Digital Minister pushes UK tech as sector sails past $1tn valuation March 29, 2022 Digital minister Chris Philp has called today for UK institutional investors to step up and back homegrown tech firms, as government mulls a number of changes to regulation which could unlock a wave of investment from insurance and pension funds.
Post-Brexit City exodus fails to materialise as London drives recruitment bounce March 29, 2022 The mass exodus of workers from the City to the Continent after Brexit has failed to materialise, blowing gloomy forecasts about London’s place in the global finance community out of the water, reveals a fresh study published today. Finance firms based in the Square Mile have slashed the number of staff they were intending on [...]
LV= outperforms sales targets after redecorating C-suite March 29, 2022 LV=, one of the UK’s largest insurance companies, outperformed its sales and profit targets last year, after redecorating its C-suite. The London-listed insurance and pensions giant enjoyed a more than 200 per cent jump in trading profit, which soared around £20m over 2021. However, the group swallowed a more than 20 per cent loss in [...]
CPP Group ditches weaker offshoots in bid for higher profits March 29, 2022 CPP Group has undergone a string of disposals over the last year under a new board and executive team, in a bid to grow its profits. The group, which sells so-called ‘life assistance’ products like cybercrime solutions, continued to climb further into profitability over the last year, with pre-tax profit growing from £900,000 to £4.2m. [...]
Hong Kong life insurance market value to exceed £73bn in next four years March 28, 2022 Hong Kong’s life insurance market value has been pegged to soar over the next few years, driven by the pandemic-era trend to get one’s affairs in order. The industry is forecast to grow at a compound annual growth rate of 6.6 per cent, and more than five per cent over the 2022. Analysts at GlobalData [...]
Sunak says he is ‘prepared to act’ if energy bills soar again later this year March 28, 2022 Rishi Sunak has said he is “prepared to act” if energy prices continue to spiral out of control amid speculation he is ready to announce another multi-billion pound council tax rebate later this year. The chancellor told MPs on the Treasury Select Committee today that “It’s very difficult to sit here today and speculate on [...]
Lloyd’s of London boss hospitalised and CFO temporarily takes the helm March 28, 2022 Lloyd’s of London boss John Neal has been hospitalised following a bike accident over the weekend. Neal is expected to make a full recovery, Lloyd’s said in a statement today, after the accident which occurred on Saturday. The commercial insurance market will be helmed by chief operating officer and chief financial officer Burkhard Keese and [...]
Sunak gives with one hand and takes with another to paint a positive veneer March 28, 2022 LAST week’s spring statement—the chancellor’s mini-budget, and a significant opportunity to lay out priorities and plans—was a big event for Rishi Sunak. While Covid cases persist and people are still dying, there is a broader feeling that the pandemic is now under control, and that the country can now think about moving into a post-virus [...]
UK ransomware attacks double in past year March 28, 2022 New data has revealed that the number of ransomware attacks reported to the Information Commissioner’s Office has increased 100 per cent from 326 in 2020 to 654 in 2021.
Legal & General joins rebel Sainsbury’s shareholders in calling for higher wages March 28, 2022 Legal & General has joined a group of rebel Sainsbury’s shareholders calling for higher wages for staff and are pressuring the supermarket giant into a proposal. The group, which included International and the National Employment Savings Trust, has pushed past the threshold which should see Sainsbury’s put a proposal to shareholders on the issue, The [...]