Shell shake-up
Royal Dutch Shell plans to ditch its dual share structure and move its tax residence from the Netherlands to the UK, in moves the oil group says will strengthen its competitiveness. The overhaul comes less than a month after Wall Street activist investor Third Point announced a stake in the company and pushed for changes. Shell says the changes will "increase the speed and flexibility of capital and portfolio actions". The company will still be listed in Amsterdam, London and New York, but will drop the words "Royal Dutch" from its name.
Financial Times
Bubble territory
Investors are living in a "dreamland" brought on by global central banks’ decision to continue pumping up the world economy even as it has rebounded sharply from the pandemic, says Pimco founder and bond investor Bill Gross. Historically low interest rates and mammoth bond-buying programmes have nurtured a widespread bout of financial euphoria in everything from stocks to digital assets such as nonfungible tokens.
Financial Times