FTSE 100 staggers as Lloyds and Shell profits tumble October 31, 2019 The FTSE 100 dropped sharply this morning as Lloyds and Shell weighed down London’s blue-chip index, which headed for its biggest fall since 2 October. The index fell roughly one per cent to 7,254 points, with the DAX and the CAC both down 0.7 per cent. Shell’s share price fell nearly 3.8 per cent to [...]
Single cyber attack on Asian-Pacific ports could cost $110bn October 30, 2019 A single cyber attack on Asia-Pacific ports could cost as much as $110bn (£85bn), Lloyd’s of London has claimed. The historic insurance market has published a report warning that the global economy is unprepared for a scenario in which an extreme computer virus could infect 15 ports across Japan, Malaysia, Singapore, South Korea and China. [...]
The UK has a vital role to play in leading the global fourth industrial revolution October 28, 2019 For nearly a year, my mayoral programme – Shaping Tomorrow’s City Today – has promoted UK innovation and technology, addressed social and digital exclusion, and championed digital skills. And during my recent business delegation visit to Kenya, I saw the great potential that technological innovation offers to individuals and communities seeking financial empowerment. Over the [...]
City Moves for 25 October – Who’s switching jobs at Refinitiv, Ratesetter and GCA Altium? October 25, 2019 Today’s City Moves includes Refinitiv, Ratesetter and GCA Altium Refinitiv Financial markets data platform Refinitiv yesterday announced the appointment of Alex Cesar as its new chief technology officer (CTO). Alex will lead the software engineering teams that build, operate and innovate Refinitiv’s strategic data platforms and the core capabilities and requirements that underpin them. Alex [...]
AIG eyes wealthy clients after launching new syndicate at Lloyd’s of London October 23, 2019 Lloyd’s of London has been given a major boost today after American International Group (AIG) revealed plans to set up its new high-end business at the historic marketplace. AIG is launching a syndicate at Lloyd’s of London aimed at serving the specialist US high net worth market in a move that it said could generate [...]
Administrators hunt Bell Pottinger partners in bid to claw back ‘excess’ pay October 23, 2019 Former partners at the disgraced PR firm Bell Pottinger have been forced to repay hundreds of thousands of pounds in salaries they earned before the business collapsed. The London-based PR company went into administration in 2017 following a scandal over its work for the billionaire Gupta family in South Africa, where it was accused of [...]
Extinction Rebellion targets Blackrock in protest over ‘climate criminals’ October 14, 2019 Extinction Rebellion protesters today targeted the London headquarters of Blackrock as they set their sights on the City over its role in what they describe as a looming environmental emergency. Climate activists glued themselves to the doors of the asset management giant, while others staged a mock dinner party with rolled up banknotes on their [...]
It’s up to businesses to make sure no one gets left behind in the digital revolution October 14, 2019 The digitisation of the global economy is transforming the way we communicate, work and live. Today, you can transfer money to the other side of the world in the blink of an eye, pay for a coffee by tapping your phone, and open a bank account in minutes. The startling growth of the UK’s innovative [...]
The hurdles holding back home ownership October 3, 2019 There is good news and bad news when it comes to the numbers of first-time buyers in 2019. The good news is that, despite existing homeowners taking a more cautious approach in this uncertain political and economic climate, sales are up almost six per cent compared to this time last year. However, the positive statistics [...]
Campaigners hail milestone as FTSE boards hire most women in 450 years October 2, 2019 City grandee Dame Helena Morrissey has hailed an effort to bring more women onto the boards of London’s quoted companies as the FTSE 350 hit a major milestone. For the first time in its nearly 450-year history the exchange’s top companies have boards where 30 per cent of the members are women. Read more: Diversity [...]