US stocks climb to record high on positive economic growth July 29, 2021 Wall Street climbed to record highs on Thursday as investors piled into stocks after new figures revealed the US economy is recovering quickly from the Covid crisis. The S&P 500 hit record levels in opening trading, but scaled back to rise 0.53 per cent to 4,424 during the morning session. Likewise, the Dow Jones and [...]
Theatres set the stage for state-backed insurance scheme June 13, 2021 Theatre grandees are said to be on the brink of striking a deal with the government for a state-backed insurance scheme enabling performances to go ahead. Top West End figures have an agreement in principle from culture secretary Oliver Dowden for a taxpayer-backed indemnity programme, the Sunday Telegraph reported. The plans have now been passed [...]
Exclusive: Government says return to the office is up to ‘personal discretion’ when restrictions ease June 11, 2021 A government minister has told City A.M. it will be up to “personal discretion” whether businesses return to the office after 21 June, as it remains unclear if the ‘work from home’ message will be scrapped as originally planned. Small business minister Paul Scully said that “personal discretion is the key thing” when it comes [...]
Aviva’s treasure trove: Insurance giant reveals quirkiest claims in its 325-year history October 11, 2021 A husband accidentally cooking his wife’s jewellery, a publican who hurt his leg while ejecting a drunken customer and an elephant squeezed into a van are among the most unusual claims that Aviva has ever dealt with. The insurance giant has trawled through its archives to unearth a “treasure trove” of claims dating back centuries, [...]
Lloyd’s lures Aviva’s MD for new chief of markets role January 22, 2021 Lloyd’s said this morning it has created a new chief of markets role which will oversee performance and distribution at the insurance giant. Patrick Tiernan has been hired for the position once he has seen out his current stint as managing director at Aviva, where he was previously chief financial officer. Tiernan has 24 years [...]
Extinction Rebellion co-founder arrested after attacks on Canary Wharf banks May 11, 2021 Extinction Rebellion co-founder Gail Bradbrook was arrested at her home this morning for conspiracy to cause criminal damage and fraud after her group attacked banks in Canary Wharf. Activists from Extinction Rebellion smashed the window frontage of HSBC and Barclays last month. They have also targeted Lloyd’s of London, where they dumped fake coal outside [...]
Fintech startup Wagestream picks up £15m from Balderton and Northzone May 20, 2019 London fintech startup Wagestream has today closed a £15m series A funding round, co-led by venture capital investors Balderton Capital and Northzone. The round was raised in addition to a credit facility of up to £25m Shawbrook Bank. At £40m, Wagestream chief executive Peter Briffett said the total amount raised marks the largest single social impact [...]
Santander UK profit soars two-thirds April 28, 2021 Santander UK hailed a “strong” set of results this morning as profit before tax rose nearly two-thirds in the first quarter. The bank said that pre-tax profit was up 61 per cent, jumping from £114m to £184m over the three month period. It added that its return on tangible equity (RoTE), a key metric, was [...]
Lloyd’s pledges to end investment in coal in first climate change policy push December 17, 2020 Lloyd’s of London will end investment in thermal coal-fired power plants, thermal coal mines, oil sands and new Arctic energy exploration activities as part of the market’s first ESG strategy. Lloyd’s typically has a more hands-off approach when it comes to climate change strategy. The market acts as regulator for around 100 syndicate members, and [...]
Let it all hang out: Goldman Sachs scraps office dress code March 5, 2019 Goldman Sachs said today that it is relaxing its employee dress code to reflect the “more casual environment” of the modern workplace. In a memo from new chief executive David Solomon, who also DJs under the name D-Sol, the bank announced its new “firm wide flexible dress code” turning its back on the traditional banker [...]