Insurance brokers slammed for conflicts of interests amid coronavirus business interruption claim disputes May 20, 2020 Insurance brokers have been attacked for “scandalous” conflicts of interests in a report published today. Insurance brokers are appointed by clients to arrange coverage with insurance underwriters for which the client pays them a fee. However, the report from insurance policyholder advisers Mactavish estimated that up to 80 per cent of broker revenue comes directly [...]
Business travel will still matter in a post-pandemic world May 6, 2020 The outcome of the Government’s review of lockdown this week may provide a glimpse of the steps necessary for economic recovery. Yet, the business community is fully aware that recovery will be a gradual process. There will be no magic panacea. Recovery requires long and careful planning and for many industries to work closely together. [...]
Insurers accused of not ‘sharing the pain’ with businesses during coronavirus pandemic April 19, 2020 Insurers have been accused of not “sharing the pain” of UK businesses during the coronavirus pandemic. Research by insurance consultancy Mactavish found at least five commercial insurers have recently removed cover from their policies because of Coronavirus. Mactavish chief executive Bruce Hepburn said: “We have customers getting less cover and paying more for this, whilst [...]
‘Catastrophic’: Hospitality and leisure industries sound alarm over Johnson measures March 17, 2020 The UK’s hospitality industry issued a doom-laden warning last night after Prime Minister Boris Johnson yesterday told Brits to steer clear of pubs, eateries and theatres as the government escalated its coronavirus “fightback”. In a statement which Johnson acknowledged was unprecedented in peacetime, he urged Londoners in particular to “avoid all non-essential contact” with others [...]
Coronavirus measures to have ‘devastating’ impact on UK hospitality sector March 16, 2020 The UK’s pubs and restaurants have called on the government to offer urgent financial help after Boris Johnson advised people to avoid social gatherings, in what could be a death knell for London’s pubs, restaurants and leisure businesses. The prime minister urged the public to practice “social distancing” by staying at home rather than eating [...]
2020 Budget live: City reacts to Rishi Sunak’s spending plans March 11, 2020 Welcome to City A.M.’s 2020 Budget Day live blog. Please refresh your browser for live updates. Chancellor Rishi Sunak is expected to address fears over the economic impact of coronavirus, and announce waves of new infrastructure spending and changes on taxation in his 2020 Budget. It comes after Bank of England governor Mark Carney earlier [...]
Rory Stewart wants to set up City of London embassies across EU February 16, 2020 City of London embassies will be set up across EU capital if Rory Stewart is elected mayor of London. The ex-international development secretary is running as an independent mayoral candidate in the May election, after having the Conservative whip removed last year over his opposition to a no-deal Brexit. Stewart believes as mayor of London [...]
Sadiq Khan interview: The London mayor talks tech tax, Brexit, Labour and Uber January 30, 2020 There can be no doubt that last year’s General Election redrew Britain’s political landscape. But for an example of just how different things have become, consider that next week a Labour mayor of London will warn a Tory chancellor against imposing new taxes on multinational tech giants. Sadiq Khan tells me he enjoys a good [...]
Flybe ‘near collapse’: What do we know so far? January 13, 2020 Flybe, the biggest regional airline in Europe, is said to be on the brink of collapse. Sky News reports the carrier is engaged in a frantic bid for emergency funding, and the government is also said to be involved in the talks – which come just four months after Thomas Cook went bust in late [...]
Andrew Bailey: Three issues the new Bank of England chief will have to tackle January 5, 2020 A safe pair of hands. That’s the cliche about the new Bank of England governor Andrew Bailey, who will take over the position from Mark Carney in March. The City and the British public will be hoping it is correct. Bailey does indeed have about as much experience of the BoE as it is possible [...]