Amber Rudd’s WhatsApp encryption remarks: Here’s how experts in tech, policy, intelligence and security reacted March 27, 2017 Amber Rudd has sparked concern by suggesting that WhatsApp, the Facebook owned messaging service, should give access to encrypted communications to security services (read more about it here). The remarks came in the wake of the terrorist attack on Parliament and the revelation that the attacker, Khalid Masood, sent a WhatsApp message shortly before. Experts [...]
Here’s why fintech will make banks stronger March 22, 2017 Fintech’s early stages have been all about small startups taking on the banking goliaths, but the next phase will see the more established players getting a piece of the innovation game. Brian McCabe, who chairs the fintech working group at the Fintech and Payments Association of Ireland, says existing banks and financial players won’t get [...]
How does a city like New York tackle renewable energy storage? March 20, 2017 Sustainable CUNY has published a roadmap through which they believe it is possible for New York City to reach its energy storage targets, utilising resilient solar technology. Resilient solar differs from traditional solar in that it can function during normal grid operations, but also when the electric grid is down. The model has been fitted [...]
Aberdeen Asset Management and Standard Life set out co-chief executive plans for “team players” Martin Gilbert and Keith Skeoch March 20, 2017 Aberdeen Asset Management and Standard Life have set out a plan for how their chief executives will both lead a merged company. After the £11bn merger was announced earlier this month, there had been City concerns about how, and whether, the co-chief exec structure could work in practice. They said today that Standard Life’s Keith Skeoch [...]
Melrose executives set to reap the rewards of increasing shareholder value March 19, 2017 The top brass at engineering turnaround specialist Melrose Industries are in line for one of largest paydays of any FTSE 100 company, according to reports. Executives are to receive around £206m according to information obtained by Sky News. A five-year bonus scheme was approved by shareholders in 2012 and details of the payouts will be laid out in [...]
GKN considers debt raise in order to manage £2bn pension shortfall March 19, 2017 Engineering group GKN is preparing to go to debt markets to raise £200m in an attempt to placate the trustees of its pension scheme, according to reports. The FTSE 100 group is in the middle of a three-yearly review of its pension scheme with 2016 accounting valuations revealing its deficit had swelled by £475m over the last 12 months to [...]
FTSE 100 falls off record highs to end the week March 17, 2017 The UK's bluechip index fell off a record high in late afternoon trading, but nevertheless ended the week almost 100 points up. The FTSE 100 finished at 7,423.6 points, 0.1 per cent higher. Both risers and fallers were a mixed bag, with insurer Admiral Group leading the way, rising 1.8 per cent to 1,941p, followed by healthcare [...]
Slew of insurance deals are on the cards for 2017 as Solvency II bites March 17, 2017 Dealmaking in the insurance sector will shift into top gear in 2017 as the need to set aside regulatory capital "forces companies to grow or go", according to a report by experts. Nearly all firms (94 per cent) surveyed by accountancy firm KPMG expect to make at least one divestiture during 2017, with the lion's share (84 [...]
Driverless cars will leave a big dent in the insurance industry according to the Bank of England March 17, 2017 The adoption of driverless cars will leave a massive dent in the car insurance market, according to the Bank of England, forcing insurers to team up with car firms as they transform their business. Economists at the Bank say their central forecast is for the UK motor insurance market to contract by 21 per cent [...]
City Moves – who’s switching jobs at Legal & General, Northern Trust and Jackpotjoy March 17, 2017 Today's City Moves cover insurance, wealth management and online bingo. Take a look at these movers and shakers: Legal & General Legal & General has appointed Dharshini David as corporate affairs director. Dharshini will take up the appointment at the end of March and will report to group CEO, Nigel Wilson. She will be responsible [...]