By Nicholas Earl A rival supplier has slammed the two prospective bids for fallen firm Bulb Energy (Bulb), labelling them a “significant risk to all energy bill payers.” It has told City A.M. it wants both Octopus Energy (Octopus) and Ovo Energy (Ovo) …
Insurance sector’s hard-nosed approach sees surge in High Court battles
By Louis Goss A hard-nosed approach towards paying out on policies, particularly in relation to Covid-19 business interruption claims, has led to a surge in lawsuits being filed against the UK’s insurers, new research shows. The number of High Court la…
BlackRock raises £4bn for new climate fund amid fossil fuel criticism
By Charlie Conchie BlackRock said it had raised $4.5bn (£3.97bn) for a new climate infrastructure fund today as it looks to ramp up investment in the net zero transition amid criticism of its decision to continue backing oil and gas firms. The world’s …
HSBC profits tumble $2.3bn as French sale hits bottom line
By Charlie Conchie HSBC’s profits plunged over 40 per cent in the third quarter of the year as it was hit by rising loan losses and hefty charges relating to the sale of its French retail business. Reported pretax profits at the bank plunged to $3.15bn…
‘Formula 1 must keep safety at its core after FIA findings from Japan’
By Matt Hardy As public attention shifts from the US Grand Prix – won in the final stages by Max Verstappen – to the Mexican Formula 1 Grand Prix, which takes place on Sunday, it’s imperative that systems are in place to prevent operational decisions t…
MPs slam ‘short-sighted and incredibly damaging’ tax-free shopping u-turn
By Emily Hawkins Cross-party MPs have warned that a u-turn on tax-free shopping for overseas tourists is “short-sighted and incredibly damaging” as the tourism sector hopes to recover post-Covid. In a new report, the Digital, Culture, Media and Sport (…
Former Google boss says regulation must focus on choice rather than tech interference
By Leah Montebello Former Google ads boss said the government needs do more to restrict market dominance, but shouldn’t interfere too much with how the tech ecosystem actually works. Speaking with City A.M., former Silicon Valley exec turned search-eng…
Fireblocks launches digital asset payments engine with FIS as new pilot partner
By Darren Parkin Blockchain platform Fireblocks has launched its Payments Engine suite. The suite’s tools are designed to enable payment service providers (PSPs) with the ability to provide a blockchain agnostic, end-to-end solution for merchants, entr…
UK finance at the ‘front of the peloton’ on climate, says Carney
By Charlie Conchie UK financial firms are at the “front of the peloton” on climate standards and the rest of the world will follow suit, the former Bank of England governor Mark Carney said today. Carney, now UN Special Envoy on Climate Action and Fina…
Stay focused on funding deal, says outgoing TfL commissioner Andy Byford
By Ilaria Grasso Macola The new TfL management team needs to stay focused on the government’s long-term funding, according to outgoing commissioner Andy Byford. Byford – who will step down at the end of today after two years at the public body’s helm –…