After the Nvidelity comes the Huangover. Jensen Huang joins long list who confused boardroom and bedroom
Wimbledon prize money: Andy Murray and Milos Raonic go head-to-head for £2m earnings boost July 10, 2016 Both Andy Murray and Milos Raonic can pocket the biggest prize of their career to date with victory in the Wimbledon men's singles final today. This year's champion will receive £2m, making it the richest men's final in the competition's history. The loser gets to console himself with a £1m pay cheque — the first time the All England Club has offered the runner-up a seven [...]
Unintended consequences: Tinkering with Solvency II July 8, 2016 Tinkering with things is in the nature of regulators. Inevitably, however, well-intentioned tinkering often delivers unintended consequences. Today, the unintended consequences of tinkering are emerging in London’s international specialty insurance market, notably following Solvency II, which specifies the amount of capital that insurance companies must hold to reduce the risk of insolvency. While the impact of the EU referendum [...]
Axa says so long to Serbia with sale to Vienna Insurance Group July 7, 2016 Axa will be saying farewell to Serbia shortly, after the insurer announced today that it had agreed to sell its operations in the country. The Paris-headquartered company said in a statement that it had entered an agreement to sell both its life and savings and its property and casualty operations in Serbia to Vienna Insurance Group (VIG). The move [...]
One analyst thinks sterling could reach parity against US dollar July 7, 2016 Sterling could be on course to reach its lowest ever level against the dollar if the country does not sort out the political crisis and secure a good deal with Europe, a leading economist has warned. The chief economic adviser to insurance giant Allianz, Mohamed El-Erian, said the pound is "facing a double whammy" of [...]
City Moves for 7 July 2016 | Who’s switching jobs July 7, 2016 Marsh Insurance broker Marsh has appointed Jeremy Cooke as vice chairman of global placement. In his new role, Jeremy will focus on critical growth areas including complex market negotiations on facilities, quota shares and key accounts. He was previously head of placement for Marsh’s international division. Prior to joining Marsh in 2003, he held senior executive positions at insurers in the US and [...]
Arthur J Gallagher snaps up majority stake in Swedish Brim July 6, 2016 US insurer Arthur J Gallagher & Co has today purchased an 85 per cent interest in a Swedish speciality insurance broker Brim. The value of the deal was not disclosed by the companies. "For many years, we have had a successful correspondent trading relationship with Brim, during which time we developed strong working relationships with [...]
The best holiday and travel tech: Enhance your galavanting with these essential gadgets July 6, 2016 Bluesmart One Suitcase technology seemed to grind to a halt shortly after we stuck wheels on them, but Bluesmart has just booted your luggage into the 21st century. The Bluesmart One suitcase has global GPS tracking thanks to a built-in SIM card, a battery charger for your devices, can tell you how heavy it currently [...]
One in ten renters are charged unexpected costs by their landlords July 6, 2016 Renters are being saddled with unexpected rental costs as landlords charge them for maintenance repairs and flood damage without giving any warning. Research from Endsleigh shows over on in ten (14 per cent) tenants are being charged unexpected costs averaging £165.41 per person each year. Seventy per cent of those surveyed said they did not [...]
George Osborne should turn attention from cutting corporation tax to helping smaller businesses July 6, 2016 The Chancellor’s biggest ever policy U-turn appears to have snuck under the radar amid the political resignations, betrayals and leadership bids currently dominating the headlines. On Sunday, Mr Osborne announced that he plans to cut corporation tax to less than 15 per cent in an effort to attract companies deterred from doing business in a [...]
Aviva to pay half of earnings back to shareholders from 2017 July 6, 2016 Insurance giant Aviva plans to increase its dividend payout to shareholders, it told investors this morning. Ahead of its capital markets day, the UK’s second-largest insurer by market capitalisation said it planned to increase its payout ratio to 50 per cent in 2017 from its current level of 42 per cent. The announcement comes as positive [...]