FTSE 100 rebounds as easyJet nosedives September 13, 2021 London’s FTSE 100 index has climbed by 0.64 per cent today, up 45 points higher than the previous close at 7,074.07, after being boosted by financial stocks. Banking giants saw strong gains today with Lloyd’s Group up 2.6 per cent, Standard Chartered Bank lifted by 2.4 per cent and Barclays PLC climbing 2.2 per cent. Meanwhile, investment [...]
Lloyd’s chief: City firms owe it to younger employees to get back to office September 10, 2021 The City of London has a duty to get employees back to the office so that younger staff don’t miss out on career development and learning from their seniors, the Lloyd’s of London chief executive has said. John Neal, who heads up the insurance giant, called for more people to return to the Square Mile [...]
Lloyd’s of London reports £1.4bn profit in first half of 2021 September 9, 2021 Lloyd’s of London returned to profit in the first half of 2021, with the help of a stronger underwriting performance, the insurer announced this morning. The commercial insurance market’s results indicate its recovery after it incurred significant losses during the pandemic last year. In the same period a year ago Lloyd’s suffered a total loss [...]
Hybrid working: Out of office… forever? September 8, 2021 During lockdowns, many started working from home for the first time. Now, 91% don’t want to go back to the office full-time. With hybrid models of work being adopted by many, Christian Koch talks to leading CAs about the chances of a new workplace revolution… This article first appeared in ICAS’ CA magazine. What does [...]
City Moves: Who’s switching jobs in the Square Mile this week? September 8, 2021 City A.M.’s Millie Turner provides a roundup of the most important hires and job moves across the City, every Wednesday afternoon. Email citymoves@cityam.com to be featured. Exclusive: Kin Fund Services poaches secretarial lead from Flutter Alternative investment fund manager and fund administrator Kin Fund Services, part of Kin Group, has poached Deirdre Quinn from FTSE 100’s Flutter Entertainment, City A.M. can reveal. [...]
Lloyds sued by customers sold mortgages linked to house prices September 6, 2021 Lloyds Banking Group is being sued by 150 homeowners who were sold mortgages tied to house price appreciation. The case has been brought against the Bank of Scotland, now part of Lloyds, in the High Court. It pertains to shared appreciation mortgages which were sold to thousands of customers in the late 1990s, the product [...]
London business confidence increased in August August 31, 2021 Business confidence in London increased four points during August to 41 per cent, as the city looks to recover from the pandemic. Companies in the city described higher confidence in their own business prospects month-on-month, up 14 points at 43 per cent, according to the latest business barometer from Lloyds Bank Commercial Banking. Businesses’ optimism [...]
Lloyd’s losses set to swell to £2bn as surge in business interruption claims squeezes bottom line August 24, 2021 Insurance market Lloyd’s is set to swing to a £2bn loss, triggered by a surge in claims on business interruption policies, according to fresh analysis. Research from Insurance DataLab shows the London market nursed losses that were £1.6bn higher than 2019’s figure last year. Lloyd’s abysmal performance last year was driven by a poor performance [...]
Lloyds hires Barclays exec to lead debt capital markets division August 23, 2021 Barclays exec Miray Muminoglu has been appointed as the new head of Lloyds Bank’s financial institutions debt capital markets and securitised products group. Muminoglu, who currently works as managing director, head of term funding within Barclays’ group treasury unit, will join Lloyds Bank in London this November, reported Financial News. Muminoglu has over 30 years [...]
Extinction Rebellion: City of London to be next climate campaign target August 19, 2021 Environmental activists have said they will begin a fresh campaign next week in the heart of the capital’s financial district. The fortnight-long campaign targets the City of London, which Extinction Rebellion activists blame for stoking climate change with fossil fuel investment chains. Extinction Rebellion (XR) has regularly staged demonstrations across the UK – targeting banks [...]