I’ve loved every minute of it July 20, 2023 Without aviation insurance, people can’t fly,” says Mark Skilton, Aon’s chairman of Global Speciality within the firm’s Reinsurance Solutions business. Therein lies the rub of the entire insurance industry – a sector that, often in the background, keeps the world moving. And in doing so, it often has to move at speed: Skilton explains to [...]
The City View: Sainsbury’s to cut prices, and the importance of UK private equity May 30, 2022 Today Andy Silvester talks to Michael Moore, Director General at BVCA. They discuss the scale of private equity and venture capital in the UK, their importance in the UK’s employment market, and how vital they are for companies looking to scale up. And in the headlines: Sainsbury’s CEO Simon Roberts has said that the supermarket [...]
Siemens loses £512m as it gears up for full Russian exit after 170 years May 12, 2022 Siemens is set to face a €600m (£512m) hit in the second quarter after announcing its full exit from the Russian market after 170 years.
G7 leaders commit to phasing out Russian oil May 8, 2022 Leaders of the world’s richest economies today committed to banning imports of Russian oil in a further ratcheting up of sanctions against Vladimir Putin. G7 chiefs have committed “to phase out our dependency on Russian energy, including by phasing out or banning the import of Russian oil,” the White House said in a statement yesterday. [...]
Goldman Sachs: World is entering new era of ‘bigger government’ and ‘higher taxes’ May 11, 2022 The world economy is entering an era of “bigger government” and “higher taxes,” according to a top Wall Street bank. The scaling back of red tape and stronger corporate profits that characterised the global business environment since the 1980s is set to reverse, Goldman Sachs has said. Supply-side reforms pushed through by former British prime [...]
Summer deals help bump retail sales as growth falls at slowest rate in a year July 21, 2023 Retail sales grew by 0.7 per cent in June 2023 with increases across all the main sectors, as warmer weather and a greater selection increased consumer spending. During the month, non-food stores sales volumes rose slightly by 1.0 per cent in June 2023, following a fall of 0.5 per cent in May 2023, according to [...]
Fashion retailers Boohoo and ASOS suspend sales to Russia in solidarity with Ukraine as M&S suspends shipments March 3, 2022 Fast fashion retailer Boohoo has become the latest firm to announce it has suspended sales of clothes to Russia. The Manchester-based e-commerce business joins brands such as Asos and Next, as well as designer names such as Burberry, in making a stand. In a update published on the London Stock Exchange, Boohoo said it was [...]
Full-blown Russian incursion of Ukraine triggers global market rout February 24, 2022 Global investors fled stocks today after they woke up to the news that Russian President Vladimir Putin had ordered a full invasion of Ukraine. Risk appetite poured out of traders’ mindsets as they flowed into safe assets to limit the potential spillover economic effects of Moscow troops closing in on Kiev. The capital’s premier FTSE [...]
Problem with the UK’s automotive sector ‘isn’t to do with Brexit’, says Kemi Badenoch May 18, 2023 Business and trade secretary Kemi Badenoch has said the issue with the UK’s automotive sector “isn’t to do with Brexit”, as Labour pressed the government for an “explicit industrial strategy”. Her comments came as shadow business secretary Jonathan Reynolds warned that the “automotive sector has issued warning cry after warning cry that government policy risks [...]
Zelensky urges US counterpart Biden to visit Ukrainian capital April 18, 2022 President Zelensky has urged his US counterpart Joe Biden to visit Ukraine to see how war has hit Kyiv on the ground. The White House is reportedly mulling the decision to send over a senior official to the Ukrainian capital, with defence secretary Lloyd Austin and secretary of state Anthony Blinked thought to be frontrunners. [...]