WANdisco CEO and CFO quit as investigation finds $115m of false sales April 3, 2023 The chief executive and finance boss of troubled tech firm WANdisco have stepped down today after an investigation found that $15m of revenues and $115m of sales last year were completely made up. Sheffield-based WANdisco suspended trading on the London Stock Exchange in March after an internal investigation uncovered “potentially fraudulent irregularities” on its books, [...]
Ithaca Energy hesitates over stake in controversial Rosebank oil field April 3, 2023 Ithaca Energy is hesitating over plans to develop Rosebank, unless a price floor is brought into the windfall tax, City A.M. understands.
No firms charged with ‘failure to prevent’ tax evasion in 6 years – here’s why April 3, 2023 The UK taxman has not charged any British firm with the ‘failure to prevent tax evasion’ offence since it was introduced six years ago, HMRC has confirmed. Under the offence, introduced in 2017, a British company can be criminally prosecuted if it was found to have not put adequate checks and systems to prevent its [...]
The New Reason People Don’t Want To Come Back To The Office April 3, 2023 | Sponsored More than a third of UK workers would quit their current role if their employer demanded they return to the office full time. That’s according to recent data which found that 32% would move to a different industry, 19% would take a pay cut, and 30% would adopt a new career in order to continue [...]
A six month pause on new artificial intelligence won’t stop the race for dominance April 3, 2023 Elon Musk and more than a thousand other tech experts want a pause to new AI development, but there's no real incentive for a ceasefire, writes Chris Mallows.
Government to encourage businesses to save energy as it slashes bill support April 1, 2023 The government has launched a bid to help businesses use less energy on the same day as it pulls away most of its energy bill support for companies. Small and medium-sized companies will be told that they can save money on their bills by putting light and heating on timers, turning down flow temperatures on [...]
FTSE 100 live: London’s blue chip stocks end the week in the black as March bows out ‘like a lamb’ with bulls ‘licking their wounds’ March 31, 2023 London’s premier index ended the week in the black, just. The FTSE 100 was last up at 7,631.74 just 11.31 points or 0.15 per cent. The FTSE 250, which is more UK focused ended the week slightly in the black up at 18,928.30 or 20.56 points higher. Today was the final trading day in a [...]
Four day week, recession fears, Brexit and banking: The top five business news stories on City A.M. March 31, 2023 This week started off with markets trying to settle themselves after the chaos in the banking sector, so attention turned to work itself and the idea of a four-day week made for one of the most read stories online. Along with that story here are the four others that were the top five read business [...]
Down to earth for Branson’s Virgin Orbit satellite firm as funding dries up and 85 per cent of staff are cut March 31, 2023 Sir Richard Branson’s satellite launch firm Virgin Orbit is to cut 675 jobs – about 85% of its workforce – after failing to secure new funding. The entrepreneur has said he will inject almost £9 million to go towards severance costs. It comes amid reports from the Financial Times that Virgin Orbit’s chief executive Dan [...]
New James Bond story will focus on London and King Charles’ Coronation March 31, 2023 Ian Fleming productions has announced a new James Bond story will be released to coincide with King Charles’ Coronation in May. The story will be called On His Majesty’s Secret Service, following on from the original Ian Fleming novel, On Her Majesty’s Secret Service. The new story will be written by Charlie Higson, who has [...]