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?
Greedy haulage chief who ran ‘lawless’ business jailed for 15 years June 29, 2021 A greedy haulage boss who ran an “entirely lawless” business has been jailed for 15 years, after two men died when their car was hit by a lorry with defective brakes that would have cost just £200 to repair. Michael Holgate, 39, was convicted of the manslaughter through gross negligence of Nigel Eley and John-Paul [...]
RAC: UK roads set for a busy summer as drivers eye domestic holidays June 14, 2021 Over four-in-10 drivers have already booked up their UK-based holiday this summer, according to a survey by RAC. Breakdown and car insurer RAC found that domestic holidays could be even more popular if Covid-19 restrictions prevent foreign travel. The survey, which polled 2,100 drivers, saw 13 per cent say they hoped to hop on an [...]
The next trends in technology June 11, 2021 In this article Juan Enriquez, leading authority on life sciences and future technology, explains the next trends in technology. Juan Enriquez will join the first edition of WOBI Management Week (June 28 – July 1, 2021), a 4-day digital event with world class business thought leaders that will address the latest trends and ideas in [...]
Former Volkswagen and Audi bosses to pay millions in damages over ‘dieselgate’ June 9, 2021 The former bosses of Volkswagen and Audi will pay millions in compensation related to their roles in the “dieselgate scandal”, the German car giant revealed today. The payments will form part of a €288m (£248.5m) deal, of which €270m will come from directors’ and officers’ liability (D&O) insurances. Volkswagen first said that it would seek [...]
Daily Mail group revenue plunges £95m but investments offset the loss May 27, 2021 The group behind the Daily Mail has seen revenues tumble 12 per cent over the past six months, the newspaper group said this morning, but its investments may have offset the loss. The newspaper group raked in nearly £100m less in the six months to 31 March, earning revenue of £547m, down from £642m in [...]
UK tech industry grows tenfold in last decade as London leads Europe May 19, 2021 The UK tech industry has expanded tenfold over the last 10 years as London continues to close the gap on Silicon Valley. Between 2010 and 2020 the number of British unicorns — private tech firms valued at more than $1bn — grew from eight to 81, while the number of companies nearing unicorn status also [...]