Page 29 - Stephen Hester News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Important disclaimer   This press release and the associated conference call may contain 'forward-looking statements' with respect to certain of the Group's plans and its current goals and expectations relating to its future financial condition , performance, results, strategic initiatives and objectives. Generally, words such as "may", "could", "will", "expect", "intend", "estimate", "anticipate", "aim", "outlook", "believe", "plan", "seek", "continue" or similar expressions identify forward-looking statements. These forward-looking statements are not guarantees of futu...

Thomas Gottstein, Credit Suisse chief executive, has shown his hand. After sitting on the sidelines, observing a succession of large losses mostly gestated by his predecessor, Gottstein has finally dispensed with two of the people he previously favoured: head of the investment bank Brian Chin, and head of risk and compliance Lara Warner. The implication is that it takes Gottstein a long time to act, but he's pretty decisive about it when he does. "Serious lessons will be learned,” he declared sternly today. Serious lessons do indeed need to be learned. The list of losses during Gottstein's...

Who would have thought it? The dusty, slow to act, legalistic and over-cautious City regulator, the Financial Conduct Authority (FCA), daring to bring criminal money laundering charges against Natwest. The decision to steam ahead by fresh chief executive Nikhil Rathi indicates that regime change could mark a new era of activism. If that is the case then Neil Woodford, subject of a probe into the implosion of his investment empire, better look out. Even Greensill, which so far has managed to slip between the cracks in UK regulation of shadow banks, could be in the firing line. New sheriff in t...

Insurers Face Disputes with Their Reinsurers over UK COVID-19 Business Income Claims Top insurance companies, ordered by Britain’s highest court to pay thousands of small businesses millions of pounds in claims for COVID-19 disruption, are facing a battle with reinsurers over who should foot the bill, industry sources said. Bars, beauty parlors, nightclubs and other small companies in January won the right to business interruption insurance payments after senior judges ruled many insurance policies should cover losses caused by lockdowns in a test case brought by Britain’s market watchdog...

Insurers, reinsurers prepare for battle over UK COVID-19 business payments Reuters 3/11/2021 By Carolyn Cohn and Kirstin Ridley © Reuters/PHIL NOBLE FILE PHOTO: People walk past a mural amid the outbreak of the coronavirus disease (COVID-19) in Manchester By Carolyn Cohn and Kirstin Ridley LONDON (Reuters) - Top insurance companies, ordered by Britain's highest court to pay thousands of small businesses millions of pounds in claims for COVID-19 disruption, are facing a battle with reinsurers over who should foot the bill, industry sources said. Bars, beauty parlours, ni...