The social changemaker: Unforgettable founder James Ashwell on jigsaws, BP and changing the world for people with dementia December 6, 2015 When James Ashwell was 24 years old, working for Accenture in London, he got a phone call telling him his dad was dead. “I remember literally falling to the floor; it took all the wind out of me. I put on my coat and that was it. I ended up never going back.” It wasn’t [...]
Storm Desmond flooding: As claims creep in, insurers assure consumers they are already ready for winter’s bad weather December 6, 2015 The Association of British Insurers (ABI) reassured consumers on Saturday that the industry had been braced for bad weather. “Insurers expect bad weather during the winter and will be geared up to help customers who have suffered flood and storm damage recover as quickly as possible,” remarked Malcolm Tarling, a spokesperson for the ABI, in a [...]
Storm Desmond Carlisle floods close United Biscuits’ McVities factory as army drafted in and Cobra meeting called to handle flood fallout December 6, 2015 The Carlisle factory of United Biscuits, maker of McVities chocolate digestives and other biscuits, has flooded after storm Desmond wreaked chaos across the north of England. Read more: Insurers already ready for bad weather and Storm Desmond The factory in Church Street, Caldewgate is flooded by water more than a metre high, and staff have been told to remain at home, according to reports. [...]
Bank of England approves 19 insurers’ solvency II models for capital ratios ahead of EU 2016 rules, including Aviva, Prudential and Lloyds of London December 6, 2015 Several of Britain's biggest insurance firms, including Aviva, Prudential and Lloyds of London have been given the thumbs up by the Bank of England for new rules governing how much capital they should hold. The Solvency II capital rules which come into force across the EU from the start of next year, mean insurers are able [...]
Cumbria, Appleby and Keswick flooding: UK weather warnings issued as Storm Desmond hits December 5, 2015 Parts of the UK were plunged into chaos today as Storm Desmond swept across the country, bringing heavy rain, gale force winds and flooding. There have been 26 severe flood warnings, indicating a danger to life, issued by the Environment Agency. Read more: Insurers already ready for bad weather and Storm Desmond And the Met Office issued its highest red warning for [...]
Countdown to Christmas 2015: Seven losers of the year featuring Sepp Blatter, Ukip and the England rugby team December 5, 2015 For every glorious sporting triumph, history-making achievement, scientific breakthrough, artistic masterpiece or political triumph achieved in 2015, there has been a fall from grace to go with it. Whether it's an ousted president, collapsed share price or corporate disaster, for this lot, 2016 can't come soon enough. Read more: Beer, burritos and gifs: This was crowdfunding in 2015 [...]
JD Wetherspoon share price rises despite warning customer details stolen in cyber attack December 4, 2015 Pub chain JD Wetherspoon has said that the personal details of more than 650,000 customers may have been stolen in a cyber attack, and a small portion of this included credit card data. For the majority of customers no financial data was stolen, and no passwords were obtained. However, the last four digits of around 100 customers' credit [...]
The UK’s financial services sector paid more than £66bn in taxes last year – PwC and City of London Corporation December 4, 2015 New figures out today show that the financial services sector contributed more than £66bn in taxes last year, amounting to 11 per cent of total government tax receipts. A new report from the City of London Corporation and PwC, based on a survey of 48 of the Square Mile’s largest firms, reveals that the financial [...]
Star Wars economics: How destroying the Death Star created a financial crisis across the Galactic Empire after Return of the Jedi December 3, 2015 Luke Skywalker, Han Solo and the rest of the Rebel Alliance may have triumphed in defeating the Galactic Empire's overlord Lord Palpatine, but with freedom would have come financial collapse. As government infrastructure projects go, Death Stars are rather pricey. The cost of building two – both destroyed within four years by the end of Return of the Jedi – stands [...]
Financial Conduct Authority proposes last year’s insurance premium information should be published on renewal documents December 3, 2015 The Financial Conduct Authority (FCA) published proposals today that would require general insurance providers to include details of last year’s premium on customer’s renewal documents. The proposals are designed to address concerns that some customers might be getting a bad deal by sticking with the same company. “We hope the proposals encourage more people to [...]