Protectionism means UK export growth will slow next year despite weak pound says report November 27, 2017 The growth in British exports will slow next year as protectionist measures take their toll, in spite of a weaker pound boosting competitiveness, according to research published today. UK exports will increase by £20bn in 2018, slower than the £50bn predicted for 2017, according to forecasts from trade credit insurer Euler Hermes. The chemicals industry, [...]
One year of President Trump: the impact on markets November 10, 2017 President Trump has credited himself for the rise in the stockmarket since he won the US election 12 months ago. It is not fake news. Demand for equities has been strong because it is hoped the Trump administration will pass legislation reducing tax for companies, which should boost their profitability. Since the election on 8 [...]
Cohabiting couples: Don’t get caught out November 1, 2017 As fewer couples choose to tie the knot, it’s clear that marriage is no longer widely seen as the be-all-and-end-all to a relationship. Instead, many couples are opting for the cohabitation route – as sexy as that sounds. Figures from insurance giant Zurich estimate that there are more than 400,000 cohabiting families in London alone. [...]
World’s biggest fund managers control more money than the total wealth of Europe October 30, 2017 The world’s 500 biggest fund managers now control over $80 trillion (£61 trillion) of money, according to research released today. Total assets under management swelled by 5.8 per cent to $81.2 trillion by the end of 2016, according to Willis Towers Watson. This means the largest fund managers in the world control more money than [...]
Data might be like oil, but reputation is still the real black gold October 24, 2017 For those firms harbouring inordinate reserves of our personal information, despite the endless profit-churning opportunities, an unblemished corporate reputation remains priceless. Today’s internet giants were founded on our personal data. Amazon, Facebook, Google. They don’t have high street stores. There’s next-to no human interaction. It’s all data. But today, data is a democracy. Businesses in [...]
Black Monday 30 years on: how big was the crash and how fast did markets recover? October 17, 2017 On 19 October 1987 global stock markets came crashing down amid worries about a slowing global economy and high stock valuations. The concerns were compounded by a computer glitch. In the space of 24 hours stock markets in Asia, Europe and the US suffered falls of up to 23%. It was the biggest crash in [...]
Wells Fargo share price falls after it says it took a $1bn legal hit in the third quarter October 13, 2017 US lender Wells Fargo took another hit from the fake accounts scandal that enveloped it last year, as legal costs topped $1bn in its third quarter. The figures Revenues fell two per cent to $21.9bn (£16.5bn) in the three months to the end of September, it said today, while net income fell to $4.6bn, from [...]
Bank of England deputy governor pushes for EU and UK commitment to Brexit transition by Christmas October 4, 2017 The Bank of England’s deputy governor will tonight urge UK and EU politicians to agree transitional arrangements for financial services by Christmas, as regulators push for continued close cooperation after Brexit. Sam Woods, who leads the Prudential Regulation Authority (PRA), is expected to warn that firms will be forced to start putting their plans for [...]
The world’s first ever insurtech IPO has raised $1.5bn September 22, 2017 The world’s first float of an insurance technology (insurtech) firm has raised US $1.5bn (£1.1bn). Monday’s IPO of ZhongAn Online Property & Casualty Insurance has been priced at the top of its indicated range at HK $59.70, sources told the Financial Times. The public offering of the online-only group marks the world’s first float of [...]
Former spy chief takes up top role on cyber security at insurer Hiscox September 20, 2017 Specialist insurer Hiscox, a Lloyd’s of London underwriter, has appointed a former GCHQ director as its special advisor on cyber security. Robert Hannigan was credited with developing the UK’s first cyber security strategy, and with setting up the National Cyber Security Centre as part of the intelligence and security agency GCHQ in 2016. He also [...]