Financial services firms unaware of cybersecurity risks attached to remote working March 28, 2021 As the UK starts to emerge from the pandemic the debate surrounding remote working has reared its head again. New research shows bosses are unaware of the cyber security threat attached to more employees working outside the office. As lockdown restrictions start to ease more firms are considering a pivot to a more permanent remote [...]
Tencent-backed mutual aid site to be axed under China’s fintech crackdown March 26, 2021 Tencent-backed Waterdrop has become the latest subject of China’s fintech crackdown today as it confirmed its online mutual aid platform will shut down at the end of the month. The crowdfunding company provides customers with a basic health plan covering critical illnesses, where its 80m users share the risk of becoming ill and covering the [...]
Lloyd’s of London may ditch strict dress code after 335 years March 26, 2021 Lloyd’s of London could ditch its strict dress code policy for the first time in its 335-year history, with some brokers calling for the “stuffy” attire to be scrapped. Lloyd’s staff who work in one of the City of London’s most iconic buildings are expected to abide by a strict dress code. Men are expected [...]
The fight for the City: Can Labour challenge the orthodoxy of a pro-business Conservative Party March 26, 2021 Free market purists dismiss it as “woke capitalism”. But could a thriving concern in the City for the health of the planet and for social justice pose an opportunity for the Labour Party? The Square Mile is traditionally caricatured as Tory territory – never an entirely accurate assumption, given its young, multicultural workforce with a [...]
Aviva to sell Polish arm to Allianz for €2.5bn March 26, 2021 Aviva has agreed to sell its Polish arm to Allianz for a cash consideration of €2.5bn, which it said valued the acquired business at €2.7bn. The pension provider and insurer said it will now focus on its business in the UK, Ireland and Canada. This is Aviva’s eighth transaction in as many months. The giant [...]
Closer UK-Japan ties will unlock access to Asian markets March 25, 2021 Last week’s Integrated Review made it clear that Asia will be increasingly important to theUK as the world’s economic and strategic balance shifts towards the region. Commentatorshave emphasised the need for Britain to bolster security ties with regional partners likeJapan – a country which shares many economic dynamics with the UK, and a similar globaloutlook. [...]
Green investment surges as UK bosses sound alarm on climate change March 25, 2021 The majority of UK bosses intend to increase their long-term investments in sustainability initiatives as they grow concerned about the impact of climate change. A PwC survey of UK chief executives reveals 70 per cent are concerned about the impact of climate change, with almost a third “extremely concerned” about the issue. But climate change [...]
Rishi Sunak cuts red tape on inheritance tax for Treasury’s ‘tax day’ March 23, 2021 Rishi Sunak will cut red tape involved with UK inheritance tax and tighten tax rules for second property owners as the Treasury today released a series of consultations and reports in what Whitehall is calling “tax day”. The measures will see the government reduce paperwork and other red tape required for people with smaller estates [...]
Old Mutual restores dividend despite annual loss March 23, 2021 South Africa’s Old Mutual declared a dividend of 35c per share on Tuesday after swinging to a pre-tax loss in 2020. Group profits were slashed by the pandemic, forcing the company to set aside billions of rand in provisions. Old Mutual cut final dividend by 53 per cent to 35c per share, equating to a [...]
MPs call for insurers Legal & General and Aviva to cut ties with HSBC over its Hong Kong stance March 22, 2021 A group of British parliamentarians have called for major British insurers Aviva and Legal & General to cut ties with HSBC over its support of Beijing’s democracy crackdown in Hong Kong. The group of 10 MPs and peers wrote to the pair of insurers to say that “investment in HSBC is in direct conflict with [...]