Forget baby boomers and millennials, it’s Generation X that’s shaping the fate of companies in Europe August 26, 2016 Sandwiched between the headline-grabbing millennials and baby boomers, Generation X is sometimes overlooked. But according to Hugo Scott-Gall of Goldman Sachs Research, understanding what drives the decisions of the group born between 1965 and 1980 is essential, not least because the cohort has hit its peak spending power and accounts for over 25 per cent [...]
We should regionalise immigration decisions – starting with a London visa August 26, 2016 Londoners voted if not resoundingly, then certainly confidently, for remaining in the EU. And in the wake of the result, a determination has emerged to assert that London is open – a statement at once defiant and optimistic, and grounded in culture as much as in economics. Around 850,000 Londoners were born in another EU [...]
Pharma firm Mylan boosts support for Epipen after US pricing backlash August 25, 2016 US drugmaker Mylan has promised to make its emergency allergy drug Epipen more affordable after criticism over price hikes. The cost of a standard two-pack of Epipens has risen to around $600 (£455) from $100 in 2009. The on-going debate in the US over drug pricing focused on Mylan this week after US presidential hopeful Hillary [...]
Don’t fall for the Uber hype – London needs a common sense approach to taxis August 25, 2016 The lavishly resourced Uber PR machine has cranked into gear once again – with a blizzard of activity attempting to obstruct Transport for London's eminently sensible new rules for regulating the taxi industry in London. Quite why Uber are huffing and puffing as much as they are is anyone’s guess: TFL – the industry's regulator – [...]
The Spanish economy keeps growing as investment and household spending strengthen August 25, 2016 The Spanish economy grew by a faster rate than expected in the second quarter of this year, driven by increased investment and an uptick in household spending. Gross domestic product (GDP) grew by 0.8 per cent, up 0.1 percentage points from initial estimates. This is the same rate of growth Spain has seen in each quarter over [...]
Royal Bank of Canada bumps up dividend as income increases August 24, 2016 Royal Bank of Canada (RBC) has today announced a boost to its income, along with a slightly sweeter dividend for its third quarter of its financial year. RBC revealed net income of CA$2.9bn (£1.7bn) for the three months to the end of July, an increase of 17 per cent on CA$2.5bn the year before. Meanwhile, diluted earnings per share were reported [...]
Italy earthquake leaves at least 120 dead August 24, 2016 A deadly earthquake rocked central Italy overnight leaving an unknown number of people trapped beneath rubble. The 6.2 magnitude quake – which struck at 3:36am local time 65 miles north-east of Rome – has left at least 120 people dead and many more missing, as rescuers search for survivors. The army was mobilised to help with special heavy equipment and the [...]
Accountant who defrauded UK insurance trade body is jailed for 18 months August 24, 2016 A financial controller who defrauded his employer to the tune of almost £25,000 has been jailed for 18 months. Gurmukh Shehri, 33, from Woolwich, was sentenced at the Old Bailey after pleading guilty to six counts of fraud by abuse of position, which occurred between November 2013 and November 2015. He was given 18 months in [...]
Londoners – and men – think they are worth more than everybody else August 24, 2016 Londoners think they are worth twice as much as everybody else, according to innovative new research. Pollsters Opinium surveyed 2,000 people across the country for insurance group LifeSearch to find out how much people think their assets are worth, combining this with their average annual salary and the financial value they place on their out-of-work activities such as [...]
Falling ratios are far from critical according to Fitch August 23, 2016 A top ratings agency has given the UK's life insurance firms a vote of confidence, despite recent tough market conditions. The fall in bond yields over the first half of 2016 may be squeezing solvency ratios at Britain's leading life insurance companies but the decline is not enough to worry ratings agency Fitch, which said they "remain strong". Under Solvency II, insurers [...]