FTSE 100 history: how the index has changed over 33 years July 3, 2017 The FTSE 100 index has just seen one of its quarterly changes with security firm G4S and real estate investment trust Segro promoted to the top 100. Although perhaps small in themselves, these regular events have changed the face of the UK’s leading index since it was formed in 1984. For the many investors whose [...]
The new voice of British banking: UK Finance launches today with new board members revealed July 3, 2017 The British finance industry will be publicly represented from today by a single new body, UK Finance, after the merger of six separate lobby groups. The new body, which officially starts operations today at Angel Court, behind the Bank of England, will represent over 300 British firms providing credit, banking, markets and payments services. The [...]
Firms could be shocked at financial fallout from Petya and Wannacry cyber attacks, warns Lloyd’s of London June 28, 2017 Firms could be shocked at the cost of cyber attacks, such as yesterday’s Petya ransomware hack, with one of the City’s oldest financial institutions warning the reputational fallout is “what kills modern businesses”. Lloyd’s of London said today businesses need to prepare themselves for “slow burn” costs that follow cyber attacks such as reputational damage, [...]
Global cyber attack hits UK firms as WPP reports hack June 27, 2017 A massive cyber attack which has hit a number of institutions in Ukraine appears to be spreading across Europe. Several firms, banks and government offices in Ukraine began to report attacks earlier today caused by ransomware named “Petya”. London-based advertising giant WPP has reported problems with its IT systems caused by a “suspected cyber attack”, [...]
A fintech cluster greater than the sum of its parts June 26, 2017 One of Europe’s largest financial centres and an international technology hub, Edinburgh will play a leading role in driving the UK’s £20bn fintech industry and shaping a fast-moving global industry. Edinburgh’s financial credentials are beyond question. As the UK's second largest financial services centre, and the fourth largest in Europe, the city claims the lion’s [...]
Why divesting from tobacco stocks is pointless virtue signalling June 26, 2017 This week marks the 10 year anniversary of the smoking ban in England, and tobacco is once again making headlines. Not content with the government prohibiting smoking in public places, various funds and companies have bought into the ludicrous divestment movement which seeks to bring down industries by trading their shares. The Guardian started the [...]
Prudential-backed ‘profit with purpose’ firm LeapFrog makes $180m investment in Ghanaian insurer June 23, 2017 LeapFrog Investments, the emerging markets impact investment firm whose tagline is “profit with purpose”, has made its largest investment to date in a Ghanaian insurer. The $180m (£141.35m) cheque was the largest ever written by LeapFrog, and came from the firm’s $350m Strategic African Investments fund in which global insurance firm Prudential is the primary [...]
Pride in London 2017: Barclays leads host of Britain’s biggest firms in support of LGBT+ event June 23, 2017 City stalwarts and some of the UK’s largest companies have rallied in support of Pride in London 2017. A raft of the great and the good from the corporate world have stepped up to sponsor the event. Barclays is one of two headline sponsors together with the Mayor of London office. This year’s event takes [...]
Republicans unveil a nonsensical healthcare reform bill to replace Obamacare June 23, 2017 Nobody knew that healthcare could be so complicated,” Donald Trump declared, 38 days into his presidency. His party has been having similar difficulties. After seven years of vocally opposing Obama’s Affordable Care Act (ACA), Republicans found at the start of this Congress that designing a replacement that slashes taxes while keeping the current system’s most [...]
Queen’s speech: Here’s the full text, featuring a flurry of Brexit bills June 21, 2017 The much-anticipated Queen's speech for 2017 has been delivered, outlining Theresa May's plans and her pledge to win "the trust and confidence" of the British people. Below is the full text of the speech. The Queen's speech 2017 My Lords and Members of the House of Commons. My government’s priority is to secure the best [...]