Socially conscious insurer Lemonade makes first entry into UK market October 3, 2022 New York insuretech company Lemonade Inc today launched in the UK market with a view to disrupting Britain’s centuries-old insurance sector with its socially-conscious, AI-driven business model. The digital insurer aims to break the “cycle of distrust that plagues the insurance industry” with its pledge to cap its margins at 25 per cent by donating [...]
Letters: Let’s make tech enticing October 3, 2022 [Re: Cisco chief says apprentices can plug digital skills gap, Sept 30] The Chief of Cisco is right to raise the issue of recruitment in cyber and tech more broadly. We face a technological crisis if our job vacancies are not filled, especially as hackers and cyber criminals become more sophisticated day by day. The [...]
Greater London boroughs most at risk of ‘monster’ mortgage rate hikes, say Lib Dems October 3, 2022 Greater London boroughs are most at risk as “monster” mortgage rate hikes loom, according to research by the Liberal Democrats. Sutton, Bexley, Kingston upon Thames and Redbridge are home to the highest proportion of properties owned with a mortgage, with one in three households ladened with the debt – far above the city average of [...]
Kwarteng says ‘we must stay the course’ as he defends tax cuts October 2, 2022 Kwasi Kwarteng will tomorrow defend his tax cuts and declare “we must stay the course”, after the first day of Tory party conference was overshadowed by blue-on-blue attacks. The chancellor is expected to say he is committed to “fiscal responsibility”, after funding his tax cuts through more borrowing, in a bid to calm financial markets. [...]
Rees-Mogg hints government will merge financial services regulators October 2, 2022 Jacob Rees-Mogg has hinted the government will merge the UK’s financial services regulators, after the Prime Minister’s team spoke about the move during summer. It was reported during the Tory leadership contest that Truss wanted to roll the Financial Conduct Authority, the Bank of England’s Prudential Regulation Authority and Payment Systems Regulator into one body. [...]
Minister says Rees-Mogg wants to ditch ‘all business regulations’ for SMEs October 2, 2022 Business secretary Jacob Rees-Mogg wants to scrap all business regulations for SMEs with under 500 employees, according to a Treasury minister. Chief secretary to the Treasury Chris Philp told a fringe event at the Tory party conference today that Rees-Mogg would soon outline a package of measures to slash business regulation. “One of which is [...]
Not a good look: PIRC advisory group scrutinises JD Sports boss’ multi-million pound exit deal October 2, 2022 An influential shareholder advisory group has said JD’s payout to former boss Peter Cowgill is “not a good look” for the sportswear retailer. Former JD Sports’ boss Peter Cowgill is set to receive a multi-million pound payout after making his departure from the sneaker seller. Exit terms include a £3.5m payment over two years for [...]
Semiconductor supply to be tight until end of 2023, says Stellantis boss October 2, 2022 The supply of critical semiconductors is expected to remain tight until the end of next year, the boss of Fiat carmaker Stellantis said today. Speaking to French newspaper Le Parisien, Carlos Tavaresn said: “The situation will remain very complicated until the end of 2023, then will ease a little. “Semiconductor manufacturers have an interest in making [...]
Credit Suisse chief looks to soothe staff concerns over bank’s stability October 2, 2022 The chief of beleaguered lender Credit Suisse has stepped into to soothe staff concerns over the financial stability of the bank, as it prepares to publish a major strategic review this month.
Retail traders look to profit from tumbling pound October 2, 2022 Retail traders have been looking to follow the lead of hedge funds in the past week and capitalise on wild swings in the value of the sterling, sparked by the government’s tax-cutting mini budget.
