City Moves: Who is switching jobs in the Square Mile this week? March 3, 2021 Snakes and Ladders provides a roundup of the most important hires and job moves across the City, every Wednesday afternoon. Email citymoves@cityam.com to be featured. This week we have seen a flurry of new hires across the capital. From a Ritz chairman joining an intelligence firm, to a former Knight Frank executive taking on a leading residential role [...]
We need to stop endless reviews to save Britain’s summer March 3, 2021 Boris Johnson’s roadmap to unravel lockdown has lifted spirits across the nation. The reopening timetable is something to look forward to after so many months of isolation. When the ExCeL built the first Nightingale in March last year this felt like a distant dream. We were told vaccines could take years in development, PPE was [...]
Prudential’s Asia business drives growth in operating profit March 3, 2021 Prudential is preparing to spin off its US unit as it focuses on its main Asian business which boosted operating profit four per cent last year. The insurance giant reported overall adjusted operating profit from continuing operations of $5.5bn while Asia operating profit jumped 13 per cent to $3.7bn. It comes after a difficult first [...]
Rishi Sunak must take his time balancing the books or risk punishing those hardest hit by Covid March 3, 2021 Timing is everything. The Chancellor, as he weighs up his options to make some initial headway in his avowed “sacred duty” to balance the books, knows this only too well. His income support schemes are being closely managed to match the extension and easing of pandemic restrictions on the economy. While this is significant, so [...]
Recruiter Page Group profit slumps as hiring comes to a standstill March 3, 2021 Recruitment firm Page Group has reported an almost 90 per cent drop in full-year profits after the pandemic prompted hiring freezes. Page Group, which operates in 36 countries, reported pretax profits for the year ended 31 December 2020 of £15.5m, down from £144.2m the previous year. Revenue in its EMEA business, which brings in more [...]
Insurer Beazley appoints new CEO as Horton leaves for QBE March 3, 2021 Beazley has today announced that its CEO Andrew Horton will leave the company to take over at QBE Insurance Group in Australia. Adrian Cox has been appointed as his replacement, having worked under Beazley for 20 years. He has over 25 years of industry experience, most recently as the firm’s Chief Underwriting Officer. “I am [...]
Charm offensive: Hiscox prepares to woo customers following pandemic ‘brand damage’ March 3, 2021 Insurance giant intends to build back its reputation “one policy at a time”, after the Covid-19 pandemic and subsequent court case left the business facing “brand damage”. Earlier this year Hiscox came under fire after customers complained they were not being granted payouts on claims made on their business interruption insurance. In a landmark case [...]
Budget 2021: What to expect from Rishi Sunak’s three-point plan tomorrow afternoon March 2, 2021 Rishi Sunak has hinted that he will extend a wide range of government support schemes in tomorrow’s Budget, as he again pledged to do “whatever it takes” to restore the British economy from the impact of the coronavirus crisis. It may be only Sunak’s second Budget as chancellor, but it comes after delivering almost a [...]
Budget: Looming tax hike met with shock and horror within the self-employed community March 2, 2021 Chancellor Rishi Sunak is expected to announce new taxes on online deliveries and freelance workers in tomorrow’s Budget, largely aimed at helping to pay off the UK’s Covid spending. Moreover, he may up taxes for self-employed people. The taxes are aimed at targeting online firms like Amazon, Boohoo and Asos, which have seen profits soar [...]
Budget: What should Rishi Sunak prioritise to boost UK manufacturing? March 2, 2021 Government borrowing has now exceeded £270bn in this financial year, according to the Office for National Statistics. While under normal circumstances, this may have raised some eyebrows, we are still operating in unprecedented times. Despite the significant COVID-19 relief bill, further investment stimulus is required, and the UK manufacturing sector will be hoping this is [...]