Four day week? Sure – but you better be in on a Monday, say bosses March 27, 2023 EMPLOYERS are more open to the idea of a shorter working week than many think – but you can forget about working from home if you want Friday off. That’s the conclusion of a survey of more than 10,000 employees and bosses released today by Hays, the recruitment firm. A third of employers are more [...]
Stop being TWaTs! Lloyd’s of London chief says City must drop ‘Tuesday, Wednesday and Thursday world’ March 23, 2023 Lloyd’s of London chief John Neal has called for a move away from the “Tuesday, Wednesday, Thursday world” in arguing there will always be times that people “have to be in every day of the week”. Speaking to City A.M., Neal called for a shift away from the “two days a week or three days [...]
Lloyd’s of London cheers strong results despite paper loss in 2022 March 23, 2023 The centuries-old insurance marketplace Lloyd’s of London reported a significant uptick in premiums last year, though mark-to-mark accountancy rules saw it book a pre-tax £800m loss in 2022. Lloyd’s expects that loss to reverse in the coming years as interest rates boost investments and assets reach maturity. The Lime Street icon reported underwriting profits of [...]
Gold price tops $2,000 and Bitcoin gets a bump as investors scramble for safety after Credit Suisse rescue March 20, 2023 Gold prices have climbed near record highs and topped $2000 for the first time in over a year this morning as investors scramble for steady ground following UBS’s rescue of Swiss rival Credit Suisse.
FTSE 100 live: London index joins European markets to close in the red as jitters over Credit Suisse contagion continue March 17, 2023 A dramatic week for European markets has ended on a low, with a number of interventions from global banks failing to calm the nerves of jittery investors. London’s FTSE 100 closed firmly in the red despite seeing gains in early trading on Friday. It followed a group of US banking giants injecting 30 billion US [...]
Recession off the cards, getting over 50s ‘back to work’, strikes and banks take stock – the five best read stories on City A.M. this week March 17, 2023 It was the week UK Chancellor Jeremy Hunt laid out his first Spring Budget, but as pension savers and taxpayers looked on, fears of a recession appeared to fade, although the sagas of banks Silicon Valley Bank, Credit Suisse and on-going strikes raged on; here are the stories readers were flocking to on City A.M. [...]
FTSE 100 close: Credit Suisse share price shoots up 30 per cent as HSBC and Lloyds climb in London March 16, 2023 London’s FTSE 100 today partly clawed back yesterday’s losses that saw it clock its worst day in over a year as the index was ensnared by global markets sweating over the health of the European banking system. The capital’s premier index jumped 0.89 per cent to 7,410.04 points, while the domestically-focused mid-cap FTSE 250 index, [...]
World’s top insurers to face aircraft leasers in High Court ‘mega trial’ over planes seized by Russia March 15, 2023 Insurance giants Lloyd’s, AIG and Fidelis are set to face a ‘mega trial’ in London’s High Court over their refusal to pay out billions in insurance claims to aircraft leasers that had their planes seized by President Vladimir Putin. A High Court judge has ruled claims brought forward by an array of the world’s biggest [...]
FTSE 100 close: Global banking rout weighs on index as budget does little to lift sentiment March 15, 2023 London’s FTSE 100 slumped this afternoon as the banking sector faced a major sell-off following concerns over the future of Credit Suisse. The capital’s premier index closed 3.83 per cent lower at 7,344.45 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, shed 2.63 per [...]
FTSE 100 close: London index claws back Silicon Valley Bank induced losses as HSBC soars March 14, 2023 London’s FTSE 100 surged today, arresting the sharp declines notched yesterday as it was caught up in a global market sell off driven by investors’ fretting over the impact of Silicon Valley Bank (SVB) collapsing. The capital’s premier index gained 1.17 per cent to close at 7,637.12 points, while the domestically-focused mid-cap FTSE 250 index, [...]