AA share price jumps on insurance guru board pick February 28, 2018 AA shares roared this morning after breakdown giant appointed an insurance heavyweight to its board. Cathryn Riley, currently the chair of AA’s insurance broker, is to become a non-executive director with immediate effect. Riley is Aviva’s former chief operations officer and a non-exec at the likes of Equitable Life and insurance underwriter Chubb. Previously, she [...]
Big Six energy firms’ market share hits a record low as customers hunt for better deals February 28, 2018 The Big Six energy suppliers have been forced to loosen their grip on the sector as their combined market share fell to a record low, according to fresh data from the regulator. Ofgem said one in five energy consumers are now registered with a small or medium supplier, sending the market share of the Big [...]
Neil Woodford backs Provident Financial: Star fund manager throws his weight behind lender. And he had to February 28, 2018 A brace of better-than-expected announcements provided Provident Financial’s shareholders with a much-needed lift boost yesterday. Markets were craving news on two separate investigations by the Financial Conduct Authority. Fines and redress totalling £190m was £100m less than many had feared. Meanwhile, a £300m rights issue was well below the £500m reported over the weekend. A [...]
British Paralympic Association launches new UK classification code February 28, 2018 British Paralympic chiefs have responded to concerns about possible manipulation of the system by launching a new classification code for UK athletes. After consulting with over 390 stakeholders in UK sports, the British Paralympic Association has issued a new code which it says will provide clearer guidelines over classification. Athletes will also be better equipped [...]
Pious attacks on the finance sector are socially destructive February 28, 2018 Attacks on the financial sector are commonplace. The Pope, the Archbishop of Canterbury, and Jeremy Corbyn have all been critical of modern finance while demanding a financial sector that serves the “real economy”. Of course, religion and finance have always been uncomfortable bedfellows, and the extreme left now has a clear preference for a centrally [...]
British businesses must seize this chance to tap into Asian potential February 28, 2018 The Brexit vote has amplified the incentives for UK companies to look further afield than established EU economies – and not a moment to soon. The level of trade with Asia is currently lagging. The EU remains by far the UK’s largest trading partner – China, Asia’s largest market, is only fifth. The “golden era” [...]
Venture capital firm Kindred Capital scoops £80m in one of Europe’s largest ever seed fundraises February 28, 2018 A new venture capital firm, populated by old hands, has today closed one of Europe’s largest ever seed funds with £80m. Kindred Capital’s debut fund is also pioneering an “Equitable Venture” model new to Europe, in which every entrepreneur backed also gets a stake in the fund. This means that, rather than Kindred taking such [...]
A groundbreaking trial will inject zero-carbon hydrogen into the UK’s natural gas network February 28, 2018 A first-of-its-kind energy trial launched in the UK yesterday will explore the potential for reducing carbon dioxide (CO2) emissions by as much as 6m tonnes a year by using more hydrogen to heat homes. The HyDeploy project, which aims to blend up to 20 per cent hydrogen into the normal gas supply, is being led [...]
The London Stock Exchange has been named British company of the year by a prominent UK-Israel trade group February 27, 2018 A prominent UK-Israel business group has awarded the London Stock Exchange Group (LSE) its “British company of the year” award. UK Israel Business, which supports bilateral trade between the two countries, recognised the LSE at a central London dinner last night attended by more than 400 business people. The chief executive of UK Israel Business, [...]
Battle of the Sixes: Thomas Bjorn and Catriona Matthew to form first ever mixed match-play team at GolfSixes event February 27, 2018 Ryder Cup skipper Thomas Bjorn and Solheim Cup counterpart Catriona Matthew have been named as the first mixed team ever to be entered in a professional match play tournament. Bjorn and Matthew are set to comprise one of four wild card teams competing in the second edition of the GolfSixes event at Centurion Club, St [...]