How Net-Zero’s Troubles Made BP Vulnerable | In the City

Last weekend, Bloomberg revealed that activist investor Elliott Investment Management () had built a large stake in BP Plc (). BP shares climbed as the news broke, perhaps attributable to the fact that Elliott has a track record of driving significant change within companies. Investors may also see this as a timely intervention, given BP’s performance has slumped over the past few years, relative to its competitors.

On this week’s In The City, hosts Francine Lacqua and Allegra Stratton sit down with Bloomberg’s Aaron Kirchfeld to discuss the potential geopolitical ramifications of Elliott’s move, why BP’s poor performance over the last few years made a takeover more likely and how the shift away from net-zero, despite the accelerating climate crisis, has facilitated such a move.

Is London having another moment? Shaken by Brexit, decimated by the pandemic, threatened by new ways of working and a worsening cost-of-living crisis, the city remains Europe’s (and arguably the world’s) beating heart for finance and for culture. In the wake of turmoil, The City of London is reinventing itself. Every week on In The City, Bloomberg’s Francine Lacqua and David Merritt go behind the scenes in the Square Mile and the wider metropolis, uncovering the stories and speaking to the people that matter.

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