Cazoo cash: Newspaper tycoon Lord Rothermere moves closer to taking Daily Mail private August 27, 2021 The successful listing of used car business Cazoo means that newspaper tycoon Lord Rothermere moves a step closer to taking the company behind the Daily Mail, Mail on Sunday and Metro newspapers private. DMGT owned a stake in Cazoo and Lord Rothermere had said if the company could join the New York Stock Exchange successfully, [...]
Under the bonnet: Why a financial MOT should be on your to-do list August 23, 2021 Just like your car, your finances need keeping an eye on to ensure everything is running smoothly. Even if you have a solid financial plan in place, it still needs to be updated from time to time to ensure it reflects any life changes. Clients of Brewin Dolphin’s financial planning service have their arrangements reviewed [...]
PwC partner accused of leaking in £63m lawsuit resigns – CityAM : CityAM August 18, 2021 Ian Green, the former PwC head of restructuring, left the firm on 30 June according to Companies House filings, following accusations by a PwC client that he leaked confidential information about it. Aquis Exchange-listed Watchstone, an insurance and technology group, have said that Green disclosed its information to a banker at Greenhill & Co in [...]
The latest British unicorn? Insurtech Marshmallow is waiting in the wings August 11, 2021 Marshmallow Financial Services is soon to announce its latest fundraising round that will bring its valuation to $1.2bn (£869m), joining the ranks of other recent UK unicorns Starling Bank, Gousto and Zego. Its latest cash injections is fuelled largely by existing investors, according to reports in Sky News citing “city insiders” with knowledge of the [...]
Cardano surges with smart contract upgrade imminent August 11, 2021 Crypto at a Glance The cryptocurrency markets continue to climb today, with the Bitcoin price up another 2 per cent over the past 24 hours to more than $46,300 at time of writing. Ethereum is also up around 4 per cent to more than $3,200. Can they keep the upward momentum today? The market’s resurgence [...]
Admiral posts strong half-year results as pre-tax profit jumps 76 per cent August 11, 2021 Admiral has posted strong half-year results for the period up to the 30 June 2021 as their decision to adjust pricing on pandemic-related claims looks to have paid off. The insurance company saw its pre-tax profit jump by 76 per cent, from £274.4m this time last year to £482.2m for the six months to 30 [...]
Daily Mail owner to sell insurance business for £1.4bn, clearing the way for take-private bid August 5, 2021 Daily Mail owner DMGT has today confirmed that it will sell its risk insurance business RMS to Moody’s for £1.4bn, the first step in a bid to take the group private. Last month it was revealed that the Rothermere family was considering a bid for a slimmed-down version of DMGT. An £810m offer is contingent [...]
Insurer Direct Line’s first-half profits rise as pandemic restrictions ease August 3, 2021 Insurer Direct Line has today reported a rise in its earnings for the first half of the year, despite a difficult car insurance market, which its home businesses offset. The company reported an operating profit of just under £370m for the six months ended June 30, an increase from £265m a year earlier. Direct Line [...]
German insurance watchdog forecasts €5.5bn worth of flood damage claims July 28, 2021 German insurance industry association GDV has forecast around €5.5bn worth of claims due to extreme flooding earlier this month. The insurance watchdog has upped its estimates from between €4bn and €5bn last week. Germany’s biggest insurer Allianz issued its first damages estimate of more than €500m yesterday from the storm known as storm Bernd. The [...]
The £46,250 Toyota Corolla: cult-classic AE86 smashes auction record July 27, 2021 A one-owner 1987 Toyota Corolla GT has sold for a staggering £46,250 at auction. But what makes this AE86 model so sought-after?