Co-Op announces new chair as ‘ideal person’ to take UK’s fifth biggest grocer forward July 13, 2023 The Co-op announced has announced a new chair, with Debbie White set to succeed Allan Leighton when he steps down in February 2024. White has held a number of important executive roles, having served as chief executive of Interserve and a senior director at Spire Healthcare. White will replace Leighton, who is approaching the end [...]
Elon Musk poised to disrupt UK energy market with new Tesla supplier July 12, 2023 The energy market could be shaken up by a bold new challenger, with Elon Musk's Tesla unveiling plans to launch a new supplier in the UK.
Greenwashing: the ESAs understanding July 12, 2023 On 1st June 2023, the European Supervisory Authorities (ESAs) – consisting of the European Banking Authority (EBA), the European Insurance and Occupational Pensions Authority (EIOPA), and the European Securities and Markets Authority (ESMA) – released their Progress Reports on Greenwashing in the financial sector. These reports present a common high-level understanding of greenwashing applicable to [...]
Pension giants back plans for £75bn private investment bonanza July 10, 2023 The country’s top pension and insurance giants have today thrown their weight behind a package of government reform that will aim to unleash a £75bn wave of capital into Britain’s private companies.
SVB Financial sues US regulator to recover $1.93bn seized in rescue July 10, 2023 SVB Financial Group has sued the U.S. Federal Deposit Insurance Corp (FDIC) to recover the $1.93 billion the regulator seized during its takeover of the failed Silicon Valley Bank in March, according to a filing in a bankruptcy court on Sunday. The lack of access to the funds was impeding SVB Financial’s reorganisation, it said, [...]
Mansion House: Chancellor must achieve financial fusion to supercharge UK science July 10, 2023 Greg Smith is CEO of IP Group, the British-based fund investing in tech companies. Tonight the Chancellor will announce plans to supercharge investment - but there is no time to lose
Jeremy Hunt unveils plans to boost pension funds’ investment July 10, 2023 Jeremy Hunt is set to announce hotly-anticipated plans to supercharge pension funds to invest in high-growth sectors and boost British businesses. The Chancellor will spell out his plans today to encourage schemes to invest cash in infrastructure, startups and green tech – in a bid to rocket power the UK’s growth while avoiding adding to [...]
Utilities sector hits rock bottom as customer satisfaction plummets July 10, 2023 Poor handling of complaints has powered a record plunge in customer satisfaction across all sectors of the UK economy.
Financial services dealmaking reaches 10-year high as appetite rebounds July 10, 2023 Dealmaking in the UK’s financial services sector reached its highest level in a decade in the first half of the year as top firms scrambled for safety in scale amid economic volatility, fresh data has revealed.
A liberalised Indian market would be a boon for London’s financial services July 10, 2023 India is liberalising its insurance sector, legal services and capital markets. It's a great opportunity for the Square Mile businesses to invest and expand, writes Chris Hayward