Whiplash claims crackdown to push down cost of premiums December 11, 2012 DRIVERS will find it harder to make fraudulent insurance claims for whiplash injuries, thanks to new proposals that the government says should drive down the cost of motoring. Proposals unveiled yesterday include independent medical assessments of whiplash claimants to ascertain which injuries are real. In addition, most whiplash claims would be dealt with in the small [...]
Every little helps as Tesco boosts FTSE December 5, 2012 Tesco proved that every little helps by assisting the FTSE to a healthy rise in early trading. The supermarket group admitted last night that it is considering giving up on its struggling US venture, exciting investors who have grown exasperated with the company’s inability to transfer its success to the other side of the Atlantic. [...]
New broom Mark Carney has a lot of paperwork to sweep up November 28, 2012 FROM the forthcoming report of the Parliamentary Commission on Banking Standards to a possible resignation letter from Paul Tucker: Mark Carney has an unenviable reading list before he sets foot in Threadneedle Street as the new Governor of the Bank of England. If he wants a genuine cold-towel moment ahead of his arrival, however, he [...]
Who’s switching jobs November 27, 2012 RiverRock European Capital Partners Michel Péretié has been appointed partner and joint chief executive at the investment firm. He was most recently chief executive of the corporate and investment banking division of Societe Generale. Péretié was also previously chairman and chief executive of Bear Stearns International. Jones Lang LaSalle Jonathan Mills has been appointed to [...]
Lift to BAE Systems from Lockheed rumour helps FTSE edge upwards November 27, 2012 BRITISH top shares rose yesterday, helped by a 2.5 per cent jump in British aerospace group BAE Systems after four traders cited market speculation of interest in the company from US firm Lockheed Martin. “Vague rumours that Lockheed is showing interest,” one trader wrote in an email. BAE shares closed at 319.70p. Banks also helped [...]
Meet Mark Carney: the Canadian flown in to save the UK economy November 26, 2012 IN APPOINTING Mark Carney the new governor of the Bank of England, the government has found an ex-Goldman Sachs director comfortable with garnering the views of the City – yet unafraid of standing his ground at times of conflict. The Canadian famously clashed with JP Morgan chief Jamie Dimon after a fierce disagreement over the [...]
Government slammed over flood insurance November 26, 2012 HEAVY rain continued to bring misery to swathes of the UK last night – as the government locked horns with the insurance industry over the future of domestic flood cover. A week of poor weather has closed dozens of major roads, while some rail links are out of action and hundreds of homes have been affected. [...]
Insurance group reassures flood talks ongoing November 25, 2012 THE Association of British Insurers (ABI) last night insisted that talks with the government to secure affordable flood insurance for thousands of homes were still ongoing as the rain continued to wreak havoc across the UK. City A.M. reported last week that the recent government reshuffle had delayed talks to replace the current subsidy deal, [...]
No need to break the bank on winter travel insurance November 22, 2012 RECENT disasters – from airline collapses to volcanic ash and Hurricane Sandy – have led to disrupted travel plans, increased pressure on travel insurance companies, and vulnerable travellers facing financial loss after independently booking their holidays. You may choose to spend your winter holiday on a beach rather than white water rafting down the Colorado [...]
Getting insured for your ski holiday is snow joke November 22, 2012 You’re heading to the ski slopes for a well-earned break from City life. Your passports have been rediscovered, your flights booked, and your bags packed. But have you arranged your travel insurance? A survey of winter holiday-makers by the AA found that a third of those buying travel insurance did not check the level of [...]