London market News

London Workers Seek Assurance Transport System Is Safe Before Returning to Offices

Workers in the City of London need to have greater confidence that traveling on the capital’s public transport system is safe before they will return to their offices amid “mixed messages” from officials, financial industry representatives said. More than 80% …

Some Facts About London’s Role in Insuring the Slave Trade

London is facing up to its role in insuring the slave trade as part of a sweeping global reassessment of history and racism. This reappraisal was triggered by the death of George Floyd, a black man who died after a …

When UK Insurers, Banks Emerge from Lockdown, Their Employees Face New Normal

Limits on elevators, thermal imaging and temperature checks will greet a first wave of traders and bankers in Britain preparing to return to offices under new norms to tackle the coronavirus. Britain’s financial sector is working to bring staff back …

Fitch Revises Outlook for London Insurance Sector to Negative on COVID-19 Impact

Fitch Ratings has revised its outlook for the underlying fundamentals of the London market insurance sector to negative from stable. The sector outlook revision reflects increased concerns over the COVID-19 disruption and the related impacts on the credit quality of …

Growing Exodus of Workers from City of London Cripples Small Businesses

At lunch hour, James Leahy’s Burrito Joe stall in the City of London’s financial district is usually buzzing as people line up from around the corner for their fajitas, tacos, quesadillas and rice-and-meat bowls. Now, those same finance sector employees …

Lloyd’s Market Association to Close Office in Response to COVID-19

The Lloyd’s Market Association (LMA) is closing its office from Tuesday March 17 until the end of March in response to the COVID-19 outbreak. While its “Work From Home Business Continuity Plan” is operational and the office is closed, the …

Private Equity Firm KKR Shuts London Offices on Employee Diagnosis of Coronavirus

Private equity firm KKR & Co Inc. said late on Monday an employee in its London office had tested positive for coronavirus, and that it would temporarily close both its London offices to have them sanitized. “Our London office has …

European Banks, Lloyd’s of London Develop Coronavirus Contingency Plans

Global banks and small investment firms in Europe are urging staff to work from home and curb travel as the financial industry braces for disruption from the rapidly spreading coronavirus outbreak. For many companies it will be a first-time experiment …

UK Financial Services Could Fare Less Well in U.S. Trade Deal than Energy, Cars

Britain’s financial services industry could fare less well than energy, autos and other sectors under a free trade deal with the United States, the government said on Monday. Britain said in its negotiating mandate for a free trade agreement (FTA) …

Britain’s Insurance Sector Urged to Compete by Selectively Diverging from EU Rules

A senior official from Britain’s insurance sector on Wednesday laid out the case for selective divergence from EU rules to add to London’s appeal as a competitive global financial center. Britain left the European Union on Jan. 31 and will …