Woman wins tribunal against Swiss Re over executive’s sexist comments August 25, 2022 A former underwriter at Swiss Re has won an employment tribunal against the world’s biggest reinsurance company, after a senior executive at the firm told her: “If I had breast like yours, I would be demanding too.” Julia Sommer, a political risk underwriter at the Swiss insurer, is now set to receive a payout, after [...]
Soaring inflation risks creating UK property ‘insurance gap’ August 25, 2022 SOARING inflation in the construction sector threatens to create a major “insurance gap” amongst UK policyholders, London headquartered insurer Chaucer has warned. Sharp increases in the costs of building materials could leave homes and businesses underinsured, as policies fail to cover the cost of repairing and rebuilding damaged properties, research carried out by the Lloyd’s of [...]
Prudential shares continue to slide as Covid hits insurer’s profits August 25, 2022 Shares in Asia-focused insurer Prudential continued to slip over the previous day as investors maintained their scepticism towards the firm’s claims its recent losses are simply the result of Covid. The London listed firm’s shares have lost more than 30 per cent of their value since the start of 2022, as stringent Covid policies across [...]
Germany to launch new enforcement agency to strengthen fight against white-collar crime August 25, 2022 Germany has set out plans to start a new country-wide financial crime authority with a view to strengthening the country’s responses to sanctions breaches and white-collar crime. The plans will see Germany’s finance ministry combine the country’s more than 300 financial crime agencies into a new federal authority, in line with plans to “curb financial [...]
Italian government told to pay oil and gas firm Rockhopper Exploration £160m August 25, 2022 The Italian government has been ordered to pay €190m (£160m) to British oil and gas company Rockhopper Exploration over its decision to block the firm from drilling in the Adriatic Sea. An arbitration hearing ruled in favour of Rockhopper in stating Italy’s 2015 decision to block the Wiltshire fossil fuel company from drilling off its [...]
Mastercard strikes deal with Binance to launch crypto payments card August 24, 2022 Mastercard is set to launch a cryptocurrencies payments card, after striking a deal with Binance, the world’s largest crypto exchange. The crypto debit card will let users pay for everyday purchases using various cryptocurrencies, including Bitcoin, that they have stored in their Binance accounts. The payments card, which converts cryptocurrencies into fiat currency, is set [...]
BAE backed spacecraft designer Reaction Engines prepares for IPO August 24, 2022 Boeing and Rolls-Royce backed aerospace engineering firm Reaction Engines is preparing to launch a more than £1bn initial public offering (IPO). The Oxfordshire-headquartered spaceplane designer has told shareholders it intends to raise a pre-IPO round of funding, with a view to listing its shares on public markets as soon as 2024, Sky News first reported. [...]
Raab vows to break barristers’ ‘near-monopoly’ over Crown Court trials August 24, 2022 Justice secretary Dominic Raab is seeking to undermine the barristers’ strike by breaking their “near-monopoly” over crown court trials, government sources told the Daily Mail. As the UK government faces the prospect of an all-out barristers strike from the start of next month, the Ministry of Justice (MoJ) is weighing up plans to expand the [...]
Solicitors’ watchdog vows to use strike offs instead of fines in sexual misconduct cases August 23, 2022 The UK’s solicitors’ watchdog is set to cease fining lawyers for personal misconduct offences, apart from in exceptional circumstances, with a view to using non-financial sanctions instead. In a statement, the Solicitors Regulation Authority (SRA) said it is pushing forwards with plans to amend its fining regime, after the UK’s Ministry of Justice (MoJ) upped [...]
Stewarts tops UK law firm pay rankings with partner payouts of £2.7m August 23, 2022 London law firm Stewarts today said its partners will receive payouts of more than £2.7m each – more than partners at any other major UK firm. The London firm said its 21 equity partners will receive payouts of £2.74m each for the financial year ending on 30 April 2022 after the value of its profit-per-equity-partner [...]
