Axa launches £840m share buyback scheme as higher earnings offset £250m hit from Ukraine August 3, 2022 French insurance giant Axa today said an uptick in earnings, driven by higher incomes from its investment portfolio, offset the €300m (£251m) hit to its business arising from the war in Ukraine. In reflecting its “robust performance,” Europe’s second biggest insurer vowed to buy back €1bn worth of its own shares from shareholders, after [...]
G7 weighs up proposals to block transport of Russian oil supplies August 2, 2022 The G7 is considering plans to block the transporting of Russian oil unless it heeds a price cap, amid a supply crunch in Europe.
Claims globalisation has ‘had its heyday’ are premature, Lloyd’s chief executive says August 2, 2022 Claims the dual shocks of Covid and the war in Ukraine have halted the “all conquering forces of globalisation” are “premature,” Lloyd’s of London chief executive John Neal told City A.M. In an op-ed in this newspaper, the insurance chief said that while we will “rightly see a degree of retreat and retrenchment” in [...]
UK launches register of overseas property owners in clampdown on ‘corrupt elites’ August 1, 2022 Individuals that own UK properties via chains of “secretive” shell companies will from today be forced to reveal their true identities, after the UK government launched a new register of UK property owners today. The first-of-its-kind register will require those seeking to buy or own UK property via offshore entities to list the identities of [...]
‘A day of relief for the world’ as first grain ship leaves Ukraine port after Russia deal signed August 1, 2022 A ship carrying grain has left the Ukrainian port of Odessa under a new deal with Russia, in what officials have called “a day of relief for the world”. The vessel left Ukraine’s Black Sea port en route to Lebanon, in wake of a deal facilitated by Turkey to allow safe passage for ships. This [...]
Ringfencing risks driving up energy bills, warns Cornwall Insight July 30, 2022 The cost of ringfencing consumer credit balances will risk adding more costs to bills "at a time when consumers can ill afford them" says Cornwall Insight.
French asset manager Amundi takes hit from turbulent European markets July 29, 2022 French asset manager Amundi today said the value of the assets it manages has dropped by 4.75 per cent compared to three months ago, due to “unfavourable” market conditions. The Paris headquartered firm said net incomes for the first half of the year were 16 per cent lower than a year ago, as it said [...]
Exclusive: OEUK defends windfall tax’s investment relief and calls for domestic energy ramp-up July 28, 2022 The UK's leading industry body for offshore energy has defended the continued inclusion of investment relief within the windfall tax.
Biden administration: 75,000 Russian troops have been killed or injured in Ukraine war so far July 28, 2022 Up to half the troops Russia has committed to the war in Ukraine have been killed or injured, according to classified information from the White House. Joe Biden’s administration officials told House lawmakers that 75,000 Russians have been killed or wounded during the ongoing war in Ukraine. Neither Russia or Ukraine have released official figures [...]
More than 100,000 Ukrainian refugees have settled in Britain since start of Kremlin’s war July 28, 2022 More than 100,000 Ukrainians fleeing the Kremlin’s war have made their homes in the UK. 25,300 who have had visas approved are still awaiting confirmation, through the Family and Sponsorship schemes set up earlier this year. More than 70,000 refugees arrived in Britain through the UK government’s sponsorship scheme, which allows applicants to settle if [...]