Insurer Phoenix reports £1.7bn cash generation December 3, 2020 Insurer Phoenix Group has reported a full-year cash generation of £1.7bn, exceeding the top end of its target range and more than doubling from last year. The life insurer’s reported cash generation compares with £707m it reported in 2019 and a target range of £1.5-£1.6bn. Group CEO Andy Briggs said: “As we execute successfully against [...]
French regulator calls on EU to fix derivatives rules to lessen Brexit hit December 3, 2020 French securities regulator the AMF has told the EU that it should fix its derivatives trading rules to avoid damage to its own financial sector once the UK finally leaves the bloc on 1 January. Robert Ophele, the AMF’s chair, said that if rules were not amended it would penalise European banks trading in London. [...]
Pfizer given protection from legal action by UK government December 3, 2020 The government has granted Covid-19 manufacturer Pfizer a legal indemnity protecting it from being sued, enabling its coronavirus vaccine to be rolled out across the country as early as next week. The Department of Health and Social Care has confirmed the company has been given an indemnity protecting it from legal action as a result [...]
Only 3,600 households have signed up to Sadiq Khan’s energy company December 3, 2020 Fewer than 4,000 London households have signed up to Sadiq Khan’s green energy company that he set up this year for £3.2m. City Hall figures shows that London Power has just 3,658 customers, meaning City Hall has spent £875 per customer. London Power, which is run by Octopus Energy, was set up by City Hall [...]
Snakes and Ladders: Who is moving jobs in the City this week? December 3, 2020 Snakes and Ladders provides a roundup of the most important hires and job moves across the City, every Wednesday afternoon. Email citymoves@cityam.com to be featured. Firms are continuing to adapt to the challenges and opportunities presented by the pandemic as they vie to be in prime position to recover from the economic fallout of the crisis. This week, [...]
Putting the ‘great’ back into Great British brands December 3, 2020 UK businesses are failing to realise a return on investment from their biggest asset to help drive sales growth: brands. Unless urgent action is taken, there will be irreversible damage to the ability of British businesses to compete on a global scale. The declining brand values of British companies are reflected in 2020’s BrandZ Top [...]
DEBATE: Should museums and galleries consider auctioning off items to stay afloat? December 3, 2020 Anita Choudhrie, philanthropist and founder of Stellar International Art Foundation, says YES UK museums have long been reticent about deaccessioning. Ethical codes for British museums and galleries state that items should be retained within the public domain, but that in exceptional circumstances sales can occur, provided that proceeds are used to benefit the collection. No [...]
Nicola Sturgeon is no Mother Christmas December 3, 2020 If there is one political certainty I would bet my house on, it’s that when politicians are in serious trouble they will suddenly make a major announcement to push the damaging story off the news agenda. There is no better exponent of this trait than the media operation of Nicola Sturgeon and her Scottish government, [...]
Boost the UK’s space power now — or risk a catastrophic cyber strike December 3, 2020 At the start of this year, the coronavirus pandemic took the world by surprise, and the UK was ill-prepared to deal with it. Now, as we head towards 2021, the end of Covid-19 appears to be in sight. But there are other threats on the horizon that Britain is not ready for. As the defence [...]
Lockdown batters UK footfall but retailers hope for Christmas boost December 3, 2020 Retail footfall plummeted in November amid the closure of non-essential shops, though the decline was less severe than the first lockdown earlier this year. Visitor numbers were down more than 51 per cent year on year last month as tighter Covid-19 restrictions took their toll on the high street. The decline was steeper than the [...]
