Zurich completes deal to cover more than £2bn of National Grid pension liabilities May 15, 2018 Zurich has agreed a longevity swap of more than £2bn of pension liabilities from the National Grid in its Electricity Supply Pension Scheme. The insurance agency said the transaction would protect National Grid against “risk of rising costs” that have come about from 6,000 pensioners and future dependant members living longer than expected. It will [...]
BT’s share price plummets as it confirms plan to slash 13,000 jobs and quit London HQ to cut £1.5bn in costs May 10, 2018 BT’s share price fell nearly 10 per cent this morning as the telecoms giant revealed plans to cut 13,000 jobs and quit its London headquarters as the telecoms giant looks to cut costs. The jobs – mainly back office and middle management roles, two-thirds of which are UK-based – will be lost over the next [...]
TSB online banking woes continue into second week as customers complain about account access troubles April 30, 2018 TSB’s online banking troubles persisted into a second week this morning, with customers complaining of trouble accessing their accounts and getting into the mobile app. Yesterday, its online banking services were still only running at half capacity, a week after problems first emerged with a migration of computer systems. In its most recent update online, [...]
Is Facebook too powerful? April 26, 2018 Three hours and 27 minutes into Mark Zuckerberg’s testimony before the Senate, senator Dan Sullivan pressed him on the question – is Facebook too powerful? It’s a sentiment reflected by the House of Lords here in the UK, which has called on the Competition and Markets Authority to launch a study into Google and Facebook’s [...]
From vicars to City titans: Goldman Sachs, Shell and Barclays among names behind £550m Lloyds legal battle | City A.M. April 4, 2018 Today City A.M. reveals the varied and surprising names behind a massive £550m legal battle with Lloyds over its takeover of HBOS at the height of the financial crisis – and the cast includes major institutions, aristocrats, vicars and politicians. The groups, which includes institutions such as Goldman Sachs, Nomura Asset Management and pension funds [...]
Jeremy Corbyn-supporting Jewish Voice for Labour is planning an anti-anti-Semitism rally March 26, 2018 Jeremy Corbyn’s supporters are organising a rally to counter the protest against the party leader’s apparent toleration of anti-Semitism. The original protest, organised by the Board of Deputies of British Jews and the Jewish Leadership Council, is scheduled to begin outside parliament at 5:30pm today. However, the Jewish Voice for Labour is organising a rally [...]
Jeremy Corbyn-supporting Jewish Voice for Labour is planning an anti-anti-Semitism rally March 26, 2018 Jeremy Corbyn's supporters are organising a rally to counter the protest against the party leader's apparent toleration of anti-Semitism. The original protest, organised by the Board of Deputies of British Jews and the Jewish Leadership Council, is scheduled to begin outside parliament at 5:30pm today. However, the Jewish Voice for Labour is organising a rally [...]
Last week in the City March 23, 2018 This week, China warned the US that it is not afraid of engaging in a trade war, the Federal Reserve hiked interest rates again, and Facebook shares plummeted after allegations that millions of users' profile data had been harvested. The FTSE 100 was down 3.5% over the course of the week by mid-session on Friday. [...]
BT candidates face “Crystal Maze” challenges as part of firm’s 1,300 new job push March 21, 2018 BT is to use a virtual reality version of “Crystal Maze” challenges to separate the wheat from the chaff as part of a new hiring spree. The telecoms giant is to create more than 1,300 graduate and apprenticeship jobs in the UK. It claims to be one the first companies in Britain to use such [...]
Britain’s 5G auction starts tomorrow – and this is how it will work March 19, 2018 Mobile firms will today be putting the final touches to planned bids for tomorrow’s spectrum auction. Regulator Ofcom will tomorrow start the process of flogging packages, some of which will allow mobile providers to roll-out 5G plans in around a year’s time. Who is taking part? Despite a wide range of mobile providers in the [...]