Shares in insurance firms rise despite court ruling on business interruption claims September 15, 2020 Shares in UK insurance firms remained resilient this afternoon, even as the High Court ruled some firms will have to pay out on the disputed business interruption policies. Insurers may have to pay out to hundreds of thousands of British firms who had business interruption claims turned down during the pandemic. The Court ruled on [...]
UK GDP soars in second quarter as Covid unlocking turbo-charges economy : CityAM August 12, 2021 The burst in consumer spending triggered by the gradual lifting of Covid prevention measures in April and May boosted the UK economy in the second quarter, according to fresh official data released today. Figures from the Office for National Statistics reveal the UK economy grew 4.8 per cent in the second quarter of this year, [...]
Record rise in redundancies as firms battle coronavirus crisis October 13, 2020 Redundancies soared to the highest level in more than a decade, rising by a record 114,000 between June and August, due to the impact of the coronavirus crisis. The latest figures from the Office for National Statistics showed that redundancies increased by 113,000 on the year, and a record 114,000 on the quarter, to 227,000. [...]
Former Aviva boss pay halved in 2018 as insurers gets tough on bonuses but could still net a further £4m March 26, 2019 Former Aviva chief executive Mark Wilson had his pay more than halved last year but could net a further £4.1m after quitting the insurance giant. Wilson, who was brought in to turnaround the business in 2013, stepped down in October last year after the company decided it needed new leadership to boost shareholder value. Read [...]
Asian consumers, boomerang businesses and M&A likely to shape 2021 January 6, 2021 It was some year. Anyone who took on the challenge of forecasting what would happen in 2020 more than likely saw it all swiftly swept aside – but, as they say, prediction is very difficult, especially when it’s about the future. Still, investing is a forward-looking profession and so we inevitably find ourselves thinking about [...]
Ollie Phillips: Improving France will dethrone Six Nations favourites England – and empty stadiums will help Les Bleus February 6, 2021 It’s easy to see why England have been installed as the favourites for the Six Nations, which starts this weekend. But they aren’t my tip. Yes, England are the holders, having prevailed in an interrupted 2020 championship that finally concluded in October. They then won the Autumn Nations Cup, beating France in the process – [...]
Unemployment hikes to 5.1 per cent in biggest leap in a decade February 23, 2021 The UK unemployment rate marked its highest increase in 2020 in more than a decade, according to the latest official statistics, as the labour market continues to feel the weight of months of closures during the pandemic. The annual increase in the unemployment rate last year was the largest jump since the wake of the [...]
Insurer Hastings to pay dividend despite Bank of England warning April 15, 2020 Hastings said today it would go ahead with its planned dividend despite a warning from the Bank of England to the insurance industry to think carefully before paying out cash to shareholders. Car insurer Hastings said it did not offer any lines affected by coronavirus such as travel or business interruption insurance. Hastings also said [...]
City Moves for 21 January – who’s switching jobs at Superunion, Opengamma and Aviva? January 21, 2019 Who’s changing jobs today? Superunion WPP global brand agency Superunion announced the appointment of Holly Maguire as UK managing director to drive the growth of its UK business. Holly will be responsible for managing key client relationships with the likes of Coca-Cola, IAG, Nestle, Tesco and Vodafone, and building the success of Superunion since its launch [...]
The City View: Beyoncé’s former manager on why classic hits are a hot asset class August 18, 2020 Subscribe to The City View Podcast: Apple / Google / Spotify / RSS In this episode Christian talks to music industry veteran Merck Mercuriadis, a former manager of acts including Elton John and Beyoncé whose FTSE-listed investment firm has just hit a £1bn market cap after snapping up the rights to hits including Livin’ on a Prayer, Back to Black, Uptown Funk, Single Ladies and Don’t Stop Believing. [...]