Evraz, the metal firm backed by Russian oligarch Roman Abramovich, is holding an unusual annual general meeting in Berkeley Square this Friday.
The company has been under sanctions for more than 12 months following Russia’s invasion of Ukraine, and several of its other administrators have been targeted along with Abramovich.
Sanctions didn’t kill last 12 months’ annual shareholders meeting, however this time it may seem like the bait is blowing out.
In photos: The company has been under sanctions for more than 12 months following Russia’s invasion of Ukraine
There are only three resolutions. Two votes are there to appoint new impartial administrators and one allows the company to call a meeting with at least 14 days notice.
The sanctions mean that no metropolitan auditor has been able to collect their accounts. Evraz claims he has repeatedly asked the federal government to appoint bean counters, but to no avail.
THG boss Matt Molding said last week that annual conferences “can be as boring as paint drying”.
In any case, given the brevity of Evraz’s agenda, the vote should be quick.
Boohoo model Warehouse repo ASA
Fast-style giant Boohoo is no stranger to controversy.
While the company’s fallout with Revolution Beauty grabbed the headlines, its clothing model Warehouse was slammed by the Advertising Standards Authority last week for using a mannequin to show “unhealthily thin”.
The ad was banned after the watchdog deemed it “irresponsible”.
Warehouse said the mannequin was a size eight, but the watchdog said her pose made her look even slimmer.
Can Moonpig get back into orbit?
After its dizzying debut when it went public in February 2021, online greeting card and gift retailer Moonpig, whose logo features a cute pig wearing an astronaut helmet, has only had a few crash landings.
The share is down almost two-thirds from £3.50 and has recently fallen out of the FTSE 250.
Further pain is expected this week as analysts expect it to reveal a drop in annual earnings.
Postal strikes and the reopening of physical card retailers after Covid failed to help last 12 months, and house price woes in the wake of the disaster cast a shadow over the immediate outlook.
But look beyond and the city is a lot more fun. Perhaps Moonpig is going to return to orbit after all.
El Nino could be pub gossip
Even the most ardent followers of local weather information could be forgiven for not figuring out every element.
This includes the importance of El Nino, a phenomenon in which sea temperatures in the Pacific Ocean rise by 0.5% above their long-term normal.
It usually takes place in December and is believed to be a reference to the new baby Jesus by Peruvian fishermen.
If you’re a bar-goer, you’ll quickly hear how it’s usually mentioned.
Analysts at Barclays have warned that the climate pattern could increase the value of wheat and barley for beer production.
Food and drink inflation has already skyrocketed, so many people can quickly cry into their pint.
