L&G agrees two pension risk transfer transactions with IHS Markit May 13, 2020 Legal & General has today announced it has agreed two pension risk transfer transactions with information provider IHS Markit, one in the UK and one in the US. The UK transaction was for £37.8m, covering around 150 members, while the US transaction was £78.4m, covering around 1,200 members. The financial services group also confirmed it [...]
Brewin Dolphin’s profit dips despite increased demand for advice May 13, 2020 Wealth manager Brewin Dolphin’s profit took a hit in the first half of the year, despite an increase in demand for financial advice during the market turbulence. In a market update for the six months to March, Brewin Dolphin reported that statutory profit before tax had dropped 5.1 per cent to £28.2m, down from £29.7m [...]
TP ICAP revenue surges after first quarter volatility May 13, 2020 Interdealer broker TP ICAP’s revenue rose by almost a fifth in the first quarter, as it benefited from the coronavirus-induced market turbulence. Revenue of £547m was 17 per cent higher than the £469m reported for the equivalent period last year. The broker said the growth reflected “higher client volumes due to the volatile market conditions” [...]
Hundreds of firms yet to receive money through furlough scheme May 12, 2020 Hundreds of UK firms who have furloughed staff during the coronavirus pandemic are yet to receive money through the government’s scheme. The job retention scheme has been a cornerstone of the Chancellor’s coronavirus support package. It sees the government pay up to 80 per cent of wages, of up to £2,500 a month, to workers [...]
Coronavirus: New cases in Germany rise for first time in four days May 12, 2020 Germany recorded the first rise in new coronavirus cases in four days after gradually easing lockdown restrictions. There were an additional 697 cases in the past day, up from 555 a day earlier, bringing the total to 172,576. The death toll rose 92 to 7,661. The Robert Koch Institute for disease control announced the country’s [...]
Angling Direct accelerates online sales growth and eyes reopening physical stores May 12, 2020 Angling Direct has reiterated its guidance after “encouraging” levels of trading across the firm’s online stores amid the coronavirus outbreak. Online sales in April were up 24 per cent year-on-year with a “further acceleration of these trends experienced in May 2020 to date.” Additionally, the retailer said investment in Angling Direct’s French, German and Dutch [...]
Standard Life Aberdeen reports ‘modest’ coronavirus hit with assets at £490bn May 12, 2020 Standard Life Aberdeen has said the coronavirus pandemic has had only a modest impact on business and estimated total assets of nearly £500bn at the end of April. Estimated assets under management and administration (AUMA) was £490bn, with estimated net outflows in the first four months of the year of £24bn. Excluding around £25bn linked [...]
Life after lockdown: What are the new UK social distancing rules? May 11, 2020 After seven weeks of social distancing, the UK government is beginning to ease its coronavirus lockdown measures. Boris Johnson announced a conditional plan in an address on Sunday night for a partial easing of the UK lockdown. The measures, which have now been outlined in a 60-page document, form the first phase of the government’s [...]
Coronavirus lockdowns: Which countries have relaxed social distancing measures? May 11, 2020 European countries are slowly lifting their coronavirus lockdown measures as hospital numbers and death tolls stabilise. The Prime Minister last night outlined a “roadmap” for easing lockdown. He announced a new coronavirus alert system with five levels that influence how quickly lockdown could be eased. We look at how other countries have started to ease [...]
UK companies could be holding up to £105bn in unsustainable debt, warns industry body May 11, 2020 UK companies could be holding up to £105bn in unsustainable debt, according to new analysis from financial services industry body, TheCityUK. In a letter to the Bank of England (BoE) governor Andrew Bailey, TheCityUK said the impact of the coronavirus outbreak on business is “serious and profound”. TheCityUK has set up a recapitalisation group to [...]
