Admiral foresees higher profit on motor claims February 7, 2020 UK insurer Admiral has predicted it will post higher-than-expected profit in its 2019 full-year results, after a change to personal injury insurance rules led to higher reserve releases and commission revenue. Admiral said in a trading update it expects to post a group profit before tax for 2019 in the range of £510m to £540m, [...]
Atlantic Crossing: What should be on the UK’s trade deal wishlist? February 2, 2020 Now that Brexit has become reality, the United Kingdom can use its newfound independence by negotiating an ambitious free trade agreement with the United States. Such an agreement can deepen commercial ties between two longtime allies, not only in goods trade but also in financial services and the movement of people. Outside the European Union, [...]
Uber ramps up British charm offensive with sweeping Nissan deal January 24, 2020 Nissan and Uber have signed a deal that will provide the ride-hailing giant’s drivers with a fleet of new electric cars, as Uber attempts to lay on the charm with on British authorities. The Japanese car maker will provide 2,000 new Nissan Leaf cars, made at the firm’s factory in Sunderland, to Uber at a [...]
Decline in German automotive production weighs on its economy January 13, 2020 Structural change and a sharp decline in automotive production in Germany is weighing on the economy, according to a report published today. The Munich-based ifo Institute estimated that the automotive industry workforce has shrunk by 1.3 per cent since the beginning of 2019, a much sharper decline than in the rest of the manufacturing industry [...]
How will losing its London licence affect Uber? January 8, 2020 Uber does not appear to have the controls necessary to run a wide-scale transport service and assure passengers and authorities of adequate safety standards. Despite London being one of the company’s top five markets in the world by revenue, the company has shown a marked reluctance to fully co-operate with transport authorities. Time and again, [...]
How can banks factor in climate change without damaging the economy? December 5, 2019 In a few weeks, we will get the results of the UK bank stress tests, which is a measure of our biggest banks’ ability to withstand the toughest of economic shocks. In 2021, these tests will include a scenario on climate change. The regulator wants to know that our biggest financial institutions really can weather [...]
Insurtech startup Cuvva secures £15m to move into long-term car insurance December 3, 2019 Insurtech startup Cuvva is to expand into long-term motor insurance, after raising £15m in a series A funding round. The move follows the recent appointment of former Lloyd’s of London chairman Bruce Carnegie-Brown as Cuvva’s chair. RTP Global, Breega and Digital Horizon joined as new investors, alongside Localglobe, Techstars Ventures, Tekton and Seedcamp. A number [...]
TfL bans Uber from London after ‘pattern of failure’ leaves passengers at risk November 25, 2019 Transport for London (TfL) today effectively banned Uber from the capital, saying the company was not a “fit and proper” operator. TfL said safety breaches had “left passengers at risk” and that Uber did not have “a robust system for protecting passenger safety”. It added that a “pattern of failure” was behind its decision to [...]
Meet the UK’s 70 fastest-growing tech firms November 20, 2019 70 of the most promising high-growth tech firms in the UK have been named as the country’s top scaleup companies by tech group Silicon Valley Comes to the UK (SVC2UK). Media intelligence company Signal AI, car insurance specialist Cuvva, and online plant store Patch are among the firms that have been selected for SC2UK’s 2019 [...]
Politicians need to take the brakes off e-scooters for a greener commute to work November 19, 2019 If you are stuck in traffic, watching another diesel taxi go past, you won’t be alone in wishing for cleaner ways to travel around London. New research shows that nearly 70 per cent of people don’t think politicians are doing enough to encourage alternative, environmentally friendly transport options. So, what are these alternatives? Right now, [...]