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 [...]
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 [...]
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 [...]
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 [...]
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 [...]
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 [...]
Watchdog goes green with new stewardship code October 24, 2019 Fund managers have been called upon to think green by a new code that calls for investment firms to focus on “sustainable benefits for the economy, the environment and society”. Climate change has appeared as a key governance concern in the Financial Reporting Council (FRC) framework for the first time, as the watchdog tries 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 [...]
City of London Corporation puts up posters in City pubs in bid to combat sexual harassment December 3, 2019 The City of London Corporation is set to be the latest square mile institution to campaign against sexual harassment in the financial industry. The Reframe the Night Campaign will feature 600 posters at various City venues that are adorned with phrases traditionally used to excuse sexual harassment. Read more: Lloyd’s of London to put up [...]