How people in relationships spend almost £2,500 a year than their single friends June 5, 2015 They say it's better to have loved and lost than never to have loved at all – but it turns out that actually, if you're a perpetual singleton, your wallet will thank you. A new study from insurance comparison site Confused.com has found that those in relationships shell out an average of £2,340 a year. [...]
Lloyds Banking Group fined £117m for PPI failings by the FCA June 5, 2015 Lloyds has been fined £117m over its handling of Payment Protection Insurance claims – the largest ever handed out by the FCA in relation to PPI. "Whilst our intentions were right, we made mistakes in our handling of some PPI complaints," admitted Lloyds chief Antonio Horta-Osorio. The taxpayer-owned bank was found to have failed in [...]
City Moves for 5 June 2015 | Who’s switching jobs June 4, 2015 AIG The insurer has announced the appointment of Angus Marshall as mergers & acquisitions (M&A) manager for the UK. He joined AIG in 2013 as an M&A underwriter. Marshall has also held positions in PwC’s international tax and M&A practice and in Norton Rose Fulbright’s private M&A division. Edmond de Rothschild Philippe Jouard has been [...]
The City has no room for complacency about its global competitiveness June 4, 2015 Nearly 30 years of working in the City has taught me that successful times are the most dangerous times. Warren Buffett, in one of his recent newsletters, described the warning signs that see good times turn to bad as the ABC of business: arrogance, bureaucracy and complacency. Today, there is no room for complacency. The [...]
Net prophet: Jim Chapman is the biggest star you’ve never heard of June 4, 2015 Photography: Leigh Keily Styling: Ozzy Shah Jim Chapman has the kind of adoring fanbase usually reserved for musicians and sportsmen. He’s a darling of the fashion world, sitting on every designer’s front row. Yet if you’re over 25, chances are you’ve never heard of him. He achieved his fame through vlogging, uploading good-natured clips [...]
City Moves for 4 June 2015 | Who’s switching jobs June 3, 2015 PwC Gareth Lewis has been appointed director in PwC’s real estate practice. He has formerly worked as a consultant at EY and the Urban Land Institute. Lewis has also been a representative at the European Public Real Estate Association and the British Property Federation. JLT Re The reinsurance broking and consultancy firm has appointed Chris [...]
Greenhouse gas emissions fall as energy sector’s pollution drops by a third June 3, 2015 The UK's greenhouse gas emissions reached their lowest level in decades, according to the latest figures from the Office of National Statistics. In 2013, the UK emitted a total 643.1m tonnes of greenhouse gases, down two per cent on 2012's level. This was down on 24.5 per cent on 1991's high of 852.2m tonnes. The [...]
City set for a decade of job growth as finance and technology hiring to soar in London June 2, 2015 Booming finance and technology hiring will help create 145,000 new jobs in central London over the next decade in a sustained bounce-back from the financial crisis, according to a study out today from the City of London Corporation. The Square Mile can expect an additional 39,000 workers, with the remainder created across the other central [...]
Regulator warns insurers more care needed with outsourcing June 2, 2015 THE REGULATOR yesterday hit out at insurance firms’ approach to delegated authority agreements with intermediaries and brokers, and said that better due diligence and oversight of the arrangements is needed. The Financial Conduct Authority (FCA) reviewed the outsourcing arrangements of 12 insurers operating in the UK general insurance market, and also looked at 19 firms [...]
Caledonia nears deal to snap up Aegon and Zurich stake in Seven June 2, 2015 FUND manager Caledonia Investments is closing in on a deal to buy a majority stake in Seven Investment Management. Caledonia, which is 48.5 per cent owned by the illustrious Cayzers shipping family, is hoping to buy out insurance giants Aegon and Zurich Insurance, who own a controlling stake in the firm. The potential deal, which [...]