The Irish border issue tells us what the British government wants from Brexit December 7, 2017 You have to feel a bit sorry for Mrs May. By Monday lunchtime she must have felt convinced she had achieved something that had appeared to be impossible, by settling the Irish border question. It seems almost unthinkable that she would have struck a deal that saw regulatory alignment between the Republic of Ireland and [...]
Bitcoin bubble: 82 per cent of UK institutional investors say bitcoin is going to pop December 7, 2017 A new report has revealed a huge majority of UK institutional investors think bitcoin represents an unsustainable bubble. Bitcoin has soared to unbelievable heights this year. In the past week alone, it rose more than $5,000 to reach an all-time high of more than $15,000. As its value skyrockets, so do analyst murmurings of tulips [...]
Legal and General digital chief Maarten Ectors on why fintech startups shouldn’t be focused on disruption December 7, 2017 Fintech startups should concentrate on solving the problems currently faced by business, Legal and General’s digital chief has said. But they are often concentrating on finding solutions further along the horizon, said Maarten Ectors who joined the FTSE 100 insurer five months ago. Read more: A Wikipedia co-founder wants to put knowledge on the blockchain [...]
HSBC’s second largest shareholder revealed as Chinese insurance giant Ping An December 6, 2017 Chinese insurance giant Ping An today emerged as HSBC’s second-largest shareholder. A regulatory filing revealed Ping An had snapped up a chunk of shares taking it over a regulatory threshold. The insurer increased its interest in Britain’s biggest bank from 4.96 per cent to 5.01 per cent. Ping An’s £7.3bn stake makes it HSBC’s second-largest [...]
Saga share price drops as it expects full-year profits to be hit by the collapse of Monarch Airlines December 6, 2017 Over-50s insurance specialist Saga has warned that underlying profits will grow at a slower than expected rate this year and will be around five per cent lower next year following the collapse of Monarch Airlines. Saga’s underlying profit before tax growth is expected to be between one and two per cent for the year to [...]
The DIY pension: Tips for selecting your Sipp December 6, 2017 Freedom has been the buzzword in the pensions world for years now, after the government decided to shake up the industry back in 2015. For many savers wanting to embrace their newfound freedom, a self-invested personal pension – or Sipp – is the perfect answer. Rather than relying on an insurance company to make investment [...]
Barclays chairman John McFarlane: Moving euro clearing away from London threatens global financial services December 6, 2017 Moving euro clearing away from London could send shockwaves across the global financial community, forcing up transaction costs and causing capital requirements headaches, one of world banking’s most influential voices has warned. Speaking at TheCityUK annual dinner at London’s Plaisterers’ Hall, chairman John McFarlane said Brexit in March 2019 is a reality that needs to [...]
Data is the fuel for AI, so let’s ensure we get the ethics right December 4, 2017 Data is the propulsive energy behind the fourth industrial revolution – playing the same role as coal, oil and electricity did in the previous revolutions. Artificial intelligence (AI) is the new engine, just as the railways connected north and south, roads and cars connected our cities, and electrification lit up our homes and allowed domestic [...]
Aetna agrees $69bn takeover by US pharmacy giant CVS Health December 3, 2017 US pharmacy giant CVS Health has agreed to pay $69bn (£51bn) for health insurer Aetna in the year’s biggest corporate transaction, it was confirmed late tonight. Aetna shareholders will receive $207 per share through a combination of cash and CVS Health shares after the company’s board gave the deal the thumbs up on Sunday. Aetna [...]
FCA head Andrew Bailey calls for Brexit transition arrangements between UK and EU November 29, 2017 The head of the Financial Conduct Authority has urged the UK and the EU to outline a transition agreement as soon as possible. Speaking to a Lords sub-committee today, Andrew Bailey said he was not hopeful the government would achieve a signed agreement, but some form of commitment would be important. Read more: German central [...]