UK pension changes prove positive for insurance group LV as half year profit jumps September 9, 2015 Insurance group LV reported a 103 per cent jump in operating profit during the first half of the year, a period in which the firm said it had altered its offering to suit changing customer needs. Group operating profit was up to £79m in the six months to 30 June, from £39m in the [...]
EU data boost FTSE amid hope for China upturn – London Report September 9, 2015 The UK’S top share index rallied yesterday, extending its gains from the previous session with a boost from better-than-expected Eurozone second quarter GDP data and hope for further market stimulus on Chinese markets. The FTSE 100 was up 1.2 per cent at 6,146.10 points at the close, lagging blue-chip German stocks. The European Union’s statistics [...]
Mergers and aquisitions defy stormy global financial markets as M&A deals involving UK firms jump past £260bn September 9, 2015 Businesses pushed ahead with billions of dollars’ worth of mergers and acquisitions (M&A) yesterday, unperturbed by recent volatility that has shaken global markets. Deals involving UK firms jumped past the $400bn (£260bn) mark for the year to date as takeover Tuesday gripped the City. PaddyPower and Betfair agreed a £6bn merger; Cinven revealed [...]
Durham, Exeter and St Andrews: These are the university where students get most for their money September 8, 2015 Out of the top 20 universities in the UK, Durham is where students' money goes the furthest, according to research by Moneysupermarket. By looking at a series of living costs, including rent, average price of a pint and cost of car insurance, they found that students at this northern university were most likely to [...]
Lloyd’s of London insurer Amlin share price rockets 33 per cent as Mitsui Sumitomo swoops for £3.5bn September 8, 2015 Following July's takeover of the Financial Times by Nikkei, another Japanese giant has swooped on a British company, after the board of Lloyd's of London insurer Amlin recommended an £3.5bn offer by Mitsui Sumitomo. In a statement today, Amlin said Mitsui had offered 670p in per share, a 36 per cent premium to Amlin's closing [...]
RSA Insurance Group’s share price climbs as it sells Latin America business to Suramericana for £403m September 8, 2015 Insurance group and takeover target RSA has sold its Latin American arm for £403m cash. The business, which is currently being wooed by Zurich, has inked the deal with Suramericana, the insurance subsidiary of Grupo de Inversiones Suramericana – more commonly known as Grupo Sura. RSA Latin America had total assets of £1.34bn [...]
Winners and losers of Living Wage campaign – The City View September 7, 2015 The problem with nuance and complexity is that they get in the way of simple government announcements. Take, as a prime example, the debate around the national minimum wage (NMW). The Low Pay Commission (LPC) was created in 1998 to offer independent advice on the NMW – precisely because politicians were deemed incapable of resisting [...]
City Moves for 8 September 2015 | Who’s switching jobs September 7, 2015 Arbuthnot Latham The private banking and wealth management arm of the Arbuthnot Banking Group has appointed Stephen Fletcher as head of commercial banking. He was most recently at Coutts & Co, where he was a managing director. Fletcher has over 25 years’ experience in commercial banking and wealth management. Macfarlanes Stephen Robinson has been appointed [...]
NHS GP charges: Switzerland shows why charging to visit a doctor needn’t be politically toxic September 7, 2015 The economic case for user charges in healthcare is easily explained. A well-designed system of charges for people accessing services can encourage cost-consciousness and reduce overuse. If people had to pay a share of their healthcare costs out of pocket, they would start asking their GPs (and other sources of information) about whether a [...]
City Three Peaks challenge: Bosses getting high in September abseiling challenges September 7, 2015 Abseiling is the sport of the moment in the Square Mile, it seems – with 40 bosses and chiefs attempting to conquer London's skyline today as part of the City Three Peaks challenge. A select group of daredevil directors and bosses from SVG Capital, insurers Amlin and Lloyds secured the chance to abseil down the entire [...]