Swiss insurance group Zurich Financial Services has said that damage caused by Hurricane Katrina in the US will cost it about $600m (341m) in claims.
However, Zurich cautioned that the final amount could yet change.
Some analysts say the total damage caused by Katrina could cost the insurance industry $60bn as a whole.
“The task of estimating Katrina […]
BBC Radio 4’s Money Box has been named Financial Programme of the Year at a prestigious ceremony in London.
Money Box Presenter Paul Lewis collected the award at the Association of British Insurers (ABI) event on Wednesday.
Other nominees in the Financial Programme or Broadcaster of the Year category were the BBC’s Andrew Verity and Declan Curry.
The […]
Chris was a regional BBC radio journalist in Devon and Oxfordshire before joining BBC Business Programmes in London in 1996.
Since then he has produced or presented various network radio programmes including BBC Five Live’s Wake Up to Money, Moneycheck and Financial World Tonight.
From 1998 to 2000 he worked on setting up and establishing […]
Royal Bank of Scotland made bumper profits of 3.38bn during the first half of 2004 and has bought US banking business Lynk for $525m (288m).
With pre-tax profits up 17% to 3.38bn, the bank said it was confident to sustain growth following past year’s string of high-profile takeovers.
But RBS stayed on the sidelines of the Abbey […]
Former Manchester City player Ray Ranson says he has made an offer to buy the Premiership club.
Ranson, who is a former City full-back, has yet to receive a response from the club’s board and is currently considering making a further proposal.
Multi-millionaire Ranson, 46, is said to have made a 90m offer for the club.
City, whose […]
India has urged US business leaders to up investment in the country, stressing that foreign capital has a key role to play in its economic development.
Finance minister P Chidambaram said India needed US money, technology and management expertise to help it fulfil its true growth potential.
The two nations discussed ways of deepening economic ties on […]
BBC Radio 4’s Money Box has been named best financial programme for the second year in a row at a top awards ceremony.
Money Box presenter Paul Lewis was also honoured, winning the prestigious Lifetime Achievement award for Financial Journalism.
The ABI (Association of British Insurers) awards are held each year in London to “celebrate excellence in […]
More than a million government employees have taken part in a one-day strike in India.
Work in many government banks, offices and state-owned firms was affected.
Communist-ruled West Bengal and Kerala states were hardest hit by the strike, which was more limited in other parts of the country.
Unions called the walk-out in protest at a Supreme Court […]
David Severn is head of retail projects at the FSA and the man responsible for the new framework.
“We’re talking about a document that doesn’t just apply to independent financial advisers, it applies to any firm which is giving financial advice like banks or insurance companies.”
“What we’re trying to do here is to give the […]
Finance Minister Lord Rooker has attempted to defend the latest rates rises in Northern Ireland.
Rates bills have gone up by an average of 12% and local politicians have said the increases are unreasonable.
Callers to several BBC programmes have been highly critical of the increases. However, Lord Rooker said the government had no option.
“It is […]
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