Close Brothers share price jumps after snaring Direct Line chairman Mike Biggs March 14, 2017 Close Brothers' share price jumped two per cent this morning after naming its new chairman and posting half-year numbers that were broadly in line with expectations. Direct Line chair Mike Biggs will join the investment firm's board with immediate effect, taking over from Strone Macpherson on 1 May. The figures Adjusted operating profit over the first six [...]
Where to put your money? These are the most popular fund platforms for investors in the UK March 10, 2017 Investor confidence bounced up towards the end of 2016, new figures out today show, but failed to make up for a year “overshadowed by political uncertainty”. Annual platform net sales were down 16 per cent over the year as a whole, from £45bn in 2015 to £38bn in 2016. This included £10.5bn in the last [...]
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 [...]
Aviva and Legal General set to report profit rises March 5, 2017 Insurers Aviva and Legal & General are expected to report profit rises when they report on Wednesday and Thursday respectively next week. Analysts expect Aviva’s full-year operating profits to rise 8 per cent to £2.9bn and Legal & General is likely to advise operating profit increases of £1.6bn, an increase of 13 per cent, compared [...]
Chancellor is “personally committed” to finding a solution after insurers call for discount rate law change this year March 1, 2017 Insurance leaders called on the government to set a new discount rate this year in an attempt to mitigate the catastrophic effects of its decision to cut the rate on Monday. Justice secretary Liz Truss surprised insurers by cutting the personal injury discount rate, which takes into account the long-term cost of care and loss of [...]
Storm Doris: Insurers reveal a spike in claims after the UK’s worst storm of 2017 makes landfall February 24, 2017 The insurance sector has started to count the cost of the 100mph plus gales that have lashed the British Isles over the last few days. Storm Doris has led to a spike in activity for insurers, primarily in relation to land and buildings cover, with one provider saying it had already seen a 300 per cent increase in [...]
Wellcome Trust set for $100m windfall from Snap IPO as tech firm woos City investors February 20, 2017 The Wellcome Trust is set for a huge windfall from the hottest tech IPO of the year. Snap's public offering, expected next week, will return around $100m (£80.3m) to the science institution following on from successful early bets on Facebook and Alibaba, among others. It comes as the Los Angeles-based startup sought to woo European investors, bringing its IPO [...]
Why is M&A rising? The bigger the company, the more likely it is to survive February 20, 2017 Investor sentiment is still skyrocketing as Donald Trump continues his victory lap and investors revel in the fanfare. The markets are behaving as though the White House’s as-yet-undetailed economic policies will cure all ills, from the simmering uncertainty around French, Dutch and German elections to the biggest pain for chief executives – technology disruption. The [...]
Lowest earning families have just £95 in savings pot as inequality grows February 20, 2017 Low income families have just £95 in their savings and investments compared to £62,885 among high income families, according to research by Aviva. The news highlights growing inequality in the UK as the savings gap grows by 25 per cent annually, up from £50,072 last year to £62,790 in winter 2016/17. Around one in four [...]
Locals lose out as Severn Trent’s Dee Valley Water takeover gets the go-ahead from the High Court February 8, 2017 Locals' attempts to thwart the takeover of a Welsh water company have failed after Severn Trent's bid to pick up Dee Valley Water has been given the go-ahead in the High Court. The court decided the £84m deal by the FTSE 100 firm, initially agreed on back in November, could go ahead. However, it adjourned until 10 [...]