Wrong masks, retrospective due diligence and absent records: Litany of govt PPE failure laid bare November 18, 2020 A report by the National Audit Office (NAO) has offered examples of some of the failures made by the Cabinet Office when it came to procuring personal protective equipment (PPE) in the early days of the Covid-19 pandemic. The investigative report, which was published by the NAO today, has outlined examples of the government handing [...]
ICE Benchmark to consult on scrapping most Libor denominations November 18, 2020 By Huw Jones LONDON (Reuters) – Libor compiler ICE Benchmark Administration said on Wednesday it will consult on its plan to stop publishing the interest rate denominated in sterling, euro, Swiss franc and Japanese yen. Britain’s Financial Conduct Authority and other regulators have said they want banks, companies and other market participants to end the [...]
From ‘haves’ to ‘have-nots’: how COVID-19 is swelling UK’s subprime ranks November 18, 2020 By Sinead Cruise and Iain Withers LONDON (Reuters) – One morning, after years of financial prudence and solid creditworthiness, you wake up and it’s all gone. You’re no longer worthy. You’re a risk. In fact, you’re sub-prime. That is the fate facing thousands of Britons who, often for no fault of their own, could begin [...]
Anti-vaxxers may lose travel insurance over Covid vaccine refusal November 17, 2020 Anti-vaxxers may risk invalidating their travel insurance if they are medically able but decline to have the coronavirus vaccine, an insurance expert has warned. Medical underwriting specialist and travel insurance expert Tricia Tietema told City A.M she would expect that those who are medically able to have the coronavirus vaccine, should one become available, but [...]
Gap between rich and poor grows despite jump in savings ratio November 16, 2020 The wealth gap between rich and poor people in the UK is widening as a result of the ongoing coronavirus pandemic and the ensuing lockdowns, according to an Oxford-based think tank. Research from the Centre for Enterprise, Markets and Ethics has found that a third of British people now have less than £1,500 in the bank, [...]
Why Juan Manuel Fangio, not Lewis Hamilton or Michael Schumacher, is the greatest Formula 1 driver ever November 15, 2020 Lewis Hamilton’s seventh world title, clinched today in Turkey, revives debate about whether he is the greatest Formula 1 driver of all time. The Briton has now equalled Michael Schumacher’s record for the most championships, and, with 94, has won more races than anyone else. But what if you could objectively compare drivers from different [...]
Snitches get riches: HMRC payments to tax evasion whistleblowers up 63% in 2019/20 November 15, 2020 HMRC reported a 63% increase in payments to whistleblowers for reporting tax evasion in the 2019/2020 tax year, paying £473,000 to informants during the period. In the previous tax year HMRC paid £290,250 to informants – around £182,000 less than in 2019/20. The figures were published in HMRC’s annual reports and accounts 2019 to 2020. [...]
Treasury advisor sacked by Dominic Cummings wins five-figure payout November 13, 2020 A former government aide who was fired by Boris Johnson’s top advisor Dominic Cummings will receive a five-figure settlement from the government. Sonia Khan, who worked as a media adviser for the Treasury, had been sacked by Cummings in August of last year. She was “frogmarched” out of Downing Street by police, according to a [...]
BoE’s Cunliffe: ‘Not our job’ to protect banks from digital currencies November 13, 2020 Bank of England deputy governor Jon Cunliffe has said it is not the bank’s job to protect other banks from the impact of future digital currencies. Speaking an on online seminar today, Cunliffe said: “Our job is not to protect bank business models. Banks will have to adjust. Our job is to ensure that if [...]
Trump bans US investments in firms controlled by Chinese military November 12, 2020 Donald Trump has signed an executive order banning U.S. investments in Chinese firms that Washington says are owned or controlled by its military. The order could impact some of China’s biggest companies, including telecoms firms China Telecom Corp Ltd, China Mobile Ltd and surveillance equipment maker Hikvision. The move is designed to deter U.S. investment [...]