Axa raises profit target following $15bn XL deal November 28, 2018 Europe's second-largest insurer Axa said it expects profitability to speed up in the next two years thanks to business brought in by XL which it acquired in September. French-headquartered Axa said today it expected adjusted return on equity (ROE) to increase between 14 per cent and 16 per cent annually over the coming two years, [...]
City skyscraper Twentytwo set to lure in another insurer November 20, 2018 The City's tallest skyscraper is expected to land yet another major insurance tenant in the coming weeks, with news this afternoon that broker THB Group is in talks to rent 35,000 square feet of space. THB Group is set to become the third insurer to move into 22 Bishopsgate, known as Twentytwo, once construction is completed [...]
Addison Lee launches self-driving taxi trials in Canary Wharf November 7, 2018 Private hire firm Addison Lee has begun trialling self-driving car technology, created by UK startup Oxbotica, on the streets of London. Driving around the skyscrapers of Canary Wharf, Addison Lee's manned cars are creating a three-dimensional street map of the city in order to create the backdrop for future driverless cars. Organised together with Canary [...]
Uber launches new UK safety features as employment appeal looms October 17, 2018 Ride-hailing firm Uber has today launched a slate of new safety features in the UK and 23 other European countries, as it heads towards a court of appeal hearing regarding workers' rights at the end of the month. The Uber app will now house a safety centre from which passengers and drivers can share their trip details [...]
Insurer Beazley becomes second tenant in City skyscraper Twentytwo October 10, 2018 The City's tallest skyscraper has landed its second major tenant – specialist insurer Beazley – in a sign of the bumper year for insurance take-up in the Square Mile. City A.M. can reveal the FTSE 250 insurer is set to take 50,000 square feet (sq ft) over two floors at 22 Bishopsgate when construction is finished [...]
M&C Saatchi: WPP needs ‘radical surgery’ for post-Sorrell future September 21, 2018 M&C Saatchi's boss has warned his firm is ready to swoop on rival ad agency WPP’s territory as Sir Martin Sorrell’s successor is busy performing “radical surgery” on the business. David Kershaw hailed surging earnings at M&C Saatchi, seeing revenue almost double to £215.4m after new accounting rules changed the way revenue from customer contracts [...]
M&C Saatchi: WPP needs ‘radical surgery’ for post-Sorrell future September 21, 2018 M&C Saatchi's boss has warned his firm is ready to swoop on rival ad agency WPP’s territory as Sir Martin Sorrell’s successor is busy performing “radical surgery” on the business. David Kershaw hailed surging earnings at M&C Saatchi, seeing revenue almost double to £215.4m after new accounting rules changed the way revenue from customer contracts [...]
Royal Mail chair steps down because of Countrywide commitments September 19, 2018 The chairman of Royal Mail, Peter Long, announced today that he is stepping down with immediate effect. Royal Mail said he had taken the decision after his other commitments “increased substantially” this year, including moving from non-executive to executive chairman at troubled estate agents Countrywide. Long joined the board of Royal Mail in June 2015 [...]
Royal Mail chair steps down because of Countrywide commitments September 19, 2018 The chairman of Royal Mail, Peter Long, announced today that he is stepping down with immediate effect. Royal Mail said he had taken the decision after his other commitments “increased substantially” this year, including moving from non-executive to executive chairman at troubled estate agents Countrywide. Long joined the board of Royal Mail in June 2015 [...]
Phoenix expects to beat cash targets as £3.2bn Standard Life Assurance acquisition nears close August 23, 2018 Insurer Phoenix Group said today it expects to beat its target for cash generation this year as it announced its half-year results. Phoenix, which focuses on acquiring life insurance units that are closed for new business, said its acquisition of Standard Life Assurance for £3.2bn was progressing well with the deal expected to close on [...]