Latest news with #AXA
Business Insider
4 days ago
- Business
- Business Insider
Genworth upgraded to Outperform from Market Perform at Keefe Bruyette
Keefe Bruyette upgraded Genworth (GNW) to Outperform from Market Perform with a price target of $9, up from $8.50. The company could potentially recover $500M, or $1.25 per share, related to a European payment protection business it previously sold to AXA, and a counter lawsuit between AXA and Santander, the analyst tells investors in a research note. The firm says a ruling is expected mid-to-late summer, and proceeds could total as much as 15%-20% of Genworth's market capitalization. In addition, Genworth currently trades at a 22% discount to its implied sum-of-the-parts with no lawsuit recovery, greater than the 15% average discount since mid-2023, notes Keefe. Confident Investing Starts Here:
Daily Mail
6 days ago
- Business
- Daily Mail
Stagflation threat returns as Israel-Iran conflict sparks fears oil price could spike above $120
There are growing fears of another energy driven inflationary shock the economy, as oil and gas prices continue to climb in response to Israel's conflict with Iran. Oil prices were more subdued on Monday, trading at $73.52 a barrel, after trading as $78 in the wake of Israel's initial strikes on Iranian target and the subsequent retaliation from Tehran that threatens to destabilise energy markets in the region. Markets fear the conflict hurt energy supply, particularly if there any disruption to the Strait of Hormuz, a key transit chokepoint responsible for a third of global seaborne oil and 20 per cent of liquified natural gas. If the straight between the Persian Gulf and the Gulf of Oman is compromised, oil prices could be driven 'upwards' of $120, according to analysts at Lazard Geopolitical Advisory. 'Even in the absence of a Strait closure, oil markets will see continued volatility as the risk of a disruption evolves,' they said. Brent crude prices are still down by around 11 per cent over the last year amid increased OPEC+ supplies and weaker global economic growth. And oil prices are substantially below levels seen after Russia's invasion of Ukraine led to a global inflationary spiral. Gilles Moëc, AXA group chief economist, said lower oil prices 'have been one of the very few tailwinds benefiting the world economy recently', but escalating conflict in the Middle East puts this at threat. He added: 'There are two parameters which we will closely monitor to assess the risk of a persistent oil shock: how Gulf states – and particularly Saudi Arabia – position themselves on oil supply, and the likelihood of a disruption in oil flows through the Strait of Hormuz.' The UK imports much of its energy. British businesses rely on imported oil for transportation and energy, so higher oil prices can be a major driver of inflationary pressure. Chancellor Rachel Reeves on Sunday admitted that higher energy prices are a 'cause for concern'. Thomas Pugh, economist at RSM UK, said: 'A rough rule of thumb is that a $10/bl rise in the price of a barrel of oil eventually adds 0.1 per cent to inflation as higher fuel prices make their way through the system. 'Natural gas prices have also risen [in response to the Israel-Iran conflict], but by a slightly smaller amount. 'The most immediate impact will be on prices at the pump. A $10/bl rise in oil prices will probably result in a 5p increase in pump prices over the next couple of months.' Higher oil prices will also give the Bank of England pause for thought on the outlook for interest rates as it has to balance rising inflation with deteriorating economic output. The bank is set to keep base rate on hold at 4.25 per cent later this week but investors have been pricing up to two more cuts of 25 basis point each this year, taking the rate to 4.75 per cent. Pugh added: 'The big risk is an escalation that disrupts energy supplies from the region, which sends energy prices much higher. 'In that case, a rerun of the 2022 energy crisis would be possible with higher interest rates and another bout of stagnation or even recession.' The potential impact of further escalation, according to Lazard Geopolitical Advisory.
