Financial Conduct Authority to publish scorecards for general insurance products March 1, 2016 The Financial Conduct Authority (FCA) is to start publishing “scorecards” rating a small number of general insurance products. The watchdog said it will collect data from companies and present it in “an easily accessible format” on its website. “We believe that publishing a range of information will help to boost competition between firms, encouraging them [...]
Morrisons may not be the most obvious partner for Amazon, but there is method behind the marriage – and it could mean trouble for Asda, Tesco and Ocado March 1, 2016 Only one pound out of every £10 that Britons spend on groceries drops into Morrisons’ tills. Not a bad ratio, you might think, but like its bigger rivals (over £6 in every £10 is spent in Tesco, Sainsbury’s or Asda), Morrisons has been struggling with a declining market share. The Bradford-headquartered supermarket is not the [...]
City Moves for 1 March 2016 | Who’s switching jobs March 1, 2016 Marketform Specialist Lloyd’s underwriter Marketform has announced that Darren Lednor, formerly the active underwriter of Ariel Syndicate 1910 and 6117, has joined as chief underwriting officer. Darren has been working in the insurance industry for 20 years across both the London and Bermuda markets and his experience encompasses underwriting, broking, risk and actuarial.Darren began his [...]
Amazon delivers blow to Ocado with announcement of Morrisons deal February 29, 2016 Ocado shareholders fled to the checkout yesterday after its partner Morrisons revealed it had inked a major deal with Amazon, signing a ground-breaking agreement that will pave the way for the US giant to ramp up its presence in the UK grocery market. The tie-up, which is set to go live in the coming months, will see [...]
Valeant Pharmaceuticals share price slumps by over 18 per cent as company reveals it’s under investigation by the SEC February 29, 2016 Shares in pharma firm Valeant have dropped by over 18 per cent in after hours trading after a Securities and Exchange Commission (SEC) investigation into the company was revealed. The SEC probe is separate from an existing investigation into a company purchased by Valeant last year, Salix Pharmaceuticals, according to a Bloomberg report. “Valeant confirms [...]
Paddy Power encouraged gambling addict to keep placing bets and failed to deal with money laundering concerns appropriately – Gambling Commission February 29, 2016 Bookmaker Paddy Power has admitted that it encouraged a customer known to have a gambling problem to continue gambling, and did not take appropriate steps to deal with potential money laundering issues. The Gambling Commission released a statement today detailing Paddy Power's failure to help keep crime out of gambling and to "protect vulnerable people from [...]
Yahoo share price rises three per cent as internet group files 2015 results February 29, 2016 Shares in online firm Yahoo have risen by over three per cent, after the company revealed more details about plans to cut around 15 per cent of its workforce. At the time, chief executive Marissa Mayer said the company was embarking on "a strategic plan that we strongly believe will enable us to accelerate Yahoo's [...]
Andy Murray invests in five more British start-ups through Seedrs equity crowdfunding platform – Oppo, CommuterClub, Landbay, We Are Colony and Readbug February 29, 2016 Tennis star Andy Murray has announced his first 2016 investments into crowdfunding equity platform Seedrs. Britain’s top seed will back a range of British start-ups, including the Guardian’s 2015 Start-up of the Year Oppo Ice Cream, annual train subscription service CommuterClub and peer-to-peer lender Landbay, which recently announced a strategic partnership with Zoopla. His final two [...]
EU referendum: While David Cameron deems Brexit a leap in the dark, is a vote to Remain risk-free? February 29, 2016 David Cameron’s position on Brexit can be boiled down to five words: “a leap in the dark”. Leaving the EU is a risk we cannot take, he argues, because we can’t be certain that any new arrangements we may secure will be better for Britain than what we have today. For financial services, in particular, [...]
City Moves for 29 February 2016 | Who’s switching jobs February 29, 2016 KPMG KPMG has appointed Sue Kershaw as a director in the UK firm and UK head of infrastructure programme and project management. Sue, who is a board member of the Association for Project Management, brings over 30 years’ experience as a civil engineer and programme manager to the role. Sue joins from CH2M HILL where [...]
