Unions slam government’s ‘appalling decision’ to award freeport contract to firm behind P&O Ferries sackings March 27, 2023 Trade unions have hit out at the UK government over its decision to let the company that owns P&O Ferries run the new Thames Freeport development – after the Dubai-owned shipping company “chose” to break the law by firing nearly 800 staff last year. TUC general secretary Paul Nowak slammed the government’s “appalling decision” to [...]
It ain’t easy being CZ: Binance chief sued by US regulator for alleged trading violations March 27, 2023 The chief of crypto exchange Binance has been sued by US regulators today for a slew of trading rule violations, including helping customers evade its own compliance controls.
After fining Deloitte £25m, China vows to discipline the Big Four March 27, 2023 China has vowed to toughen its stance towards the Big Four accounting firms after hitting Deloitte with a £25m fine for auditing failures. After meeting with Deloitte’s global chair Sharon Thorne, China’s Ministry of Finance (MoF) outlined plans yesterday to “strengthen” its supervision of the country’s audit sector by “strictly” enforcing “financial discipline.” China’s vice [...]
How a £50bn pension super fund with an appetite for UK innovation could help make the City great again March 27, 2023 The UK’s pension funds should pool their assets in a £50bn ‘future growth fund’ or more firms will continue to shun London and list overseas, the Lord Mayor of London has warned today.
City moves: Citi’s head of UK investment banking on the move March 27, 2023 Citi’s head of UK investment banking Andrew Truscott has been appointed CEO of John Laing Group. John Laing, which is backed by private equity firm KKR, is an investor and manager of core infrastructure assets. Truscott has been at Citi since 2018, and will join John Laing in early summer. Before joining Citi he spent [...]
Patriarchy, privilege and perspective: Male identity and the future of work March 27, 2023 | Sponsored DiverCity® Podcast · Patriarchy, privilege and perspective: Male identity and the future of work In this episode, host Julia Streets is joined by David Goldenkranz, Educator, DEI Facilitator, Coach and Consultant and Simeon Greaves, Wealth Manager at Coutts. Together they talk about leadership and where the power lies. In parallel, they discuss intersectionality through the [...]
The Notebook: Royal Mail, Succession and a fabulous rugby charity March 27, 2023 The Notebook is a home for musings and jottings on the Square Mile and beyond. Today, it’s Andy Silvester’s turn. ANOTHER day, another indication that Royal Mail’s future has got lost in the post. Only a fortnight after being referred to the regulator for “systemic letter delivery failures” – a task you’d probably describe as [...]
Airports and power stations to be hit hardest by business rates changes March 27, 2023 Airports, power stations and business headquarters are set to be hit hardest by property tax changes when new valuations come into force next week, according to research. Revenues from business rates – the property tax on commercial buildings – are expected to rise by £1.4 billion, or 4.9 per cent , to £29.9 billion when [...]
Skills shortage doubled since pre-Brexit and pandemic as four in five firms struggle to fill roles March 27, 2023 Four in five businesses are struggling to fill vacancies because of a lack of skilled workers – the highest number in 17 years, new research suggests. Employment group Manpower said the number of employers reporting skills shortages has increased six-fold over the last decade – and more than doubled since pre-Brexit and the pandemic. A [...]
Exclusive: Home REIT’s biggest tenant dished out £1.2m to bosses before bankruptcy March 27, 2023 The three bosses of Home REIT’s now-bankrupt biggest tenant pocketed over £1.2m last year even as the firm struggled to pay rent and slumped to a multi-million-pound loss, City A.M. can reveal. Gurpaal Judge, the chief of Wolverhampton-based social housing provider Lotus Housing, hiked his own and two directors’ pay to £1.2m in 2022 – [...]