Santander profits dive 18 per cent as UK mortgage margins squeezed July 23, 2019 Santander posted an 18 per cent plunge in second quarter profits due to one-off acquisition costs and rising pressure on mortgage margins in the UK. Read more: Santander ‘offered Andrea Orcel 52m euros’ in botched CEO plan The figures Profit before tax fell 18 per cent year on year to €1.39bn (£1.25bn) between April and [...]
Beazley profits almost triple as policy premiums rise July 23, 2019 Beazley has raised its outlook as profits more than doubled in the first half of its financial year, with the insurer hailing higher policy rates after years of expensive payouts for natural disasters. Read more: Profits halve as Beazley endures natural disaster losses The figures Beazley recorded higher profit before tax of $166.4m, an increase [...]
Boris Johnson likens Brexit to moon landings as Tory leadership voting enters final day July 22, 2019 Tory party members have until the end of the day to cast their vote in the leadership election, with Boris Johnson expected to be crowned the winner. Ahead of his likely coronation as Theresa May’s successor, Johnson issued a renewed call to solve the problem of the Irish backstop, the insurance policy designed to prevent [...]
Number of employees enjoying job perks falls to 12-year low July 22, 2019 Corporate cost cutting has pushed the number of people receiving major job perks to a 12-year low, according to research. The number of employees who receive taxable job perks such as company cars, private medical insurance and staff accommodation fell 3.6m last year. Read more: Google UK employees earned £226,000 on average last year The [...]
Voyager Air grounds plans for London Stock Exchange listing July 18, 2019 An aircraft leasing firm has stalled its planned initial public offering (IPO), becoming the second major company in a fortnight to put off its float in London. Voyager Air has halted its ambition to raise $200m ($160m) through an IPO on the London Stock Exchange, blaming “currently unfavourable” market conditions for the move. Read more: [...]
Activist investor Elliott takes stake in Saga July 17, 2019 US activist investor Elliott has taken a stake in troubled tourism and insurance firm Saga in a move that could put pressure on management to boost returns. Shares in Saga were up 9.18 per cent this afternoon after it was revealed that Elliott Capital Advisors has disclosed a 5.14 per cent stake in the company. [...]
Barratt Developments: A cheap income play too good to miss? July 15, 2019 There’s lots to like about housebuilders, but all may not be what it seems, writes our head of markets. Until recently, the housebuilders had been directly in the firing line given Brexit uncertainty. This position has changed of late as the sector generally continues to make hay while the sun shines. The backdrop has been [...]
Insurers voice disappointment as UK changes personal injury discount rate July 15, 2019 The insurance sector blasted the government today as it revealed plans to change the discount rate used to determine insurance payments for serious injuries in accidents from minus 0.75 per cent to minus 0.25 per cent. Read more: More price hikes to come as car insurance premiums climb The Ministry of Justice revealed the change [...]
The Asian giant has awoken – now it’s up to the City to seize the opportunities July 15, 2019 Asia now represents nearly half the world’s GDP and most of global growth.
More price hikes to come as car insurance premiums climb 3.5 per cent July 15, 2019 Car insurance premiums look set to climb further, experts have warned, after a 3.5 per cent price hike last quarter. It comes as the third price rise in four quarters, meaning the average car insurance price hit £789, up £27. Read more: Half of motorists think charging loyal car insurance customers more should be illegal [...]