Insurer Hiscox is first tenant for tallest City of London skyscraper at 22 Bishopsgate August 6, 2018 The City’s tallest skyscraper has landed its first tenant as plans for a global insurer to take a 19-year lease in the building were unveiled today. Hiscox hopes to occupy three floors of the building at 22 Bishopsgate, known as Twentytwo, once construction is set to be completed late next year. The 62-storey building is [...]
Last Week in the City: Trade fears re-emerge August 3, 2018 Garry White, chief investment commentator, looks at the market-moving events that have shaped the UK equity markets this week (30 July to 3 August 2018). Interest rates were raised in the UK for the second time since the financial crisis, but the move was widely expected. The earnings season continued. Growth in all regions was [...]
RBS declares first dividend in a decade August 3, 2018 RBS declared an interim dividend of 2p, pending the settlement with the US Department of Justice (DoJ). This announcement was a pleasant surprise, and projects a positive image about the firm’s financial health. The UK government is a majority shareholder in the bank, and the dividend will be welcomed by Westminster, but the pay-out will [...]
Rise in weather related claims makes dent in Aviva’s first half profits | City A.M. August 2, 2018 Insurer Aviva said profits took a slight dip in the first half of 2018 as business was hit by divestments, weak earnings in its Canada division and a rise in weather related claims. The figures Operating profit was down two per cent to £1.4bn – excluding disposals it rose four per cent to £1.4bn. It [...]
Co-op Group looks to sell off insurance division for £300m | City A.M. August 1, 2018 The Co-op Group is looking into selling off its general insurance operations for a sum of around £300m. Investment bankers from Fenchurch Advisory Partners have been brought in to advise the company on potential options for its insurance business. The Co-op division, which made £11m in underlying profit last year, has started to approach potential [...]
Eight retirement planning traps and how to avoid them July 26, 2018 1. Not reviewing your pensions It is important to review your pension situation regularly. If you find you have a shortfall, you may still be able to take steps to increase the chances that your pension pot will be able to achieve the income you want when you retire. The Money Advice Service has a [...]
Mission Impossible: Fallout review: The stupidly fun sequel takes the franchise to brilliant new heights July 26, 2018 Whatever Scientology-grade embalming fluid they’re submerging Tom Cruise in every evening, it’s doing the trick. In the sixth and best entry in the Mission Impossible franchise, Hollywood’s most successful stuntman once again defies his advancing years, charging headlong into some of the series’ most beautifully constructed and brilliant set pieces yet. Cruise hurls himself [...]
Firms cough up as much as £100,000 and perks to keep EU workers after Brexit | City A.M. July 25, 2018 British firms are coughing up as much as £100,000 in pay rises, bonuses and even school fees to keep hold of top EU workers, a new study suggests. According to a survey of 1,000 HR directors conducted by law firm Migrate UK, six in 10 companies have paid additional incentives since the Brexit vote to [...]
Exclusive: The government is working on a social care insurance scheme following last year’s ‘dementia tax’ row July 25, 2018 The government is working on a new plan to address the escalating cost of social care, as it tries to shrug off the spectre of its proposed “dementia tax” – a policy that provoked a furore during the Conservatives’ disastrous 2017 General Election campaign. City A.M. understands that a set of proposals are being readied [...]
Motor insurers vote to share risk for terrorism following 2017 London car and van attacks in Westminster, London Bridge and Finsbury Park | City A.M. July 23, 2018 Motor insurers have today confirmed plans to pool risk for terrorist attacks involving vehicles after London was hit with three fatal incidents in 2017. Members of the Motor Insurance Bureau (MIB), which is an industry body that acts to compensate the victims of uninsured drivers, have voted to place responsibility for compensating victims of vehicle-related [...]