Melrose has won the battle for engineering giant GKN as shareholders vote in favour of takeover March 29, 2018 The long-running takeover battle for GKN has finally drawn to a close, with Melrose Industries snatching the engineering giant from the grip of its board. The “most bitter takeover battle in recent memory”, according to Interactive Investor’s Lee Wild, will now end with London-listed Melrose merging GKN’s aerospace and driveline divisions into its existing structure [...]
A sovereign wealth fund could diffuse the UK’s debt timebomb June 13, 2018 There’s a hint of sunshine peeping out from behind the grey clouds of austerity. After eight long years of belt-tightening, we’re living within our means at last. Our taxes cover our day-to-day spending on things like health, education, policing and defence, so we’re only having to borrow to invest in long-term infrastructure like roads and [...]
“Alexa, what’s an annuity?” Insurance company Aviva is using Amazon Echo January 4, 2017 "Alexa, what's an annuity?" Now your Amazon Echo can tell you the answer to burning questions about insurance and guide you through the unfamiliar jargon of the industry. The Insurance giant Aviva has developed a so-called skill (like an app for smartphones) for the voice activated speaker which proved a big hit for Amazon over Christmas. Read more: [...]
‘Not the City I recognise’: Helena Morrissey launches dinner to rival the condemned Presidents Club fundraiser January 25, 2018 City veteran Dame Helena Morrissey has launched a rival dinner to the widely condemned Presidents Club charity fundraiser, at which a number of female waitresses were found to have been sexually harassed in an investigation earlier this week. Morrissey, head of personal investing at Legal & General Investment Management, has already garnered support from names [...]
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 [...]
Aviva chief exec: Turnaround is complete, so let’s get on with post-Brexit business January 19, 2017 Aviva today announced a large organisational shake-up that will enable the insurance giant to capitalise on the significant opportunities present by the Brexit vote. The group's UK operations, previously separated into life, general and health insurance divisions will be brought together under the leadership of current Aviva life chief exec Andy Briggs. Read more: Aviva shares jump 4.5 [...]
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 [...]