Dubai court upholds extradition of British financier accused of £1.4bn tax fraud April 4, 2023 A court in Dubai on Monday rejected the appeal of a British financier fighting extradition to Denmark, where he is accused of orchestrating a 1.7 billion US dollar (£1.4 billion) tax fraud. Hedge fund trader Sanjay Shah is accused of masterminding a scheme that ran from 2012 to 2015 in which foreign businesses pretended to [...]
Nigel Lawson and the City: If you seek his monument, look around April 4, 2023 The modern City of London simply would not exist without the reforms driven through by the late Nigel Lawson
FTSE 100 close: London’s premier index falls as strong performance for miners not enough to tip market into green April 4, 2023 The FTSE 100 closed lower on Tuesday as markets ran out of steam despite a strong performance from many of the index’s mining giants. The capital’s premier index closed 0.5 per cent lower at 7,634.52 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, ended [...]
Australia follows UK, US, Canada and New Zealand in banning TikTok from government devices April 4, 2023 Australia has become the last of the Five Eyes security partners to ban the Chinese-owned video-sharing app TikTok from its federal government’s devices. Attorney-General Mark Dreyfus said in a statement on Tuesday that based on intelligence and security agencies’ advice, that ban would come into effect “as soon as practicable”. The so-called Five Eyes intelligence-sharing [...]
Rathbones partners up with Investec Wealth to create £100bn money manager April 4, 2023 Rathbones has snapped up Investec's wealth arm today in a move which will create one of the UK's top money managers with £100bn assets under management.
Over 50s take to the waves once more as cruise and insurance giant Saga’s revenue boosted by 50 per cent April 4, 2023 Over 50s specialist Saga boosted its revenue by more than 50 per cent on last year, as older and middle-aged Brits returned to cruises and holidays post pandemic. Shares in the company were up almost three per cent this morning, as it announced 2023 earnings of £581m for the year ended January 31, up from [...]
Has Branson’s satellite dream been grounded? Virgin Orbit files for bankruptcy in the US April 4, 2023 Sir Richard Branson’s satellite launch firm Virgin Orbit has filed for Chapter 11 bankruptcy in the US after failing to secure rescue funding. It comes after a Virgin Orbit rocket failed to complete the first satellite launch from UK soil in January. On Tuesday, the business lodged a filing with the US Bankruptcy Court for [...]
Royal London snaps up Aegon’s protection business, adding 400,000 customers to its books April 4, 2023 Royal London, one of the UK’s largest life, pensions, and investment mutuals, has snapped up Aegon UK’s individual protection business. The acquisition, which is subject to court approval, will see the transfer of 400,000 customers’ life insurance, critical illness and income protection to Royal London. Barry O’Dwyer, group chief executive of Royal London said: “We [...]
‘Worse than the pandemic’: Pub bodies warn of closures as energy bills relief scheme ends April 4, 2023 Hospitality bodies have warned that business failure is worse now than it was during the pandemic as the sector braces itself for the first month of trading following the end of the government’s energy bill relief scheme. “We’re seeing an acceleration of business failure which is now worse than the pandemic,” Emma McClarkin, chief executive [...]
London AI firm Quantexa becomes first ‘unicorn’ of 2023 after $129m funding boost April 4, 2023 London-based artificial intelligence (AI) start-up Quantexa has become the first new British ‘unicorn’ of the year today after closing a $129m funding round at a valuation of $1.8bn.