Audit watchdog ‘whitewashed’ my HBOS evidence, says whistleblower February 6, 2019 The UK audit watchdog has been accused of brushing-off a whistleblower who claimed HBOS had understated loan-loss provisions in its 2007 accounts. An MP described the handling of the case as “astounding”. Rob Kennedy, a former employee in the lender’s corporate division, was part of the team that worked directly to calculate the provision and [...]
Fire, brimstone and Brexit….it’s all getting a bit theological February 6, 2019 Given that the Brexit debate has touched on every element of our lives from food security to house prices, it was perhaps inevitable that it would end up as a theological discussion. And so it came to pass, yesterday, when EU Council President Donald Tusk told a press conference that he ponders about “a special [...]
RBS shareholders approve scheme to buy shares back from government February 6, 2019 Royal Bank of Scotland shareholders have agreed to a plan that allows it to buy up to £1.5bn worth of shares from the government, hours after Labour said it would halt such a move if it came to power. At a general meeting, 98.7 per cent of investors backed the proposal designed to speed up [...]
Restaurant sector defies confidence slump as UK leisure spending grows February 6, 2019 Restaurant goers continued to show an appetite for dining out towards the end of last year, with net spending in the UK’s leisure sector rising in the final three months of 2018. According to a new report from Deloitte, the UK’s leisure industry grew by two percentage points year-on-year in the fourth quarter of 2018, [...]
BMW-owned car sharing venture Drivenow expands electric car fleet February 6, 2019 BMW's car sharing service Drivenow has added 130 all-electric cars to its London fleet, as it pushes to meet the capital's air quality requirements. The extra 130 BMW i3 vehicles will join Drivenow's current electric fleet of 50 cars, as well as its other 540 BMW and Mini vehicles across the city. Drivenow said the [...]
Noel Edmonds’ lawyer to take on Lloyds Banking Group over Bristol allegations February 6, 2019 Noel Edmonds’ lawyer Jonathan Coad is set to open a new front in his battle against Lloyds Banking Group. Coad tweeted today that he has been instructed by a “lady who is a victim of Lloyds Bristol”. Speaking to City A.M. Coad said: “I have spoken to a number of people who are victims of [...]
Royal London to transfer £1bn of assets to Ireland over ‘no-deal’ Brexit concerns February 6, 2019 The UK's largest mutual insurer, the Royal London Mutual Insurance Society (RLMI), is to transfer £1bn of its assets to Ireland amid increasing concerns over a no-deal Brexit. A High Court judge yesterday granted RLMI permission to move its business from the European Economic Area (EEA) to a newly formed Irish subsidiary, Royal London Insurance DAC, because of [...]
HS2 station contracts worth £2.56bn awarded to Mace, Balfour Beatty and Vinci February 6, 2019 HS2 has tasked construction firms Mace, Balfour Beatty and Vinci with building the project’s London terminus and west London super-hub at Old Oak Common, in deals worth £2.56bn. Mace and joint venture partner construction firm Dragados will take on the work at Euston, worth £1.65bn, in an award which will come as a blow to [...]
Snap shares rise almost 30 per cent as strong results convince investors February 6, 2019 Shares in Snap have risen almost 30 per cent today, after a bumper set of results acted as a boon to investors looking for signs the tech firm could be revived. The parent of photo-sharing app Snapchat trounced consensus estimates in its fourth quarter, reporting a revenue rise of 36 per cent to $389.8m (£300.9m), [...]
Jean-Claude Juncker shoots down Theresa May’s backstop renegotiation plan February 6, 2019 Theresa May’s hopes of securing changes to the Brexit backstop have been dealt a serious blow by European Commission President Jean-Claude Juncker. In a press conference in Brussels on Wednesday afternoon, Juncker ruled out replacing the controversial plan with “alternative arrangements” – a move backed by UK MPs last week. He also refused to accept [...]