Puffed: Imperial Brands shares drop on vaping slowdown May 8, 2019 Shares in cigarette maker Imperial Brands fell more than five per cent today after it announced weaker-than-expected e-cigarette sales. Read more: Imperial Brands boosts revenue as its bets on vaping The company boosted its half-year net revenue 3.8 per cent to £3.6bn and earnings-per-share increase 1.1 per cent to 115.6p, ahead of analysts’ forecasts. However, [...]
Treasury Committee chair Morgan criticises government over economic crime reforms May 8, 2019 The chair of the Treasury Committee Nicky Morgan MP criticised the government today for failing to create a register of politically exposed persons to help fight economic crime. Morgan was commenting on the government’s response today to the Committee’s recent report on economic crime. “It is disappointing that the government has chosen not to endorse [...]
UK adults could lose out on a combined £100m a year by not investing their savings May 8, 2019 UK adults could be losing out on a combined £100m a year by not investing their savings, according to research published today. A survey of over 2,000 adults by money app Yolt found one-in-four leave their savings in their current account and 14 per cent do nothing with their savings at all. On a nationwide [...]
London’s commercial courts hear record number of cases despite competition from overseas rivals May 7, 2019 London’s commercial courts heard a record 258 cases in 2018-19, up 63 per cent on the previous year. There was also a 54 per cent increase in the number of litigants using the courts in the year to March, with litigants coming from 78 countries, a report published today by Portland Communications shows. Read more: [...]
City watchdog proposes mortgage shake-up to boost consumer choice May 7, 2019 The Financial Conduct Authority (FCA) today announced changes to mortgage advice rules to try and increase choice for consumers. The City watchdog identified a number of ways its advice rules are acting as a barrier to the development of new tools to help consumers choose and buy a mortgage and the new rules are aimed [...]
Insurer Hiscox grows premiums as London market rates improve May 7, 2019 Insurer Hiscox grew gross written premiums in the first three months of the year as rates improved in the London market. The Lloyd's of London insurer said gross written premiums grew 3.3. per cent in constant currency to $1.164bn (£890m) in the first quarter. Read more: German insurer Allianz close to deal for L&G's general insurance [...]
Eurozone business confidence crumbles as bosses grapple with economic uncertainty May 7, 2019 The vast majority of European chief financial officers (CFOs) continue to consider the current level of financial and economic uncertainty as high or very high, a new survey shows. Uncertainty is now higher in the euro area, increasing to 65 per cent in the last six months from 62 per cent, in contrast to the [...]
Business confidence steadies on Brexit delay decision May 7, 2019 Business confidence has stayed steady for the first time in 12 months as the prospect of an imminent UK exit from the EU recedes. According to an index from the Institute of Chartered Accountants in England and Wales (ICAEW), business confidence stood at -16.6 per cent in the second quarter, similar to 16.4 per cent [...]
Maurice Turnor Gardner’s senior partner on a decade in the City, John McDonnell and being Allen & Overy’s first female partner May 6, 2019 Lawyer to the super rich Clare Maurice has a disarmingly simple view of the world. “Life doesn’t change really, people are born, get married, make money and die,” she says. The senior partner of private wealth boutique Maurice Turnor Gardner is reflecting on the ten years since she led a breakaway from Allen & Overy [...]
London jumps to second in global ranking of best cities to invest in May 2, 2019 London has overtaken Hong Kong to take second place in a global ranking of cities with the most investment potential. London rose to second place in the index compiled by asset manager Schroders, up from third place in 2017 and eighth place in 2016. Its position in the table has been boosted by strong employment [...]
