Fires and explosions cause largest value losses for businesses and insurers globally December 13, 2018 Fires and explosion are the cause of the largest claims for insurers and the businesses they cover. Analysis of over 470,000 global insurance claims from 2013 to 2018 with a value of €58bn (£52bn) by insurer Allianz Global Corporate & Specialty shows the largest financial losses come from fires and explosions. Over the past five [...]
Shares in G4S jump as its says it is considering spinning off cash division December 13, 2018 Shares in security company G4S spiked this morning after the company said it was considering spinning off its armoured cash truck business. Shares rose nearly 10 per cent to 201p this morning following the news. The company said it is "reviewing options" for the separation of its cash solutions business, following the establishment of a [...]
Serco stands out from outsourcing crowd with bullish trading update predicting strong profit growth December 13, 2018 Outsourcer Serco delivered a confident trading update today forecasting a 30-40 per cent increase in underlying profit for the year, despite the gloom that is gripping its rivals. The company predicted profit in the range of £90 to £95m, it upgraded its earnings per share forecasts for 2018 and 2019 and said its leverage and [...]
Bonmarche shares tank after it slashes profits, blaming Brexit for bleak high street trading December 13, 2018 Retailer Bonmarche lost nearly half its value this morning after investors sold out following a bleak profit warning. Its share price fell 45 per cent this morning after the markets opened. Having closed on 80p last night, shares were trading at 44p this morning. The retailer said its Black Friday sales were “extremely poor” and had [...]
Legal & General hires bankers to sell its general insurance business December 12, 2018 Legal & General has appointed an investment bank to sell its general insurance arm. According to Sky News, L&G has hired Fenchurch Advisory Partners to sell the business in a deal that could be valued at more than £300m. L&G previously tried to dispose of its general insurance arm three years ago, but that attempt [...]
Thomas Cook’s shares rebound after senior executive says bookings for 2019 have started strongly December 12, 2018 Thomas Cook’s share price jumped more than 15 per cent this morning after a senior executive said bookings for 2019 had started strongly. The travel company has experienced severe turbulence this year, warning on profits twice as the hot summer hit holiday bookings. Its share price has taken a battering, falling from 117p this time [...]
Sterling volatile ahead of no confidence vote on Theresa May December 12, 2018 The pound has been on a rollercoaster ride this morning as it reacts to a series of political shocks. Reports that the Conservative party were set to trigger a vote of no confidence in Prime Minister Theresa May – confirmed this morning – sent the pound to a fresh 20-month low against the dollar yesterday. [...]
Wood Group says 2018 performance in line with expectations but warns of future oil market volatility December 12, 2018 Ftse 250 oil field services company Wood Group said today that its 2018 performance has been in line with expectations, but warned of future market volatility. The company said it expects full-year revenue to be more than 10 per cent up on 2017, in the region of $10.9bn (£8.7bn) to $11.1bn. It said it expects [...]
Rolls-Royce confirms full-year profit guidance as it flies past supply problems December 12, 2018 Aerospace and defence giant Rolls-Royce has confirmed its full-year profit and cashflow guidance for 2018 with expectations that it will be in the upper end of its previously announced range. The enginemaker said it expected operating profit to be £400m, plus or minus £100m, with cashflow expected to be £450m, plus or minus £100m. Its [...]
Home Office backtracks on plans to scrap ‘golden visas’ for rich investors December 11, 2018 The Home Office has rowed back on plans to halt visas for wealthy investors just days after the suspension was announced. Last week immigration minister Caroline Nokes announced that the visas would be suspended at midnight last Friday amid fears about money laundering and organised crimes. However, today the Home Office confirmed that the visas [...]
