HSBC’s chief exec Stuart Gulliver fails to close probe into his taxes, as taxman requests a string of information March 16, 2017 The boss of HSBC may have hand to over more information to the taxman, after a bid by the businessman to close a probe into his affairs failed. HM Revenue & Customs (HMRC) opened an investigation into Stuart Gulliver's personal tax return for 2013-14 in December 2015. The tribunal decision notice stressed the enquiry was limited to factual [...]
Ineos is in talks to buy BP’s Forties pipeline system in the North Sea March 16, 2017 Chemicals giant Ineos is in talks to buy a significant North Sea pipeline from BP. The Forties pipeline system, which is one of the oldest and largest in the North Sea, is about 100 miles long and transports around 450,000 barrels of oil a day, which is about 40 per cent of UK production. Spokespeople [...]
The Office Group is expanding to Hammersmith March 16, 2017 Co-working office provider The Office Group is expanding its footprint in the capital, taking out a 20-year lease on a building in Hammersmith. The company is opening up 61,000 square feet (sq ft) of flexible office space across the lower eight floors of 1 Lyric Square, a block located just minutes from Hammersmith tube station. [...]
City of London Corporation to regenerate the waterfront around Custom House March 16, 2017 The City of London Corporation is drawing up a master plan for redevelopment of Custom House and the buildings surrounding it in a bid to rejuvenate the City’s waterfront. Custom House was formerly used for the collection of tariffs on goods, and was rebuilt after the Great Fire of 1666 based on designs drawn up [...]
City of London wants to be an early adopter of 5G – but doesn’t know what it is March 16, 2017 The City of London is ready to give its workers the fastest possible internet speeds in the form of 5G – but doesn't know exactly what 5G is. The super-speedy mobile network is scheduled to arrive in the UK in 2020, and the City of London Corporation is committed to making sure the capital's financial [...]
Sandi Toksvig and Noel Fielding revealed as presenters for the Channel 4 version of Great British Bake Off March 16, 2017 Channel 4 today revealed comedians Sandi Toksvig and Noel Fielding will be stepping into the Great British Bake Off (GBBO) tent as the show's new presenters. Also new for the eighth season of the show will be food writer Prue Leith. She will be joining baker Paul Hollywood, who hopped channels after the BBC lost the rights [...]
Former Barclays boss Bob Diamond is readying a return to the City as part of a Qatar-backed takeover bid for Square Mile stockbroker Panmure Gordon March 16, 2017 Bob Diamond, the former chief executive of Barclays, is reportedly set to launch a takeover bid for Panmure Gordon, one of Britain's oldest stockbrokers. Diamond's private equity firm, Atlas Merchant Capital (AMC), and QInvest, a Qatari investment bank that currently owns 43 per cent of Panmure, will create a bid vehicle to make an offer, according [...]
Solicitor general gives no guarantees fraud squad won’t be culled, as the government mulls the future of economic crime oversight in the UK March 16, 2017 The solicitor general today came out in support for the Serious Fraud Office (SFO) but refused to go as far as guarantee it won't be rolled into another of the UK's crime agencies in the future. The government is currently auditing the UK's approach to economic crime, leading some to believe the future of the SFO [...]
Buy-to-let bonds could be hit by falling rents in London and the south east, Moody’s warns March 16, 2017 Falling rents in London and the south east could hurt buy-to-let bonds, ratings agency Moody's has said. Earlier this week it emerged rent increases for tenants across the UK have fallen to their lowest since 2013 as prices in London dropped for the ninth month in a row. Average rents in London declined 4.7 per cent year-on-year while [...]
Senior Barclays’ banker believes the bank’s rules on Libor had flaws, court told in trial against two former traders March 16, 2017 A senior Barclays' banker today in court conceded the rules the bank asked staff to follow on Libor had some flaws, as a trial against two of the bank's former traders rumbles on. The Serious Fraud Office has claimed Stylianos Contogoulas, 45, and Ryan Reich, 35, played roles in a conspiracy to fix the benchmark rate [...]