BP, Unilever, and HSBC have failed to properly exit Russia after Ukraine war, new report warns January 2, 2023 Three FTSE 100 companies – HSBC Holdings, Unilever, and BP – have been named as members of a “dirty dozen” of high-profile multinationals still heavily involved in Russia. The three UK headquartered companies have failed to properly exit Russia in the wake of Putin’s invasion, according to a new report by the Moral Rating Agency [...]
Scottish Widows: Unmarried couples missing out on life insurance payouts December 30, 2022 Many unmarried couples with life insurance could be at risk of not receiving a payout if one of the partners dies, a survey suggests. Just over half (52 per cent) of unmarried people know if their partner has a life insurance policy, while 43 per cent said their other half has no plans to ensure [...]
ExxonMobil sues EU over plans for bloc-wide windfall tax December 28, 2022 ExxonMobil has filed a lawsuit against the EU in a bid to overturn the trading bloc’s plans to impose a windfall tax on energy companies. The US oil major is seeking to challenge the EU’s authority to impose a 33 per cent levy on energy companies’ profits during the fiscal year 2022. Two of [...]
Wind farm developer threatens to sue UK government over plans for ‘windfall tax’ December 28, 2022 A Cheshire wind farm developer has threatened to sue the UK government over its plans to impose a ‘windfall tax’ on renewables companies. Community Windpower – which owns 1.5 GW of UK wind generation capacity – has said it will take legal action to block the UK’s Electricity Generator Levy. The temporary tax imposes a [...]
Labour calls for new sanctions on Iran over ‘repression’ of Amini protests December 28, 2022 Britain’s Labour Party has called for new sanctions to be imposed on those engaged in suppressing protests in Iran. The UK’s shadow foreign secretary, David Lammy, called for new “sanctions against individuals and organisations involved in the suppression” of the protests that have swept Iran following the death of Mahsa Amini in September. Amini, a [...]
Who’s winning the City’s talent war? The firms that paid the most in 2022 December 24, 2022 Where to find the best paid job? As strikes over pay have brought the country to a halt, it is notable that workers in one sector in particular have seen their pay packets bulge in 2022. Aside from criminal barristers, who carried out a month’s long strike this summer, those working in private sector legal [...]
Square Foot Mile: Corporate office space deals surged by 25 per cent in 2022 December 23, 2022 Big corporate deals for London HQs has caused office leasing volumes to surge by almost 25 per cent. The post-pandemic return to the office is in full swing, with central London take-up rising by 24 per cent this year. Of the increase, demand for high-quality space in the capital has skyrocketed with 60 per cent [...]
Insurance trade body seizes control of subsidiary by flooding City association’s board December 22, 2022 The world’s largest insurance trade body has made a push to take control of one of its subsidiaries, following an ongoing spat between the two groups. The takeover bid saw the head of the Personal Finance Society (PFS) hit out at its parent organisation, the Chartered Insurance Institute (CII) over claims it had acted “unilaterally” [...]
UK’s audit watchdog calls on top accounting firms to boost measures against exam cheating December 21, 2022 The UK’s accounting watchdog has called on Britain’s seven largest auditors to improve the measures they have in place to prevent cheating on exams, following a series of international cheating scandals involving the world’s biggest audit firms. In a letter seen by City A.M., the UK’s Financial Reporting Council (FRC) called on the country’s top [...]
Car premiums increase 17.4 per cent after FCA price walking ban December 20, 2022 The average car premium has soared 17.4 per cent in the past year, according to recent research. Data published today by market researcher Consumer Intelligence shows that average premiums now cost £877, surpassing by 6.7 per cent current inflation rates. According to senior insight analyst Georgia Day, the unsurprising surge has been driven by the [...]