COP) 28 when 200 nations agreed to move away from fossil fuels in a nonbinding…

HS2 chief admits project could cost up to £66.6bn

The estimated cost of building HS2 between London and Birmingham has soared to as much as £66.6 billion, MPs heard. executive chairman Sir Jon Thompson told the Transport Select Committee the estimated cost for phase one was between £49 billion and £56.6 billion at 2019 prices but adjusting the range for current prices involved "adding somewhere between eight and 10 billion pounds". In 2013, was estimated to cost £37.5 billion (in 2009 prices) for the entire planned network, including now-scrapped extensions from Birmingham to Manchester and Leeds. Sir Jon said reasons for the cost increase included original budgets being too low,…

London restaurant openings in 2023 highest since before Covid pandemic

Business | Business News Restaurant openings in London last year hit their highest level since before the pandemic — despite the enormous pressures facing the industry from soaring energy and food bills, transport strikes and home-working. Analysis shows there were 253 launches in the capital , up from 243 in 2022 and well above the 216 seen in 2021. The record remains the 281 openings seen in 2019, the year before Covid struck and hammered the industry. The steady recovery over recent years suggests that the London restaurant scene may be in a healthier state than feared, although closures are also thought to be on the rise. The…

Bar chain Nightcap reports record revenues despite train strikes and inflation

Business | Business News Cocktail bar chain Nightcap achieved record revenues in the latter half of 2023 despite challenges posed by train strikes and the cost-of-living crisis. The company, led by former Dragons’ Den star Sarah Willingham , witnessed a 40.9% increase in revenue of £32.7 million during the latter half of 2023 compared to £23.2 million in the first half of the year. Nightcap, which owns 46 bars across the UK, reported its highest monthly revenue in December 2023 in its nearly three-year history as punters flocked to its bars over the Christmas period. Ms Willingham said it was “very welcome news” as 2023 was a …

Mortgage demand jumps nearly 10% to start the year, even as interest rates tick…

A "For Sale" outside a house in Hercules, California, US, on Tuesday, May 31, 2022. Homebuyers are facing a worsening affordability situation with mortgage rates hovering around the highest levels in more than a decade. David Paul Morris | Bloomberg | Getty Images Mortgage rates moved a little bit higher last week, for the second week in a row, but are still in a range that consumers appear to like. Total mortgage application volume rose 9.9% last week compared with the previous week, according to the Mortgage Bankers Association's seasonally adjusted index. An additional adjustment was made for the New Year's holiday. The average…