UK insurer Phoenix Group undergoes executive reshuffle September 6, 2022 UK Insurer Phoenix Group has hired the Bank of Ireland’s chief operating officer Jackie Noakes as its new chief transformation officer as part of a wider boardroom reshuffle. Prior to this, Noakes held senior roles at both Legal & General and American Express. Andy Briggs, Phoenix Group chief executive officer, said he was confident that [...]
EXCLUSIVE: New PM Liz Truss will protect ‘crown jewel’ City of London September 6, 2022 Liz Truss will “empower the City to drive economic growth” through tax cuts and regulatory reform as Prime Minister, she exclusively told City A.M.. The newly-appointed Conservative leader said, who will be appointed formally by Her Majesty the Queen at Balmoral today, she wanted to maintain the Square Mile’s competitive edge and “supercharge growth and [...]
Lloyd’s of London says state-backed cyberattack policy is ‘responsible’ September 5, 2022 Lloyd’s of London has defended plans to stop providing insurance coverage for state-backed cyberattacks. In an interview with the Financial Times, Lloyd’s chief of markets Patrick Tiernan said the insurance marketplace is “being responsible” by taking a cautious approach. In a note last month, Lloyd’s explained that the potential for state-backed cyberattacks to spread could [...]
Brewdog boss calls for emergency tax relief as pubs stare down ‘existential threat’ of high bills September 5, 2022 Brewdog CEO James Watt has called for emergency tax relief for the hospitality industry as pubs battle the “genuinely existential threat” of rising energy bills. Last week, the Scottish brewer and bar group announced it would be closing six outlets across the UK, including three in London, due to elevated headwinds. The situation facing pubs [...]
UK parliament resumes with overflowing in-tray for the government September 4, 2022 Parliament will return tomorrow from a six-week summer recess with the government facing a series of crises and a busy legislative agenda. Liz Truss or Rishi Sunak will be sworn in as Prime Minister on Tuesday, after tomorrow’s Tory leadership announcement, with the eventual winner expected to bring forward a cost of living support package [...]
Tui pilots launch lawsuit over sick pay and changes to benefits September 4, 2022 Tui pilots on sick leave have launched a lawsuit against the travel giant over changes to sick pay and pension benefits. Eight employees took the airliner to the London High Court, claiming the carrier “concealed the true nature of the changes” included in a new sick pay plan, which was approved by staff in August [...]
Truss promises immediate help with energy bills September 4, 2022 Liz Truss has promised to provide immediate help with soaring energy bills if she is made Prime Minister in the coming days. The leadership favourite, who is expected to be announced as Tory party leader and Prime Minister tomorrow, said today that “we face serious, serious challenges which will take immediate action from the government”. [...]
G7 confirms plans to cap Russian oil prices September 2, 2022 Plans to impose an energy price cap on Russian oil are expected to be firmed up by G7 finance ministers when they meet later today.
Manufacturers urge government to table support package in face of ‘stormy waters’ September 1, 2022 The government has been urged to table a support package for the British manufacturers. Industry body Make UK has warned that rising gas and oil prices and overall inflation will “shatter” expectations of a sustaining a pandemic recovery. “We are clearly heading for very stormy waters in the face of eyewatering increases in energy costs [...]
Rishi Sunak’s demise was sealed long before he ever threw his hat in the ring September 1, 2022 It is a spectacular fall from grace, and one that began long before this leadership election began.