Financial services leaders team up to launch net zero alliance April 21, 2021 Leading financial services firms have today announced the launch of a new alliance to reach net zero emissions ahead of President Biden’s climate summit. The Glasgow Financial Alliance for Net Zero (GFANZ) will bring together existing and new net zero initiatives and will be made up of 160 of the world’s biggest banks, asset managers [...]
Bitter clash at Astrazeneca as 40 per cent of shareholders reject CEO pay package May 11, 2021 A share bonus hike for Astrazeneca’s chief executive was only narrowly approved in a vote where nearly 40 per cent of the pharma’s shareholders rejected the proposed pay package. The pharmaceutical giant did pass the proposal, however, which could take Pascal Soriot’s total pay, including a £1.3m salary, above the £15.4m he received last year. [...]
Economy shows green shoots of recovery as dividends fall at slowest rate in a year April 26, 2021 UK dividends fell at their slowest rate in the first quarter in an encouraging sign the economy is starting to recover from the worst of the pandemic. Payouts fell 26.7 per cent to £12.7bn in the first quarter year-on-year, according to Link Group’s latest Dividend Monitor. Since the nearly 50 per cent drop in payments [...]
Aviva to cull 1,800 jobs to save £300m per year June 6, 2019 Aviva is set to cut 1,800 jobs over the next three years in a bid to help save £300m per year. The bombshell announcement means the UK insurance giant stands to lose six per cent of its 30,000 workforce under new chief executive Maurice Tulloch. Read more: Aviva CFO to leave in latest leadership shake-up [...]
Some 1,200 HSBC staff to permanently work from home April 7, 2021 HSBC is moving more than 1,200 staff in the UK to permanent working from home contracts, marking yet another company making major changes to its working patterns post-pandemic. Around 70 per cent of the bank’s 1,800 call centre staff based across England, Wales and Scotland have volunteered to never return to the office, employment union [...]
Greening the economic recovery is vital for the UK’s long-term prosperity February 17, 2021 The decisions we make in the coming weeks and months on how the UK economy recovers from covid-19 will shape our economy for decades. It is crucial that we start to phase-out carbon intensive industries and lock-in clean, green innovation. The Covid-19 pandemic has brought into sharp focus what happens when humans disrupt natural systems [...]
China tightens grip on Hong Kong as it limits parliament to ‘patriots’ March 30, 2021 China has passed new laws slashing the number of directly-elected politicians to Hong Kong’s parliament, further tightening Beijing’s control over the financial hub. The changes will almost halve the number of representatives who are directly elected and increase the number of Beijing-approved officials. The overhaul is intended to ensure that only “patriots” can rule the [...]
City winners: This year’s most popular funds and shares, which include BP, Rolls Royce, Tesla and Argo Blockchain December 29, 2021 DIY fund buyers didn’t get the memo that value investing is back in fashion, instead largely plumping for growth strategies over the course of 2021. “Success breeds success they say, and retail investors clearly have a high conviction that these funds will continue to prosper,” Laith Khalaf at AJ Bell told City A.M. as he [...]
London remains one of the world’s leading green finance centres April 29, 2021 London has held on to one of the top spots for green finance quality in Z/Yen’s latest index, but Western Europe’s overall dominance is starting to slip. In its Global Green Finance Index (GGFI), the City of London think tank ranked 78 financial centres across the world for their public, private and nonprofit investment in [...]
Crypto crime landscape shifts to bigger threats targeting smaller numbers October 5, 2021 The use of cryptocurrencies for illicit activities from ransom money, money laundering and funding for terrorist activities continues unabated.