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Construction rental group has been listed in London since 1986 but makes nearly all its profits in the US

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Ashtead Group, the £27bn construction rental company, plans to shift its primary listing to New York in the latest blow to the London stock market.

The company, which has been listed on the London Stock Exchange (LSE) since 1986, said the US was a natural home for the company, given that nearly all of profits – about 98% – are made across the Atlantic.

Sentiment

0.98

Bearish/Bullish

100

26.12.24 09:00

by theguardian.com

UK gambling with climate targets over carbon capture, say campaigners

Potential IPCC rule changes could award planned carbon savings from burning US wood pellets to the exporter, not the importer

The UK government is gambling with its own climate targets on claims that the Drax power plant will create “negative emissions” because new rules could hand the carbon savings to the US, campaigners say.

The owners of the North Yorkshire power plant have promised ministers that a key project to capture the carbon emissions created from burning biomass wood pellets imported from US forests will count as negative emissions in Britain’s carbon accounts.

United States of America