Pride in London 2017: Barclays leads host of Britain’s biggest firms in support of LGBT+ event June 23, 2017 City stalwarts and some of the UK’s largest companies have rallied in support of Pride in London 2017. A raft of the great and the good from the corporate world have stepped up to sponsor the event. Barclays is one of two headline sponsors together with the Mayor of London office. This year’s event takes [...]
Manx Telecom share price rises after revealing “solid” annual figures March 15, 2017 Manx Telecom, which operates the Isle of Man's telecoms network, today revealed it is generating annual sales equivalent to almost £1,000 per person living on the island. Shares rose one per cent in the wake of the news. The figures Revenue rose by 1.5 per cent to £81m, with underlying earnings of £28m, the same [...]
City office rents propped up in uncertain times by low supply March 15, 2017 Rents in the City's offices are being propped up by low supply, with only three buildings set to be completed in the capital's financial quarter this year. This year 1 Angel Court, 45 Cannon Street and the Scalpel will be finished, and Chris Vydra, City leasing agent for CBRE, said that the dearth of new [...]
Simply Business bought by Travelers in $490m deal to accelerate US expansion March 13, 2017 Simply Business has today been swallowed up by US insurance giant Travelers in a $490m (£402m) deal that will deliver a bumper payout to every one of the UK broker's 400 employees. The firm, which boasts 425,000 micro-business customers across 1,000 business classes in Britain, was bought by private equity fund Aquiline last year as part of [...]
HSBC chairman search: Former man from the Pru Mark Tucker will replace Douglas Flint March 12, 2017 Mark Tucker, chief executive and president of AIA and former boss of Prudential, has been confirmed as chairman of HSBC, marking the first time the bank has appointed an external chairman. Tucker will receive an annual fee of £1.5m and a one-time relocation benefit of £300,000 for moving from Hong Kong to London. He will take up [...]
The City boss running around for retirees: Clive Bannister on being a Phoenix from the ashes and providing a happy ending for pensioners February 27, 2017 Phoenix Group’s chief executive wasn’t looking forward to his morning commitments on 28 March 2014. “I was due to make a presentation to a rather hostile audience,” says Clive Bannister, the head of the FTSE 250 closed-book life insurer. “They didn’t want to think very kindly about Mr Bannister.” And Bannister’s day was about to [...]
If you want a job at UK’s best financial services company to work for, you’ll have to move to Wolverhampton… February 26, 2017 Want a job at the firm named the UK's best financial services company to work for? You'll have to move to the Midlands. Yep – a Wolverhampton company has clinched the sector's top spot in a ranking of the UK's best employers. The Sunday Times' 100 Best Companies to Work for 2017 named Charter Court Financial [...]
Standard Life shares muted despite beating expectations with nine per cent profit growth February 24, 2017 Standard Life's share price was somewhat muted this morning despite beating expectations with a nine per cent increase in profits. Shares in the firm initially jumped before falling by 3.5 per cent by midday. The figures Fee based revenue grew by five per cent to £1.7bn and assets under management swelled – up 16 per cent to £357bn. [...]
No more deals: Axa to decline future acquisitions after blasting through the €100bn barrier February 23, 2017 France's largest insurer Axa is big enough and is not eyeing any future transactions, especially as "Frexit is a probability", its chief executive said today. Passing the €100bn (£84bn) revenue barrier for the first time, Axa revealed in its annual results underlying growth of in earnings of four per cent to €5.7bn. Read more: Axa UK's chief [...]
Drones will transform our cities – and we’re totally unprepared for the consequences February 21, 2017 Drones are everywhere – whether that’s delivering Domino’s pizzas in New Zealand or dancing behind Lady Gaga at the US Super Bowl. With the news that Amazon’s new drone delivery plan includes “package parachutes”, considering how drones will impact our cities in the future is an issue that London must address now. No longer limited [...]