CBI: New boss Rain Newton Smith doesn’t take crisis-hit group’s future ‘for granted’ May 12, 2023 The new head of the crisis-hit CBI, Rain Newton Smith, has said she does not take the future of the group “for granted” and warned the task of winning back trust from businesses is “as big as it is urgent”. Newton Smith, who was parachuted in to head Britain’s biggest business group last month, made [...]
Capita warns of £20m hit from cyber attack May 10, 2023 A cyber attack against outsourcing firm Capita which saw personal information leaked onto the dark web is likely to cost £15-20m to resolve, the firm revealed this morning.
Pension funds may need a nudge into the stock market after £50bn start-up pledge, says City minister July 11, 2023 The government may next need to push top pension funds to invest in London’s stock market as ministers look to solve a dearth of domestic investment in Britain’s big listed firms, the City minister has said.
Socially conscious insurer Lemonade makes first entry into UK market October 3, 2022 New York insuretech company Lemonade Inc today launched in the UK market with a view to disrupting Britain’s centuries-old insurance sector with its socially-conscious, AI-driven business model. The digital insurer aims to break the “cycle of distrust that plagues the insurance industry” with its pledge to cap its margins at 25 per cent by donating [...]
COP28: Labour pledge to ‘make UK world’s green finance capital’ November 30, 2023 Labour would boost global investment by making Britain the green finance capital of the world, Sir Keir Starmer has said.
New CBI boss determined to rebuild group and ‘win back trust’ after sexual misconduct scandal April 26, 2023 The new boss of the CBI has pledged to “rebuild and reimagine” the crisis-hit organisation and “win back trust” as the group continues to deal with an ongoing sexual misconduct scandal. Rain Newton-Smith, the new director-general of the Confederation of British Industry (CBI), today apologised to the women who made allegations of sexual harassment, assault [...]
Hunt lays out plans for sweeping pension consolidation to unlock start-up cash November 22, 2023 The Chancellor Jeremy Hunt has laid out plans to consolidate the fragmented pension market in the UK riday in a bid to channel potentially billions of pounds of capital into start-ups and listed companies.
Chancellor to launch £7.3bn national wealth fund to ‘unlock investment’ July 9, 2024 Chancellor Rachel Reeves will launch a national wealth fund with £7.3bn of state funding to “unlock investment” in UK growth industries.
Banks lead UK firms in dividend payments after HSBC dishes out £8.4bn January 25, 2024 Banks led UK firms in dividend payments last year for the first time since the financial crisis, according to new research, on the back of interest rate hikes.
Businesses’ payroll bill to soar by £300m as London living wage increases October 23, 2023 Payroll costs in the capital are set to soar by over £300m as the London living wage increases by a tenth. Businesses signed up to the voluntary scheme will see their salary expenditure go up by £304,200,000 after the rate jumps from £11.95 an hour to £13.15 for 130,000 employees. Firms accredited include half the [...]