Legal & General says it will double new business sales in retirement division in 2016 September 27, 2016 Legal & General said today that it's on track to double new business sales in its retirement division, with sales currently at £5.4bn – compared with £2.9bn for last year. The group said its retirement business "continues to experience strong growth in pension de-risking and lifetime mortgages," and demand has not been hindered by the introduction [...]
Meet the Pikes: The brothers who gave up corporate jobs and first-home deposits to launch SuperCarers September 26, 2016 For brothers Adam and Daniel Pike, business is about personal passion as well as profit. Two years ago, they launched SuperCarers, an online solution to placing carers for the elderly in the home. “Our grandma needed care. The quality wasn’t good enough and it was too expensive. So our mum ended up being the primary [...]
London mayor Sadiq Khan writes to Uber and other private hire drivers setting out his commitment to the industry September 23, 2016 London mayor Sadiq Khan has written to tech firm Uber in response to its email campaign about the future of the capital's taxi and private hire industry. Transport for London (TfL) plans to introduce new rgulations for the sector including a requirement that private hire vehicles have "hire and reward" insurance in place for the duration of the licence, [...]
Gender is secondary at Walmsley’s GSK September 23, 2016 If the patient isn't responding, change the medicine: that's been the crude, but long-running, summary of some investors' prescription for Britain's biggest pharmaceuticals group. So for GlaxoSmithKline (GSK) investors, the least important aspect of Emma Walmsley's appointment as its next chief executive is her gender. That doesn't make it unimportant, of course: as the global [...]
City finance jobs tumble after Brexit vote September 23, 2016 Job openings in the City dried up over the summer as finance firms put hiring on hold while they assess the damage of the UK's vote to leave the EU, according to new research. The number of advertised vacancies in financial services dropped by 13.6 per cent in the capital in July and August, according [...]
More staff than ever are working on fintech at the City regulator September 22, 2016 The City regulator's team of staff working with fintech startups has grown tenfold in the last two years, it's been revealed, as it increasingly looks at the implications of technology on finance. The Financial Conduct Authority's (FCA) Project Innovate scheme, which kicked off in 2014, now has more than 20 staff focused on the crossover [...]
Lloyd’s of London could announce Brexit restructure plans before Christmas September 22, 2016 Specialist insurance market Lloyd's of London is close to announcing whether it is considering relocating part of its operations if the UK loses vital passporting rights as a result of the Brexit vote. Chairman John Nelson told City A.M. he was "hopeful" the UK could strike a deal with the rest of the EU to preserve the [...]
Brexit fears overshadow latest Lloyd’s of London results September 22, 2016 Insurance behemoth Lloyd's of London has issued another stark warning over the fallout from the UK's vote to leave the EU as its underwriting profits slipped in the first six months of the year. Update: Lloyd's of London's chairman has told City A.M. it will announce whether it will relocate following the Brexit vote The [...]
The City is mobilising itself for Brexit talks to safeguard the future of the capital September 22, 2016 One of the more memorable lines from the referendum campaign came courtesy of Leave campaigner Michael Gove. In front of a live audience, Faisal Islam of Sky News reeled off a list of experts who had made dire economic predictions regarding the implications of a vote to Leave. “The IMF, the IFS, the CBI… why [...]
Should a pay rise be enough to keep you in a job you don’t enjoy? September 22, 2016 With summer over and work beginning in earnest once again, you may have begun to reflect on whether you’re truly happy in your current role. Perhaps you’re not finding the work meaningful anymore. Perhaps you feel at odds with your company’s strategic direction. Or maybe you just don’t feel like you fit with the culture. [...]