ABERDEEN SETS SAIL FOR COWES IN STYLE August 4, 2011 THE RECEIVED wisdom about sailing is that it is equivalent to “standing under a cold shower tearing up £20 notes”. Make that “standing under a fire hydrant tearing up £50 notes” and the description is spot on, said double gold-winning Olympian Sarah Gosling, as she sheltered from the rain in Bow Churchyard outside Aberdeen Asset [...]
Lloyd’s sees far higher cost of Solvency II June 30, 2011 THE COST of bringing in new Solvency II insurance regulation will cost Lloyd’s of London far more than previously estimated, its finance head warned yesterday. The insurance market initially said it would spend about £250m to prepare for Solvency II, which will change the amount of regulatory capital it holds against different risks. But in [...]
Lloyd’s sees far higher cost of Solvency II June 30, 2011 THE COST of bringing in new Solvency II insurance regulation will cost Lloyd’s of London far more than previously estimated, its finance head warned yesterday. The insurance market initially said it would spend about £250m to prepare for Solvency II, which will change the amount of regulatory capital it holds against different risks. But in [...]
CITY VIEWS: DOES THE ECONOMIC IMPACT OF THE ROYAL WEDDING BANK HOLIDAY WORRY YOU? November 24, 2010 INTERVIEWS BY IAN JONES | COLEMONT You have more motivated staff after the long break. Markets will close, though, so it will impact business for those few days. In terms of my personal life, though, I really just don’t see an impact. JOE DEARSLEY | LLOYDS OF LONDON To be honest, the impact of the [...]
Global growth fears drain confidence from markets August 18, 2011 Renewed fears over spluttering global economic growth dragged back world markets with commodity and financial stocks suffering in the increasingly bleak climate. Morgan Stanley cut its forecast for global growth, citing “recent policy errors” in the US and Europe, plus prospects of further fiscal tightening in 2012. MSCI’s world equity index fell 0.8 per cent [...]
Hardy rejects new Beazley bid November 15, 2010 Hardy Underwriting has rejected a new offer from Lloyds of London insurance group Beazley. Hardy rejected an initial offer three weeks ago. The new offer of 330p a share is up from the 300p a share bid first time round.
Hardy rejects new Beazley bid November 15, 2010 Hardy Underwriting has rejected a new offer from Lloyds of London insurance group Beazley. Hardy rejected an initial offer three weeks ago. The new offer of 330p a share is up from the 300p a share bid first time round.
FTSE continues downward spiral August 5, 2011 Markets continued the downward spiral which saw £35bn wiped off London’s blue-chips yesterday as the debt crisis and fears that the world economic recovery is not gaining traction took their toll. There were few signs of life in markets across Europe this morning with the FTSE 100 slumping 2.8 per cent on opening. Germany’s Dax [...]
Cowdery tables first-round bid for 630 Lloyds branches July 17, 2011 ENTREPRENEUR Clive Cowdery, founder of insurance consolidator Resolution, has lodged a first-round bid for 630 Lloyds Banking Group branches being sold to appease competition regulators, it is understood. He is pursuing the branches through a Guernsey-based company which advises London-listed Resolution on acquisitions, rather than through Resolution. Resolution declined to comment. Cowdery, who has a [...]
Markets remain volatile after ECB action August 8, 2011 The FTSE 100 initially fought back this morning as investors found new confidence in banking shares after the European Central Bank (ECB) moved to stabilize the beleaguered Spanish and Italian economies. Italian and Spanish bonds are being bought by the ECB to avoid a potentially catastrophic debt default by the two countries. Bond yields fell [...]