Lloyd’s of London insurer opens investigation amid ‘fresh harassment claims’ June 11, 2019 Tokio Marine Kiln (TMK), one of the Lloyd’s of London’s top insurance firms, is conducting an investigation amid claims two executives harassed colleagues. The claims deepen the scandal surrounding workplace culture at Lloyd’s of London. Allegations are believed to include one executive groping colleagues and making lewd sexual remarks. Another has been accused of stalking [...]
Three reasons why the UK stock market looks compelling May 31, 2019 Whatever the opposite of a sweet spot is, many investors think UK equities are currently in one. With Brexit still unresolved, some have put the market in the “too difficult” basket. While it is understandable to fear uncertainty, as stock pickers we embrace the mis-priced opportunities created by it. The global nature of the market [...]
London business confidence falls in May as Brexit chaos continues May 31, 2019 Business confidence in London fell nine points in May to 10 per cent, according to a study published today. Companies in the London region reported lower confidence in their business prospects, with a 12 point fall to 16 per cent, the report from Lloyds Bank showed. London firms’ hiring intentions showed a net balance of [...]
Ex-European Commission president says UK financial services should be higher on Brexit agenda May 21, 2019 The UK’s financial services sector should be much higher on the agenda of Britain’s Brexit negotiators, the chairman of Goldman Sachs and former president of the European Commission said today. Read more: Helena Morrissey casts vote for Brexit party in upcoming Euro-election “I'm relatively surprised by the fact that until now in the discussion of [...]
Lloyd’s chair says misconduct cases may emerge as soon as this week May 21, 2019 Lloyd’s chairman Bruce Carnegie-Brown expects two or three cases of serious misconduct at the insurance marketplace to emerge as soon as this week as his organisation tackles reports of widespread sexual harassment. Read more: Lloyd's of London unveils 'robust plan' following sexual harassment claims “There are two or three quite big live issues out there [...]
Fintech startup Wagestream picks up £15m from Balderton and Northzone May 20, 2019 London fintech startup Wagestream has today closed a £15m series A funding round, co-led by venture capital investors Balderton Capital and Northzone. The round was raised in addition to a credit facility of up to £25m Shawbrook Bank. At £40m, Wagestream chief executive Peter Briffett said the total amount raised marks the largest single social impact [...]
EU officials mulling post-Brexit financial reforms May 15, 2019 European officials have reportedly drawn up draft plans for a major raft of financial regulations post-Brexit. Read more: Brexit party dominates EU election vote poll as Tories lag behind According to Reuters, the European Commission has composed a 12-page document setting out the body’s plans to speed up banking measures in what looks set to [...]
City Moves for 15 May – Who’s switching jobs at BNP Paribas Asset Management, State Street and Nexus Group? May 15, 2019 Today's City Moves includes BNP Paribas Asset Management, State Street and Nexus Group. BNP Paribas Asset Management BNP Paribas Asset Management (BNPP AM) has announced the appointment of Rob Gambi as global head of investments, based in London. He will report to chief executive Frederic Janbon and will be a member of BNPP AM’s executive [...]
One in three female lawyers sexually harassed at work, comprehensive survey shows May 15, 2019 A comprehensive report launched today by the International Bar Association has unveiled the scale of sexual harassment and bullying within the legal sector. The survey of nearly 7,000 lawyers worldwide, found one third of female lawyers had been sexually harassed and one-in-two had been bullied. Read more: Lloyd's of London will ban drunk staff from [...]
MPs tell government to intervene if banks don’t do enough to halt branch closures May 13, 2019 The government or the financial watchdog should be ready to intervene if banks do not do enough to halt the closure of local branches, MPs have suggested. In its report into financial inclusion, the influential Treasury Select Committee (TSC) said the closure of local branches were more likely to affect older and more vulnerable customers and [...]