FTSE 100 history: how the index has changed over 33 years July 3, 2017 The FTSE 100 index has just seen one of its quarterly changes with security firm G4S and real estate investment trust Segro promoted to the top 100. Although perhaps small in themselves, these regular events have changed the face of the UK’s leading index since it was formed in 1984. For the many investors whose [...]
The new voice of British banking: UK Finance launches today with new board members revealed July 3, 2017 The British finance industry will be publicly represented from today by a single new body, UK Finance, after the merger of six separate lobby groups. The new body, which officially starts operations today at Angel Court, behind the Bank of England, will represent over 300 British firms providing credit, banking, markets and payments services. The [...]
Inside the Luxembourg bid to lure City firms after Brexit: How the Grand Duchy lines up against Frankfurt, Paris, Dublin and other rivals April 3, 2017 Alongside large and threatening Frankfurt, loud and opportunistic Paris and plucky Dublin, Luxembourg has kept a relatively low profile in the scramble to soak up some of London’s financial services power since the UK’s Brexit vote. But make no mistake, Luxembourg will be growing as a result of the UK’s decision. The city’s business area [...]
Budget 2017: Winners and losers of Philip Hammond’s Spring Budget March 8, 2017 Today, chancellor Philip Hammond delivered his first (and last) Spring Budget. Here are the day's winners and losers. Read more: Budget 2017: Philip Hammond's speech in full Winners Tech got quite the showing in Hammond's Budget. The chancellor pledged millions of pounds of fresh funding for disruptive new technologies like robotics, electric cars and biotech along with plans to [...]
City Moves for 7 March 2017 – who’s switching jobs? March 7, 2017 Today's City Moves cover corporate broking, risk and insurance advisory and corporate advisory. Take a look at these movers and shakers: Peel Hunt Peel Hunt, the independent corporate broking, advisory and trading house focused on UK mid and small caps, has appointed Damindu Jayaweera to the role of Technology Analyst, effective immediately. Damindu joins from [...]
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 [...]
Government cuts discount rate: Insurance sector says “crazy” decision will cost the industry billions February 27, 2017 The UK's insurers were left reeling this morning after the government announced changes to a key insurance sector discount rate, costing them hundreds of millions of pounds. Direct Line said annual profits for 2016 would be cut by up to £230m, while motor insurer Admiral estimated it will take a hit of up £100m and is to [...]
Axa UK’s chief executive: With a future of fleets of drones and driverless cars, incumbent insurers must act now January 13, 2017 Running late for work, you burst out of the front door and jump into the back seat of your car. Checking that the coast is clear, the vehicle pulls out of the drive and patiently glides down the street, pausing for traffic. Meanwhile, your smartwatch, gauging your speed and accessing the latest traffic data knows [...]
Investment trust winners of 2016 December 29, 2016 Investment trusts focused on Asia are on course to deliver some of the best returns in 2016, according to data for trust sectors. Investment trusts are an alternative to more commonly held open-ended funds or unit trusts, offering some advantages. This is explained here: investment trust v open-ended funds Here, we look at the performance [...]
The City watchdog is looking for feedback on how best to protect consumers’ cash December 14, 2016 The City watchdog has today launched a consultation into how best to fund the safety net which compensates consumers when financial services firms find themselves in hot water, including measures which could lead those most likely to wobble the market paying more to keep it secure. The Financial Conduct Authority (FCA) noted the funding rules for the [...]