Phoenix hikes dividend as pensions deals bolster insurer’s business August 15, 2022 Phoenix Group today upped its dividend after posting “record” financial results for the first half of 2022. The London insurer hiked its dividend by three per cent to heights of 24.8p a share after a series of pensions deals bolstered Phoenix’s revenues. The pensions deals, signed off in the first half of last year, saw [...]
Scottish Power urges Government to bring in price cap freeze as winter crisis looms August 14, 2022 The boss of Scottish Power has proposed that the energy price cap should be held for the next two years to ease household costs.
Week ahead: City shapes up for possible double-digit inflation August 14, 2022 The City is bracing for a week brimming with big economic announcements that will shed more light on the health of the UK economy. London’s premier FTSE 100 index notched a decent performance last week, gaining nearly one per cent to close at a shade over 7,500 points. The mid-cap domestically-focused FTSE 250 index, which [...]
Exclusive: Good Energy boss hits out at ‘misty-eyed’ calls to nationalise utilities August 14, 2022 People should not get "misty-eyed" over nationalised utilities, argued Good Energy boss Nigel Pocklington.
Five Chinese firms vow to delist from US markets amid long running audit dispute August 13, 2022 Five Chinese state-owned companies have said they will pull themselves off the New York stock exchange amid long-running clashes between Beijing and Washington over audit standards. The five Chinese firms have said they will delist from the Wall Street market after coming under scrutiny over US regulators claims they have failed to meet US audit [...]
HSBC is overstating Asia demerger cost, Ping An claims August 11, 2022 Britain’s largest bank HSBC is blowing up the financial hit from carving out its Asia business to water down pressure from its biggest shareholder to demerge, sources close to the matter said. Chinese insurer Ping An claimed selling off the high street lender’s highly profitable Asia arm would unlock $35bn (£29bn) in value for shareholders [...]
Zurich posts highest first-half profits since 2008 financial crash August 11, 2022 Swiss insurance company Zurich today posted its highest first-half profits since the financial crash of 2008 and its second highest profits ever. The insurer said its business operating profits increased 25 per cent compared to last year to long-term highs of $3.393bn. The uptick in Zurich’s profits, which saw it second best results ever, came [...]
US inflation under shoot boosts London’s FTSE 100 and Wall Street August 10, 2022 City traders today were boosted by signs of inflation cooling in the world’s biggest economy sparking a rally on Wall Street. London’s premier FTSE 100 index climbed 0.25 per cent to 7,507.11 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, surged nearly two per [...]
Clyde & Co partners see payouts drop to £708,000 August 10, 2022 London law firm Clyde & Co today said its partners will see their pay packages drop by sums of £7,000 after the addition of 44 new partners diluted its profit-per-equity-partner ratios. Clyde & Co’s 480 partners will see their payouts drop from sums of £715,000 last year to £708,000 for the financial year 2022, the [...]
Truss accused of U-turn as she opens up to idea of direct cost of living payments August 10, 2022 Liz Truss has been accused of performing another policy U-turn, after the Tory leadership frontrunner hinted she was open to giving households cash payments to ease the cost of living crisis. Sources on her campaign today said “there is work going on in government on what more can be done” to help people cope with [...]