Make Meta Trump Again: Former President invited back on to Facebook – but firm promises ‘guardrails’ January 25, 2023 Former US President Donald Trump has had his suspension from Facebook lifted – but he’ll be subject to new ‘guardrails’ which could include stopping his posts being distributed on the platform. Trump was suspended for supporting protestors at the US Capitol on January 6 who stormed the building in a riot which killed five people. [...]
In defence of capitalism? Why the end of CDs signals the triumph of (green) free markets January 25, 2023 A book lands on the desk at City A.M. towers: In Defence of Capitalism. A brave title in today’s climate, regrettably, and at points the arguments are even braver still – not least when the German author Dr. Rainer Zitelmann, an economist, uses his music collection as an example of how markets might well save [...]
London motorists hit with sharpest uptick in car insurance costs as UK premiums surge January 25, 2023 Motorists are now paying £100 more for car insurance than last year, according to new research which shows premiums have increased at their sharpest rate in six years. Car insurance premiums have increased 19 per cent over the past 12 months, meaning motorists now pay average sums of £629 to insure their vehicles, Confused.com’s Car [...]
December’s deep freeze: Cost of living crisis leaves Aviva with a £50m bill for burst pipes and water tanks January 25, 2023 Aviva said last December’s freezing weather meant it had to pay out £50m to policyholders claiming for damage caused by burst pipes and water tanks. An Aviva spokesperson told City A.M. said soaring energy costs had led to more frozen pipes because households were more reluctance to turn on the heating, leading to more extremes [...]
Polymetal shares plummet 30 per cent as miner weighs up London exit to ‘Russian-friendly’ Kazakhstan January 25, 2023 Shares in Polymetal International have nosedived 29.2 per cent on the London Stock Exchange this afternoon.
Britishvolt bidding war hots up as Australian start-up throws hat in the ring January 25, 2023 Britishvolt could be the subject of a bidding war, after an Australian battery start-up threw its hat in the ring with a takeover offer.
Quilter’s assets under management falls by more than £10bn but signs of hope remain January 25, 2023 Quilter’s assets under management and administration (AuMA) fell by more than £10bn in 2022 as the asset management industry continues to grapple with instability in the global economy. In 2022 the wealth manager saw AuMA fall to £99.6bn from £111.8bn the year before. Average AuMA for the fourth quarter of 2022 was £98.8bn, below the [...]
Former Janus Henderson analyst charged in £1.5m insider trading case January 25, 2023 The UK’s financial watchdog has launched criminal proceedings against five individuals over claims they used insider information from an analyst at a top asset manager to illegally generate profits of £1.5m. The Financial Conduct Authority (FCA) claims Redinel Korfuzi, a former analyst at asset manager Janus Henderson, and his associates allegedly used confidential information from [...]
How intelligent automation has become a mainstay of financial services, and what it means for private banking January 25, 2023 The increasing levels of automation in private banking reflects a need to move into the digital age, but it also brings with it challenges. City A.M. sat down with specialist Mark Bruce, chief executive of of Britannia Financial Group to find out how intelligent automation and artificial intelligence is impacting the sector. Mark, why don’t [...]
What windfall? North Sea levy generated £600m less than expected in December January 25, 2023 The new windfall tax on North Sea oil and gas operators failed to generate the expected takings last month, confirmed the OBR.