The City’s first Pepys Day commemorates a great Londoner and a resilient capital September 2, 2024 Samuel Pepys fundamentally shaped how we think about the City, let's celebrate him this Pepys day, writes Lord Mayor Michael Mainelli.
Profit slumps by over £400m at Lloyds-owned car leasing firm August 27, 2024 Profit at the car leasing company owned by Lloyds Bank slumped by more than £400m during 2023, it has been revealed. Lex Autolease, which is headquartered in London, has posted a pre-tax profit of £124.4m for its latest financial year, according to newly-filed accounts with Companies House. The new total comes after the business posted [...]
London insurance sector braces for Atlantic hurricane season August 21, 2024 As the Atlantic hurricane season reaches its peak, the London insurance market is preparing for the fallout.
Watkin Jones: Property developer lowers profit guidance warning of ‘slow’ outlook August 21, 2024 Property developer Watkin Jones has warned investors that a “slower than expected” summer market and “uncertainty” over the pace of interest rate cuts will weigh on its full year results, as it lowered profit guidance. In a trading update, the Aim-listed firm, which in its half-year results in May returned to profit thanks to a [...]
Revolut achieves $45bn valuation in employee share sale August 16, 2024 Revolut has cemented its position as Europe's most valuable private technology company after securing a $45bn (£34.9bn) valuation in a share sale by employees.
Meet London’s top insurtech companies August 14, 2024 In the heart of London, where tradition meets innovation, insurtech is turning the City's financial pulse into a dynamic playground. Meet the City-based companies that were named top insurtechs, globally.
Peloton loses almost £100m as UK arm sheds hundreds of jobs August 12, 2024 The UK arm of Peloton lost almost £100m and shed hundreds of jobs, it has been revealed. The London-headquartered division has posted a pre-tax loss of £98.1m for the 12 months to June 30, 2023, according to newly-filed accounts with Companies House. Peloton previously posted a pre-tax loss of £173.7m for its prior financial year. [...]
Total Fitness is turning its back on the South after recovering from the brink of collapse August 10, 2024 Gym chain Total Fitness is already a well-established name in the North of England with 15 “superclubs” peppered across the region. But despite her ambitious goal of quadrupling the Cheshire-based company’s portfolio in the next five years, CEO Sophie Lawler has zero interest in expanding into the South. It’s a bold move as, according to [...]
FTSE 100: London markets pare losses and US stocks surge after jobless figures August 8, 2024 London markets dropped on Thursday morning, unwinding much of their gains made on Wednesday following a massive sell-off earlier in the week triggered by fears of a US recession.
Beazley: Shares hit all-time high after insurer doubles profit and improves guidance August 8, 2024 Shares in Beazley have hit an all-time high after the Lloyd's of London insurer more than doubled its profit in the first half of 2024 and improved its outlook for a key measure of full-year profitability.