Saga shares rise as it partners with Goldman Sachs to offer savings products June 11, 2019 Over 50s insurance and tourism group Saga announced today it is partnering with Goldman Sachs to offer savings products to its clients. The move is part of a strategy aimed at turning the company around after a poor run of results. In April its shares dived 40 per cent after it warned that Brexit uncertainty [...]
Welcome aboard the Amore Mio, a 7,620 horsepower luxury sports yacht with more toys than Hamleys June 10, 2019 Luxury journalism: It won’t make me a billionaire, but I do get to act like one on occasion. The 45-metre Amore Mio is one of the largest and most powerful ‘sports’ yachts in the world, and it isn’t available for charter. Instead, its owner – who shall remain nameless but, predictably, he’s Russian and in [...]
France consider selling Renault stake to aid Nissan alliance June 8, 2019 France is ready to cut its stake in Renault in order to help the car company consolidate its partnership with Nissan. The state currently owns a 15 per cent share in Renault, but French finance minister Bruno Le Maire is ready to reduce that if it leads to a “more solid” alliance between the firms, [...]
Square Mile gears up for luxury summer car show June 2, 2019 Thousands of City motorheads are gearing up for a luxury car show in the Square Mile later this week. FTSE bosses, top investors and even a mystery rockstar are on the guest list for this year’s London Concours event, where over a hundred iconic cars worth in excess of £70m will be on display. Read [...]
Insurer Direct Line suffers as premiums drop in a competitive market May 8, 2019 Shares fell at Direct Line this morning as the insurer faced lower gross written premiums in the first quarter of the year. The measure fell 2.1 per cent to £753.9m, driven by a 4.2 per cent contraction in the UK’s largest motor insurance unit to £386.9m. Read more: FTSE 100 insurer Direct Line posts drop [...]
Car sales fall as removal of subsidies and Brexit take toll May 7, 2019 The number of new cars registered in the UK fell 4.1 per cent in April compared to the year before, as demand among consumers shrank, according to official figures released today. Read more: Brexit stockpiling slowdown hurts UK manufacturing growth Meanwhile, registration of new plug-in hybrids declined dramatically, falling 34.4 per cent year-on-year. The drop [...]
Online car dealer firm Auto Trader announces board shakeup with retirement of CEO April 29, 2019 Online car ad group Auto Trader has promoted its finance boss as its new chief executive following the decision of the incumbent Trevor Mather's decision to retire. Mather will retire from the positions of CEO and director on 31 March 2020, allowing Nathan Coe, who is the current chief operating and financial officer, to take [...]
Is Uber the new Amazon? April 2, 2019 By Edmond Jackson from interactive investor. In a test of narrative power versus whopping financial losses, so-called “ride-hailing” or “ridesharing” giants Uber and Lyft have rivalled each other to list on the New York Stock Exchange – Lyft got there first. Both capture the spirit of the times, connecting taxi drivers to passengers via their [...]
Direct Line operating profits slip as it warns on impact of no-deal Brexit March 5, 2019 Direct Line posted a fall in full-year earnings this morning, with the blue-chip insurer striking a cautious tone over threats of a "disruptive Brexit". In outgoing boss Paul Geddes’ final annual results statement for Britain's largest motor insurer, operating profits dipped during the 12 months and the total dividend payout was slashed. "The increased focus on [...]
Ex-Which magazine director joins Financial Conduct Authority board March 4, 2019 The former executive director of Which magazine, Richard Lloyd, will become a non-executive director of the UK’s Financial Conduct Authority (FCA) from 1 April, it was announced today. His term at the FCA, which is the independent conduct regulator for 58,000 financial services firms and financial markets in the UK, will last three years. Read [...]