FTSE finishes in the red despite late rally March 2, 2011 The FTSE slumped below the 5,900 mark this morning on continued Middle East unrest fears, but recovered ground after a boost to Wall St. The FTSE 100 still closed the day below 6,000, though, 0.35 per cent down at 5,914.89. It has lost ground in eight of the last nine sessions. Michael Hewson said the [...]
City backlash against ECJ insurance rule March 1, 2011 MOTOR insurers and annuity providers attacked a European Court of Justice (ECJ) ruling that banned insurers from using gender to calculate policy prices yesterday. The ruling will mean women no longer pay lower car insurance premiums than men despite male drivers under 21 being twice as likely as young women to have a crash. Annuity [...]
HOW THE INSURANCE RULING COULD AFFECT YOU March 1, 2011 Q.WHAT IS THE RULING? A.The European Court of Justice (ECJ) has ruled that insurance companies cannot charge different premiums to men and women based on their gender. It also bans use of actuarial factors to calculate men’s and women’s pension contributions. Q.WHY HAS IT HAPPENED? A.The ruling amends the Gender Directive, which came into effect [...]
Moneysupermarket.com profit triples March 1, 2011 Price comparison website Moneysupermarket.com said its full-year pre-tax profit jumped more than three times due to growth in its insurance, money and home services business. The company, which offers services such as travel, insurance and money and uses actor and comedian Omid Djalili in its advertising, said trading in 2011 was in line with management [...]
What the other papers say this morning February 28, 2011 FINANCIAL TIMES ITALIAN BANKS GO FOR GOLD IN MOVE TO TRANSFORM CORE CAPITAL RATIOS Italian banks think they may have struck gold as they seek to add lustre to balance sheets ahead of the summer stress tests. The lenders, which are shareholders in the central bank, are lobbying for their stakes to be marked to [...]
What the other papers say this morning February 20, 2011 FINANCIAL TIMES BUSINESS JET TRAVEL REBOUNDS AS RICH SPLASH OUT FOR PRIVACY Private jet travel, shunned in the recession as a sign of ostentation, is recovering in a further sign that the world’s richest people are spending more freely again. The number of business flights – which includes celebrity, state and business hire – grew [...]
BANKERS SWAP CITY FOR DIY AND CAMPFIRES February 15, 2011 NEVER let it be said that the City is averse to getting a little dirt under its fingernails. On 12-13 March members of the banking community will be doing just that at Havens Hospices annual “I’m a banker…get me outta here!” event to raise money for the organisation’s hospices in Essex. Over the weekend, teams [...]
CHALLENGE FOR CITY FIRMS TO GO OFF ROAD February 14, 2011 FOR frustrated finance workers who fancy themselves as a bit of a Bear Grylls-type come the weekend, CARE International’s Finance Adventure Challenge might be just the opportunity to show your colleagues what you’re made of. City A.M. is supporting the Challenge this summer, giving City professionals a chance to ditch the suits and prove their [...]
Credibility low as UK dents IAG profit February 14, 2011 INSURANCE Australia Group (IAG), the nation’s top home and car insurer, warned its first-half net profit will more than halve and cut its full-year insurance margin outlook as its UK operations struggled and weather claims mounted. The warning caused IAG shares to fall as much as 5.3 per cent to A$3.58 in early trading, the [...]
PERSONAL FINANCE NEWS February 9, 2011 42 PER CENT PREFER DOG TO PARTNER It is a sad day for British romance when 42 per cent of British people prefer their dog or cat to their partner. A survey conducted by M&S Pet Insurance shows that when it comes down to the “me or the dog” question, 42 per cent would always [...]