Credit Suisse warns of financial hit from Greensill collapse March 16, 2021 Credit Suisse has warned it may book a charge following the collapse of Greensill Capital as scrutiny grows over its relationship with the firm. Earlier this month the Swiss bank closed a $10bn suite of supply-chain finance funds linked to Greensill, and it is also trying to recoup a $140m loan it made to the [...]
Legal lender Level gets £20m investment from venture capital firm March 16, 2021 Legal lender Level has received an investment from Guernsey-based 1818 Venture Capital worth £20m. Level specialises in lending within the family and private client law sectors and works with more than 200 law firms. It had funded hundreds of cases and clients. George Williamson, founder and CEO of Level, said: “[The] investment, and in particular [...]
Just Group lifts profits amid bid for sustainable capital March 16, 2021 Specialist financial services firm Just Group enjoyed an 11 per cent lift in annual earnings, which boosted underlying profits to £297m in December. The group announced this morning that thanks to a host of new sales, new business profits increased by £17.2m to £199.2m, compared to the previous year. This reflects a 12 per cent [...]
BoE: ‘No interest’ in lowering capital requirements for insurers post-Brexit March 16, 2021 The review into Britain’s financial rules post-Brexit will not lead to any “radical departure” or a reduction in capital requirements, the Bank of England (BoE) said today. Brexit has prompted the government to look at insurance capital rules inherited from the EU, with hopes it could lead to fewer requirements. The bank’s Deputy Governor Sam [...]
Women sentenced after faking husband’s death for £400,000 insurance claim March 15, 2021 A woman from London faces two years imprisonment after she reported her husband dead in an attempt to defraud her insurer £397,153. Thuile Bhebhe, 51, reported that her husband had died in Zimbabwe in August 2016, submitting false documents to her insurer, Aviva, in order to substantiate her claim. But discrepancies in the paperwork submitted [...]
Boris Johnson’s plan to tackle obesity must be backed by behavioural science March 15, 2021 The last 12 months have revealed clear links between obesity and Covid-19. As the Government pledges £100m to tackle this next great health challenge, what will it take to reduce our national waistline for life – not just life after lockdown? This month, the Government unveiled a new incentives and rewards approach designed to tackle [...]
Tech hiring surges as firms turn to government’s Kickstart Scheme March 15, 2021 The resilience of the tech sector has seen hiring return to pre-pandemic levels and now it is turning to the government’s kickstart scheme to recruit under-24s. The digital tech sector has seen hiring surge to pre-pandemic levels with 122,446 advertised roles in the IT sector alone. Firms are making use of the government’s Kickstart Scheme [...]
Bitcoin marks a significant step forward in trust for all of us March 12, 2021 Bitcoin marks a significant step forward in trust for all of us, says Michael Haynes, founder and CEO, Etherbridge.
Why Greensill’s collapse could spell calamity for Gupta’s steel empire March 12, 2021 Australian financier Lex Greensill’s financial empire has collapsed just a year after seeking a $7bn valuation. On Monday Greensill Capital filed for administration and it risks taking Sanjeev Gupta’s steel empire down with it. What went wrong for the banker and the steel magnate and how will its demise affect thousands of British steel jobs? [...]
Branston pickle, Cadbury flake and crumpets among top five UK exports expats craved during pandemic March 11, 2021 Demand for UK food from exporter British Corner Shop surges in US amid revenue rise by 150 per cent