Lloyd’s chief is ‘hopeful’ insurance marketplace will stay in City HQ October 23, 2022 Lloyd’s chief John Neal has said he remains “hopeful” the insurance marketplace will stay in its iconic City of London HQ, amid rumours the firm is planning to exit its purpose-built offices when its lease ends in 2031. In an interview with The Times, the Lloyd’s of London chief executive said the insurer is “still [...]
Shell takes second stake in Qatar’s mega LNG project October 23, 2022 Shell is investing in the second phase of a mega LNG project in Qatar, just three months after buying into the initial stages of the development.
Britannia Hotels sues Aviva for £6.25m over Aberdeen fire losses October 23, 2022 Britannia Hotels has filed a £6.25m lawsuit against its insurer, Aviva, over claims it is owed millions as a result of the London insurance firm’s refusal to pay out on a claim for losses caused by a fire at its Aberdeen hotel. The hotel group has filed a High Court lawsuit against Britain’s largest insurer [...]
Central banks’ Covid QE splurge was a ‘mistake’, ex BoE governor King says October 23, 2022 Central banks were wrong to inject money into their respective economies through quantitative easing during the pandemic, the former governor of the Bank of England said today. Speaking to the BBC, Mervyn King, who steered the central bank through the global financial crisis, accused central banks of losing “control of inflation”. The Bank’s decision to [...]
Exxon Mobil to unveil monster profits powered by oil and gas boom October 23, 2022 Exxon Mobil is expected unveil another quarter of monster profits powered by high natural gas prices next week.
Womble Bond Dickinson and BDB Pitmans in talks to create £430m firm October 23, 2022 Transatlantic law giant Womble Bond Dickinson is in early stage talks to merge with British firm BDB Pitmans. The two law firms are in early discussions for a potential merger, with a view to seizing the opportunities offered by complementary practice areas and a wider geographical footprint, BDB Pitmans confirmed. If completed, the merger would [...]
UK misses Diwali deadline for India free trade deal October 23, 2022 The UK has missed its deadline to sign a trade deal with India by Diwali, with no end in sight to negotiations between the two most powerful Commonwealth countries. The Department for International Trade said the UK and Indian governments have “closed a majority of chapters” of the deal, but that there will be no [...]
Bulb bidder Ovo Energy was on Ofgem’s nationalisation watchlist October 23, 2022 Ofgem was preparing for the potential nationalisation of Ovo Energy this summer, with the supplier considered at risk of failure.
Week ahead: Drama in Westminster to grip City, but don’t forget about ECB October 23, 2022 The City’s attention will be gripped by the race to Number 10 this week, but there are some substantial economic announcements elsewhere in the pipeline that deserve a closer look. The European Central Bank (ECB), the monetary authority of the 19 countries using the euro, is expected to hike interest rates 75 basis points for [...]
Rishi Sunak announces leadership bid as he vows to ‘lead with integrity’ October 23, 2022 Rishi Sunak has formally launched his bid to be Tory leader and Prime Minister, vowing to “lead with integrity” in a clear attack on Boris Johnson. Sunak, the bookmakers’ favourite to become next UK Prime Minister, said “I want to fix our economy, unite our party and deliver for our country” in the wake of [...]
