London’s economic growth drops to three-year low as UK loses steam – Lloyds Bank March 14, 2016 London's economic growth plummeted to it lowest since 2013 in February, a survey of businesses shows this morning. The regional purchasing managers’ index compiled by Lloyds Bank fell to a score of 52.2 for London. It is barely above the 50 level that indicates a region’s economy grew over the month and marks a steep [...]
Blockchain, the technology behind digital currency bitcoin, makes a splash in insurance to offer a solution to homeowners renting out part of their property March 10, 2016 SafeShare is making digital waves by launching the first blockchain-based insurance solution for the sharing economy on the market. The insurance startup, in partnership with Vrumi, is offering the product, which was created with Z/Yen Group and using open source timestamp service MetroGnomo, to homeowners. Sharing economy firm Vrumi allows homeowners with extra rooms to [...]
Charles Taylor share price up as professionals services and insurance company reveals profit growth for year ended December 2015 March 10, 2016 Share price in Charles Taylor was trading up today after the professional services company revealed that profits had climbed in its year ended December 2015. The firm, which provides a number of specialist insurance services, announced that profits before tax had grown to £12.8m, up 31.6 per cent from £9.7m the year before, while revenue had also increased to £143.4m, [...]
Societe Generale to cut 550 jobs over next five years March 9, 2016 Societe Generale is to cut 550 jobs over the next five years. The bank confirmed it is targeting 550 job reductions in the back offices of its French retail banking network, resulting in the closures of six out of 20 locations. The French bank said the plan would not rely on mandatory redundancies. The move is part [...]
In pictures: Rupert Murdoch marries Jerry Hall with Fleet Street wedding ceremony attended by Bob Geldof, Michael Caine, Andrew Lloyd Webber and other friends March 5, 2016 Media mogul Rupert Murdoch and actress Jerry Hall have held a ceremony to celebrate their marriage at a church near Fleet Street. Friends and family of the couple, including actor Michael Caine, musician Bob Geldof and artist Tracey Emin gathered at St Bride's Church – known as the "journalist's church" – in London. Read more: Can [...]
From Barclays to UBS and Lloyds: Here’s how much City banking interns earn March 4, 2016 If you’re planning to give up your university summer break, you may want to make sure you’re being adequately reimbursed – especially if you’re working long hours in one of London’s biggest banks. But asking about pay in an interview can be awkward, so where do you turn? Careers website Glassdoor.com has all the information you need [...]
City Moves for 3 March 2016 | Who’s switching jobs March 3, 2016 Watson Day Chartered surveyor firm Watson Day has appointed Richard Turnill as a partner. He joins partners Nick Threlfall, Ian Gutteridge, Julian Scannell and Kevin Dempster, who founded Watson Day in 1989. Richard qualified as a chartered surveyor in 2007, following a graduate position at Cluttons. In 2009 Richard joined Glenny’s south east London and [...]
Metro Bank investor interest deadline looms, as bank prepares for unconventional stock market float March 2, 2016 UK challenger Metro Bank is gearing up for its unconventional stock market float next week, looking to raise £400m from mostly institutional investors. On Monday Metro will have a so-called introduction to the market, meaning it will float without a public sale. In February Metro Bank cut the offer price in its fundraising round from £24 to £20 a share [...]
City Moves for 1 March 2016 | Who’s switching jobs March 1, 2016 Marketform Specialist Lloyd’s underwriter Marketform has announced that Darren Lednor, formerly the active underwriter of Ariel Syndicate 1910 and 6117, has joined as chief underwriting officer. Darren has been working in the insurance industry for 20 years across both the London and Bermuda markets and his experience encompasses underwriting, broking, risk and actuarial.Darren began his [...]
From pensions taxes to the EU referendum to the Elizabeth Line: Here’s what got you reading this week February 27, 2016 1. A pensions tax bombshell Former pensions minister Steve Webb wrote on Sunday that George Osborne is preparing to drop a "tax bombshell" on pensions savers by scrapping the tax-free lump sum. Find out what the chancellor may have planned here. 2. The EU referendum There was no escaping from it: wherever you looked, another politician [...]