Money blog: Why Gen X could be first to never retire | Money News

By Sarah Taaffe-Maguire, business and economics reporter 

BP’s hiking of fossil fuel production in the face of overwhelming evidence it will worsen the rapidly changing climate was done for one reason – to increase shareholder value.

After the announcement, however, its share price was down 1% at points, making it one of the worst performers among the most valuable London Stock Exchange listed companies which make up the FTSE 100.

Another company rolling back its green ambitions is carmaker Aston Martin.

It’s the worst performer of the more UK-focused FTSE 250, shedding more than 13% of its stock value. In an effort to reduce about £25m in costs, it’s cutting 170 roles – about 5% of its global workforce. 

The British company’s first fully electric car now won’t be launched until near the end of the decade, pushed out from a planned 2026 release.

Overall though, both FTSE 100 and 250 were up 0.57% and 0.79%, respectively. There’s been little change in sterling values through the week, with one pound worth $1.2647 or €1.2062.

There’s been a partial recovery after the tumble in Bitcoin yesterday. One Bitcoin now costs $88,680, down from the highs of over $105,000 that followed Donald Trump’s inauguration, despite the brief rally on Wednesday.

After voting to keep its diversity equity and inclusion targets, Apple shareholders look set to be rewarded with a share price fall when the US markets open today. 

The tech giant has targets in place to address the fact that in 2022 nearly three-quarters of its global workforce were white and Asian and nearly two-thirds were men. Policies to address inequalities have been the subject of Trump’s ire as he seeks to remove them from the federal government.