Hays delivers investors a summer surprise after dividend hike August 30, 2018 UK recruitment giant Hays put a smile on investors’ faces at the opening bell this morning, after hiking its full-year dividend by 18 per cent. Annual profits leapt to £243m in the first half of 2018, rising 15 per cent from the same period in the previous year. The FTSE 250 firm revealed a special dividend [...]
Grant Thornton hit with £3m fine for Vimto audit failures August 29, 2018 Accountancy firm Grant Thornton has been fined £3m for misconduct in the auditing of the owner of soft drink Vimto and the University of Salford. Regulator the Financial Reporting Council (FRC) fined Grant Thornton and four of its senior auditors for what it said were “widespread and serious inadequacies”. The fines relate to the audits of [...]
London legaltech startup Apperio scores $10m from Draper Esprit August 28, 2018 London-based legaltech startup Apperio has secured a $10m (£7.5m) series A funding round led by Revolut-backer Draper Esprit. The round was supported by existing investors Notion Capital, IQ Capital and various individuals. Apperio’s tech provides in-house legal teams with a platform to view their end-to-end legal spend, including factors such as billed hours and legal budgets. It's scored [...]
Deloitte boosts partner profits as revenue hits £3.58bn August 28, 2018 Audit giant Deloitte handed its partners an average of £832,000 for the year ended 31 May, a 0.6 per cent year-on-year increase, it said today. Deloitte grew revenue 5.9 per cent to £3.58bn, marking its eighth consecutive year of growth. Read more: Former Arsenal shareholder settles lawsuit with Deloitte and Linklaters Its audit and risk advisory business grew [...]
Business losses from employee corporate fraud double on last year to nearly £90m August 28, 2018 Businesses lost nearly £90m from fraud carried out by their own employees this financial year, double the figure for the year before, new data reveals. The Home Office defines corporate employee fraud as when an employee is able to obtain property or greater remuneration through the act of fraud, as well as the misuse of corporate cards and expenses. [...]
City law firm criticises HMRC’s use of informants to claw back receipts from tax evaders August 28, 2018 A city law firm has criticised HM Revenue and Customs (HMRC) for paying informants to provide details on possible tax evasion, saying there were "ethical risks" tied to the practice. RPC said the practice of paying informants opened up the risk of increased data theft as disgruntled employees with an axe to grind could be persuaded into [...]
Activists at odds over RBS claims: The strange tale of two groups taking on the big bank August 24, 2018 Investors in RBS have become alarmed by payments made between two separate action groups claiming to represent shareholders and customers wronged by the bailed-out banking giant. The RBoS Shareholders Action Group company (AGC) was set up during the financial crisis to bring together RBS shareholders who claimed the bank hid the true state of its [...]
Property legal Q&A: I own a flat with a short lease and cannot afford to extend it. I am now facing difficulty selling my property. Do I have any options? August 23, 2018 You don’t say how short the lease is but it appears to be short enough to deter potential buyers from buying your property. Some lenders require a minimum of 85 years left to run on a lease before they will be willing to lend. Parties are generally worried the nearer the lease gets to 80 [...]
Legal Q&A: Why Conor McGregor, Reebok and a Dutch fashion house clashed over a trademark August 22, 2018 Two trademark experts examine the recent dispute involving MMA superstar Conor McGregor, sportswear brand Reebok and a Dutch fashion house. What has happened with Reebok and Conor McGregor? A Dutch fashion house called McGregor owns a registered EU trademark for ‘McGREGOR’ which gives it the right to prevent others from using the mark on clothing throughout the European [...]
Former Arsenal shareholder settles lawsuit with Deloitte and Linklaters August 22, 2018 Former major Arsenal Football Club shareholder Lady Nina Bracewell-Smith, has settled a lawsuit with her advisers over the sale of her shares in the club in 2011 to US businessman Stan Kroenke. Bracewell-Smith accused magic circle law firm Linklaters and Big Four accountant Deloitte of negligence in relation to the sale of her 15.9 per cent stake [...]