Roundup Newswires

Editor Brian Harrod Provides Comprehensive up-to-date news coverage, with aggregated news from sources all over the world from the Roundup Newswires Network

Lloyd’s moves to cancel insurance cover of Russian firms hit by sanctions

Posted on March 24, 2022 by Admin

Action comes as Lloyd’s of London returns to profit but warns Ukraine war will present ‘major claim’

• Russia-Ukraine war: latest updates

Lloyd’s of London has said it is working with the UK government to implement sanctions imposed over the war in Ukraine as fast as possible, including cancelling Russian firms’ insurance cover.

Announcing a swing back to an annual profit as it recovers from the pandemic, the world’s biggest insurance market warned that the war will present a “major claim” for the insurance market this year, but said it was “manageable”.

Barclays, HSBC and Lloyds among UK banks that had links to slavery

Posted on June 18, 2020 by Admin

Many bank directors received compensation after slavery was made illegal in 1833

The slave trade was abolished in the British Empire in 1807 but it was not until 1833 that the Slavery Abolition Act finally banned the ownership of other human beings. However, 46,000 slave owners continued to benefit financially as the subsequent Slave Compensation Act provided £20m in payments – a sum worth billions in 2020 terms. Despite the name of the act, the former slaves were not compensated.

University College London’s Legacies of British Slave Ownership project shows that 10% to 20% of Britain’s wealthy can be identified as having had significant links to slavery. The amount of money borrowed to pay off slave owners was so large that the government only repaid it fully in 2015. Companies with links to slavery in their past include: