Swiss Re suspends plans for £3bn float of UK insurer Reassure July 11, 2019 Swiss Re has put off its plans for a £3bn listing of its British life insurance arm Reassure in the wake of weak investor demand. The reinsurance giant blamed “heightened caution and weak underlying demand” from institutional investors for the postponement of its initial public offering (IPO). Trading in the shares, which were set to [...]
Uber rival Bolt bolsters green credentials with environmental investment fund November 7, 2019 Ride-hailing app Bolt is set to launch a €10m environmental impact fund in a bid to boost its green credentials. Bolt, which recently committed to making all journeys taken via its app will be made carbon neutral through offsetting, said the fund would invest in initiatives that deliver “social and environmental benefits”. Read more: Uber [...]
Holiday firm On The Beach has taken a £25m hit from the collapse of Thomas Cook November 27, 2019 Package holiday company On The Beach has taken a £25.6m hit from the collapse of Thomas Cook, as the cost of getting stranded holidaymakers home weighed on the firm. The company maintained that the failure of one of its biggest rivals would ultimately help it in the long run, despite profits falling more than a [...]
From energy to insurance: How Open Banking could fix the loyalty penalty headache July 29, 2019 You don’t get to be Prime Minister without having a few political gifts. One of Theresa May’s was her ability to spot the issues that people cared about – even if she found it harder to come up with effective ways of improving them. That was why her maiden speech outside Downing Street was so [...]
One day to go until the PPI deadline: How to make a PPI claim August 28, 2019 Consumers are rushing to make last-minute PPI claims as tomorrow’s deadline looms. Here’s how to get your claim submitted before the cut-off time of 11.59pm on 29 August. What is PPI? PPI – or Payment Protection Insurance – was intended to cover loan repayments if the person who took out the loan became unable to [...]
Nationwide reveals PPI hit of up to £50m as it becomes latest victim of claims rush September 13, 2019 Nationwide has become the latest company to reveal a hefty charge for mis-sold payment protection insurance (PPI) amid a surge in last-minute claims. Read more: N Brown shares drop after it reveals £20m to £30m PPI provision The building society today said it has set aside a provision of between £20m and £50m, in addition [...]
Diversity can prepare City firms for uncertain times ahead October 1, 2019 City bosses need to keep the issue of diversity and inclusion high on their agenda as the UK heads into uncertain times and use it as a tool to both leverage opportunity and improve resilience, according to a panel of experts. In the first of a series of events hosted by City A.M., executives from three of the City’s largest [...]
City Moves for 9 September – Who’s switching jobs at SRIL, Morningstar and Capra Global Partners? September 9, 2019 Today’s City Moves includes SRIL, Morningstar and Capra Global Partners. SRIL Warren Downey has joined SRIL, the specialist insurance intermediary group that owns Miles Smith and the Underwriting Exchange, as chief executive. Warren joins from Jardine Lloyd Thompson where he spent the past 28 years, most recently as the chief executive of its global private [...]
FTSE 100 staggers as Lloyds and Shell profits tumble October 31, 2019 The FTSE 100 dropped sharply this morning as Lloyds and Shell weighed down London’s blue-chip index, which headed for its biggest fall since 2 October. The index fell roughly one per cent to 7,254 points, with the DAX and the CAC both down 0.7 per cent. Shell’s share price fell nearly 3.8 per cent to [...]
17,000 more Thomas Cook passengers flown back to UK September 26, 2019 Around 17,000 people were flown home on specially chartered planes yesterday three days after they were left stranded by the failure of Thomas Cook. The Civil Aviation Authority said it managed to bring back 95 per cent of all customers whose Thomas Cook flights were scheduled on the day. It flew 71 different flights. Read [...]