House price decline hurts Just Group’s solvency ratio May 14, 2020 Specialist pension provider Just Group posted a drop in its solvency ratio today after interest rates plunged around the world over the economic fallout of coronavirus. The insurer told investors its Solvency II coverage ratio has dropped three points to 138 per cent at the end of April 2020. European Solvency II rules stipulate how [...]
Sunday Sitdown: ‘Skittish’ banks need to up their game, says CEO of Ezbob April 25, 2021 Following a nightmare year that was hugely disrupted by the pandemic and three subsequent lockdowns, the City is slowly switching into recovery mode as the economy starts to re-open and many sectors are coming back to life. To discuss the way back up, City A.M. sits down with Tomer Guriel, chief executive of Marble Arch-based [...]
Greensill files for administration putting thousands of steel jobs at risk March 8, 2021 Greensill Capital has this afternoon filed for administration, potentially putting at risk thousands of jobs in the UK steel industry. Lawyers for the boutique bank, which is one of the main sources of funding for steel magnate Sanjeev Gupta’s business empire, appeared before a UK court today, the FT reported. According to court documents, Greensill [...]
Why now is the time to stand up for British farming December 22, 2020 The farming sector has been challenged. Huge surges in demand at the peak of the pandemic for products such as minced beef (to account for the rise in batch cooking) have been matched by extremely low demand for more premium cuts usually reserved by restaurants, impacting the value farmers received for their livestock. Read more: [...]
Open finance: exploring open banking’s natural evolution October 23, 2020 Laziness. Lack of time. The all-too-frequent challenge of speaking to a helpful person by phone. There are many reasons why consumers and businesses don’t shop around and switch products and suppliers. Failing to keep abreast of the best mortgage rates? Rolling onto the same insurance every year without looking for better deals? If so, open finance – a development coming [...]
‘Serious concerns’ raised over government’s export credit agency July 6, 2020 The government’s export credit agency could be “cutting corners” as it races to finance the post-coronavirus and post-Brexit trade drive, raising “serious concerns” about the UK’s future trading relations, according to a new report. A report released today by anti-corruption campaign group Spotlight on Corruption found that UK Export Finance (UKEF), the UK’s export credit [...]
Give our events industry the tools to save itself from Covid December 9, 2020 More than 1.5 million people are employed in the UK’s events industry and we all have one thing in common: we are problem solvers. That is what we do, day in, day out. We are logistics experts, known the world over for our technical and creative talents. We are ready to get back to work, [...]
The solution to the Covid economic crisis is more markets, not more government December 7, 2020 The Covid-19 crisis has caused an unprecedented contraction of the global economy. While it is remarkable how quickly and decisively governments and central banks reacted to the pandemic to bolster their economies, prevent the collapse of financial markets and seek to preserve jobs, our attention must now turn to how to deliver a sustainable economic [...]
Equality is a business imperative, so let’s close the ethnicity pay gap July 3, 2020 I am often asked how business leaders decide who is the best candidate for a team or an organisation. Of course, there’s no one reason or answer. It’s about understanding the relevance of skills you need and the context of the role you are hiring for. You might be looking to create energy and pace [...]
Why I’m calling for a £15bn National Renewal Fund to support growing businesses October 27, 2020 Some 90 years ago, a government committee set up to examine the health of the British economy identified a persistent shortfall in funding for small and medium-sized businesses. This shortfall was termed the Macmillan Gap — named not after the politician but after the Scottish lawyer, Hugh Macmillan, who chaired the committee. As the saying [...]