Axa rejects claim FCA’s Consumer Duty could hurt City’s finance sector March 22, 2023 The head of Axa’s UK & Ireland division has pushed back against claims the Financial Conduct Authority’s new Consumer Duty could hinder the City’s competitiveness. Claudio Gienal, chief executive of AXA UK and Ireland, told City A.M. he “supports” the FCA’s new customer-focused mandate. Gienal also said he doesn’t “see an issue with competitiveness” around [...]
European insurance M&A deals hit record high as investors shrugged off recession and interest rate fears March 22, 2023 The market for M&A deals involving European insurance companies surged in 2022, as private equity funds continued to drive the market forwards, despite the headwinds facing the global economy. The boom saw investors shrug off rising interest rates to complete a record 435 M&A deals in 2022, up from 285 in 2020 and 379 in [...]
37 per cent of flights delayed last year – but London’s Heathrow, Gatwick and Luton airports not worst offenders March 22, 2023 More than a third of flights to and from UK airports last year were delayed, new figures show. The Civil Aviation Authority (CAA) said an “unacceptable” 37 per cent of flights were at least 15 minutes late in 2022. That is up from 17 per cent in both of the preceding two years and 25 [...]
Rishi Sunak’s Brexit deal passes despite 22 Tory MPs rebelling including Johnson, Patel, Truss and IDS March 22, 2023 MPs have voted in favour of regulations to implement the Stormont brake aspect of Rishi Sunak’s Windsor Framework Brexit deal by 515 votes to 29. The prime minister’s agreement with the EU on a revised plan for post-Brexit trade in Northern Ireland (NI) was backed by a majority of 486 MPs in the House of [...]
London renters forking out ‘unseasonable’ £570 a week as supply of homes dwindles March 22, 2023 London rent prices have shown no sign of cooling in February, with renters in the capital now forking out up to £570 per week on affordable accommodation costs. According to figures by letting agent Foxtons, a limited pool of supply and challenging economic outlook has forced rent prices up five per cent in the capital [...]
Lawsuit against City grandee Sir Stuart Lipton over 22 Bishopsgate is dropped March 22, 2023 A lawsuit filed against City grandee Sir Stuart Lipton over the development of 22 Bishopsgate has been dropped after a judge described the case against him as “wholly misleading.” Former business partner Hamid Alqumairi claimed he was key in fixing the deal to build one of London’s tallest skyscrapers and was owed £11 million in [...]
PMQs sketch: Starmer’s cameo on Law & Order March 22, 2023 When in doubt, dig in on law and order. This is underlined, twice, in Sir Keir Starmer’s playbook. The American TV show was, after all, running for more than twenty years, so surely they know a thing or two about what people want. Indeed, the Labour leader was spoilt for choice with Conservative chaos today. [...]
Met Police needs to root out ‘several hundred’ officers to repair image, says author of damning report March 22, 2023 The embattled Met Police needs to root out several hundred officers who shouldn’t be in uniform, Baroness Louise Casey said following publication of her blistering report on the institutional failings of the force. Casey’s report branded the Met Police “institutionally racist, misogynist and homophobic” and warned killer and rapist cops like Wayne Couzens and David [...]
Changes at the top as crypto exchange Luno shuffles management pack March 22, 2023 Crypto exchange Luno has undergone a series of strategic changes it says will position the company for its next phase of growth.
Global green transition needs an extra $2.5tn a year to reach net zero by 2050, study says March 22, 2023 Investment in the global green transition needs an rise by an extra $2.5tn a year in order to reach net zero by 2050, a new study has suggested. Capital investment will need to average $3.5tn a year between now and 2050 to reach net zero, according to a new report from international think tank The [...]