Zawya
13-06-2025
- Business
- Zawya
El-Khatib reviews AXA Egypt's future investment plans
Arab Finance: Minister of Investment and Foreign Trade Hassan El-Khatib and AXA Egypt's Chairman Hassan El Shabrawishi reviewed investment opportunities in Egypt's insurance sector, according to a statement. The two sides discussed ways to strengthen Egypt's position as a major hub for the insurance sector in Africa. El-Khatib stressed the state's interest in developing the insurance sector, given its vital role in stimulating the investment environment. He highlighted the importance of integrating advanced digital solutions and effective governance into this promising sector, boosting the efficiency of services provided to citizens and investors alike. On his part, El Shabrawishi indicated that AXA is mainly focusing on the Egyptian market, outlining the company's future expansion plans. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Daily Mail
11-06-2025
- Entertainment
- Daily Mail
EXCLUSIVE Josie Gibson buys million pound mansion in Bath after living in a caravan and working as a cleaner
When Josie Gibson first started working, she lived in a caravan. As a call centre worker for insurance firm AXA in Bristol she earned around £10,000 and topped her income with a sideline as a cleaner. But 15 years on and the television presenter is worth around £1m and has splashed out on a stunning £1.1million mansion in Bath - ten miles from where she grew up. Now a much loved This Morning host and star of the 2023 series of I'm A Celeb, she has spent her riches on the four-bedroom, three-bathroom cottage on the outskirts of the historical city is set on three acres and also has a conservatory and outbuildings where she will live with her seven-year-old son Reggie. She also has big plans for the property. She has already submitted a planning application for 'erection of two storey side extension, entrance and single storey extension with balcony and new first floor and roof for annex building'. A friend of the star told The Mail: 'Josie is the fairytale rags to riches story. 'She used to live in caravan, she had very little but she has transformed her life thanks to her bubbly personality. She went out to the jungle so the fee from that would have helped to the house, for sure.' Josie, 40, rose to fame 15 years ago when she won the reality television show Big Brother. She won the 11th series in 2010 after getting into a relationship with housemate John James Parton. The couple later appeared in a one-off fly on the wall show following their lives together called Josie and John James: What Happened Next, before later splitting up. Josie quickly carved out a career as a TV personality, appearing in 2011 in her own three-part reality TV series There's Something About Josie. She joined ITV's This Morning as a competition announcer in 2019 and became a presenter in 2021. Before she became famous after appearing in Big Brother in 2010, she used to earn money by cleaning people's shoes and catching the bus around her local town trying to sell the product. In a far cry away from her usual glitzy TV appearances, she then moved on to grease the inside of washing machine bins in a factory before landing her job at AXA. A friend of the star told The Mail: 'Josie is the fairytale rags to riches story. 'She used to live in a caravan, she had very little but she has transformed her life thanks to her bubbly personality. She went out to the jungle so the fee from that would have helped to the house, for sure.' Josie found love during her time in the Big Brother house with Australian housemate John James Parton but they split a year later. In 2018 she welcomed her son Reggie with her now ex-partner Terry Bond and bought a £550,000 house in her home city of Bristol where she grew up in 2022.
Wales Online
10-06-2025
- Health
- Wales Online
Family of man who fell seriously ill during Cyprus holiday face £41k bill to get him home
Family of man who fell seriously ill during Cyprus holiday face £41k bill to get him home Ian Wright's family initially thought he had food poisoning Sarah and Ian Wright (Image: Submitted - Sarah Wright ) A family is grappling with the potential cost of over £40,000 to get a seriously ill man home from Cyprus for medical treatment in the UK. Ian Wright, 47, from Cramlington in Northumberland, fell seriously ill while watching a Newcastle match with friends during a holiday in Tala, near Paphos. Originally thinking it was food poisoning, Sarah Wright witnessed her husband's condition quickly decline, leading to a diagnosis of acute pancreatitis with necrosis after admission to a local clinic. Since May 30, Ian has been receiving critical care, including dialysis and multi-organ support, at Nicosia General Hospital. His mother, Monica Muckle, 67, rushed to Cyprus and has been by his side since May 22, desperate to bring him back home. The private jet required for Ian's safe return, staffed by a medical team, comes with a quote of £40,995. For our free daily briefing on the biggest issues facing the nation, sign up to the Wales Matters newsletter here With funds depleting as they extend their stay in Cyprus, Monica shared with Chronicle Live her heartache at the prospect of leaving Ian behind. She said: "We are absolutely heartbroken because if we have to go home on Monday, he's here on his own. Monica and Ian at Ian and Sarah's wedding (Image: Submitted - Sarah Wright ) "The thought of it is just horrendous. He knows we're there, and the thought of going in on Sunday and saying to him we've got to go home and not even be able to tell him that he's going to be following us because we just don't know." Article continues below Ian and Sarah, who hold an annual travel insurance policy, faced a setback when Ian's failure to disclose his medical consultations for high blood pressure and high uric acid in the UK led AXA, their travel company, to refuse the payout. Their plight prompted Sarah's friend and colleague, Lucy Wareing, to initiate a GoFundMe campaign which has successfully gathered nearly £9,000. Initially aimed at covering the family's costs in Cyprus, the focus shifted to conserving funds for Ian's repatriation once the gravity of his situation became apparent. Monica, speaking on behalf of the family, said: "We're trying to keep hold of money we have got from the fund. "We want him home and we don't want to be spending money that's going to go towards helping him to get home." The family is exploring the possibility of utilising Ian's workplace pension to help with repatriation expenses, although they are uncertain about the timeframe for accessing these funds. Monica has been tirelessly working into the early hours to reach out to charities, despite most offering assistance primarily to families of deceased individuals abroad. In addition to their own efforts, the family is receiving support from the British Consulate in Cyprus, which is aiding with language barriers and providing updates from the hospital. Reflecting on the ordeal, Monica said: "As you get older, you realise how important it is to put things like that on the travel insurance. We're not holding out any hope where that is concerned. "We're not trying to scrounge, that's why we're looking into the pensions because if we can get that, maybe it won't be enough for all of it, but it could cover a fair proportion and maybe we can crack on getting family and friends to help us a bit more. "We don't want to beg for money, we want to be able to get the money through whatever ways we can. We're still having to take it a day at a time, but we just want him home." Article continues below
