Moscow will cover Russian oil tankers hit by UK and EU insurance ban, Putin ally says June 8, 2022 Vladimir Putin’s right-hand man has said Moscow will cover Russian oil tankers to ensure they are able to continue making deliveries, if they are unable to get insurance due to Western sanctions. Speaking via messenger platform Telegram, former Russian president and key Putin ally Dmitry Medvedev said the Kremlin will cover uninsured ships, through assurances [...]
WH Smith lures Admiral chief Annette Court as new chairwoman to replace Henry Staunton June 8, 2022 Retailer WH Smith has named Annette Court as its new chairwoman to replace Henry Staunton when he retires later in 2022 year after nine years in the post. Ms Court – currently chairwoman of insurer Admiral Group – will join the board as a non-executive director and chair-designate on September 1 before succeeding Mr Staunton [...]
EV does it as cost of owning electric car cheaper than fuel June 7, 2022 Owning an electric vehicle (EV) is cheaper than a fuel car as petrol and diesel costs continue to bite UK motorists. According to a research published today by Insurance Revolution, EV owners can save up to £1049 annually compared with petrol or diesel car users, who on average spend around £1,000 a year on fuel. [...]
Allianz to take €400m hit after selling majority stake in Russian business June 7, 2022 Allianz has said it will take a €400m hit on its Russia operations, after agreeing to sell a majority stake in the business to the London registered company that owns one of Russia’s major insurance companies. The German insurer has agreed to sell a 50.1 per cent stake in its Russian business to London registered [...]
Johnson promises tax cuts to cabinet after surviving confidence vote June 7, 2022 Boris Johnson has promised his cabinet that he will unveil tax cuts, after last night surviving a vote of confidence in his leadership of the Conservative party. The Prime Minister this morning told a cabinet meeting that he will “deliver tax cuts” and that “it is people who have the best feel for how to [...]
LV= appoints new chair as insurance mutual’s CEO faces calls to quit June 7, 2022 LV= has appointed Simon Moore as its new chair, as the insurance specialist’s chief executive faces renewed calls to step down. Moore, who presently holds the position of chair at consumer lending firm PCF and digital bank RCI Bank UK, will succeed interim chair Seamus Creedon. Moore said he was “determined” that the legacy firm [...]
LV= chief executive Mark Hartigan faces renewed pressure to stand down after MPs step in June 6, 2022 LV= chief executive Mark Hartigan is facing renewed pressure to step down from his role, after MP’s called on the exec to exit the mutual insurance firm. In an interview with the Mail on Sunday, Tory MP Kevin Hollinrake said: “It is high time Mark Hartigan left the company. Every day he stays he’s earning [...]
Western IPOs plummet in value as war in Ukraine triggers volatile conditions for businesses June 6, 2022 The value of US and European IPOs has tumbled 90 per cent this year amid conflict in Ukraine, with rising inflation and interest rates.
Businesses warn inflation and supply chain crisis could be worse than impact of Covid-19 June 5, 2022 THE BUSINESSES at the backbone of the UK economy are increasingly worried inflation and supply chain issues will be more damaging to their prospects than the Covid-19 pandemic was, according to a closely watched sentiment tracker. Accountants BDO’s survey of medium-sized businesses suggests economic headwinds are squeezing both margins and wages – with tax hikes [...]
London’s many strengths can be bound together and renewed by public transport June 1, 2022 The opening last week of the Elizabeth Line, Britain’s latest engineering marvel, prompted reflections on how much there is to gain from better physical connections into and between London’s two biggest financial hubs – Canary Wharf and the Square Mile. The Square Mile is home to London’s insurance market, preeminent in the world and writing [...]