Banks and housebuilders bear brunt of market chaos September 29, 2022 Wild swings in UK debt markets and concern over borrowers’ capacity to pay costlier mortgages have whacked London-listed housebuilders and banks this week. Britain’s biggest property developers have been among the hardest hit listed companies during this week’s market sell-off. FTSE 100-listed construction firms Taylor Wimpey and Barratt Developments have shed more than 20 per [...]
Binance unveils global advisory board, chaired by former US Senator September 22, 2022 Binance has created a new global advisory board (GAB), comprised of experts in public policy, finance, economics, and corporate governance.
London’s FTSE 100 edges higher ahead of central bank rate announcements September 20, 2022 London’s FTSE 100 slid yesterday, driven by traders bracing for a big week of central bank announcements. The capital’s premier index dropped 0.64 per cent to reach 7,190.16 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, slumped 1.48 to 18,519.69 points. The world’s biggest [...]
Lloyd’s of London closes underwriting room to remember Queen Elizabeth II September 15, 2022 Lloyd’s of London today closed its underwriting room to hold a memorial to Queen Elizabeth II and mark the accession of King Charles III. The centuries-old insurance marketplace closed the underwriting room in its iconic City headquarters, as it held a ceremony to remember Her Majesty and express support for the new King. The ceremony [...]
London’s FTSE 100 bumped higher by investors pouring into UK banks September 15, 2022 London’s FTSE 100 bounced higher today driven by inventors pouring into banks on expectations of more interest rate rises from the Bank of England. The capital’s premier index rose 0.07 per cent to 7,282.07 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, climbed 0.2 [...]
Insurance lobby pushes back against EU’s ESG rules September 13, 2022 Insurance sector lobby group Insurance Europe has called on the EU to prioritize setting climate standards over social ones, in putting forward its ESG taxonomy. In a response to an EU consultation, Insurance Europe called on the bloc to hold back from setting “overly prescriptive” ESG standards, particularly in regards to human rights, as [...]
Lloyd’s boss: City has ‘big few months ahead’ to ensure Square Mile vitality September 8, 2022 Lloyd’s of London chief John Neal reckons the City has a “big few months ahead” to ensure the Square Mile retains its pre-pandemic vitality. Speaking to City A.M. this morning after a positive set of half-year results for the insurance marketplace, Neal said that though he recognises that “flexibility is critical” he also said there [...]
Lloyd’s of London to give staff £2,500 helping hand ahead of winter September 8, 2022 Lloyd’s of London is to give staff earning less than £75,000 per year a £2,500 one-off payment later this month to help with surging inflation. Chief Executive John Neal told City A.M. this morning that it was set to be a “pretty rotten winter” and “as employers we’ve got an obligation to think, to care [...]
Lloyd’s of London says state-backed cyberattack policy is ‘responsible’ September 5, 2022 Lloyd’s of London has defended plans to stop providing insurance coverage for state-backed cyberattacks. In an interview with the Financial Times, Lloyd’s chief of markets Patrick Tiernan said the insurance marketplace is “being responsible” by taking a cautious approach. In a note last month, Lloyd’s explained that the potential for state-backed cyberattacks to spread could [...]
Andy Murray backed Castore scores £750m valuation September 4, 2022 Andy Murray backed clothing brand Castore has been valued £750m as the firm looks to compete with the likes of Nike and Adidas.