Three things you need to know before going freelance: Save enough money to live for two months and don’t burn bridges November 11, 2015 The idea of going freelance is exciting, daunting, empowering and also very popular. The ONS reports that the number of UK freelancers is at an all-time high, with 4.6m people working as freelancers in 2014, many of them professionals. Setting out on your own offers a real sense of freedom, and greater control over your [...]
Poundworld secures £50m loan from Santander to fund its expansion November 10, 2015 Poundworld has secured a £50m loan from its banks to help fund its expansion, just months after private equity firm TPG snapped up a majority stake in the bargain chain. The value retailer said the five-year loan provided by Santander Corporate Bank will help the group meet its target of opening 60 new stores a year across the UK on top of [...]
Almost half of UK millennials can only blindly guess at the amount they need in their pension pot November 10, 2015 Retirement needs seem to be something of a mystery for today’s youngsters. According to a study released today by bank BNY Mellon and students from Cambridge Judge Business School, 42 per cent of UK millennials calculate the size of the retirement fund based on a blind guess. A further 51 per cent admit to employing [...]
Competition and Markets Authority finds a lack of price competition in private healthcare in central London is “harming customers” November 10, 2015 A lack of price competition in private healthcare in central London is “harming customers”, the Competition and Markets Authority has provisionally found after an appeal by HCA International Limited. The CMA has found that the market share of HCA International, together with high barriers to entry and expansion in central London have resulted in weak [...]
The government’s Help to Buy scheme almost doubles number of high loan-to-value mortgages with five per cent deposits for first-time buyers November 10, 2015 The government's Help to Buy mortgage guarantee scheme has almost doubled the number of high loan-to-value mortgages, for buyers who only have a five per cent deposit. The number of 95 per cent loan-to-value mortgages (LTV) issued, for buyers who need to borrow 95 per cent of property's value for a mortgage, increased by nearly [...]
Russia’s insurers are too driven by the motor market – S&P Emerging Market Insurance Forum November 9, 2015 Russia's insurance industry is overly dependent on motoring, creating problems as the market goes into decline, according to research from Standard & Poor's (S&P). At an emerging market forum hosted by the ratings agency this evening, the audience were told that motor hull was responsible for 22 per cent of insurance premiums in 2014, more than [...]
Insurers to announce Indian investment plans during Narendra Modi’s UK Visit November 9, 2015 A number of insurers will announce this week that they are planning to pour money into Indian investments. The announcement will coincide with Indian Prime Minister Narendra Modi’s visit to the UK. Aviva, Bupa, Lloyd’s of London, Standard Life and Willis will confirm collect plans to put money into Indian joint ventures and partnerships, Sky [...]
City Moves for 10 November 2015 | Who’s switching jobs November 9, 2015 BNP PARIBAS INVESTMENT PARTNERS The asset management division of BNP Paribas has announced the appointment of Laurent Gueunier as head of alternative debt management. He joins from Axa Investment Managers, where he was head of structured finance. Gueunier has also worked within structured credit at JP Morgan and began his career within commodities trading at [...]
Zurich announces plans for 440 UK job cuts November 9, 2015 Zurich Insurance will cut 440 jobs in the UK as part of plans to simplify its operating structure, it announced today. The company said the UK insurance market had become steadily more challenging, with low investment returns and increasing loss trends creating the headwinds which have accelerated in recent months. Feedback from brokers and customers said a more straightforward business [...]
Scalpel tower in the City appoints CBRE as leasing agents as search for tenants kicks off November 9, 2015 CBRE has been hired as leasing agents on the Scalpel skyscraper in the City, as the search to find tenants for the 35-storey development in London’s insurance district gets underway. The property advisory firm will partner with Cushman & Wakefield, filling the gap left by the latter’s merger with DTZ, the previous joint agent. The 190m-tall [...]