RSA shares fall in wake of post storm profit warning November 5, 2013 Shares in insurance group RSA have fallen by nearly six per cent after warning of lower profits in the wake of the St Jude storm, as well as flooding in Canada. The group now expects return on equity for 2013 to be below 10 per cent and payouts to be "materially above assumption." Simon Lee, [...]
Insurers’ £25bn growth pledge December 3, 2013 SIX CITY insurers have today announced a major investment into UK infrastructure projects, committing £25bn over the next five years. The money, which does not include finance for existing schemes, signals a commitment to new large-scale projects, following the successful negotiation of changes to EU insurance regulation that had been holding back investment. Changes to [...]
North Pole winter floods into summer for this City veteran August 8, 2014 It’s silly season in the City as its workers jet off to hotter climes – Ibiza, Tuscany and the South of France are destinations The Capitalist has heard time and time again. But Winterflood Securities’ founder Brian Winterflood had different ideas this summer. He’s just back from the North Pole. “It was on my bucket [...]
Letters to the Editor – 12/11 – Greenbelt benefits, Best of Twitter November 11, 2013 Greenbelt benefits [Re: The Greenbelt sacred cow: It pens in the poor for no environmental gain, yesterday] Professor Anne Powers (LSE) estimates that there are sufficient brownfield sites across London to provide the necessary housing for the next 20 years. Surely we should be looking at how we design affordable housing, in areas that are [...]
Will they/Won’t they? US macro data may not be released for weeks as government reopens October 17, 2013 We've been more or less flying blind without US macroeconomic data during the shutdown – now market watchers are trying to work out when new data will be released. Analysts at Deutsche Bank have suggested that we're going to see all of those reports hit at once. Brett Ryan of Deutsche Bank said that "when [...]
New Libor claims hit Barclays October 17, 2013 BARCLAYS’ Libor crisis came back to haunt the bank yesterday as senior managers were accused of knowing that traders tried to manipulate the key inter-bank lending rate. In a Court of Appeal hearing lawyers claimed board-level managers knew of the manipulation, but still let borrowers take out products based on Libor. Guardian Care Homes (GCH) [...]
London Report: FTSE rises again on talk of £1bn bid for G4S arm October 21, 2013 BRITAIN’S top share index rose for the eighth straight session yesterday, led by G4S on talk of a bid for one of its businesses in a market supported by the prospects of US monetary policy remaining ultra-loose for longer. G4S rose 3.5 per cent, a top riser, after a report that British private equity group [...]
Swiss Re sees revenues rise August 8, 2013 SWISS Re, the world’s second largest insurance firm, posted positive second-quarter results yesterday – in spite of high payouts for the flooding that engulfed large parts of Europe and Canada earlier in 2013. The firm said that all components of its business had contributed positively as net revenue jumped to $786m (£505m). Although the number [...]
Exclusive: Hoddle: Independent academies can nurture kids better than clubs October 8, 2013 Former England boss tells Josh Richards his academy blueprint FORMER England manager Glenn Hoddle has told new Football Association chairman Greg Dyke that a radical overhaul of professional clubs’ academies can be the solution he is seeking to the shortage of homegrown talent breaking into the top flight. Hoddle is today expected to be added [...]
Costa Concordia recovery set to leave insurers with £700m bill August 6, 2013 THE INSURANCE industry is facing a $1.1bn (£715m) bill for the recovery of the Costa Concordia cruise ship, Munich Re said yesterday. The world’s biggest reinsurer said the entire $500m cost of the ship had already been covered but the rescue process continued to swallow funds. Munich Re said its final share of the bill for the ship, [...]