City Moves for 18 November 2015 | Who’s switching jobs November 17, 2015 CAPITAL GROUP The investment management company has appointed Chris Miles as director, financial intermediaries. He joins from Fidelity Worldwide Investment, where he was associate director, wealth manager sales, responsible for the sales and relationship management of discretionary accounts. PwC The professional services firm has appointed Leo Ring and Hannah Carter to its pensions and investment [...]
HomeServe fixes up profit of £26.2m for 2015 half year results as customer numbers continue to rise November 17, 2015 HomeServe this morning revealed adjusted profit before tax of £26.2m for the six months ended 30 September 2015, up less than one per cent from £26m for the same period last year. However, adjusted profit before tax on a constant currency basis would have been £28m, an increase of eight per cent. Net debt for [...]
Gender pay gap: Women paid less than men in 90 per cent of sectors November 17, 2015 British women get paid a fifth less than their male counterparts – and new figures show that the finance and insurance sectors are the worst at closing the gender pay gap. The pay gap between men and women exists in 90 per cent of sectors, shows a study from the UK Commission for Employment and [...]
Global Terrorism Index 2015 mapped: Terror attack deaths and economic cost hit an all-time high as UK is hardest hit of any EU country November 17, 2015 The world is counting the cost of terrorism more than ever before in terms of both its economic impact and lives lost, new research reveals, as Europe continues to reel from France’s worst ever peace-time attack. The economic impact of terrorism across the globe reached $52.9bn (£34.8bn) in 2014, rocketing 60 per cent on the [...]
Japan recession: Has Abenomics failed? not quite November 17, 2015 The latest data from Japan revealed that the world’s third largest economy slipped back into recession in the past quarter, at least technically. Has Prime Minister Shinzo Abe’s “three arrows” plan to revive the Japanese economy – Abenomics – failed in spectacular fashion? Well, yes and no. MIXED PICTURE Let’s start with the economy. [...]
Paris attacks and the economic impact of terrorism: As France mourns the cost of terror keeps climbing November 17, 2015 The economic impact of terrorism across the globe reached $52.9bn (£34.8bn) in 2014, rocketing 60 per cent on the previous year and increasing ten-fold since the start of the century, according to the latest Global Terrorism Index. The figure is the highest since at least 2001, when it was calculated at $51.5bn following the 9/11 [...]
Autumn Statement 2015 predictions: Accountants say George Osborne needs to spare UK Plc November 16, 2015 A leading industry group is making a wide-reaching appeal to chancellor George Osborne, calling for him to spare British businesses in next week’s Autumn Statement. The Institute for Chartered Accounts in England and Wales (ICAEW) said the chancellor should “not introduce anything that will impact businesses” in the fiscal update, saying measures introduced in the [...]
Insurance Fraud Bureau: Crash for cash style fraud drops almost £60m in three years as criminals move onto new claims November 16, 2015 Crash for cash style fraud – where people stage motor accidents to claim fraudulently on insurance – has dropped by nearly £60m in the last three years, according to a report by the Insurance Fraud Bureau (IFB) released today. Figures from the fraud-fighting not-for-profit found that the total value of such scams is now worth [...]
Standard & Poor’s: Abrupt climate change could challenge insurance industry November 16, 2015 Insurers could be underestimating how climate change will affect their business, according to a study released today by ratings agency Standard & Poor’s. Miroslav Petkov, director, insurance ratings at Standard & Poor’s, said: “Our analysis indicates that insurers' capital management will be sufficient to manage the additional strain of a reduction of about 0.5 per [...]
UK pension freedoms could be costing people £104m, as they fail to shop around for the best annuity deal November 16, 2015 People who have purchased an annuity over the last six months without shopping around for the best deal are set to collectively lose out on £104m over the course of their retirement, according to figures released today by Retirement Advantage. The calculation was based on data collected for the first six months of pensions freedoms, [...]