CITY WHISPERS: Texans blacklist HSBC for its ‘green social agenda’

HSBC bankers eager to travel to Texas may have to put away their cowboy boots after the Lone Star State added the lender to its list of eco-sanctions.

There are a number of reasons why this raises eyebrows – not the least of which is that few people knew that Texas is cracking down on companies it believes to be too anti-fossil fuels.

Glenn Hegar, the Texas Comptroller of Public Accounts, has described HSBC’s new greener energy policy as a “prime example of a broader movement” in the financial industry to drive a “social agenda.”

This blacklist could prohibit Texas government agencies from investing in one of Europe’s largest banks.

Given HSBC’s track record of being criticized for its supposedly anti-environmental policies, this development is practically a badge of honor.

Other big names targeted include Goldman Sachs, BlackRock, Fidelity, Abrdn and UBS. You cannot please everyone.

Kromek increasingly relevant in turbulent times

Perhaps you were concerned about the news of a leak at a nuclear power plant in the US state of Minnesota and the temporary displacement of 2.5 tons of uranium in Libya (recovered a few days later).

For London-listed tiddler Kromek, these reminders of our “unsafe world” mean his biohazard and radiation technology is becoming increasingly relevant, according to research from Equity Development.

Every cloud, huh?

‘King of Mining’ builds critical stakes

Congolese copper miner Critical Metals has told anyone who will listen about its plans to close deals and its willingness to expand.

But only eagle-eyed mining investors will have noticed that Critical Metals may be more ahead than many of its tiny-cap peers.

The largest shareholder in the £14.5 million group is founder Russell Fryer, who owns nearly 20 per cent of the shares.

But in recent months, former JP Morgan vice-chairman Ian Hannam, widely known in the City as the “King of Mining,” has built up a personal stake worth nearly 10 percent of the company.

It seems that the connections of a master rainmaker could come in handy for Fryer and his Congo colleagues.

Wickes solution for high street?

Could Wickes be the next DIY retailer trying to spruce up the high street?

Chief executive David Wood said last week he was “curious” about the idea of ​​opening mini or “local” stores – which B&Q and Ikea are already testing – in the wake of an 11 percent drop in profits.

Bringing hammers and screws to the masses, rather than waiting for them to visit huge retail parks, could be a boon for cities.

It could also appeal to a new demographic that Wickes is targeting: younger customers who want to make minor repairs to homes they rent.

Keep the shops open late and maybe shoppers can pick up a kebab and tape measure as they make their way home from the pub.