Standard Life Aberdeen sells insurance arm for £3.2bn February 23, 2018 Standard Life Aberdeen has sold its insurance arm to specialist insurer Phoenix in a deal worth £3.24bn. Phoenix will pay £2bn in cash and issue Standard Life Aberdeen with a 19.99 per cent shareholding. A dividend of £300m will also be paid to the FTSE 100 giant upon deal completion. The deal sees most of [...]
Five reasons to consider a Self Invested Personal Pension (SIPP) February 23, 2018 Almost everyone includes a comfortable retirement as one of their financial goals, and building up pension benefits is often a highly attractive means of achieving this. One pension option offering great flexibility is a SIPP (Self Invested Personal Pension). 1. Add to your savings pot with tax relief Investing through a pension scheme can be [...]
Standard Life Aberdeen share price jumps after selling insurance arm for £3.2bn February 23, 2018 Standard Life Aberdeen has sold its insurance arm to specialist insurer Phoenix in a deal worth £3.24bn. Phoenix will pay £2.28bn of cash and issue Standard Life Aberdeen with a 19.99 per cent shareholding. The deal sees most of Standard Life’s legacy insurance business handed over to Phoenix, allowing the merged company to focus on [...]
RSA share price rises more than three per cent as premiums and profits climb February 22, 2018 Insurer RSA reported an increase in premiums, profit and earnings for 2017, despite what boss Stephen Hester described as a tough period for the sector. The figures Premium income rose four per cent to £6.7bn, compared with £6.4bn in 2916. Underwriting profit increased to £394m from £380m and overall profit after tax grew to £322m [...]
How to plan a comfortable retirement February 22, 2018 Saving for retirement is essential if you want to fully enjoy your later years, but how do you assess how much income you will need? Plus how much do you need to save to reach your goals? For many people retirement seems a long way off and saving into a pension isn’t always seen as [...]
AA share price crashes: Can new boss Simon Breakwell get road recovery giant the AA back on track after a series of setbacks? February 22, 2018 Shortly after the AA’s float back in 2014, boss Chris Jansen handed the reins over to Bob Mackenzie, a man he had referred to only weeks earlier as an “elder statesman”. Mackenzie was credited at the time with driving through the AA’s innovative management-buyout-cum-stock-market listing, a manoeuvre backed by big-name investors including Neil Woodford and [...]
Bank of America extends lease on London headquarters for another 10 years in commitment to UK post-Brexit February 21, 2018 Bank of America has extended the lease on its City headquarters by a decade in a sign the lender is committing to the UK with Brexit looming. A spokesperson confirmed to City A.M. today that the bank had extended its lease by 10 years to 2032, with Britain set to leave the EU in 2019, [...]
Lloyds share price rises after profits increase: Here’s how the analysts reacted February 21, 2018 Lloyds Banking Group today bombarded investors with a rise in profits which nevertheless missed estimates, a £1bn share buyback, and a £3bn investment programme as it unveiled its new three-year strategy. Shares rose by two per cent at the time of writing. Read more: Lloyds profits jump despite increased PPI bill Read more: Lloyds announces [...]
4.7-magnitude earthquake rocks Britain: Eyewitnesses describe “loud bang” as Wales bares the brunt of tremors February 17, 2018 A 4.7-magnitude earthquake has rocked parts of Wales and western England. The seismic event took place shortly after 2.30pm today. The epicentre was just 10km from Swansea but shocks were felt from Cornwall to Blackpool. There are currently no reported casualties Over 1,000 people have contacted the European-Mediterranean Seismological Centre (EMSC) to provide testimonies. Map [...]
Kanye West and Lloyd’s of London settle $10m lawsuit over cancelled tour dates February 15, 2018 Kanye West and Lloyd’s of London insurers settled their $10m (£7.1m) lawsuit this week, after the lawyers of both parties requested the California judge to settle the case. The dispute started August 2017 after West fell ill and cancelled the remaining 21 stops of his Saint Pablo Tour in 2016. He checked into the UCLA [...]