City of London brings out new rules to tackle wind-inducing skyscrapers August 20, 2019 The Square Mile may be famed for its financial clout and history, but in recent years it has also been known for other elements: extreme wind. The City of London Corporation has become so concerned about pedestrians and cyclists being toppled over in the street by the skyscrapers that adorn its skyline that it is [...]
The founder of Yulife on avoiding the grey-suit mentality of the insurance industry August 19, 2019 Dressed in a tie-dye T-shirt and jeans, Sammy Rubin looks more like a climate change activist than the chief executive of an insurance company. But then, there’s a lesson on why you shouldn’t judge people on how they look. Indeed, there are many things we can learn from Rubin – his hippyish dress-sense feeds right [...]
Ring time: Open outcry trading sessions to be extended by London Metal Exchange August 12, 2019 The London Metal Exchange is set to extend its final open outcry trading sessions, backing its historic method of buying and selling on the floor over a potential shift towards electronic platforms. Frenzied five-minute dealing windows are to be doubled to 10 minutes on the trading floor of the world’s oldest and largest market for [...]
Lloyd’s of London ramps up modernisation drive as it hits electronic trading target August 12, 2019 It is one of the oldest institutions in the City, but there are signs of modernisation at Lloyd’s of London. The historic specialist insurance market has hit a milestone after completing over 50 per cent of its under-writing deals electronically, meeting a target it set itself for the second quarter of this year. For more [...]
Two men arrested after fight sparks ‘stampede’ at Bank Station August 2, 2019 Two men have been arrested after a fight at Monument Station which sparked “massive panic” and led to the evacuation of Monument and Bank stations. The British Transport Police (BTP) said: “Two men have been arrested on suspicion of affray after a fight at Monument Station this morning.” Read more: Police evacuate Lloyd’s of London [...]
Business confidence declines in London but firms look to hire August 2, 2019 Business confidence for firms in London fell in June, according to the latest business barometer from Lloyds Bank, but job creation plans nonetheless saw a significant uplift. Read more: Confidence among UK business leaders falls after months of gains Companies were marginally less confident about their business prospects and also reported less optimism about the [...]
Hiscox profits rise despite increase in claims in first half July 29, 2019 Insurer Hiscox today said its profit for the first half of the year rose three per cent to $168m, despite a higher volume of claims compared to the same period last year. Gross written premiums increased by just under 4.9 per cent to $2.3bn (£1.8bn), equivalent to a seven per cent rise in constant currency. [...]
Burford Capital posts profit bump as it hits back at critical analyst July 25, 2019 London-listed litigation funder Burford Capital today announced that its profit after tax grew 36 per cent to $225m (£180m) in the first half of 2019. The funder said litigation investment income in the six months to 30 June hit $264m, up 36 per cent from the same period the previous year. Burford said investment returns [...]
Lloyds to pay £140m to settle Standard Life Aberdeen row July 22, 2019 Lloyds Bank is to pay Standard Life Aberdeen (SLA) around £140m in a settlement that could end their long-running dispute over an asset management contract. Read more: Standard Life Aberdeen wins dispute with Lloyds The Edinburgh-based investment company would keep control of £30bn of assets for three years as well as receiving the cash payment, [...]
City Moves for 15 July – Who’s switching jobs at IPSX, Cushman & Wakefield and RBC Capital Markets? July 15, 2019 Today’s City Moves includes IPSX, Cushman & Wakefield and RBC Capital Markets. IPSX IPSX Group, which operates the world’s first regulated securities exchange dedicated to commercial property, has announced two new senior leadership appointments as it prepares for its first listings. David Delaney will become IPSX’s group chief executive and Roger Clarke will take up [...]