Gordon Brown proposes G7 funding model to vaccinate poorer countries June 9, 2021 The former Prime Minister said that Friday’s G7 meeting will decide “who lives and who dies”, dependent on access to the Covid-19 vaccine. Brown argued the G7 countries should use the summit to create a cost-sharing formula, modelled on UN peacekeeping, to help fund vaccine distribution in the poorest countries. International agencies the ACT-Accelerator Alliance [...]
Bank of England launches climate stress test for banks and insurers June 8, 2021 The Bank of England has set out its first climate stress test for the UK’s top banks and insurers but have said the results will not currently be used to determine capital requirements. The test will scrutinise the resilience of Britain’s financial system to stresses from a shift to a net zero-carbon economy as well [...]
Activist investor Cevian calls on Aviva to increase returns after building stake June 8, 2021 Activist investor Cevian Capital has called on Aviva to return £5bn in excess capital to shareholders after building a stake in the insurer. The Swedish investment firm today announced it holds 194,549,437 in Aviva, corresponding to around 4.95 per cent of the company’s total number of shares and votes. It makes the firm Aviva’s second-largest [...]
Ascot partners up with insurance broker Howden June 7, 2021 Howden has partnered up with Royal Ascot as the insurance broker solidifies its relationship with the sport of King’s. The deal includes extensive on-course advertising for the festival, and will last for five years. This year’s Royal Ascot will be part of the Government’s trial events programme, with attendees able to eschew some of the [...]
Former Barclays boss in line for £200m windfall as Blackrock takes 10x stake June 5, 2021 Former Barclays boss Antony Jenkins is said to be on the brink of a deal that will see his personal wealth surge by £200m as Blackrock funds close in on his new fintech venture. Jenkins, who was ousted as chief executive of Barclays in 2015, is close to selling a stake in 10x Future Technologies [...]
Tom Cruise’s Mission: Impossible pauses UK filming after crew Covid cases June 4, 2021 UK-based production of Tom Cruise’s latest Mission: Impossible film has been stopped for two weeks after people tested positive for Covid-19, studio giant Paramount said today. While it is unclear how many tested positive for the virus, which has prolonged releases since March last year, the blockbuster action sequel will resume shooting on 14 June, [...]
Sun shines on FTSE 100 amid reshuffle as ITV aims for prime-time slot June 1, 2021 The sun is shining on the FTSE 100 with the index receiving an early summer boost pushing it firmly above the psychologically important 7,000 mark. As the global growth recovery story unfolds, miners in particular are on the front foot today, as high demand for metals in particular push prices higher. Anglo American and Rio [...]
Thinking around corners on UK rental market could transform life for the better June 1, 2021 With pubs and restaurants open across London once again, the capital’s young professionals can return to one of their favourite pastimes: gathering together over a drink to complain about the rental market. We all know the stereotypical ladder: you begin in a slightly shabby, probably shared flat, you move on to somewhere on your own [...]
RSA Insurance bought for £7.2bn by Canadian and Danish buyers June 1, 2021 A consortium of Canadian and Danish buyers have completed the acquisition of RSA Insurance, in a deal worth £7.2bn. Under the terms of the all-cash deal, Danish buyer Tryg will take over the Swedish and Norwegian arms of RSA, while Canada’s Intact will have the Canadian, British and international businesses. RSA, which owns brands including [...]
Canadian firm votes for City of London with two property mega deals in pipeline May 30, 2021 Canadian private equity giant Brookfield is set to buy City of London property Plantation Place for a whopping £635m – the biggest office deal since Covid-19 changed working patterns and emptied offices. The deal is expected to complete this week, the Sunday Times first reported, with Brookfield also in separate talks to buy Milton Gate, [...]