Admiral appoints Geraint Jones as new CFO August 13, 2014 The owner of confused.com has announced the appointment of Geraint Jones as group chief financial officer (CFO) and executive director of Admiral Group, with effect from 13 August. Geraint, who has been with Admiral since 2002, will take over from Kevin Chidwick who will now focus on his US role as CEO of Elephant Auto [...]
Why the sharing economy could live up to the hype August 11, 2014 This was the summer the sharing economy truly hit London. First, we had black cabs bring Whitehall to a standstill with protests over the introduction of Uber, an app that allows you to call a cab wherever you are. Next, plans were announced to remove laws controlling short-term rentals, opening up the door for Airbnb [...]
Lights out for darker skies: First World War started with a crash August 3, 2014 For the City, the Great War began with a financial crisis. Even before Britain committed itself, Europe’s great powers ranging against one another spelled disaster: the collapse of the magnificent, peaceful edifice of international trade built between the empires. As told in Jerry White’s riveting account of London in the war, Zeppelin Nights, on Friday [...]
City bidding for driverless cars as £10m plan gets under way July 30, 2014 Driverless cars could be weaving their way through the City’s streets in just six months, the government revealed yesterday. In an announcement that came as a surprise to one of the biggest car manufacturers in the UK, ministers unveiled a £10m plan to allow three cities the chance to test-run cars that drive themselves. Bids [...]
Bottom Line: Driverless cars aren’t on a risk-free road July 30, 2014 THE decision to put the UK in the forefront of the development of driverless cars is a brave, smart choice. Smart because this technology is accelerating fast and it makes sense to have a hand on the steering wheel. With firms such as Ricardo UK doing great work on autonomous road train projects, and experiments [...]
Is the UK close to widespread adoption of driverless cars? July 30, 2014 Stian Westlake, executive director of research at Nesta, says Yes. Self-driving cars offer big benefits for consumers and for the economy. They’re safer. They’ll allow us to free up city centre parking and relieve drudgery for the 57 per cent of British workers who drive to work. The reality is near at hand. Google cars [...]
German city of Hamburg is the latest to try and ban taxi app Uber July 23, 2014 Yet another city that doesn't like Uber. The German city of Hamburg has become the latest to try and ban the smartphone taxi app service, further indication of the increasing pressure the US company is facing from local regulators and cab drivers. The San-Francisco based firm, which operates in more than 149 cities in 42 [...]
Smashing! Car insurance prices decline for a record 10th quarter July 9, 2014 Car insurance premiums have fallen for a record tenth time in a row according to new research. Consumers are seeing even cheaper prices as premiums are pushed down by a further £17 in the second quarter of 2014, a new survey by Towers Watson and Confused.com has found. Prices for new comprehensive policies fell by [...]
Admiral share price sinks after insurance firm announces £200m bond issue July 9, 2014 Shares in Admiral hit the rocks yesterday after the insurance firm announced a £200m bond issue, a first for the group. Chief executive Henry Engelhardt said the group is seeking to diversify its capital base amid “favourable” market conditions and reasonable rates. “It is an opportune time to strengthen and diversify our capital resources as [...]
London Report: FTSE at two-month low as Admiral and Aviva shares dive July 9, 2014 BRITAIN’S top share index fell for a third straight session to a two-month low yesterday, with Admiral sinking after its trading update and Aviva down after outlining its turnaround targets. Next dipped two per cent to 6,365p after reaching its ex-dividend date. Car insurer Admiral slumped 3.3 percent after saying revenues fell in the first [...]