Demand for food delivery helps Uber narrow losses in the first quarter May 5, 2021 Uber said it saw continued demand for its food delivery business in the first quarter but bookings in its ride-hailing division were flat on the previous quarter. The company delivered revenue of $2.9bn in the first quarter but took a $600m hit to account for a settlement relating to the classification of its UK drivers. [...]
Hiscox tops list of insurers facing business interruption claims May 12, 2021 Hiscox faces paying the out on the largest number of business interruption claims, according to data compiled by the Financial Conduct Authority (FCA). Hiscox has accepted 6,692 business interruption claims for Covid-19 losses and faces making a decision on whether another 3,122 pending claims are valid, data published by the FCA today shows. The insurance [...]
Quo vadis, Georgia? The UK and EU have a cautious path to tread with its diplomatic ties September 10, 2021 The last year or two in Georgian politics have thrown up several disturbing events. None are more perplexing than the nations’ decision to engage in a cooperation agreement with the Belarusian KGB last month. While Western countries ramped up sanctions against the regime in Minsk, Georgia’s move was at odds with its aspirations for EU [...]
Uber’s treatment of workers wasn’t sustainable, but the ruling shouldn’t be the downfall of the gig economy March 18, 2021 This week we saw Uber’s lengthy court battle with regulation come to an end, as the Supreme Court ruled that it must classify its drivers as workers, entitling them to minimum pay, holiday and pensions. The debate around the welfare of gig economy employees has been on the agenda for a good few years now, [...]
Saturday Sitdown: Uber UK boss Jamie Heywood on the recovery, workers’ rights and electric vehicles May 1, 2021 Jamie Heywood, Uber’s top man in the UK, Northern and Eastern Europe, has a spring in his step – at least, as much as you can see that on Zoom. Since the reopening of London’s bars and restaurants, with tables next to heaters prized like rare artefacts, Uber has seen rides spike upwards as Londoners [...]
Exclusive: Crunch time for insurers on Covid-19 discount decisions November 30, 2020 It is crunch time for the insurance industry, which now must decide what Covid-19 refunds and discounts to give customers ahead of the deadline set by the city regulator. Insurers have until 3 December to decide where, if at all, it is appropriate to apply Covid-19 related refunds or discounts on insurance policies. The Financial [...]
Irritated Queen about COP26 in Glasgow: ‘I still don’t know who is coming’ October 15, 2021 The Queen has appeared to suggest she is irritated by a lack of action in tackling the climate crisis, and the monarch still has no clue who will attend the upcoming COP26 conference in Glasgow. Her remarks emerged in clips of a conversation filmed on a phone camera during a trip to Cardiff for the [...]
Uber books $600m hit from UK drivers’ rights ruling May 6, 2021 Uber has booked a $600m (£431m) hit following a landmark court ruling that forced the ride-hailing giant to pay its drivers minimum wage and holiday pay. The San Francisco-based app last night said it had incurred the costs to settle historical claims relating to the classification of drivers as workers during the first quarter. In [...]
Shamima Begum made her choice and shouldn’t be given a path back to UK March 1, 2021 It is not often that a British court decision makes the news for the right reasons. So used are we to judgements that fly in the face of what appears obvious to any non-legal mind, that when the opposite happens it is often met with incredulity. Yet last week, the UK Supreme Court astonished many [...]
Illuminate Financial closes $100m round with backing from JP Morgan and Barclays March 17, 2021 London-based VC firm Illuminate Financial has closed a $100m round with backing from JP Morgan Chase and Barclays. The fund, which is Illuminate’s second, was anchored by Deutsche Borse and IHS Markit, with additional backing from Draper Esprit and family offices. It was launched in early 2019 before closing in January 2021. “It has been [...]