Exclusive: So Energy criticises ringfencing proposals amid deepening industry row June 22, 2022 So Energy has raised concerns over Ofgem's proposals to reform the energy market, and has called on the regulator to be transparent.
Centrica slams Ofgem after regulator hesitates over ringfencing June 20, 2022 Centrica boss Chris O'Shea has reignited calls for the ringfencing of consumer balances, and has urged Ofgem to speed up reforms.
Octopus Energy locks horns with Centrica over market reforms as bidding war for Bulb lights up June 12, 2022 Two of the UK's biggest energy firms remain at loggerheads over key proposals to fix the industry by ringfencing customer balances.
Marine and aviation insurance premiums more double as policyholders feel hit from Ukraine war May 30, 2022 The cost of insuring certain marine and aviation businesses has more than doubled due to rising costs and the risks associated with the war in Ukraine. Global insurance premiums increased 11 per cent in the first quarter 2022, as conflict in Ukraine pushed up insurance costs worldwide, Reuters said. However, insurance costs have soared particularly [...]
Exclusive: Businesses’ troubles mount as late payment of invoices gets worse and worse May 30, 2022 SMEs are suffering as late payment of their invoices has become a bigger issue in the past 12 months. In fact, nearly one in four (24 per cent) SME owners and managers say delays in payment of invoices have got worse in the past year with 5 per cent saying it has become much worse. [...]
AerCap posts $2bn net loss as jets remain stranded in Russia May 17, 2022 AerCap has posted a $2bn net loss in the first three months of 2022 as more than 100 of its jets remain stranded in Russia following the invasion of Ukraine. The world’s largest aircraft lessor said today that after sanctions were imposed on Moscow by the West, 113 of its jets and 11 engines remained [...]
Credit inclusivity must go beyond buy now pay later to cater for those in need of access May 13, 2022 Credit has a huge inclusivity problem in the UK. It’s encouraging to see buy-now-pay-later (BNPL) firms make moves to share their data with credit referencing agencies (CRAs) ahead of regulatory deadlines. However, there’s much more to be done to help millennials improve their credit, and a real risk in advising consumers to increase BNPL usage [...]
Tingo and MICT agree to merge May 12, 2022 African agri-fintech company Tingo and financial services provider MICT have executed a definitive merger agreement to consolidate both operations across the African and Asian markets.
Welcome the era of integrated finance, led by banks and fintechs partnerships May 12, 2022 The digital revolution is transforming the way people do business and, whether we like it or not, innovation is now at the heart of our banking system. Traditional banks are no longer lone players in the field. Fintech innovators are gaining momentum by fully digitising their services and revitalising customer relations. These new players know [...]
Letters: Insurance is paying a price May 11, 2022 [Re: Hiscox sets aside £32m to weather impact of war in Ukraine, May 5] What’s happened with insurer Hiscox is just another example of how the insurance industry is now entering the most prolonged hard market in living memory. After the financial and reputational losses sustained during the pandemic, we are now deep into a [...]