Scepticism over Kremlin’s pledges weigh on London indexes March 30, 2022 A push back from western nations on the validity of Russia pledging to roll back its assault on Ukraine drove a mixed day for London’s top indexes today. The capital’s premier FTSE 100 index climbed 0.55 per cent to 7,578.75 points, while the domestically-focused mid-cap FTSE 250 index, dropped 1.02 per cent to 21,272.47 points. [...]
Lloyd’s of London boss hospitalised and CFO temporarily takes the helm March 28, 2022 Lloyd’s of London boss John Neal has been hospitalised following a bike accident over the weekend. Neal is expected to make a full recovery, Lloyd’s said in a statement today, after the accident which occurred on Saturday. The commercial insurance market will be helmed by chief operating officer and chief financial officer Burkhard Keese and [...]
Exclusive: Cynergy Bank’s new London property director is former head of Lloyds’ capital team March 28, 2022 The former head of Lloyds’ property team in the capital has been unveiled as the new London director of Cynergy Bank. Mitesh Hathi will head the bank’s expanded team of 19, with more than £1.1bn on its balance sheet. They will will focus on small and medium sized firms in the capitals’s £2m-20m bracket, in [...]
City A.M. Awards 2022: Bank of the Year March 25, 2022 The City is back, and so are the City A.M. Awards, recognising the best of the Square Mile, Canary Wharf and London’s business community – which has shown shown resilience, innovation and adaptability like never before over the past year. We’re delighted to host what will be a wonderful celebration of the capital’s rebound, but [...]
Lloyds of London says Ukraine crisis will be ‘major claim’ in 2022 after returning to profitability March 24, 2022 Lloyds of London has warned the ongoing conflict in Ukraine will be a “major claim” this year, after posting a return to profitability on the back its best results in six years. The London insurer said it had returned to profitability after posting overall profits of £2.3bn for the full year 2021, compared to a [...]
Lloyds to close 60 UK bank branches due to rise of online banking March 23, 2022 Lloyds Banking Group has said it is shutting 60 bank branches across the UK, due to customers switching to online banking. The banking conglomerate said it will close 24 Lloyds Bank branches, 19 Bank of Scotland branches, and 17 Halifax branches, on high streets across Britain, in response to record levels of online banking usage. [...]
Financials rally boosts London’s top indexes March 22, 2022 A rally among financial stocks boosted London’s top indexes this morning as the FTSE 100 closes in on its pre-Russian invasion of Ukraine high. The capital’s premier FTSE 100 index closed 0.46 per cent higher at 7,476.72 points, while the domestically-focused FTSE 250 index, which is more aligned with the health of the UK economy, [...]
What are the top FTSE 100 stocks to keep an eye on as the index begins to recover? March 22, 2022 Two years ago today, the FTSE 100 index closed at 5,190 points, after its 32% covid-19 pandemic-induced crash since 17 January 2020. But even as the Russia-Ukraine war rages, the UK’s premier index is back to 7,405 points, only slightly down from its 7,611 February high. And with oil, inflation, and interest rates rising, value investors are now [...]
Lloyds of London hands out biggest fine ever following years’ long bullying campaign March 16, 2022 City of London insurance market Lloyds of London today issued its largest fine ever against syndicate member Atrium, after the underwriting firm failed to “adequately protect” a junior employee once it became aware of a “systematic campaign of bullying”. In a notice, Lloyds of London said it had fined Atrium Underwriting a record £1.05m for [...]
Editorial: No sympathy for the sanctioned, but seizures are dangerous path to tread March 14, 2022 It is not easy to feel much sympathy for Oleg Deripaska, whose mansion on Belgrave Square was squatted by a group of protestors yesterday, ostensibly to reclaim it as a home for Ukrainian refugees. It is notably more than the Government itself has managed so far with regards to working out where and how the [...]