London will remain a world-leading city because of its world-beating talent September 12, 2016 When people think of London, our city’s iconic buildings, red buses, black taxis, and vibrant cultural scene often come to mind. But the capital offers so much more than that, with PwC finding in a recent report that London, for the second year in a row, is the world’s number one place for companies to do [...]
Go Compare to go its own way in Esure demerger September 11, 2016 Go Compare will be spun off from its parent company, Esure, in a £500m demerger to be announced this week, according to reports. Sky News reported this evening the board of insurance group Esure will approve the deal to offload Go Compare and make a formal announcement to the stock market within the next few days. The move follows [...]
Driverless cars could spell disruption for unprepared insurers as motor insurance premiums fall September 11, 2016 INSURERS need to prepare for the potential disruption – and opportunities – arising from driverless cars according to Aon Benfield, the global reinsurance intermediary of insurance giant Aon. “Adoption of autonomous vehicles will of course be affected by many variables such as regulatory challenges, cost to the consumer, safety, vehicle ownership preferences, and the technology [...]
Beta version of pensions dashboard due by next March after Treasury signs agreement with 11 largest insurers September 11, 2016 A prototype of the government's long-awaited pensions dashboard is due to be ready by March next year, after the UK's biggest pension providers gave the project a green light. The Treasury has secured an agreement from the 11 groups, including Aviva, HSBC, Royal London, Standard Life and Zurich, to build the prototype, while the Association [...]
Philip Hammond has warned against attempts to lure key financial services sectors to mainland Europe after Brexit September 8, 2016 Chancellor Philip Hammond has hit back at Francois Hollande after the French president suggested that euro clearing could move to Continental financial centres in the aftermath of Brexit. Just days after Britain voted to leave the EU, Hollande said that “other financial centres in the bloc'” should prepare to carry out euro clearing if Britain [...]
Senior bankers are pushing the government to bring in transitional measures for Brexit, and warning of a “cliff edge” of disruption September 7, 2016 Britain's bankers are pushing for transitional arrangements to soften the impact of Brexit. Banks are currently adopting a “wait and see” approach on whether to remain in the UK, according to the chief executive of the British Bankers' Association, but Browne said that transition measures could soften uncertainty and the risks of a “cliff edge” of [...]
Rent growth continued to slow in August September 7, 2016 Rents kept on an upwards climb in August, but the pace of rent growth is slowing. In August, prices grew by 3.1 per cent year-on-year, according to HomeLet's rental index. Tenants signing new agreements paid an average £913 a month. Read more: Here's where private rents are increasing fastest (and it's not London) But this [...]
City passporting rights must be at the top of the government agenda on Brexit talks, according to an influential think tank September 7, 2016 City passporting rights must become the government's first priority following Brexit, according to an influential think tank, which also argues that London can remain Europe's leading financial services centre. A paper from the Margaret Thatcher founded Centre for Policy Studies today argues that while Brexit will bring challenges for the UK's financial services industry, it [...]
London backed to retain world-beating status as city for opportunity after Brexit September 7, 2016 London has retained its status as the world’s greatest city for opportunity, and will hold on to the top spot if it seizes the chances presented by Brexit, according to an in-depth study published this morning. For the second year running, London beat the likes of New York, Beijing, Singapore and Tokyo, to top a global [...]
Does the government think Single Market membership is “highly improbable”? It depends who you ask… September 6, 2016 Confusion has broken out over the government's stance on Single Market membership after Downing Street refused to back the Brexit minister's views on Europe. Brexit minister David Davis made his first ministerial statement since being appointed May's secretary of state for exiting the European Union yesterday. And responding to a question from former small business [...]