Coronavirus: UK house prices growth ‘grinding to a halt’ April 2, 2020 UK house prices rose three per cent last month just before the coronavirus outbreak hit, according to Nationwide figures released today. But the bank warned housing market activity is “grinding to a halt” as the coronavirus lockdown stops buyers and sellers from viewing properties. Banks have also withdrawn mortgages or made it tougher to secure [...]
Lloyd’s of London says it can manage a $200bn event: Here are four scenarios insurers used to test themselves January 31, 2017 Like the rest of the world, Lloyd's of London was caught unawares by the attack on the World Trade Centre in September 2001. The world has been hit by natural catastrophes since the tragic 9/11 terror attacks, but what would happened in a doomsday scenario where a number of apocalyptic events all occurred at once? [...]
City Moves for 25 October – Who’s switching jobs at Refinitiv, Ratesetter and GCA Altium? October 25, 2019 Today’s City Moves includes Refinitiv, Ratesetter and GCA Altium Refinitiv Financial markets data platform Refinitiv yesterday announced the appointment of Alex Cesar as its new chief technology officer (CTO). Alex will lead the software engineering teams that build, operate and innovate Refinitiv’s strategic data platforms and the core capabilities and requirements that underpin them. Alex [...]
Hiscox chiefs miss out on bonuses for 2017 after year of hurricanes and natural disasters March 18, 2018 Senior executives at insurer Hiscox have missed out on bonuses this year after a gruelling 2017 hurricane season. The insurers’ top executives will not receive a bonus for the 2017 financial year after return on equity fell to 1.5 per cent, below the required threshold for a bonus payment. Chief executive Bronek Masojada received £2.3m [...]
Lloyds to pay £140m to settle Standard Life Aberdeen row July 22, 2019 Lloyds Bank is to pay Standard Life Aberdeen (SLA) around £140m in a settlement that could end their long-running dispute over an asset management contract. Read more: Standard Life Aberdeen wins dispute with Lloyds The Edinburgh-based investment company would keep control of £30bn of assets for three years as well as receiving the cash payment, [...]
Exclusive: Barclays installs Big Brother-style spyware on employees’ computers February 19, 2020 Barclays has been criticised by HR experts and privacy campaigners after the bank installed “Big Brother” employee monitoring software in its London headquarters. Introduced as a pilot last week, the technology monitors Barclays workers’ activity on their computers, and in some instances admonishes staff in daily updates to them if they are not deemed to [...]
RBS launches digital bank Bo in bid to rival fintechs November 27, 2019 Royal Bank of Scotland (RBS) has officially launched its digital bank as it looks to rival a group of fast-growing fintechs and hoover up more online customers. The state-backed lender has created Bó, its new digital, cloud-based bank featuring a bright yellow Visa card and a mobile app. Read more: LSE hires fintech to widen [...]
Business confidence declines in London but firms look to hire August 2, 2019 Business confidence for firms in London fell in June, according to the latest business barometer from Lloyds Bank, but job creation plans nonetheless saw a significant uplift. Read more: Confidence among UK business leaders falls after months of gains Companies were marginally less confident about their business prospects and also reported less optimism about the [...]
Ring time: Open outcry trading sessions to be extended by London Metal Exchange August 12, 2019 The London Metal Exchange is set to extend its final open outcry trading sessions, backing its historic method of buying and selling on the floor over a potential shift towards electronic platforms. Frenzied five-minute dealing windows are to be doubled to 10 minutes on the trading floor of the world’s oldest and largest market for [...]
Mitie’s clients hold back on spending until after Brexit and the General Election November 21, 2019 Outsourcing giant Mitie has warned that its clients are holding back on committing to new projects, amid ongoing Brexit uncertainty and the upcoming general election. The firm, which provides cleaning, security, facilities management, energy and healthcare services, said the uncertainty could affect revenue growth in the coming months. Read more: Mitie to continue managing Lloyds [...]