FCA ‘right to resist’ financial inclusion role, legal experts say September 8, 2022 Granting the UK’s top financial watchdog responsibility for ‘financial inclusion’ would be “overreach” and give it powers that it cannot discharge, legal experts have warned today.
Ministers press ahead with powers to intervene in financial rules September 8, 2022 Ministers have pressed ahead with plans to grant the government “call in” powers to intervene in financial regulation today, just one day after City watchdogs underlined the importance of regulatory independence to financial stability.
Allwyn eyes up its American dream amid Camelot u-turn September 7, 2022 Following Camelot’s withdrawn legal battle over the National Lottery licence this week, Allwyn seems to be heading full speed ahead with its American dream, as well as its New York listing. Blank check firm Cohn Robbins Holdings Corporation (CRHC) announced this evening that its shareholders approved the business combination with Allwyn: paving the way for [...]
Audit watchdog’s Birmingham staff relocation plans still to be decided September 7, 2022 Ministers have not yet come to a decision as to whether staff at the Financial Reporting Council (FRC) will be asked to relocate to Birmingham following the launch of the UK’s new audit watchdog, City A.M. understands. Staff were told that Birmingham had been picked as the home of the UK’s new Audit, Reporting Governance [...]
New justice secretary Brandon Lewis faces calls to ‘open negotiations’ with barristers September 7, 2022 Former secretary of state for Northern Ireland Brandon Lewis is set to succeed Dominic Raab as the UK’s new justice secretary. The 51-year-old MP for Great Yarmouth is set to face immediate pressure from striking barristers following calls from the chair of the Criminal Bar Association for “substantial positive movement” from the government. The appointment [...]
North Sea watchdog waiting on Government to begin oil and gas licensing September 7, 2022 The North Sea Transition Authority is still waiting for the Government to define the environmental criteria for oil and gas exploration.
North Sea body and unions warn offshore workers against wildcat strikes September 7, 2022 The UK's leading North Sea body has warned against wildcat strikes tomorrow, as have unions including GMB, RMT and Unite.
Cineworld files for bankruptcy in the US September 7, 2022 Cineworld has filed for bankruptcy in the United States, as things go from bad to worse for the beleaguered cinema chain. The cinema chain announced last month that it was voluntarily seeking a Chapter 11 bankruptcy filing in the US, sending shares down 25 per cent. Shares in Cineworld have been in freefall in the past few weeks, with [...]
When the chips are down: Samsung boss warns of weakening demand September 7, 2022 The global semiconductor industry may take a turn for the worse after years of steadily rising demand, the CEO of Samsung Electronics has warned. Semiconductors, or computer chips, are used in most of today’s technology and are a critical component in electric vehicles. “The second half of this year looks bad, and as of now, [...]
Keeping up with private equity: Kim Kardashian launches investment firm with former Carlyle exec September 7, 2022 Having dabbled in the world of crypto, Kim Kardashian is now turning her hand to private equity.