Aviva snaps up Succession Wealth for £385m and rolls out bumper dividend for shareholders March 2, 2022 Insurance giant Aviva announced it has snapped up wealth management firm Succession Wealth for £385m today, as it rolled out a bumper dividend for shareholders despite a slide in profits last year.
UK: Fresh sanctions placed on Russia as Belarus swallows first tranche March 2, 2022 The UK government has imposed a second round of sanctions on Russia and fresh restrictions on Belarus, following their invasion of neighbouring Ukraine. The UK became the first country yesterday to ban all Russian ships from entering UK ports. New measures hauled in today by foreign secretary Liz Truss, amid Russian president Vladimir Putin’s sustained [...]
Russian VTB Bank targeted by sanctions given month’s asset freeze reprieve by UK March 2, 2022 A Russian bank that has been a top target of Western sanctions has been granted a 30 day reprieve by Britain to allow clients get a hold of their money and complete transactions, according to reports. VTB Bank, Russia’s second biggest lender, has been given a month long exemption from asset freezes by Britain to [...]
Insurers and analysts temper enthusiasm on Solvency II reforms March 2, 2022 Insurers and analysts have warned that the UK government’s plans to reform Solvency II, with a view to lowering the sums that insurance firms must hold in their coffers, may not live up to expectations. After City minister John Glen set out plans to reform the EU’s Solvency II rules, and “unleash” the “benefits of [...]
Balancing ties: The countries lagging in their response to Russia’s invasion of Ukraine March 2, 2022 As Europe throws its support towards Ukraine amid Russia’s invasion, a number of international players have remained quiet, trying to balance their ties between Kyiv and Moscow. A trend of neutrality has emerged from India, Brazil, the UAE, Azerbaijan and China. However, others have backed Russia, tempted by trade deals and owed favours. Pakistan today [...]
TUI’s main shareholder Alexey Mordashov resigns following EU sanctions March 2, 2022 Russian billionaire Alexey Mordashov resigned today from travel firm TUI’s board after he became a target of the EU sanctions against Russia. Mordashov, a close friend of Vladimir Putin, has been TUI’s majority shareholder for around 15 years, owning 34 per cent stake of the company. The remaining 66 per cent is owned by several [...]
Gas prices spike as Russia ramps up invasion of Ukraine March 2, 2022 Gas prices spiked across the continent amid festering fears of supply constraints following Russia's invasion of Ukraine.
Hyundai to invest $16bn by 2030 in EV push March 2, 2022 Automotive giant Hyundai is set to invest more than $16bn by 2030 in its electric vehicle (EV) businesses. The push – which is part of a wider set of investments worth $79.2bn – will help the Korean car maker to achieve a 7 per cent share in the global electric car market by 2030. “Hyundai [...]
Retail investors snap up US bargains amid market turbulence March 2, 2022 Retail investors piled into US equities in the past week as they looked for bargains amid the market turmoil sparked by Russia’s invasion of Ukraine.
Household bills could rise to nearly £3,000 per year warns Cornwall Insight March 2, 2022 Household energy bills could jump to over £2,900 a year following Russia's invasion of Ukraine, according to the latest analysis from Cornwall Insight.
