Direct Line faces ‘bumpy road ahead’ as motor claims soar May 9, 2023 Direct Line warned that rising motor claims would put pressure on earnings today, as it published its first quarter results. The company reported a 9.7 per cent rise in first-quarter underlying gross written premiums to £805.7m. The insurer warned its motor segment would continue to “put pressure” on earnings, as damage related claims tick higher [...]
Tesco chairman accused of inappropriate behaviour, Guardian reports May 9, 2023 The Tesco chairman John Allan has been accused of alleged inappropriate behaviour relating to four women, according to reports in the Guardian. Allan, the newspaper claims, allegedly touched the bottom of a senior female Tesco staff member in June 2022, at the firm’s annual general meeting (AGM). He also allegedly touched the bottom of a [...]
Sorry about the takeover, but welcome to the board: Suisse boss to join UBS top team May 9, 2023 Credit Suisse’s boss will join the board of UBS after it closes its rescue takeover of the Swiss banking rival. It is part of a major leadership reshuffle two months after the Government-led rescue takeover of Credit Suisse in a 3.25 billion US dollar (£2.64 billion) deal by UBS. Ulrich Korner, who joined Credit Suisse [...]
Purplebricks shares tank as estate agent warns of long road to profitability May 9, 2023 Purplebricks has warned investors that a return to profitability early next year was unlikely, as the online-only estate agency continues to mull a sale in efforts to take in some cash. Purplebricks’ share price was last trading down over 60 per cent after it revealed instruction levels in remained below last years levels, forecasted at [...]
God vs Big Oil: Church of England loses faith in Shell’s climate plans ahead of AGM May 9, 2023 The Church of England will vote to oust Shell's chief executive Wael Sawan and chairman Sir Andrew Macenzie.
Virgin Galactic shares take-off after astronaut test flight announcement May 9, 2023 Space-tourism company Virgin Galactic Holdings said on Monday that a four-member test flight will take place in May and that it aims to launch its first commercial flight in late June. Shares in Virgin Galactic jumped four per cent after the company said the May mission would be the final test of the spaceflight system [...]
Regulator probes Deloitte over audit of fashion firm Joules May 9, 2023 The Financial Reporting Council has opened an investigation into the audit of embattled retailer Joules today after Deloitte signed off its accounts prior to the firm’s collapse last year.
London tech grandee lined up to lead embattled WANdisco’s recovery effort May 9, 2023 The beleaguered data firm WANdisco is set to appoint the businessman Stephen Kelly as interim chief executive, it announced on Tuesday. Kelly previously served as chief executive of the software companies, Chordiant, MicroFocus and most recently FTSE100 constituent, Sage, until 2018. “I am a firm believer in the potential of WANdisco’s technology to become a [...]
Saudi Aramco’s profits slide to £25bn as world’s largest energy company is dragged down by lower oil prices May 9, 2023 Saudi Aramco reported a clear dip in earnings over the first three months of the year, blaming lower global oil prices for reduced profits.
Mortgages: Are 100 per cent no deposit loans about to make a comeback? May 9, 2023 One of the UK’s largest building societies is considering launching a no deposit, or 100 per cent loan to value mortgage. Mortgages which do not need a downpayment, or deposit, were phased out after the financial crisis. Although 100 per cent or zero deposit mortgages have been available since 2009, lenders will only offer them [...]
