What are AT1 bonds and why has UBS started selling them? November 8, 2023 AT1s were designed in part to make it less likely that the taxpayer would have to bail out a failing bank
Direct Line: Shares rise as insurer credits ‘pricing actions’ for strong motoring growth November 7, 2023 Direct Line's share price spiked by four per cent on the FTSE 250, making it the second-top riser on the index.
Prudential: Hong Kong drives new business profits up 37 per cent as Asia strategy credited November 6, 2023 Insurance giant Prudential’s new business profit rose to ($2,14bn) £1.7bn in third quarter, which was a 37 per cent increase on the same period for 2022 as the firm credits its new strategy. Prudential said its Hong Kong arm led the surge, but it also increased sales to both Chinese mainland visitors and domestic customers [...]
The last year has taught us the City will always matter, if we stand by our values November 6, 2023 From the turmoil of a year ago, this is now a City which is not only being listened to but is fully participating in the national conversation, writes Nicholas Lyons.
FCA spends more than £250,000 on ‘debanking’ inquiry amid Natwest scandal November 2, 2023 The FCA has spent £250,000 on its “debanking” inquiry, as Natwest faces criticism over the closure of Nigel Farage’s Coutts account.
Without the City, this country wouldn’t work November 2, 2023 Every day half a million people pile into the Square Mile, and many more beyond it, to ensure the wheels of UK finance keep spinning around.
Jeremy Hunt invokes Johnson and Osborne after criticism of government’s long-term investment October 25, 2023 The Chancellor Jeremy Hunt was forced to defend the government’s approach to long-term investment today after coming under fire at a meeting of City grandees in the Square Mile.
Giffgaff hungry for more as it looks to extend portfolio and review prices October 24, 2023 Giffgaff, the mobile phone network operator, is looking to extend its portfolio and review contract prices as early next year, the chief executive has revealed.
Triple lock: Pensioners could be set for inflation-busting state pension rise next April October 18, 2023 Under the triple lock, the state pension usually rises each April by inflation, wages or 2.5 per cent – whichever is higher.
Credit insurer cover cuts leave retail sector reeling October 18, 2023 Credit Insurers have been dragged into the spotlight after it emerged that they have pulled cover on a host of some of the country’s biggest retailers over the past few months. Both Boohoo and Asos have been hit by insurers withdrawing cover on their transactions. Over the summer, it was revealed that Allianz Trade, formerly Euler [...]