Recession knife-edge: Consumer spending on credit at £1.3bn as house prices continue to slide May 2, 2023 Britain’s better than expected economic performance since the turn of the year is poised to have lured consumers into splashing the cash on their credit cards, new numbers out this week are tipped to show. Families are tipped by markets to have borrowed £1.3bn in March, which would signal spending in the UK is holding [...]
Four day week? Sure – but you better be in on a Monday, say bosses March 27, 2023 EMPLOYERS are more open to the idea of a shorter working week than many think – but you can forget about working from home if you want Friday off. That’s the conclusion of a survey of more than 10,000 employees and bosses released today by Hays, the recruitment firm. A third of employers are more [...]
Hopes of Christmas spending splurge nudges UK business confidence higher December 21, 2022 UK businesses are hoping the Christmas spending splurge will give them a welcome boost before a long recession sets in, a new survey out today shows. According to Lloyds Bank’s business barometer index, every UK region notched a positive business confidence reading for the first time since July. Eight out of the 11 areas recorded [...]
Chinese firm that owns Lloyd’s building brings in architects to draw up plans if insurer leaves June 23, 2022 The Chinese insurance giant that owns Lloyd’s of London’s City headquarters has brought architects into the Grade I listed building to come up with ideas for what to do with it if Lloyds decides to leave. China’s biggest insurer Ping An – which bought the Lloyd’s building for £260m in 2013 – has brought in [...]
FTSE 100 nudges higher after BoJ tightening boosts UK banks December 20, 2022 London’s FTSE 100 nudged higher today after banks were boosted by yet more signals from the global central banking community that policy will keep tightening next year. The capital’s premier index added 0.13 per cent to close at 7,370.62 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of [...]
Comparethemarket owner backs London ‘insurtech’ Superscript in £45m funding round January 9, 2023 London-based insurance fintech Superscript announced it had bagged a £45m funding round led by the owner of Comparethemarket.com today, in a boost to the UK’s burgeoning ‘insurtech’ sector after a flurry of investment in the past two years.
Close Brothers shares collapse after FCA auto finance probe forces it to scrap dividend February 15, 2024 Shares in Close Brothers have collapsed after it scrapped dividend payouts for the current financial year and put 2025 rewards under review, with the group bracing for potential compensation costs from a motor finance review by the City watchdog. The news sent the group’s shares down 28 per cent in London on Thursday morning. Close [...]
Why the Old War Office is the most significant London hotel launch in years September 20, 2023 What’s the Old War Office? Well, it’s two things. Firstly, it’s the old war office where Churchill valiantly conducted the war effort, and it’s also a brand spanking new London hotel that’s likely going to be the poshest new hotel to open in London in years. The building opened in 1906, but the hotel’s opening [...]
Why It Doesn’t Pay To Be A Woman In Finance June 28, 2023 From cupcakes on International Women’s Day to marketing campaigns that shine a light on female employees making their mark, many organisations are paying lip service when it comes to addressing the gender pay gap in the UK, yet doing very little to offer real equality in the workplace. It’s even more pronounced for women working [...]
From cow herder to corporate chief – meet the man who leads Axa’s City division March 29, 2023 Axa’s UK chief executive Claudio Gienal is willing to admit he’s a tough boss. Speaking to City A.M., the Swiss exec, who took up his position as the head of Axa’s UK & Ireland business in 2017, is very clear that he doesn’t like “excuses”. He’s also clear that the people around him have to [...]