Split between Bank of England governor Mark Carney and chief economist Andy Haldane puts August hike back on table June 21, 2018 The Bank of England’s chief economist broke ranks with the governor for the first time in seven years yesterday as he called for higher interest rates, putting a hike in August back in play. Andy Haldane was one of three hawks on the nine-member monetary policy committee (MPC) to vote to increase bank rate from [...]
Uber to offer drivers medical cover and maternity pay as it gears up for court hearing on its future in London May 23, 2018 Uber is introducing a number of protections for its European drivers including sickness, and maternity and paternity payments, as it gears up for a crunch decision on its future in London. The company lost its licence to operate in the capital last September with Transport for London (TfL) ruling it not fit and proper to [...]
BNP Paribas Asset Management funds arm has ditched tobacco investments across all its active strategies March 1, 2018 BNP Paribas Asset Management has decided to ditch tobacco investments across all of its actively managed vehicles. The ban, which was already in place across BNP’s sustainable funds, will join the exclusions of “controversial weapons” and asbestos. The investment management business, part of major bank BNP Paribas, had €569bn in assets under management at the [...]
Howard Shore, Shore Capital founder, leads $40m investment in new Israeli co-working business Mixer February 26, 2018 Shared workspace business Mixer has just nabbed $40m (£28.6m) of funding in an investment round led by Howard Shore, the founder of investment group Shore Capital. Mixer, based in Israel, is hoping to expand into Europe and the US and has a new site planned in Berlin. Shore will now become chairman of the business, [...]
Standard Life Aberdeen sells insurance arm for £3.2bn February 23, 2018 Standard Life Aberdeen has sold its insurance arm to specialist insurer Phoenix in a deal worth £3.24bn. Phoenix will pay £2bn in cash and issue Standard Life Aberdeen with a 19.99 per cent shareholding. A dividend of £300m will also be paid to the FTSE 100 giant upon deal completion. The deal sees most of [...]
Standard Life Aberdeen share price jumps after selling insurance arm for £3.2bn February 23, 2018 Standard Life Aberdeen has sold its insurance arm to specialist insurer Phoenix in a deal worth £3.24bn. Phoenix will pay £2.28bn of cash and issue Standard Life Aberdeen with a 19.99 per cent shareholding. The deal sees most of Standard Life’s legacy insurance business handed over to Phoenix, allowing the merged company to focus on [...]
Co-operative Bank appoints Bob Dench as new chair to try to steer turnaround February 2, 2018 The Co-operative Bank has poached Bob Dench from Paragon Banking Group to be its new chairman as the struggling lender tries to turn around its business, it announced today. Dench will join the board as chair on 14 March, after Dennis Holt, who has been chair since October 2014, steps down to retire in May. [...]
These are the least stressed workers in the UK, according to Axa November 15, 2017 Myth-busting research released today has found that self-employed people are the least stressed workers in the country. Research by Axa Insurance has found that those working for themselves have a better work-life balance and more improved well being than others. The research pinpointed other myths, including that self-employment is more precarious, less well-paid, and is [...]
David Davis sets out post-Brexit vision for financial services November 14, 2017 David Davis has committed to protecting talent within financial services after Brexit, as he gives his clearest indication of the government’s thinking for the sector yet. Speaking at UBS this morning, the Brexit secretary set out his vision of the City’s future relationship with the EU after March 2019, based on three key planks: protecting [...]
Virtual doctors and video appointments: Get ready for the rise of digital healthcare November 10, 2017 Healthcare matters, fundamentally, to everyone across the globe. Understandably, it is generally a risk-averse sector – lives are at stake. It is easy to see why this area is relatively resistant to change and innovation. This is a challenge I have been countering through the application of digital healthcare. Read more: If tech titans ruled [...]