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☆ India's Infosys signs $454-mln deal with Danske Bank
▼ + stars: | 2023-06-26 | by ( ) www.reuters.com time to read: +1 min

BENGALURU, June 26 (Reuters) - Infosys (INFY.NS), India's No.2 IT services provider, signed a $454-million contract with Denmark's Danske Bank on Monday, at a time when the broader sector is struggling with a slowdown in an uncertain global economy. The IT company will help digitize the lender's core business and add more cloud and data facilities to it, including Infosys acquiring Danske Bank's IT centre in India, it said in a regulatory filing. The contract is for five years, with an option to renew for one more year for a maximum of three times. Bengaluru-based Infosys' contract comes days after Mumbai-based bigger rival TCS signed a deal worth 840 million pounds with British pension scheme Nest, for an starting tenure of 10 years. "Despite a strengthened order pipeline, the effects of this deal might be offset by macro factors such as inflation and increased labour costs," Akshara Bassi, an analyst at Counterpoint Research, said on the Danske Bank deal.

Persons: Akshara Bassi, Navamya Ganesh Acharya, Varun, Sohini Goswami, Nivedita Organizations: Infosys, Denmark's Danske Bank, Danske Bank's, TCS, Counterpoint Research, Danske Bank, Varun Vyas, Thomson Locations: BENGALURU, India, Bengaluru, Mumbai

☆ Beyoncé shows blamed for fueling inflation in Sweden
▼ + stars: | 2023-06-16 | by ( Patrick Smith | ) www.cnbc.com time to read: +5 min

Beyoncé performs onstage during the opening night of the “RENAISSANCE WORLD TOUR” at Friends Arena on May 10, 2023 in Stockholm, Sweden. Beyoncé has won a record number of Grammys, has become one of the best-selling musical artists in the world and is on a sold-out, record-breaking world tour. "So whilst Beyoncé may have caused a shock to one month's data, she's not the reason for inflation in Sweden that's well above the central bank's target," he said. As in many European countries, Sweden has faced sharp inflation and higher household costs since Russia's invasion of Ukraine disrupted the wholesale energy market and distribution networks. And as for Grahn, he is not expecting to remain of interest to either Beyoncé fans or the world's media.

Persons: Beyoncé, Queen Bey, Sweden's, Michael Grahn, It's, Grahn, hadn't, Bruce Springsteen, James Pomeroy, she's, Marcus Widén, I'm Organizations: Friends Arena, National, Denmark's Danske Bank, NBC, HSBC, Sweden that's, Entertainment, Nordic, European Union Locations: Stockholm, Sweden, United States, North Carolina, Europe, Swedish, Gothenburg, Ukraine

SummarySummary Companies ClientEarth files novel UK case to hold directors accountableUK, Swedish, Danish, Belgian and French funds support lawsuitClaim alleges Shell board mismanaging climate risk, breaches lawLONDON, Feb 9 (Reuters) - A group of European institutional investors is backing a novel London lawsuit against energy giant Shell's (SHEL.L) board over alleged climate mismanagement in a case that could have far-reaching implications for how companies tackle emissions. Shell rejected the allegations, saying its climate targets were ambitious and on track and that its directors complied with their legal duties and acted in the company's best interests. "ClientEarth's attempt ... to overturn the board's policy as approved by our shareholders has no merit," a spokesperson said. London CIV said its Shell stake was a "primary hotspot of risk and exposure within our portfolio". The case comes two years after Shell was ordered to slash carbon emissions in a landmark Dutch climate case.

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