CBI admits group failed to root out ‘toxic’ workers amid sexual misconduct crisis April 24, 2023 The UK’s biggest business lobby group the Confederation of British Industry (CBI) has issued a last gasp plea to its members to give them “reason to consider trusting us again,” its president said in an open letter issued this evening. Brian McBride, president of the organisation, which was founded in the 1960s, admitted it had [...]
The City View: As we close the door on the CBI – it’s time to ask what’s next April 24, 2023 An inordinate amount of ink has been employed discussing the future of the CBI. At the heart of it is a question; if not them, whom? There is no question that medium to large businesses wish for a collective voice; regrettable though it may be, too many CEOs are wary to put their head above [...]
HSBC shareholders should not vote for Asia spinoff plan, warns advisory group ISS April 23, 2023 HSBC investors should vote against a resolution by the bank’s biggest shareholder Ping An, shareholder advisory group ISS said. Ping An are calling on HSBC to consider strategic options – including a spinoff of its Asia business. The proposal, over which the bank and the Chinese insurer have been arguing since last November, “lacks detailed rationale”, ISS [...]
Naftogaz held talks with US oil companies about energy projects in Ukraine April 22, 2023 State-owned gas company Naftogaz has held talks with Exxon Mobil, Halliburton, and Chevron about projects in Ukraine.
CBI exodus: Which firms have quit or suspended their relationship with the lobby group? April 21, 2023 A slew of top firms have quit or suspended engagement with the CBI today after the lobby group was rocked by new allegations of sexual abuse.
Aviva, Phoenix among top firms to quit CBI while as sexual misconduct scandal deepens April 21, 2023 A slew of top firms including Aviva and Phoenix have terminated membership of the CBI today after the business lobbying group was hit by new allegations of sexual abuse.
Leaseholders to gain new rights under FCA insurance reforms April 21, 2023 The Financial Conduct Authority (FCA) has proposed insurance reforms to protect leaseholders from paying extortionate sums for insurance. Under the new plans, leaseholders will be defined as “customers of buildings insurance” and insurance firms will be obliged to act in the leaseholders’ best interests. A leaseholder is someone who has bought the right to live [...]
Bank of America at odds with Lloyd’s over state-backed cyberattack exemption April 20, 2023 Bank of America has reportedly raised concerns with Lloyd’s of London about a move to exempt “state-backed” cyberattacks from standard insurance policies. Bank of America highlighted its concerns with the policy in a series of meetings between Lloyd’s and its biggest clients, the Financial Times reported. Marsh, the world’s biggest broker, is also understood to [...]
Inflation drives record rise in car insurance premiums – with Londoners worst hit April 20, 2023 Soaring inflation has led to a record 20 per cent jump in UK car insurance premiums – the sharpest rise in a decade. Drivers are now paying on average £107 more for their car insurance than they were this time last year, according to the latest results from Confused.com’s Car Insurance Price Index. London motorists [...]
HSBC boss hopes ‘brave’ last-minute call to buy Silicon Valley Bank UK pays off April 20, 2023 HSBC’s UK boss Ian Stuart today defended the bank’s decision to buy Silicon Valley Bank UK, arguing the bank needed to be “brave”.