Warren Buffett’s Berkshire Hathaway books $43.8bn loss after slide on equity markets August 6, 2022 Warren Buffett’s Berkshire Hathaway was hit by the global rout on equity markets in the second quarter of the year as it booked a hefty $43.8bn loss.
Hundreds of Amazon warehouse workers continue walkout over pay August 4, 2022 Amazon workers at an Essex warehouse are walking out for a second day on Thursday, in a protest calling for a “drastic” pay improvement. On Wednesday night and Thursday, around 400 workers at the Tilbury operation walked out over the US tech giant’s offer of a 35p per hour pay offer. Workers in the GMB [...]
Van insurance premiums surge to record highs as inflationary pressures bite August 4, 2022 Van insurance premiums have surged to record highs, after increasing for six consecutive months in a row, due to soaring inflation and widespread price hikes in response to new rules banning the practice of “price walking”. The cost of insuring a van increased by 13.6 per cent during the first six months of the year, [...]
Phoenix Group set to buy Sun Life UK in £248m cash deal August 4, 2022 Pensions giant Phoenix Group is set to snap up life insurance firm Sun Life UK today in a cash deal worth £248m, the firm announced this morning.
Lloyd’s of London aims to attract billions in capital via launch of new investment vehicle August 4, 2022 Lloyd’s of London has set out plans for the launch of a new investment vehicle, with a view to drawing in billions from institutional investors. The London insurance market today announced plans to set up a second protected cell company (PCC) following the successful launch of its London Bridge Risk PCC vehicle last year. [...]
Sunak and Truss’s room for tax cuts is ‘limited’, OECD warns August 3, 2022 Tory leadership hopefuls Liz Truss and Rishi Sunak’s room to cut taxes is limited, a top global economic institution said today. The Organisation for Economic Co-operation and Development (OECD) said an ageing society and the need to boost public sector investment to lift growth will keep government spending higher for decades, limiting “the scope for [...]
Battle for Number 10: From tax to NHS, here are all the promises Liz Truss and Rishi Sunak have made so far August 3, 2022 Yesterday, Liz Truss has this morning performed a screeching U-turn on a policy to pay regional public sector workers less than their London counterparts. it came after a severe backlash from Tory MPs and Tees Valley mayor Ben Houchen. The embarrassing move comes as Truss and her rival Rishi Sunak continue to flesh out their [...]
Peer2Peer Finance Awards – nominations now open! August 3, 2022 Peer2Peer Finance News is hosting its inaugural awards event – the Peer2Peer Finance Awards – on Tuesday 6 December 2022 at the prestigious Hurlingham Club in London. The awards will highlight the best and brightest among the peer-to-peer lending industry, including platforms and the service providers supporting them. Categories have been announced, with all awards free to enter [...]
Axa launches £840m share buyback scheme as higher earnings offset £250m hit from Ukraine August 3, 2022 French insurance giant Axa today said an uptick in earnings, driven by higher incomes from its investment portfolio, offset the €300m (£251m) hit to its business arising from the war in Ukraine. In reflecting its “robust performance,” Europe’s second biggest insurer vowed to buy back €1bn worth of its own shares from shareholders, after [...]
Ping An proposal to break up HSBC gains momentum as small investors back plan August 3, 2022 HSBC investors are ramping up calls for the banking giant to break up as they side with Chinese insurance company Ping An. Pressure on the bank to shave off its Asian business into a separate company increased after a meeting with HSBC executives and Hong Kong investors yesterday, as small shareholders backed the proposal by [...]