AIG’s Hancock steps down: Donald Trump’s regulatory adviser Carl Icahn praises board’s “transition plan” March 9, 2017 AIG's global chief Peter Hancock has announced he will step down after just over two years in the role, with a ally of US President Donald Trump praising the move. The insurance giant announced the president and chief executive would be leaving as part of a wider "transition plan". Hancock will remain in place until AIG has found [...]
Aviva share price rockets after releasing annual results that “speak for themselves” March 9, 2017 Aviva's shares leapt over six per cent this morning after beating forecasts and building up a hefty cash pile to reward investors. The figures Similar to other insurers, Aviva was hit by the Lord Chancellor's decision to cut the discount rate. It said the move had hit profits after tax by £380m. In its reported [...]
Co-op Bank stems losses to £477m but says legacy problems and lower for longer interest rates led to sale March 9, 2017 Co-operative Bank today said legacy issues and low interest rates had dragged on performance and prompted the lender's owners to put the bank up for sale. Although the bank reduced annual losses of £477m from £611m in 2015, it took a further £60m hit from its merger with Britannia Building Society and was slapped with an £82m charge following [...]
Sports Direct share price falls after unveiling plans for the UK’s first board worker rep March 9, 2017 Mike Ashley's Sports Direct said it was breaking new ground in good corporate governance after announcing it is kicking off the process to elect the UK's first board worker representative. All "directly-engaged workers" can put their names in the hat for the high-profile role and the firm will then conduct an extensive "assessment" process, before putting a selection of candidates forward [...]
BT unanimously backs Rio Tinto chair Jan du Plessis to deal with “continuing challenges” March 9, 2017 BT has announced Rio Tinto's Jan du Plessis will take over as chairman of the telecoms giant from November. Du Plessis succeeds Sir Mike Rake who will step down after 10 years in the job. He admitted it was "an important time" for BT while Rake highlighted the new chairman will face "continuing challenges". The FTSE 100 firm [...]
Uber bans drivers from using Greyball technology that helps them to dodge investigators March 9, 2017 Uber has banned the use its controversial “Greyball" technology, which helps the drivers dodge undercover investigators. The counter-intelligence programme allows the tech giant to identify undercover officials trying to expose Uber’s operations in cities where it has previously banned. Read more: The worst or best job in tech? Uber's hiring a COO Once identified, the [...]
Budget 2017: Two unusual places the government is raking in the cash March 8, 2017 Experts have highlighted two surprising sources that either have, or are set to be, lucrative sources of income for chancellor Philip Hammond. Buried in the reams of figures that accompany the Treasury's budget are a couple of streams that will help to bolster Whitehall's coffers. 1 – Pensions freedoms PwC's chief actuary Steven Dicker explained how [...]
Budget 2017: Two unusual places the government is raking bolstering its cash coffers March 8, 2017 NULL
Budget 2017: Four things pensions experts have had to say about the Budget March 8, 2017 Former chancellor George Osborne will be remembered for monkeying around with pensions, in particular for ushering in pensions freedoms that were announced in 2014 implemented the following year. Philip Hammond didn't do too much on pensions in his Autumn Statement in November. So what was he up to today? 1 – Quiet day Beancounters EY [...]
Budget 2017: NS&I saving bond disappoints those looking for a decent return March 8, 2017 Savers on the hunt for a better rate of return may not be jumping for joy, after chancellor Philip Hammond failed to impress them with the launch of a National Savings & Investment (NS&I) three year bond that pays a 2.2 per cent return. Labelling it a "welcome break for hard-pressed savers" in today's budget, Hammond [...]
