April cost hike storm to push businesses ‘to the brink’ March 31, 2022 A series of cost hits and fresh admin requirements landing in April threaten to push UK business “to the brink”, reveals fresh research published today. Several support packages put in place to cushion the impact of the Covid-19 crisis on firms end today and over the course of the next month, just as companies are [...]
Aviva chief Amanda Blanc to sit alongside Sir David Attenborough as ambassador for WWF March 31, 2022 Aviva chief executive Amanda Blanc is set to join a group of high-profile environmentalists in becoming an ambassador for nature charity WWF. In taking up her new position, the Aviva chief will sit alongside Sir David Attenborough and other prominent figures on WWF’s Council of Ambassadors. The insurance exec’s new role as ambassador will see [...]
Raising taxes on working people is ‘bananas’, economists warn March 30, 2022 Raising taxes on working people while shielding other forms of income from levies is “bananas,” according to a top wonk’s analysis of chancellor Rishi Sunak’s spring statement. Hiking employers and employees national insurance contributions 1.25 percentage points in April instead of using income tax to raise revenue is the “opposite of what everybody thinks we [...]
Aircraft leasing firm BOC retrieves 747 from Russian operator March 30, 2022 Aircraft lessor BOC Aviation announced today it had retrieved a Boeing 747 freighter from Russian operator AirBridgeCargo. The aircraft was flown on 25 March from Hong Kong to California after a US judge allowed the company to repossess it. The Singapore-based lessor explained that the plane was worth $148m and AirBridgeCargo had breached leases for [...]
Johnson says he is tax cutter, despite hiking tax burden to 70-year high March 30, 2022 Boris Johnson has claimed he and Rishi Sunak are “tax-cutting Conservatives”, despite the pair hiking the UK’s tax burden to its highest level since the 1950s over the past two years. Sunak oversaw cuts to fuel duty and National Insurance last week as a part of his economic spring statement last week, while also announcing [...]
Students to ‘shoulder burden’ of public finances under loan reforms March 29, 2022 Students will be left shouldering the burden of Covid and Brexit under reforms to the loans repayment scheme, economic analysts have warned.
Failed Bain Capital takeover bid cost LV= £33m March 29, 2022 LV=’s failed bid to sell itself to US private equity firm Bain Capital cost the mutual insurer more than £33m, the firm revealed today. Full year figures from the Westbourne headquartered insurer show LV= paid out £21m in costs in 2021 in addition to the £12m it paid out in 2020 and a small amount [...]
Aircraft leasing market could oust Russia beyond Ukraine conflict, lessor says March 29, 2022 Russian airlines could be ousted from the aircraft leasing market well after the end of the Ukraine conflict, said today the world’s second-largest leasing company Avolon. According to the Dublin-based company’s chief executive Domhnal Slattery, the predominantly Irish leasing sector could oust Moscow following the Kremlin’s decision to re-register aircraft as part of its anti-sanctions [...]
Clyde & Co agrees merger with BLM following partner vote March 29, 2022 City of London law firm Clyde & Co has agreed to merge with insurance specialist law firm BLM. The merger will see the two firms join forces to form a major global law firm with more than £700m in revenues and 5,300 employees – including 2,600 lawyers. The coming together of the two firms is [...]
AIG lines up IPO for retirement division as it inks $150bn deal with BlackRock March 29, 2022 US insurance giant AIG is lining up an IPO for its life insurance and retirements business which is expected to fetch a valuation of more than $20bn.