Ryanair threatening to remove pilot perks over strikes, union claims September 19, 2019 Striking Ryanair pilots have accused the airline of threatening to remove their perks if they take part in this month’s planned walkout. Ryanair pilots who are members of the British Airline Pilots’ Association (Balpa) began their strike action yesterday, which is due to continue on 21, 23, 25, 27, and 29 September. Read more: Ryanair suffers [...]
Blackrock says Federal Reserve rate cut should have been ‘bolder’ September 19, 2019 The world’s biggest investment firm Blackrock has criticised the Federal Reserve’s decision to cut interest rates by one notch, saying it “missed an opportunity for a bolder stance”. Read more: US Federal Reserve cuts interest rates by a quarter point Rick Rieder, chief investment officer of global fixed income at Blackrock, which manages $6.8 trillion [...]
Charles Taylor share price jumps on £261m takeover deal September 19, 2019 Private equity house Lovell Minnick has said it will take Charles Taylor, the listed insurance company, private in a £261m deal. Charles Taylor’s board said they believe the offer is “compelling” and will be recommending it to shareholders at a meeting in November. Read more: ‘Sobering and devastating’: Lloyd’s of London bosses speak out on [...]
Tate & Lyle agrees £930m ‘de-risking’ pension deal with Legal & General September 19, 2019 Food and drink ingredient supplier Tate & Lyle has agreed a £930m annuity insurance “buy-in” with Legal and General. Tate & Lyle has transferred its pension scheme so it is underwritten by the financial services giant, which it said would provide “certainty and security” for its affected members. Read more: Tate & Lyle reports flat [...]
Saga profits slump as travel business wanes September 19, 2019 Saga posted a sharp fall in profits during the first half of this year, as challenges in its travel business dragged down the over-50s tourism and insurance giant. Pre-tax profits at the firm tumbled year-on-year by more than 50 per cent from £109.7m to £52.8m. Read more: Lloyd’s of London bosses ‘devastated’ at company misconduct [...]
‘Sobering and devastating’: Lloyd’s of London bosses speak out on sexual misconduct claims September 18, 2019 Top bosses at Lloyd’s of London have expressed deep regret over a swathe of sexual misconduct allegations that have blighted the historic insurance market’s reputation. The chairman and chief executive of Lloyd’s both said this morning that revelations of sexual harassment and assault against women at the firm had been devastating. Chairman Bruce Carnegie-Brown told [...]
Lloyd’s of London profits rise to £2.3bn September 18, 2019 Lloyd’s of London has reported pre-tax profits of £2.3bn for the first six months of 2019. The historic insurance market’s profits before tax climbed from £600m in the previous year, with boss John Neal citing “increased discipline” for the rise. Neal said: “It is encouraging that the Lloyd’s market is showing increased discipline in 2019 [...]
PPI costs account for over half of all conduct and litigation charges at UK banks September 16, 2019 Costs from the mis-selling of payment protection insurance (PPI) has accounted for more than half of all litigation and conduct charges faced by Britain’s biggest banks in recent years. Moody’s Investors Service has said that PPI was the largest single source of conduct and litigation charges from 2011 to the first half of 2019, as [...]
Can you Brexit-proof your investment portfolio? September 16, 2019 The future of Brexit is unknown, but investors and traders need to be proactive if they are to avoid any sudden shocks. Here’s how you might Brexit-proof your investment portfolio. The UK hasn’t left the EU yet, but Brexit is already wielding its influence over the financial markets. For the past three years, investors and traders [...]
The City is looking to India for future partners September 16, 2019 As people back home enjoy what we hope is an Indian summer, I am heading to the subcontinent this week for a five-day visit to Delhi, Hyderabad and Mumbai – just as monsoon season draws to a close. The political weather in the UK may be stormy, but when the dust settles, one thing is [...]