Gambling: TonyBet fined nearly £443,000 for failing to implement anti-money laundering rules January 18, 2023 TonyBet has been slapped with a £442,750 fine and warned about its failure to have fair and transparent terms, and for failing to follow social responsibility and anti-money laundering rules, the Gambling Commission said. The operator – which operates tonybet.co.uk – will also have to undergo a third-party audit to assess whether it is effectively [...]
Carillion: Five years on, MPs and industry leaders demand audit reform to ensure scandal is not repeated January 18, 2023 On the fifth anniversary of the collapse of outsourcer Carillion, MPs and audit sector leaders have united in calling on the UK government to push forwards with plans to overhaul the country’s audit sector. MPs said a shake-up of the country’s accounting industry is needed imminently to ensure that audit failures, such as the one [...]
Grant Shapps to outline new ‘scale up’ vision for Britain at Davos lunch January 18, 2023 Grant Shapps is set to outline a new plan to ‘scale up’ British businesses in Davos this week, City A.M. understands. In a video seen by City A.M. ahead of Shapps’ trip to the Swiss mountain town for the World Economic Forum, the business secretary says: “When I pack my luggage, I won’t just be [...]
Industrial strategy? Britishvolt and OneWeb prove markets are usually best left alone January 17, 2023 The name of the Department for Business, Energy and Industrial Strategy can leave economists of a certain ilk cold – particularly the last two words. In the UK’s political zeitgeist, industrial strategy has been closely tied to the dreaded concept of picking winners – with the government standing accused of picking individual sectors and indeed [...]
The Notebook: Neil Bennett’s Davos dispatch January 17, 2023 The Notebook is a place for interesting people to say interesting things. Today it’s the turn of Neil Bennett, Global Co-CEO of communications advisory giant H/Advisers – writing on Ukraine in Davos, Manchester United’s bold marketing strategy and why the Swiss town remains the place to be I am in Davos this week to host [...]
Bringing cake into the office is as bad as passive smoking, food regulator warns January 17, 2023 Bringing a cake into the office is as bad as subjecting others to passive smoking, the country’s chief food regulator has said. In an interview with The Times, Professor Susan Jebb said that bringing treats and snacks into the office wasn’t creating a “supportive environment” for people looking to lose weight. “With smoking, after a [...]
Corporate insolvencies surge as firms struggle to survive harsh economic climate January 17, 2023 The number of company insolvencies in December 2022 was 76 per cent higher than before the Covid-19 pandemic, new data from the ONS revealed on Tuesday. There were 1,964 company insolvencies in December 2022, 32 per cent higher than the previous year and 76 per cent higher than the 1,119 registered in December 2019. Fladgate’s [...]
Fresh multi-million pound grant stumped-up by Arts Council for the National Opera January 17, 2023 The English National Opera (ENO) is set to receive more than £11 million from the National Lottery for the next financial year after Arts Council England (ACE) announced funding cuts. In plans announced in November, ACE said it was removing the opera company as a national portfolio organisation, resulting in a funding cut of £12.6 [...]
Uncertainty around China’s reopening weighs on Rio Tinto’s expectations January 17, 2023 China's reopening from pandemic restrictions risks labour and supply-chain shortages, warned Anglo-Australian miner Rio Tinto.
LME legal chief steps down as nickel crisis intensifies at embattled exchange January 17, 2023 The LME has announced the upcoming departure of its legal chief, in another dramatic day for the embattled trading hub.