Telecom Plus shares surge as customers snap up bargain deals October 3, 2022 Telecom Plus shares surged over 20 per cent this afternoon after the utility services giant hiked full-year profit guidance after posting record customer growth during the first half of the year. The company nabbed 86,004 new customers in the six months to September, taking its total customer base to 814,684 and representing an annualised growth rate of [...]
Hurricane Ian set to cost insurers £27-36bn October 3, 2022 The category 4 storm Hurricane Ian that hit the southwest coast of Florida earlier this month is set to cost insurers $30- 40bn (£27- £36bn), according to new analysis from S&P Global. However, US insurers are currently well positioned to absorb losses in having sufficient reserves to weather any financial hit, the ratings agency said [...]
Credit Suisse shares tumble as investor concerns grow October 3, 2022 Shares in Credit Suisse have tumbled beyond seven per per cent today as a charm offensive by bosses over the weekend failed to reassure investors over the bank’s financial stability.
Socially conscious insurer Lemonade makes first entry into UK market October 3, 2022 New York insuretech company Lemonade Inc today launched in the UK market with a view to disrupting Britain’s centuries-old insurance sector with its socially-conscious, AI-driven business model. The digital insurer aims to break the “cycle of distrust that plagues the insurance industry” with its pledge to cap its margins at 25 per cent by donating [...]
Kwarteng says ‘we must stay the course’ as he defends tax cuts October 2, 2022 Kwasi Kwarteng will tomorrow defend his tax cuts and declare “we must stay the course”, after the first day of Tory party conference was overshadowed by blue-on-blue attacks. The chancellor is expected to say he is committed to “fiscal responsibility”, after funding his tax cuts through more borrowing, in a bid to calm financial markets. [...]
Michael Gove says Truss tax cuts are ‘not Conservative’ October 2, 2022 Michael Gove has savaged Liz Truss and Kwasi Kwarteng’s recent mini-Budget, labelling the debt-funded tax cuts as “not Conservative”. The Tory big beast said the package – which included an abolition of the top 45p band of Income Tax were a “display of the wrong values” and he refused to commit to voting for them [...]
Truss: I should have ‘laid the ground better’ for tax cuts package October 2, 2022 Liz Truss has said she should have “laid the ground better” for her package of debt-funded tax cuts as she refused to rule out public spending cuts. The Prime Minister said “I have learnt from that and I will make sure in the future we will do a better job of laying the ground”, after [...]
Energy bills rise to record highs despite Government support October 1, 2022 Household energy bills have climbed to all-time highs for millions of Brits today, despite a Government cap on costs per unit.
AI in insurance needs to be safe and fair October 1, 2022 Charles Kerrigan and Emre Kasim take a look at the complexities of AI insurance legislation and the use of algorithms and datasets.
Britain’s economic meltdown must be settled by a firm grip and real growth September 30, 2022 To say it’s been a dramatic week in financial markets would be an understatement. The reaction to the government’s so-called “mini-budget” has seen the value of sterling crash and has led to criticism from the IMF and the Federal Reserve and an unprecedented intervention from the Bank of England who have been forced to buy [...]