Leave tycoon Arron Banks insists there is ‘no Russian money’ in Brexit campaign donations November 4, 2018 British millionaire and political donor Arron Banks has insisted there was "no Russian money" in the donations received by his controversial campaigns to leave the EU. Banks, a prominent Brexiter, was referred to the National Crime Agency (NCA) on Thursday by the Electoral Commission which said it had found evidence of "multiple suspected offences" committed during the [...]
Mazars says joint audits and market caps are solution to audit sector woes November 4, 2018 Mazars, the professional services firm which is France’s fifth-largest auditor, has weighed in on the under-fire sector’s future, calling for market share caps and joint audits to disrupt the dominance of the Big Four firms. It is the first large audit firm to release its response to the Competition and Markets Authority (CMA), which is [...]
Sushi chain Wasabi hires PwC in hunt for cash injection to fund expansion November 4, 2018 Sushi chain Wasabi is hunting for a new investor to drive international expansion, during a challenging period for the UK dining sector. Financial services giant PwC has been hired to search for an injection of capital, the firm confirmed today, which will be used to refurbish and expand the UK portfolio of around 50 stores. [...]
Former Cabinet secretary Sir Jeremy Heywood dies of cancer aged 56 November 4, 2018 Former Cabinet secretary and head of the civil service Sir Jeremy Heywood has died of cancer, aged 56. Heywood, who served in Downing Street under Labour Prime Ministers Tony Blair and Gordon Brown and Tory leaders David Cameron and Theresa May, retired from the civil service on 24 October to focus on his cancer treatment. Downing Street confirmed [...]
British business leaders demand ‘people’s vote’ on Brexit deal November 4, 2018 Over 70 City grandees including the former chairmen of Lloyd’s of London and Standard Chartered have joined calls for a “people’s vote” on the final Brexit deal between the UK and the European Union. Ahead of the launch of ‘Business for a People’s Vote’, a new campaign group, the group warned in a letter published [...]
IWG boss mulling £2.2bn break-up of serviced office space business November 3, 2018 The world’s largest serviced office space provider is mulling a £2.2bn split which could result in swathes of the company’s international portfolio being sold off, according to Sky News. Mark Dixon, who runs IWG and founded the company under its original Regus brand, is said to be weighing up plans to split the firm into two [...]
Insurance turnaround helps double profit at Berkshire Hathaway November 3, 2018 Warren Buffet’s conglomerate Berkshire Hathaway reported a sharp rise in profit this afternoon, as tax cuts and stronger insurance results boosted earnings. Operating profit in the third quarter of the year climbed to $6.88bn (£5.3bn), marking a steep rise from $3.44bn in the previous year and higher than the Wall Street estimates of $6.11bn. The [...]
Steel mogul swoops in for three more sites as European portfolio grows November 3, 2018 British industrialist mogul Sanjeev Gupta has snapped up three more European steel plants, as his spending spree across the continent shows no sign of slowing down. Gupta has bought three steelworks from ArcelorMittal, located in Belgium and Luxembourg, weeks after acquiring four other sites in Romania, Czech Republic, Macedonia and Italy. The landmark transactions come [...]
Iranian oil sanctions loom as US gears up for ‘toughest sanctions regime ever imposed’ November 3, 2018 Politicians and businesses are bracing themselves for new US sanctions on Iranian oil that are set to come into effect on Monday, in what the White House has branded as its "toughest ever" measures imposed on Tehran. The US is planning to reinstate all US sanctions on Iran removed under the 2015 nuclear deal, in a [...]
Barclays and Lloyds among the worst performers in EU bank stress test November 3, 2018 Barclays and Lloyds surprised markets yesterday after being named and shamed in the EU’s banking health check. The two British lenders were among the worst performers in the EU banking watchdog’s new report, which tested European banks and their ability to withstand a hypothetical market shock. While none of the 48 lenders fell below the [...]