Ray Kelvin held Ted Baker too tight March 14, 2019 Yet another big-name chief executive has stepped down from their position at the helm of a well-known British business. The founder of fashion retail brand Ted Baker, Ray Kelvin, announced last Monday that he was going to be resigning from his position as chief executive, as the firm investigates allegations that he behaved inappropriately toward [...]
Money laundering is a dirty business that we need to clean up together March 14, 2019 Flag it up, clean it up, flush it out, whatever the call to action, anti-money laundering (AML) legislation is worthy of laser focus. It also requires hyper-vigilance from the accountancy profession. Last week, parliament’s Treasury select committee warned that the UK’s current efforts to counter money laundering are “fragmented”, and that its supervision requires greater [...]
Government must change policy on rail electrification or risk missing climate change targets, industry body warns March 14, 2019 The national body for Britain’s railways has warned the government could miss its targets of decarbonising train travel by 2040 unless it changes its policy on electrification. The Railway Industry Association (RIA) called on the government to collaborate with the rail industry and commit to electrification after several projects were cancelled in 2017. The association [...]
Businesses fear political threats and cyber attacks in uncertain risk environment March 14, 2019 More than three quarters of general counsels and board members view the risk landscape as having become significantly more complex in the last three years, with political risk cited as the number one risk facing businesses and technological risk a close second. A survey by law firm Clyde & Co and professional network organisation Winmark [...]
House of Lords Committee slams fraud office for slow pace of bribery investigations March 14, 2019 A House of Lords Committee today criticised the Serious Fraud Office (SFO) and Crown Prosecution Service (CPS) for the slow pace of bribery investigations. In a report on the Bribery Act 2010 published today, the Committee said: “The slow pace of investigations, and in particular the failure to update companies on their progress, is a [...]
City Moves for 14 March 2019 – Who’s switching jobs at Marex Spectron, Digital Catapult and Clifford Chance? March 14, 2019 Today's City Moves include Marex Spectron, Digital Catapult and Clifford Chance. Marex Spectron Marex Spectron has announced the appointment of Carla Stent as non-executive chair of the group board. Carla, who has sat on the board for the past four years and was until recently chair of the audit and compliance committee, takes over from Simon [...]
Tory MPs despair as May loses another Brexit vote, with Article 50 delay on the horizon March 14, 2019 Brexit is set to be delayed beyond 29 March after a tumultuous night in parliament saw a complete breakdown in Conservative party discipline. MPs backed taking no-deal off the table by 321 to 278, with 12 members of the government – including four cabinet ministers – refusing to follow Theresa May’s orders and vote against [...]
Former graduate trainee takes UBS to court over handling of London rape allegation March 13, 2019 A former graduate trainee has taken UBS to court over its handling of her alleged rape by a colleague nearly 20 years her senior. The claimant, referred to as Ms A, has filed a lawsuit against the Swiss bank for sexual harassment and victimisation, her legal team said today. Read more: UBS fined €4.5bn in [...]
Global outages cripple Facebook, Whatsapp and Instagram March 13, 2019 Several of Facebook’s most popular social media platforms are suffering partial outages around the world, largely affecting users across the Americas and Europe. Service continues to be disrupted on Facebook’s main app, Messsenger, Instagram and Whatsapp. Users began reporting issues at around 4pm GMT, with full access to the platforms still ongoing. Third-party outage tracker Down Detector said [...]
Trump says Federal Aviation Administration will ground Boeing 737-Max 8 planes over safety concerns March 13, 2019 US President Donald Trump has pushed through an "emergency order" to the US Federal Aviation Administration (FAA) "to ground all 737 Max 8 and the 737 Max 9, and planes associated with that line," after an Ethiopian Airlines plane crashed and killed 157 people. The FAA – and Trump by association – had both come under pressure [...]