The fourth emergency service’s shares head northwards after debt refinancing announcement November 17, 2016 Motoring group the AA today announced plans for a balance sheet shake-up in the hope of cutting some of its hefty interest costs. Shares in the company jumped over two per cent after it revealed plans to refinance hundreds of millions of pounds of its corporate debt pile, a move the AA said would save the company £8m [...]
Pension Insurance Corporation will launch a £250m corporate bond to fund a raft of new business November 17, 2016 A wave of Britain's largest firms are planning to offload huge pension liabilities to a key market player. The Pension Insurance Corporation (PIC), a company that specialises in taking pension headaches away from businesses, will today launch a £250m investment bond to fund a bottleneck of deals in late 2016 and early 2017. Sources close to the [...]
Personal injury lawyers disappointed at ministry of justice plans November 17, 2016 Personal injury lawyers reacted angrily to government proposals to clamp down on spurious whiplash claims. The ministry of justice will reveal proposals today, in an attempt to reduce the spiralling number of whiplash claims the insurance industry say are putting huge inflationary pressure on motor premiums. Read more: Churchill owner says "ooh yesh" after bumper motor [...]
The ministry of justice to stamp out “bogus” whiplash claims, while insurers promise to pass on savings November 17, 2016 Insurers and motorist groups celebrated government plans to get tough on bogus whiplash claims. Motor insurers have clamoured about the inflationary impact of whiplash claims over recent years. They have said that despite a generally soft insurance market, motor premiums have soared because of spiralling personal injury claims. Read more: Here's one more way the cost of motoring is [...]
Listed brick maker Forterra has reduced its debt burden since float November 16, 2016 Britain's second largest brick maker threw-off plenty of cash in the last three months, which the group has used to steadily reduce its lending. Forterra said in its quarterly trading update that net debt had been reduced to £112m at the end of October. Its net debt to earnings ratio – the number of years of earnings [...]
The Financial Conduct Authority puts communication “front and centre” as part of proposals for Lifetime Isa sales November 16, 2016 Britain's financial watchdog has set out its expectations on the rules of engagement for next year's launch of the Lifetime Isa. The Financial Conduct Authority (FCA) today issued a consultation paper that proposed financial advisers must warn investors of the key penalties and opportunity costs of using the savings wrapper. Read more: Property or pensions? Why not both? [...]
LV quits the annuity market: experts say it was inevitable November 16, 2016 LV is the next big insurance name to flee the enhanced annuity market with immediate effect. With annuity rates plummeting as the lower-for-longer interest rate environment persists, the announcement follows the earlier news that the insurer was reviewing its annuity operations. Read more: Binning the government's annuity initiative: Here's what the experts think “The writing was on the wall," [...]
Online lasting power of attorney numbers are on the up, here are five things you need to know November 16, 2016 Government do-it-yourself kits for lasting powers of attorney have been criticised and called "risky", as new figures reveal public take-up is spiralling. Lasting powers of attorney (LPA) – which transfer the responsibility to make key life choices to another person in the event of mental incapacity – have increased threefold since 2010, according to data released by the government [...]
The number of deaths might be reducing but terrorism is costing the global economy billions of dollars each year November 16, 2016 Terrorism cost the global economy an eye-watering $90bn during 2015 according to a report by a leading global think tank. The Institute for Economics and Peace today produced its Global Terrorism Index, which revealed the impact terrorism is having on the world's finances. Read more: How nuclear terrorism is a $1bn opportunity for this UK firm Perhaps unsurprisingly, [...]
Wembley Park project secures financial backing from three institutional heavy-hitters November 15, 2016 The firm behind the multi-billion pound redevelopment of the land surrounding Wembley Stadium has announced a vital £800m refinancing, which paves the way for its "new masterplan" for the area. Quintain, which was last year taken private in a £745m deal by US private equity firm Lone Star, announced it would replace its £425m loan from Wells Fargo with [...]
