One Undershaft: Plans to build the City’s tallest skyscraper and London’s second highest building revealed December 7, 2015 Plans to build the City’s tallest skyscraper and London's second highest building – rivalled only by the Shard – have been unveiled today. Singapore-based developers Aroland Holdings are seeking planning permission to build a 73 storey tower at One Undershaft in the City, between the Leadenhall Building and 30 St Mary’s Axe. Standing 309.6 metres [...]
Storm Desmond flooding: As claims creep in, insurers assure consumers they are already ready for winter’s bad weather December 6, 2015 The Association of British Insurers (ABI) reassured consumers on Saturday that the industry had been braced for bad weather. “Insurers expect bad weather during the winter and will be geared up to help customers who have suffered flood and storm damage recover as quickly as possible,” remarked Malcolm Tarling, a spokesperson for the ABI, in a [...]
Bank of England approves 19 insurers’ solvency II models for capital ratios ahead of EU 2016 rules, including Aviva, Prudential and Lloyds of London December 6, 2015 Several of Britain's biggest insurance firms, including Aviva, Prudential and Lloyds of London have been given the thumbs up by the Bank of England for new rules governing how much capital they should hold. The Solvency II capital rules which come into force across the EU from the start of next year, mean insurers are able [...]
Uber’s $62.5bn valuation means it’s worth more than BT, Prudential and Barclays – and 86 other FTSE 100 constituents December 4, 2015 Uber is reported to have filed paperwork outlining plans to raise as much as $2.1bn (£1.4bn) in its latest funding round. Were the company to complete that funding round (and according to the Bloomberg report, the wheels are very much in motion for that to happen – with Tiger Global Management and T Rowe Price both [...]
Profits drop by 26 per cent for British packaging company DS Smith, causing share price to tumble too December 3, 2015 Profits have unraveled at DS Smith, as the packaging company today announced a fall in profits before tax of 26 per cent on a reported basis to £91m for the six months ended 31 October 2015. Revenue at the company dropped one per cent on a reported basis to £1.95bn, although this had increased by [...]
CVC set to buy up almost half of the RAC December 2, 2015 CVC CAPITAL Partners, the largest shareholder in Formula One, will reportedly announce the purchase of almost 50 per cent of breakdown company RAC later today. CVC will purchase the stake from rival private equity group Carlyle which bought the company in 2011, it was reported late last night. Singaporean sovereign wealth fund GIC, will retain [...]
Insurance giant Axa planning to sell off wealth management division in UK November 22, 2015 Axa has brought in advisors to help it sell off some of its UK businesses, including parts of their wealth management division, the Sunday Times reported today. Sources told the Sunday newspaper that the insurer, who is headquartered in France, had grown weary of the UK’s regulatory environment and had called in bankers at Barclays and [...]
Eddie Jones: New England head coach rules out overseas-based players rule change and addresses Chris Robshaw captaincy concerns November 20, 2015 New England head coach Eddie Jones has warned overseas-based English players they will not be offered a return into the national team under his leadership. When outlining his plans for the Red Rose, the Australian backed the RFU's controversial policy of only selecting players contracted to an Aviva Premiership club – a stance called into [...]
City Moves for 20 November 2015 | Who’s switching jobs November 19, 2015 COLLIERS INTERNATIONAL The commercial real estate services firm has appointed Shane O’Reilly as associate director in its investment property management team. He joins after 10 years at King Sturge/JLL, where his mandates included Crown Estate, Urban Regional Portfolio, and Ropemaker Properties. DEUTSCHE ASSET AND WEALTH MANAGEMENT Matthew Lamb has been appointed co-head of alternatives coverage [...]
Former Aviva Investors analyst Mothahir Miah banned and fined £139,000 by FCA for cherry picking hedge fund trades November 17, 2015 The Financial Conduct Authority (FCA) has hit a former investment analyst at Aviva Investors with a £139,000 fine and banned him from taking part in any regulated activity in the financial services industry. Mothahir Miah deliberately delayed booking and placing the trades of hedge-funds by several hours, in order to allocate those which had benefitted from [...]