Challenger bank Revolut and Thomas Cook have just launched a pay-per-day travel insurance service activated by your phone’s location services January 17, 2018 Another day, another insurtech idea. This time, challenger bank Revolut has launched a pay-per-day travel insurance plan which relies on a mobile phone’s geolocational services. The scheme, which Revolut claims to be the first of its kind, can be turned on and off from a user’s phone. When in use, it will use the phone’s [...]
Sexism in the City: Jayne-Anne Gadhia tells MPs of “pervading sexism” in the Square Mile October 24, 2017 A former environment of “pervading sexism” in the City created an “alpha male” environment in which harassment was common, according to Virgin Money chief executive Jayne-Anne Gadhia. Speaking today to MPs on the Treasury Select Committee, Gadhia said she had come across multiple incidents during her career in the Square Mile when sexism had reared [...]
Aviva warns that current saving levels are not sufficient November 15, 2016 Britons need to be saving a whopping six times more than the minimum levels introduced by the government, according to the UK’s largest general insurer. Aviva said that the British public should be setting aside 12.5 per cent of their salary to save for old age. This compares with the current minimum requirement of two per cent under [...]
Markets roundup: Pound sterling hits its highest since the Brexit vote as FTSE 100 smashes records January 12, 2018 The pound partied hard this afternoon following reports of good news for Brexit negotiators – as the FTSE 100 ended the week by breaking another record Sterling began the evening more than one per cent higher against the dollar, while it mustered a 0.2 per cent rise against the euro as reports the Spanish and [...]
National Assembly for Wales tops Stonewall list of 100 LGBT-inclusive employers with Lloyds Banking Group and Citi on the list January 31, 2018 A number of City firms have made the cut in equality charity Stonewall’s latest ranking of the top 100 LGBT-inclusive employers out today. Citi, Pinsent Masons, Clifford Chance, Lloyds Banking Group and Baker McKenzie were all in the top 10, with legal firms again dominating the overall list. Read more: Lloyds Banking Group named most [...]
Last Week in the City: Trump signs order for tariffs March 9, 2018 This week US President Donald Trump signed off on new tariffs on steel and aluminium imports, Trinity Mirror revealed plans to rebrand, and the European Central Bank took a further step towards ending stimulus measures. The FTSE 100 rose 1.9 per cent over the week by mid-session on Friday. Economics China will pursue annual growth [...]
Downing Street calls City chiefs in for latest Brexit meeting January 10, 2018 Securing a Brexit transitional deal will be high up the agenda for the chief executives of some of the City’s biggest firms at a high-level roundtable tomorrow afternoon with Theresa May. Around a dozen senior figures from firms including Goldman Sachs, Barclays and HSBC are expected to meet the Prime Minister, along with chancellor Philip [...]
Blackrock latest massive investor to back London Stock Exchange chairman ahead of shareholder vote December 13, 2017 Blackrock has become the latest giant investor to back the London Stock Exchange (LSE) chairman ahead of a shareholder vote on his future next week. Shareholders will vote on Tuesday on a resolution brought by activist investor Sir Chris Hohn which would remove chairman Donald Brydon. Hohn accuses Brydon of arbitrarily removing former chief executive [...]
Investment in UK insurtech startups is rocketing, easing Brexit fears September 4, 2017 The amount of cash flowing into innovative UK startups hoping to disrupt the insurance sector is rocketing, new figures reveal, with London attracting more than any other location in Europe. Investment in insurance technology (insurtech) has grown an astonishing near 3,000 per cent in 2017, hitting £218m according to fresh insight from Accenture and CB [...]
GKN backs Airbus warning against Melrose takeover saying short-term business model is “inappropriate” for investors March 15, 2018 GKN has responded to Airbus’ concern over an £8.1bn approach from Melrose, reiterating its “firmly held belief” that Melrose is not an appropriate owner for the firm. Airbus, one of GKN’s most significant customers, had become the latest party to express concern over Melrose’s proposed £8.1bn hostile takeover of the engineering company, saying it would [...]