Uber partners with insurtech startup to offer digital insurance May 30, 2019 Ride sharing giant Uber has struck a deal with a US insurtech startup to offer digital insurance for its drivers. Inshur uses information about average trips, locations and driver ratings in near real-time to calculate the price of the driver’s policy. Read more: Uber facing £1bn VAT tax bill after HMRC opens investigation The startup [...]
French bank Credit Agricole raises profit target to €5bn by 2022 June 6, 2019 French bank Credit Agricole has increased its profit target to €5bn (£4.34bn) by 2022 after reaching this year’s goal ahead of schedule. The bank reached its 2019 targets a year early and has unveiled higher profit targets for the next three years. Read more: European Central Bank fines Credit Agricole for reporting errors Its new [...]
FTSE edges higher as relief over deflating trade war tensions sinks in August 30, 2019 Britain’s FTSE100 stock index nudged higher this morning as a relief rally over China deflating trade war tensions entered a second day. The blue-chip index was given a further boost by a continued slide in the pound’s value, which helped to boost exporters. China’s foreign ministry said this morning that it was continuing to hold [...]
CVC abandons IPO or sale of Domestic and General after tepid investor response June 18, 2019 A sluggish response from investors has forced one of Britain’s biggest home appliance insurers to abandon plans for a public float as soon as this month which it hoped would value it at more than £1bn. Domestic and General has decided in the last few days to shelve the plans, Sky News reported. Read more: [...]
FTSE 100 falls one per cent after Donald Trump trade comments November 20, 2019 European stock markets have fallen today following President Donald Trump’s threat to raise tariffs on Chinese goods if no deal can be reached between the two sides, with the FTSE 100 leading the bunch downwards. The FTSE 100 was down 1.09 per cent by 12.45pm UK time. In Germany, the Dax index was 0.70 per [...]
N Brown shares drop after it reveals £20m to £30m PPI provision September 12, 2019 Shares in British retailer N Brown have fallen 5.5 per cent this morning after it said it would have to set aside £20m to £30m more to cover claims about mis-sold payment protection insurance (PPI). Read more: Barclays and Lloyds Bank reveal PPI balance sheet hit The plus-size clothes retailer, which has cricketer Freddie Flintoff [...]
Boris Johnson postpones corporation tax cut November 18, 2019 The Conservatives have shelved plans to cut corporation tax from 19 per cent to 17 per cent. Boris Johnson made the announcement at the CBI conference in London this morning. Read more: Sajid Javid will remain chancellor if Conservatives win the election He said the change had been made to free up funding for the [...]
To tackle the challenges of our age, UK and EU finance firms must work together November 18, 2019 The economy is a hot topic this election campaign, but one issue which is attracting little attention so far is the value and significance of financial and professional services. According to new data from the Office for National Statistics, the UK exported £82bn of financial services last year, up £4bn on 2017. This gives us [...]
UK energy boss conned out of £200,000 in ‘deep fake’ fraud October 6, 2019 A top energy executive has been conned out of £200,000 by cyber scammers who used artificial intelligence to mimic his boss’s voice. The UK boss of an unnamed energy firm was tricked into transferring the money following a phone call from that appeared to come from his boss at the German parent company, the Mail [...]
DEBATE: Was the collapse of Thomas Cook inevitable? September 24, 2019 Was the collapse of Thomas Cook inevitable? Julian Jessop, economics fellow at the Institute for Economic Affairs, says YES. It is sad to see the collapse of the world’s oldest travel firm, but badly run companies must be allowed to fail. There was some bad luck here, including unrest in Turkey, European heat waves, and [...]