Our high streets are in grave danger June 12, 2019 For decades, the local high street has been the jewel in the crown of UK towns and cities, boasting an array of thriving local businesses and big-name stores. However an outdated business rates system, coupled with the rise of online retail giants, has left them in grave danger. This is a watershed moment for our [...]
Should you follow directors into this bombed-out stock? June 12, 2019 By Edmond Jackson from interactive investor. Down almost 90% from its peak, our shares analyst examines recovery potential at this household name. Should you trust company directors or hedge funds with their dealings, or make your own judgment? The current situation at former mid-cap AA (LSE:AA.) is a stark example as directors buy into an 88% drop since 2015 as [...]
End of the Saga: Chief executive Batchelor hangs up his lance June 12, 2019 The chief executive of over 50s travel and insurance group Saga will retire next year, the company said today. Lance Batchelor will retire at the end of the financial year in January 2020 after six years with the business. The recruitment of his successor is underway. In April Saga shares sank 40 per cent after [...]
Financial services jobs at risk amid rise of the robots June 12, 2019 As many as one in five jobs in the financial services sector could be replaced by robots within the next five years, a new survey has revealed. Research by KPMG and recruitment firm Harvey Nash showed the rapid rise of new technology such as automation and AI could remove the need for up to 20 [...]
City Moves for 12 June – Who’s switching jobs? June 12, 2019 Today’s City Moves includes KPMG, Reviral and FTI Consulting. KPMG KPMG has announced the appointment of Phil Abram as chair for its London region practice. Phil will work closely with management teams to oversee operations and drive the growth strategy across the five offices which make up KPMG’s London region, (Cambridge, Norwich, Gatwick, Milton Keynes [...]
Lloyd’s of London insurer opens investigation amid ‘fresh harassment claims’ June 11, 2019 Tokio Marine Kiln (TMK), one of the Lloyd’s of London’s top insurance firms, is conducting an investigation amid claims two executives harassed colleagues. The claims deepen the scandal surrounding workplace culture at Lloyd’s of London. Allegations are believed to include one executive groping colleagues and making lewd sexual remarks. Another has been accused of stalking [...]
Saga shares rise as it partners with Goldman Sachs to offer savings products June 11, 2019 Over 50s insurance and tourism group Saga announced today it is partnering with Goldman Sachs to offer savings products to its clients. The move is part of a strategy aimed at turning the company around after a poor run of results. In April its shares dived 40 per cent after it warned that Brexit uncertainty [...]
Boris Johnson promises tax cut for 3m if he wins PM race June 10, 2019 Boris Johnson has promised to cut income tax for those earning more than £50,000 if he wins the Tory leadership race. Johnson said he would cut taxes for around 3m people by raising the 40p threshold from £50,000 to £80,000 if he becomes prime minister. “We should be raising thresholds of income tax – so [...]
Aviva pushes out female senior exec while on maternity leave June 10, 2019 Insurer Aviva has pushed out one of its most senior female executives while she was on maternity leave. Chief people officer Sarah Morris went on maternity leave last July and was put on gardening leave at the end of May, the Sunday Times reported. Aviva refused to comment on the circumstances of Morris’s departure. In [...]
Bank of England chief economist says UK rate rise is on the horizon June 8, 2019 The Bank of England’s chief economist, Andy Haldane, has said the UK is nearing the time it will need to raise interest rates to keep inflation pressures in check. Haldane wrote in The Sun on Saturday that “a lost decade” of wage growth is coming to an end ahead of “steady if not spectacular” growth [...]